Objectif

Recherche des instruments productifs de revenu comme les obligations du gouvernement européen e des sociétés européennes de haute qualité.

Stratégie

Diversifier dans le monde des obligations à court terme « investment grade » principalement émises par les gouvernements. Ceux-ci peuvent inclure les obligations zero coupon, le marché monétaire, les contrats futures négociés en bourse, le ventes à terme de divise aux fins de la gestion de la « duration » du portefeuille et pour une exécution plus rentable des opérations.

Faits du fonds
Gestionnaire d'actifs
  • ARCA Fondi SGR SpA, Milan, Italy(Since 1/1/95)
Référentiel Bloomberg Barclays Euro Aggregate: 80 % Treasury (1-3 Yr) Index / 20% Corporate (1-3 Yr) Index
Date de création du fonds 6 mai 2009
Investissement minimum €50,000
Ratio de frais de gestion 0.45
ISIN IE00B3R5XB01

Additional Facts

A partir du 1 Juin 2017 il le benchmark pour l’European Short Bond Fund a été changé en 80% de l’index Bloomberg Barclays Euro Aggregate Treasury (1-3 yr) et 20% de l’index Bloomberg Barclays Euro Aggregate Corporate (1-3 yr). Pour la période précédente le 1 Juin 2017 le benchmark était l’index Bloomberg Barclays European Government (1-3 yr).

Rendement total moyen annuel
(%) au 30/09/2019

Suivi 3
Months
1
Yr
3
Yrs
5
Yrs
10
Yrs
Since
Inception
Inception
Date
European Short-Term Government Bond Fund 0.22 0.42 -0.26 0.01 1.19 1.20 01/01/1970
BB Euro Aggregate: 80 % Treasury (1-3 Yr) / 20% Corporate (1-3 Yr) Index 0.32 0.74 0.21 0.49 1.71 1.73 01/01/1970

Characteristics as of 30/06/2019

Statistiques Fonds Indice
Average Maturity 2.2 years 2.0 years
Effective Duration 1.9 years 1.9 years
Yield to Maturity -0.1% -0.3%
Current Yield 1.8% 2.0%
Average Credit Quality A- A
# of securities 120 693
Fund Size (EUR Class) € 49.0MM
Qualité de crédit Fonds Indice
AAA/Aaa 15.3 19.0
AA/Aa 27.2 29.8
A 6.4 8.5
BBB/Baa 49.7 42.7
< BBB/BAA 0.7 0.1
Cash 0.8 0.0
Durée réelle Fonds Indice
0 - 1 Years 17.4 4.7
1 - 3 Years 80.7 95.3
3 - 5 Years 1.5 0.0
5 - 7 Years 0.4 0.0
Sécurité nationale Description de sécurité % Poids
France 26.9 23.9
Germany 14.1 17.5
Italy 26.0 19.4
United Kingdom 1.6 2.7
Japan 0.0 0.1
Canada 0.0 0.1
United States 0.6 2.4
Other Developed Europe 30.4 32.3
Other Developed Asia 0.0 0.8
Other Emerging Asia 0.0 0.0
Other Emerging Markets 0.3 0.8
Exposition nationale Fonds Indice
France 22.3 22.9
Germany 13.4 17.4
Italy 28.7 21.6
United Kingdom 3.3 2.9
Japan 0.0 0.2
Canada 0.0 0.2
United States 2.0 2.7
Other Developed Europe 29.8 30.6
Other Developed Asia 0.0 0.7
Other Emerging Asia 0.0 0.1
Other Emerging Markets 0.4 0.7
Bloc de devise Fonds Indice
Dollar 0.0 0.0
Euro 100.0 100.0
UK Pound 0.0 0.0
Other 0.0 0.0
  • Q2 2019 Performance Review

    3-MONTH REVIEW

    • The Fund’s shorter duration detracted from relative performance as short-term rates declined during the period.
    • Curve positioning was slightly positive.
    • Sector allocation was neutral for the trailing three months.
    • Security selection was beneficial due to the Fund’s continued overweight position in Italian bonds.

    12-MONTH REVIEW

    • Duration was defensively positioned throughout the year; however, rates declined, which caused a drag on results.
    • Curve positioning was additive.
    • Sector allocation was negative due primarily to the Fund’s exposure to Financials and poor performing French and German bonds.
    • Security selection was positive as 1-year, 2-year and 4-year issues performed well. Conversely, securities in the 3-year maturity bucket offset most of the gains.

     

  • Fiche technique du fonds

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