Opportunité High Yield 2028
- Fund
- Fixed Income
- Global
- High Yield
Product details
NAV price per share
Current
Absolute Performance
Since 1 Year
| 3 months | N/A |
| 6 months | N/A |
| Year to date | +1.43% |
| 1 year | +3.37% |
| 3 years | +24.22% |
| 5 years | +29.19% |
| 10 years | N/A |
| Since inception | +41.46% |
Past performance is not a reliable indicator of future results. Data is provided with all reasonable care but without guarantee of completeness, accuracy or future performance.
Strategy
The fund is a buy & hold international bonds fund. Its objective is to catch the return of speculative (“High-Yield”) rated bonds fund whose maturity is close to the termination date of the funds June, 30th 2023. Banking and insurance subordinated debts are excluded. USD and GBP denominated securities are hedged against currency risk.
Management commentary
The decline in Brent (USD 92 to USD 73), linked to the prospects of a de-escalation in the Middle East, reduced inflation fears in June. Despite the ECB’s 25 bps hike, German five- and ten-year rates fell by 4 bps and 8 bps, respectively. By contrast, US rates rose, especially at the short end (+17 bps over the two-year period), driven by a strong labour market and the Fed’s more hawkish tone. Risk premiums remained stable (+2 bps in Europe, +3 bps in the United States), with the riskiest segments outperforming. The HY€ gained +0.66%, while the HY$ (+0.13% hedged) remained positive thanks to carry.
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