Objective

Investment objective summary

  • The Fund aims to produce a positive total return, consisting of both income and capital gains, in excess of Overnight SOFR over rolling 3 year periods, regardless of market conditions, by investing primarily in debt securities, money market instruments and related derivatives. While the Fund aims to achieve a positive total return in excess of Overnight SOFR there is no guarantee this will be achieved over rolling 3 year periods, or any time period, and invested capital is at risk.
Imran Ahmad
Portfolio Manager
Team
Portfolio Manager
Peter Kent
Co-Head of SA & Africa Fixed Income

Performance & returns

Key facts

  • Domicile

    Luxembourg

  • ISIN

    LU2071385764

  • Risk profile

    2

  • SEDOL

    BKLF4D4

  • CUSIP

    L5447R826

  • Bloomberg code

    INGLBSA LX

  • Benchmark

    Overnight SOFR (LIBOR USD Overnight Rate pre 30/11/2021)

  • Morningstar category sector

    Global Flexible Bond

  • Fund inception date

    20/12/1985

  • Share class inception date

    08/11/2019

  • Minimum investment

    USD100,000,000 / 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
Fund
AAA
0.5
AA
0.4
A
10.1
BBB
10.5
BB
0.9
CCC
0.2
Cash and near cash
77.4
*Bond ratings are Ninety One approximations.

Charges

Maximum initial charge %

10.00

Ongoing charge %

0.16
The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus.

Specific fund risks

Currency exchange

Changes in the relative values of different currencies may adversely affect the value of investments and any related income.

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.

Emerging market (inc. China)

These markets carry a higher risk of financial loss than more developed markets as they may have less developed legal, political, economic or other systems.

Government securities exposure

The Fund may invest more than 35% of its assets in securities issued or guaranteed by a permitted sovereign entity, as defined in the definitions section of the Fund’s prospectus.

Interest rate

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

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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