Objective

Investment objective summary

  • The Fund aims to generate a high level of income, with the opportunity for capital gain, primarily through investment in a diversified portfolio of Investment Grade fixed and floating rate securities, normally denominated in U.S. Dollars and issued by governments, institutions and corporations in both developing and developed countries. When judged appropriate, the portfolio may be held in fixed interest securities denominated in currencies other than U.S. Dollars, with the relevant currency exposure hedged back into U.S. Dollars.
Darpan Harar
Portfolio Manager
Jeff Boswell
Portfolio Manager
Tim Schwarz
Portfolio Manager

Performance & returns

Key facts

  • Domicile

    Luxembourg

  • ISIN

    LU2208622915

  • Risk profile

    4

  • SEDOL

    BMYGJ88

  • CUSIP

    L6S44C170

  • Bloomberg code

    INGCBII LX

  • Benchmark

    BofAML Global Broad Market Corporate Hedged USD

  • Morningstar category sector

    Global Corporate Bond - USD Hedged

  • Fund inception date

    22/06/2000

  • Share class inception date

    21/08/2020

  • Minimum investment

    USD1,000,000 / equivalent approved currency

  • Valuation point

    16:00 New York Time (forward pricing)

  • Ninety One Sustainability Classification

    ESG Integration

Literature

Portfolio & Holdings

Date as of 28/02/2023
Index
Fund
AAA
0.9
AA
8.5
A
42.1
BBB
48.5
BB
B
Cash and near cash
*Bond ratings are Ninety One approximations.

Charges

Maximum initial charge %

5.00

Ongoing charge %

0.66
The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus.

Specific fund risks

Charges from capital

For Inc-2 and Inc-3 shares classes, expenses are charged to the capital account rather than to income, so capital will be reduced. This could constrain future capital and income growth. Income may be taxable.

Default

There is a risk that the issuers of fixed income investments (e.g. bonds) may not be able to meet interest payments nor repay the money they have borrowed. The worse the credit quality of the issuer, the greater the risk of default and therefore investment loss.

Derivatives

The use of derivatives may increase overall risk by magnifying the effect of both gains and losses leading to large changes in value and potentially large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss.

Interest rate

The value of fixed income investments (e.g. bonds) tends to decrease when interest rates rise.

Distributions & Yields

Most recent distribution payments
Distribution amount
USD0.2979
Declaration Date
30 December 2022
Ex-distribution date
03 January 2023
Payable date
20 January 2023
Yield data as of 28/02/2023
Yield %
3.96
Adjusted yield %
3.33

We recommend that you seek independent financial advice to ensure this Fund is suitable for your investment needs.

All the information contained in this communication is believed to be reliable but may be inaccurate or incomplete. Any opinions stated are honestly held but are not guaranteed and should not be relied upon.

It is not an invitation to make an investment nor does it constitute an offer for sale. Any decision to invest in the Fund should be made after reviewing the full offering documentation, including the Prospectus, which sets out the fund specific risks. Fund prices and English language copies of the Prospectus, annual and semi-annual Report & Accounts, Articles of Incorporation and where relevant, the local language copies of the Key Investor Information Documents (KIID) and Key Information Documents (KID), may be obtained from www.ninetyone.com.

Performance data source: © Morningstar, NAV based, (net of fees, excluding initial charges), total return, in the share class dealing currency. Performance would be lower had initial charges been included as an initial charge of up to 5% (10% for S shares) may be applied to your investment. This means that for an investment of $1,000, where the initial charge equals 5%, $950 ($900 for S shares) would actually be invested in the Fund. Returns to individual investors will vary in accordance with their personal tax status and tax domicile.

PRIIPs Performance scenarios and Risk Profile SRI data source: Broadridge Ireland Limited.

Morningstar Analyst rating™: Copyright © 2022. Morningstar. All Rights Reserved. The information, data and opinions expressed and contained herein are proprietary to Morningstar and/or its content providers and are not intended to represent investment advice or recommendation to buy or sell any security; are not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this Rating, Rating Report or Information contained therein.

The overall rating for a fund, often called the ‘star rating’, is a third party rating derived from a quantitative methodology that rates funds based on an enhanced Morningstar™ Risk-Adjusted Return measure. ‘Star ratings’ run from 1 star (lowest) to 5 stars (highest) and are reviewed at the end of every calendar month. The various funds are ranked by their Morningstar™ Risk-Adjusted Return scores and relevant stars are assigned. It is important to note that individual shareclasses of each fund are evaluated separately and their ratings may differ depending on the launch date, fees and expenses relevant to the shareclass. In order to achieve a rating the share class of a fund must have a minimum three-year performance track record.

For a full description of the ratings, please see our ratings guide. A rating is not a recommendation to buy, sell or hold a fund.

The portfolio may change significantly over a short period of time. This is not a buy or sell recommendation for any particular security. Figures may not always sum to 100 due to rounding. 

For an explanation of statistical terms, please see our glossary.

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