Obiettivo

Individuare strumenti che producano reddito quali le obbligazioni di governi e di aziende di alta qualità europee.

Strategia

Creare un portafoglio diversificato di obbligazioni “investment grade” a breve termine primariamente di emissione governativa; questi titoli possono includere obbligazioni zero coupon, depositi nel mercato monetario, contratti nei futures e contratti di negoziazioni di divisa a termine per lo scopo di amministrare la duration del portafoglio, o di ottenere un maggior contenimento dei costi.

Schede Comparto
Gestore patrimoniale
  • ARCA Fondi SGR SpA, Milan, Italy(Since 1/1/95)
Paramentro di riferimento Bloomberg Barclays Euro Aggregate: 80 % Treasury (1-3 Yr) Index / 20% Corporate (1-3 Yr) Index
Data di inizio del Comparto 6 maggio 2009
Investimento minimo €50,000
Tasso dei costi 0.45
ISIN IE00B3R5XB01

Ulteriori fatti

Dal 1 Giugno 2017 il parametro di riferimento dell’European Short Bond Fund è stato cambiato per l’80% dell’indice Bloomberg Barclays Euro Aggregate Treasury (1-3 yr) e 20% dell’indice Bloomberg Barclays Euro Aggregate Corporate (1-3 yr). Per il periodo antecedente il 1 Giugno 2017 il parametro diriferimento era l’indice Bloomberg Barclays European Government (1-3 yr).

Rendimenti annuali medi totali
(%) al 30/09/2019

Traccia 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

Statistica Comparto 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
Qualità di credito Comparto 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
Durata effettiva Comparto 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
Sicurezza del paese Descrizione della sicurezza % Peso
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
Esposizione del paese Comparto 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
Blocco della diffusione Comparto 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.

     

  • Scheda Comparto

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