Obiettivo

Cercare un reddito sostenibile con una modesta rivalutazione del capitale. Concentrarsi principalmente su titoli di debito sovrano, investment grade, sovranazionali e assistiti da garanzia societaria e ipotecaria, incluse securitizzazioni, in tutto il mondo.

Strategia

Enfatizza l’esposizione dei paesi e degli emittenti di tutto il mondo ad aziende con una salute finanziaria in miglioramento in rapporto ai loro pari; mette insieme le analisi fondamentali e quantitative nel tentativo di ottimizzare la struttura del portafoglio per il paese, la valuta, la durata e le esposizioni della curva di rendimento – utilizza l’approccio dall’alto/dal basso per determinare i settori e gli emittenti

Schede Comparto
Gestore patrimoniale
  • Degroof Petercam Asset Management, Brussels, Belgium
Paramentro di riferimento Indice obbligazionario globale Barclays Capital Global
Data di inizio del Comparto 12 luglio 2010
Investimento minimo €50,000
Tasso dei costi 0.85
ISIN IE00B3DD4X73

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

Traccia 3
Months
1
Yr
3
Yrs
5
Yrs
10
Yrs
Since
Inception
Inception
Date
World Bond Fund 3.21 9.37 0.82 4.57 * 3.10 01/01/1970
Bloomberg Barclays Global Aggregate Bond Index 1.85 8.52 0.79 5.00 * 3.74 01/01/1970

Characteristics as of 30/06/2019

Statistica Comparto Indice
Average Maturity 9.8 years 8.8 years
Effective Duration 7.0 years 7.0 years
Yield to Maturity 2.3% 1.5%
Current Yield 2.8% 2.5%
Average Credit Quality A A+
# of securities 146 23,706
Fund Size (EUR Class) € 197.2MM
Durata effettiva Comparto Indice
0-1 years 2.0 1.9
1-3 years 13.6 26.5
3-5 years 21.6 24.4
5-7 years 22.8 13.0
7-10 years 14.4 12.2
10-20 years 24.4 17.5
> 20 Years 1.1 4.5
Qualità di credito Comparto Indice
AAA 33.6 39.8
AA 5.3 15.4
A 18.8 26.9
BBB/BAA 31.7 17.3
< BBB/NR 9.2 0.6
Cash 1.3 0.0
Settore Comparto Indice Diff.
Treasuries 48.0 54.1 -6.0
Agency 1.4 5.8 -4.4
Industrials 18.3 10.4 8.0
Finance 24.9 7.1 17.9
Local Authority 0.0 3.0 -3.0
Utilities 2.2 1.5 0.7
Supranational 0.6 2.1 -1.6
Sovereign 3.3 1.2 2.1
Covered 0.0 2.7 -2.7
MBS 0.0 11.2 -11.2
CMO 0.0 0.0 0.0
CMBS 0.0 0.8 -0.8
ABS 0.0 0.2 -0.2
Cash 1.3 0.0 1.3
Paese Comparto Indice
France 5.1 5.9
Germany 1.4 4.5
Italy 4.6 3.5
United Kingdom 5.4 5.2
Japan 1.1 16.7
Canada 2.4 3.4
United States 40.3 39.9
Other Developed Europe 22.5 11.8
Other Developed Asia 2.9 2.1
Other Emerging Asia 1.1 3.9
Other Emerging Markets 13.2 3.1
Blocco della diffusione Comparto Indice
Dollar 41.4 45.0
Euro 37.7 24.3
UK Pound 2.0 4.6
Yen 0.0 16.4
Other* 18.9 9.6
  • Q2 2019 Performance Review

    3-MONTH REVIEW

    • The Fund’s shorter duration positioning versus the benchmark was positive for the quarter.
    • Curve positioning was flat for the quarter.
    • Sector allocation resulted added to relative performance, with an overweight to Finance was the primary driver of positive contribution.

    12-MONTH REVIEW

    • The Fund’s higher relative weight to longer duration Euro currency, benefited results.
    • Yield curve positioning benefitted the portfolio, as longer maturities produced the highest contributions to returns.
    • Sector allocation provided strong results as the Fund’s overweights to Corporates and Sovereign were beneficial.
    • Security selection was relatively flat but did provide a slight contribution to outperformance.
  • Scheda Comparto

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