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For investors in Hong Kong

Multi-Sector Income Fund

For investors seeking a steady stream of high income with lower risk than a dedicated high-yield strategy.

ISIN
IE00BJVNH100

NAV
USD 11.02
As of 2024/11/20

1-Day Change
USD 0.00 (0.00%)
 As of 2024/11/20

Key investment risks:

  • The Fund invests in debt securities/ preference shares (including below investment grade or unrated) and asset/ mortgage-backed securities; and is subject to greater interest rate, credit/ counterparty, volatility, liquidity, downgrading, valuation, credit rating risks. It may be more volatile.
  • Investments in the Fund involve general investment,

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  • currency, hedging, economic, political, policy, foreign exchange, liquidity, tax, legal, regulatory, securities financing transactions related and preference shares related risks. In extreme market conditions, you may lose your entire investment.
  • The Fund may invest in financial derivatives instruments for investment and efficient portfolio management purposes. This may involve counterparty, liquidity, leverage, volatility, valuation, over-the-counter transaction, credit, currency, index, settlement default and interest risks; and the Fund may suffer total or substantial losses.
  • The Fund's investments are concentrated in US issuers and may be more volatile.
  • The Fund may at its discretion pay dividends (i) pay dividends out of the capital of the Fund, and/ or (ii) pay dividends out of gross income while charging all or part of the fees and expenses to the capital of the Fund, resulting in an increase in distributable income available for the payment of dividends by the Fund and therefore, the Fund may effectively pay dividends out of capital. This may result in an immediate reduction of the Fund’s net asset value per share, and it amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment.
  • Investors should not only base on this document alone to make investment decisions and should read the offering documents including the risk factors for further details.

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Overview

INVESTMENT OBJECTIVE

The Fund aims to seek a high income with the potential for some capital growth over the long term.

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The Fund invests at least 70% of its assets in US issuers in a global multi-sector portfolio of debt securities of any quality, including asset-backed and mortgage-backed securities, high-yield securities, including non-investment grade or unrated securities, issued by governments, companies or any other type of issuer.

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ABOUT THIS FUND

  • A dynamic, multi-sector income fund that seeks high, current income with lower volatility than a dedicated high-yield strategy.
  • Leverages bottom-up, fundamental analysis to focus on identifying the best risk-adjusted returns across fixed income sectors.
  • Typically holds 35% to 65% in below-investment-grade bonds.

Portfolio Management

Seth Meyer, CFA
Seth Meyer, CFA

Global Head of Client Portfolio Management | Portfolio Manager

Industry since 1998. Joined Firm in 2004.

John Kerschner, CFA
John Kerschner, CFA

Head of US Securitised Products | Portfolio Manager

Industry since 1990. Joined Firm in 2010.

John Lloyd
John Lloyd

Lead, Multi-Sector Credit Strategies | Portfolio Manager

Industry since 1998. Joined Firm in 2005.

Colin Fleury
Colin Fleury

Head of Secured Credit | Portfolio Manager

Industry since 1986. Joined Firm in 2007.

Performance

Cumulative Performance (%)
As of 2024/10/31
H2 USD (Net) Bloomberg U.S. Aggregate Bond Index USD Flexible Bond - OE
 
  Cumulative
  1MO 3MO 6MO YTD 1YR 3YR 5YR Since Inception
2019/12/04
H2 USD (Net) -0.99 1.48 6.09 5.88 13.31 1.76 - 9.80
Bloomberg U.S. Aggregate Bond Index -2.48 0.25 5.31 1.86 10.55 -6.46 - -1.08
USD Flexible Bond - OE -1.52 1.05 4.83 4.38 11.19 0.03 - 7.75
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
Calendar Year Returns (%)
As of 2024/09/30
H2 USD (Net) Bloomberg U.S. Aggregate Bond Index USD Flexible Bond - OE
2023 2022 2021 2020 Performance Inception
2019/12/04
H2 USD (Net) 8.93 -12.01 2.46 5.07 0.50
Bloomberg U.S. Aggregate Bond Index 5.53 -13.01 -1.54 7.51 -0.05
USD Flexible Bond - OE 6.07 -9.38 -0.24 6.86 0.74
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
Fee Information
Initial Charge 0.00%
Annual Charge 0.60%
Ongoing Charge
(As of 2023/12/31) 		0.71%
The ongoing charge is calculated using the Packaged Retail Investment Product (PRIIPs) methodology. The PRIIPs methodology differs to the UCITS ongoing charge methodology, as the PRIIPS methodology captures additional recurring charges, including but not limited to: a. Interest paid on borrowing (e.g. bank interest) b. Any fees incurred in relation to stock-lending activity (i.e. the fee paid to the lending agent) c. Any costs associated with holding closed-ended vehicles.
Please refer to the offering documents for more details on the fees and expenses.

Documents

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