The Fund aims to generate an income with the opportunity to provide capital growth over at least 5 years. The Fund seeks to achieve its objective by investing primarily in a diversified portfolio of Non-Investment Grade debt securities (e.g. bonds), issued by governments, government agencies, supranational bodies, local authorities, national public bodies, institutions and corporations across the world, with the relevant currency exposure hedged back into U.S. Dollars.
The performance of years prior to 2021 was achieved under circumstances that may no longer apply. On 30 November 2017 and 28 April 2020, the investment policy was changed. On 11 June 2021, the name, investment objective and policy and base currency have changed.
Effective 11 June 2021, the benchmark has been changed from BofAML European Currency High Yield Constrained Hedged EUR Index to ICE BofAML Global High Yield Constrained Hedged EUR Index. On 1 August 2016, the benchmark changed from BofAML European Currency Non-Financial High Yield Constrained Hedged EUR Index to BofAML European Currency High Yield Constrained Hedged EUR Index. Any benchmark performance quoted before 11 June 2021 belongs to the old benchmark. Benchmark was changed for more accurate representation of the Sub-Fund’s investible universe.
The computation basis of the performance is based on the calendar year end, NAV-To-NAV, with dividend reinvested.
These figures show by how much the share class increased or decreased in value during the calendar year/performance periods being shown. Performance data has been calculated in share class currency, including ongoing charges and excluding subscription fee (initial charge) and redemption fee (if any) you might have to pay. If the currency shown differs from your home currency, returns may increase or decrease as a result of currency fluctuations. We recommend that you seek independent financial advice to ensure this Fund is suitable for your investment needs.
Where no past performance is shown there was insufficient data available in that year to provide performance.
No representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.
Please refer to the “Key facts & Downloads” section below for the benchmark name and the inception date of the Fund and the share class.