Ratings and awards

Morningstar 5 Star

Investment objective

Overview

  • The fund boasts a diversified portfolio of Euro and Sterling denominated sub investment grade corporate bonds.
  • It focuses on identifying the best risk-return prospects within the European high yield corporate bond market.
  • The managers take into account the macroeconomic outlook, using internal as well as external research. Factors such as the economic environment, corporate health, and market dynamics are all considered.

The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.

Potential investors must read the prospectus, and where relevant, the key investor information document before investing.

Before you invest

Share class:

Key documents

All documents
Performance

Past performance is not a guide to future performance. All performance data includes both income and capital gains or losses but does not reflect any ongoing charges or other fund expenses.

Discrete performance

Cumulative performance

Top 10 holdings
Geographic breakdown
Sector breakdown
Dividends
Key data

General risks
  • ​The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • ​Past performance is not a guide to future performance.
  • ​For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved, you may wish to consult a financial adviser.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
Specific risks
  • If you invest in a share class denominated in a currency other than the fund’s base currency you are subject to foreign exchange fluctuations that may affect the value of your investment.
  • This fund is designed to be used only as one component in several in a diversified investment portfolio. Investors should consider carefully the proportion of their portfolio invested into this fund.
  • The fund will be subject to the risk of a counterparty being unable to perform its obligations with respect to transactions, whether due to insolvency, bankruptcy or other causes. The investment manager assesses the creditworthiness of counterparties as part of the risk management process.
  • Currency markets are highly volatile by nature and are affected by various factors such as political/economic developments, changes in tax/ monetary policies of governments, balance of payments, international trade patterns and liquidity in the currency markets. Currency investments may result in the possibility of greater loss, increased transaction costs and greater volatility in the NAV of the Sub-Fund
  • Investments in fixed income instruments are subject to default/credit risk of the issuers, interest rate risk as bond prices move inversely to changes in interest rates and liquidity risk when there is low liquidity in the secondary bond market.
  • In certain market conditions, investments held by the Fund may not be as liquid as they would be in normal circumstances. A reasonable price may be harder to attain in such conditions and there is a risk that the price at which the investment is valued may not be realisable in the event of sale. The Fund may therefore be unable to readily sell such investment.
  • Where share class hedging is undertaken, the Investment Manager may use financial swaps, futures, forward currency exchange contracts, options and other derivative transactions in order to preserve the value of the hedged share class currency against the base currency of the Sub- Fund. The effects of the hedging will be reflected in the net asset value of the hedged share class. Any expenses arising from such hedging transactions will be borne by the share class in relation to which they have been incurred and will thereby impact on the performance of that share class. Where such hedging is undertaken it may substantially protect investors against a decrease in the value of the base currency of the Sub-Fund.
  • The fund may use leverage as part of its investment strategy. As a result profits and losses incurred by the fund can be greater than those of a fund that does not use leverage.

Announcements