The strategy primarily invests in euro investment grade corporate bonds, and measures its performance against a conventional corporate bond benchmark.
Access attractive opportunities
The strategy can dynamically allocate across credit markets, enabling it to respond to changing market opportunities.
Flexibility to allocate across markets
The strategy aims for financial returns while taking long-term environmental and social themes into account, with net-zero goals embedded in its approach.
Responsible investment approach
Fund activity
Fund activity focused on maintaining high liquidity while selectively adding value where compensation was attractive. Activity was concentrated in shorter-dated maturities, although fixed-rate additions were made out to six months, including National Australia Bank and BRED Banque. The Fund also added marginal floating-rate exposure, including Sumitomo Mitsui Banking Corporation three-year paper. In the AAA securitised space, additions included German card issuer Advanzia, a two-year CARS auto deal and First Ireland Auto securitisation. Performance was ahead of benchmark, supported by stabilising rate markets and spread retracement in floating-rate assets.
Fund activity
Fund activity focused on maintaining high liquidity while selectively adding value where compensation was attractive. Activity was concentrated in shorter-dated maturities, although fixed-rate additions were made out to six months, including National Australia Bank and BRED Banque. The Fund also added marginal floating-rate exposure, including Sumitomo Mitsui Banking Corporation three-year paper. In the AAA securitised space, additions included German card issuer Advanzia, a two-year CARS auto deal and First Ireland Auto securitisation. Performance was ahead of benchmark, supported by stabilising rate markets and spread retracement in floating-rate assets.