Opportunité High Yield 2032
- Fund
- Fixed Income
Product details
NAV price per share
Current
Absolute Performance
Since 1 Year
| 3 months | +4.63% |
| 6 months | N/A |
| Year to date | N/A |
| 1 year | N/A |
| 3 years | N/A |
| 5 years | N/A |
| 10 years | N/A |
| Since inception | +3.55% |
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 adopts a carry strategy aimed at capturing the returns offered by high-yield bonds issued by developed country issuers whose effective maturity is close to the fund’s maturity on 30 June 2032. Subordinated debt from banks and insurance companies are excluded. Securities that are not denominated in EUR are hedged against currency risks.
Management commentary
July was marked by a further escalation of tensions between the US and Iran, triggering a resumption of the rise in oil prices. This reflationary backdrop, coupled with unclear communication from the Fed, weighed on rates and added pressure to steepen the yield curve, with German Bund yields reaching their highest level since 2011 and the US 30-year yield reaching its highest level since 2007. HY risk premiums diverged: they tightened by 5 bps in Europe versus 11 bps in the United States, with Europe being less exposed to AI. Over the month, the HY € fell by 0.34% and the HY $ hedged in EUR by 0.49%.
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