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Risk Considerations

  1. The Fund is actively managed and invests mainly in a diversified portfolio of corporate debt securities that are denominated in euro.
  2. Investment in the Fund involves risks, including general investment risk, geographic concentration risk and Eurozone risk, currency risk, risk associated with changes resulting from the United Kingdom’s exit from the EU and exclusion criteria risk which may result in loss of a part or the entire amount of your investment.
  3. The investment in debt securities is also subject to credit/counterparty risk, interest rate risk, downgrading risk, credit rating risk, risk associated with high yield debt securities which are generally rated below investment grade or unrated, risk associated with investments in debt instruments with loss-absorption features and valuation risk.
  4. The Fund may use derivatives for hedging, efficient portfolio management and investment purposes or to create synthetic short positions in debt securities and credit indices, and is subject to derivatives risk. The Fund may also implement active currency position and is subject to relevant risks. Exposure to derivatives may also lead to a risk of significant loss to the Fund.
  5. The value of the Fund can be volatile and could go down substantially.
  6. Investors should not invest in the Fund solely based on this website.

Investment involves risk. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

Euro Corporate Bond Fund
This actively managed diversified fund invests predominantly in corporate bonds denominated in euros. Environmental, Social and Governance (ESG) considerations are integrated into the investment process as a component of the investment decision. The fund is categorised as Article 8 under Sustainable Finance Disclosure Regulation (SFDR).
ISIN LU0133089424
30-Nov-2023 - David Stanley, Portfolio Manager,
With a lack of apparent negative catalysts on the horizon, we think positive sentiment could continue, while demand is healthy, and supply should be light. The rally was surprisingly strong, however, and expectations for interest rate cuts now look somewhat aggressive. We will remain discerning, focusing on attractively valued issuers with strong balance sheets.

Fund Summary
We use proprietary, fundamental credit research to focus on identifying corporate bonds that offer attractive yields in relation to their credit fundamentals. We integrate financial, technical, legal and qualitative research with relative value analysis. Risk management is integral, with limits on both duration and yield curve exposures. The promotion of environmental and/or social characteristics is achieved through the fund's commitment to maintain at least 10% of the value of its portfolio invested in Sustainable Investments, as defined by the SFDR. Additionally, we apply a proprietary responsible screen (exclusion list). The manager is not constrained by the fund’s benchmark, which is used for performance comparison purposes only.
Performance - Net of Fees

Past performance is not a reliable indicator of future performance.

- David Stanley, Portfolio Manager,
30-Apr-2017 - David Stanley, Portfolio Manager, Fixed Income,
We maintain underweight allocations to France, and Germany in favour of overweight positions in the Spain and Italy.