Flexible Income Fund 83 IIC (US Offshore)

US National Day of Mourning for President Carter – non-dealing day in this fund

Please note we are declaring an additional non-dealing day for this fund. A non-dealing day will be in place on Thursday 9 January 2025, with dealing resuming on Friday 10 January 2025. This is due to the US National Day of Mourning for President Carter, which will see the New York Stock Exchange closed for the day.

Find out more

Quarterly update

Watch the investment team recap this quarter.

Note: Filmed in April 2022

INVESTMENT OBJECTIVE

This dynamic core bond fund utilises a bottom-up, fundamentally driven investment process and dynamic sector allocation, with the aim of generating risk-adjusted outperformance through individual security selection, while seeking to preserve capital over time.

ABOUT THIS FUND

Culture of collaboration, global integration and respectful challenge with a research-first mentality.
Disciplined investment process targets repeatable performance utilizing our structural foundation as a better starting point.
Bottom-up idea generation across a diverse set of return sources, incorporating dynamic allocation through market cycles.

	Cumulative	Annualised
A3m USD (Net)	-1.71	0.56	0.56	-3.94	-1.18	0.16	2.84
A3m USD (Net)	-1.71	0.56	0.56	-3.94	-1.18	0.16	2.84
E2 USD (Net)	-1.83	0.21	0.21	-4.22	-1.45	-	-0.43
E3m USD (Net)	-1.83	0.20	0.20	-4.26	-1.48	-	-0.44
E2 USD (Net)	-1.83	0.21	0.21	-4.22	-1.45	-	-0.43
E3m USD (Net)	-1.83	0.20	0.20	-4.26	-1.48	-	-0.44
A2 USD (Net)	-1.68	0.64	0.64	-3.95	-1.18	0.16	2.79
A2 USD (Net)	-1.68	0.64	0.64	-3.95	-1.18	0.16	2.79
Bloomberg U.S. Aggregate Bond Index	-1.64	1.25	1.25	-2.41	-0.33	1.35	3.78
Bloomberg U.S. Aggregate Bond Index	-1.64	1.25	1.25	-2.41	-0.33	1.35	3.78
Bloomberg U.S. Aggregate Bond Index	-1.64	1.25	1.25	-2.41	-0.33	-	0.89
Bloomberg U.S. Aggregate Bond Index	-1.64	1.25	1.25	-2.41	-0.33	1.35	3.78
Bloomberg U.S. Aggregate Bond Index	-1.64	1.25	1.25	-2.41	-0.33	-	0.89
Bloomberg U.S. Aggregate Bond Index	-1.64	1.25	1.25	-2.41	-0.33	-	0.89
Bloomberg U.S. Aggregate Bond Index	-1.64	1.25	1.25	-2.41	-0.33	1.35	3.78
Bloomberg U.S. Aggregate Bond Index	-1.64	1.25	1.25	-2.41	-0.33	-	0.89
USD Diversified Bond - OE	-1.19	1.82	1.82	-1.42	0.18	1.27	2.99
USD Diversified Bond - OE	-1.19	1.82	1.82	-1.42	0.18	1.27	2.99
USD Diversified Bond - OE	-1.19	1.82	1.82	-1.42	0.18	-	1.03
USD Diversified Bond - OE	-1.19	1.82	1.82	-1.42	0.18	1.27	2.99
USD Diversified Bond - OE	-1.19	1.82	1.82	-1.42	0.18	1.27	2.99
USD Diversified Bond - OE	-1.19	1.82	1.82	-1.42	0.18	-	1.03
USD Diversified Bond - OE	-1.19	1.82	1.82	-1.42	0.18	-	1.03
USD Diversified Bond - OE	-1.19	1.82	1.82	-1.42	0.18	-	1.03

E3m USD (Gross)	-	0.65	-	1.73
A2 USD (Gross)	-	0.69	2.08	4.86
E2 USD (Gross)	-	0.67	-	1.72
A3m USD (Gross)	-	0.68	2.07	4.83
E2 USD (Gross)	-	0.67	-	1.72
A2 USD (Gross)	-	0.69	2.08	4.86
A3m USD (Gross)	-	0.68	2.07	4.83
E3m USD (Gross)	-	0.65	-	1.73
Bloomberg U.S. Aggregate Bond TR + 1.25%	-	0.93	2.62	5.08
Bloomberg U.S. Aggregate Bond TR + 1.25%	-	0.93	2.62	5.08
Bloomberg U.S. Aggregate Bond TR + 1.25%	-	0.93	2.62	5.08
Bloomberg U.S. Aggregate Bond TR + 1.25%	-	0.93	-	2.16
Bloomberg U.S. Aggregate Bond TR + 1.25%	-	0.93	-	2.16
Bloomberg U.S. Aggregate Bond TR + 1.25%	-	0.93	-	2.16
Bloomberg U.S. Aggregate Bond TR + 1.25%	-	0.93	-	2.16
Bloomberg U.S. Aggregate Bond TR + 1.25%	-	0.93	2.62	5.08

Cumulative

Annualised

1MO

YTD

1YR

3YR

5YR

10YR

Since Inception
24/12/1998

A3m USD (Net)

-1.71

0.56

-3.94

-1.18

0.16

2.84

A3m USD (Net)

-1.71

0.56

-3.94

-1.18

0.16

2.84

E2 USD (Net)

-1.83

0.21

-4.22

-1.45

-0.43

E3m USD (Net)

-1.83

0.20

-4.26

-1.48

-0.44

E2 USD (Net)

-1.83

0.21

-4.22

-1.45

-0.43

E3m USD (Net)

-1.83

0.20

-4.26

-1.48

-0.44

A2 USD (Net)

-1.68

0.64

-3.95

-1.18

0.16

2.79

A2 USD (Net)

-1.68

0.64

-3.95

-1.18

0.16

2.79

Bloomberg U.S. Aggregate Bond Index

-1.64

1.25

-2.41

-0.33

1.35

3.78

Bloomberg U.S. Aggregate Bond Index

-1.64

1.25

-2.41

-0.33

1.35

3.78

Bloomberg U.S. Aggregate Bond Index

-1.64

1.25

-2.41

-0.33

0.89

Bloomberg U.S. Aggregate Bond Index

-1.64

1.25

-2.41

-0.33

1.35

3.78

Bloomberg U.S. Aggregate Bond Index

-1.64

1.25

-2.41

-0.33

0.89

Bloomberg U.S. Aggregate Bond Index

-1.64

1.25

-2.41

-0.33

0.89

Bloomberg U.S. Aggregate Bond Index

-1.64

1.25

-2.41

-0.33

1.35

3.78

Bloomberg U.S. Aggregate Bond Index

-1.64

1.25

-2.41

-0.33

0.89

USD Diversified Bond - OE

-1.19

1.82

-1.42

0.18

1.27

2.99

USD Diversified Bond - OE

-1.19

1.82

-1.42

0.18

1.27

2.99

USD Diversified Bond - OE

-1.19

1.82

-1.42

0.18

1.03

USD Diversified Bond - OE

-1.19

1.82

-1.42

0.18

1.27

2.99

USD Diversified Bond - OE

-1.19

1.82

-1.42

0.18

1.27

2.99

USD Diversified Bond - OE

-1.19

1.82

-1.42

0.18

1.03

USD Diversified Bond - OE

-1.19

1.82

-1.42

0.18

1.03

USD Diversified Bond - OE

-1.19

1.82

-1.42

0.18

1.03

Annualised

3YR

5YR

10YR

Since Inception
24/12/1998

E3m USD (Gross)

0.65

1.73

A2 USD (Gross)

0.69

2.08

4.86

E2 USD (Gross)

0.67

1.72

A3m USD (Gross)

0.68

2.07

4.83

E2 USD (Gross)

0.67

1.72

A2 USD (Gross)

0.69

2.08

4.86

A3m USD (Gross)

0.68

2.07

4.83

E3m USD (Gross)

0.65

1.73

Bloomberg U.S. Aggregate Bond TR + 1.25%

0.93

2.62

5.08

Bloomberg U.S. Aggregate Bond TR + 1.25%

0.93

2.62

5.08

Bloomberg U.S. Aggregate Bond TR + 1.25%

0.93

2.62

5.08

Bloomberg U.S. Aggregate Bond TR + 1.25%

0.93

2.16

Bloomberg U.S. Aggregate Bond TR + 1.25%

0.93

2.16

Bloomberg U.S. Aggregate Bond TR + 1.25%

0.93

2.16

Bloomberg U.S. Aggregate Bond TR + 1.25%

0.93

2.16

Bloomberg U.S. Aggregate Bond TR + 1.25%

0.93

2.62

5.08

	YTD	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
A3m USD (Net)	0.56	0.56	3.97	-15.23	-2.31	8.85	7.96	-2.31	2.23	1.10	-1.09
A3m USD (Net)	0.56	0.56	3.97	-15.23	-2.31	8.85	7.96	-2.31	2.23	1.10	-1.09
E2 USD (Net)	0.21	0.21	3.66	-15.41	-2.58	8.58	7.57	-2.53	1.96	-3.00
A2 USD (Net)	0.64	0.64	3.88	-15.24	-2.33	8.89	7.90	-2.23	2.18	1.15	-1.14
E3m USD (Net)	0.20	0.20	3.65	-15.50	-2.53	8.50	7.63	-2.49	1.97	-2.98
A2 USD (Net)	0.64	0.64	3.88	-15.24	-2.33	8.89	7.90	-2.23	2.18	1.15	-1.14
E2 USD (Net)	0.21	0.21	3.66	-15.41	-2.58	8.58	7.57	-2.53	1.96	-3.00
E3m USD (Net)	0.20	0.20	3.65	-15.50	-2.53	8.50	7.63	-2.49	1.97	-2.98
Bloomberg U.S. Aggregate Bond Index	1.25	1.25	5.53	-13.01	-1.54	7.51	8.72	0.01	3.54	2.65	0.55
Bloomberg U.S. Aggregate Bond Index	1.25	1.25	5.53	-13.01	-1.54	7.51	8.72	0.01	3.54	2.65	0.55
Bloomberg U.S. Aggregate Bond Index	1.25	1.25	5.53	-13.01	-1.54	7.51	8.72	0.01	3.54	2.65	0.55
Bloomberg U.S. Aggregate Bond Index	1.25	1.25	5.53	-13.01	-1.54	7.51	8.72	0.01	3.54	-2.69
Bloomberg U.S. Aggregate Bond Index	1.25	1.25	5.53	-13.01	-1.54	7.51	8.72	0.01	3.54	-2.69
Bloomberg U.S. Aggregate Bond Index	1.25	1.25	5.53	-13.01	-1.54	7.51	8.72	0.01	3.54	2.65	0.55
Bloomberg U.S. Aggregate Bond Index	1.25	1.25	5.53	-13.01	-1.54	7.51	8.72	0.01	3.54	-2.69
Bloomberg U.S. Aggregate Bond Index	1.25	1.25	5.53	-13.01	-1.54	7.51	8.72	0.01	3.54	-2.69
USD Diversified Bond - OE	1.82	1.82	4.75	-10.17	-1.50	6.92	7.66	-1.19	4.08	2.23	-0.63
USD Diversified Bond - OE	1.82	1.82	4.75	-10.17	-1.50	6.92	7.66	-1.19	4.08	2.23	-0.63
USD Diversified Bond - OE	1.82	1.82	4.75	-10.17	-1.50	6.92	7.66	-1.19	4.08	-2.38
USD Diversified Bond - OE	1.82	1.82	4.75	-10.17	-1.50	6.92	7.66	-1.19	4.08	-2.38
USD Diversified Bond - OE	1.82	1.82	4.75	-10.17	-1.50	6.92	7.66	-1.19	4.08	-2.38
USD Diversified Bond - OE	1.82	1.82	4.75	-10.17	-1.50	6.92	7.66	-1.19	4.08	2.23	-0.63
USD Diversified Bond - OE	1.82	1.82	4.75	-10.17	-1.50	6.92	7.66	-1.19	4.08	-2.38
USD Diversified Bond - OE	1.82	1.82	4.75	-10.17	-1.50	6.92	7.66	-1.19	4.08	2.23	-0.63

YTD

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

A3m USD (Net)

0.56

3.97

-15.23

-2.31

8.85

7.96

-2.31

2.23

1.10

-1.09

A3m USD (Net)

0.56

3.97

-15.23

-2.31

8.85

7.96

-2.31

2.23

1.10

-1.09

E2 USD (Net)

0.21

3.66

-15.41

-2.58

8.58

7.57

-2.53

1.96

-3.00

A2 USD (Net)

0.64

3.88

-15.24

-2.33

8.89

7.90

-2.23

2.18

1.15

-1.14

E3m USD (Net)

0.20

3.65

-15.50

-2.53

8.50

7.63

-2.49

1.97

-2.98

A2 USD (Net)

0.64

3.88

-15.24

-2.33

8.89

7.90

-2.23

2.18

1.15

-1.14

E2 USD (Net)

0.21

3.66

-15.41

-2.58

8.58

7.57

-2.53

1.96

-3.00

E3m USD (Net)

0.20

3.65

-15.50

-2.53

8.50

7.63

-2.49

1.97

-2.98

Bloomberg U.S. Aggregate Bond Index

1.25

5.53

-13.01

-1.54

7.51

8.72

0.01

3.54

2.65

0.55

Bloomberg U.S. Aggregate Bond Index

1.25

5.53

-13.01

-1.54

7.51

8.72

0.01

3.54

2.65

0.55

Bloomberg U.S. Aggregate Bond Index

1.25

5.53

-13.01

-1.54

7.51

8.72

0.01

3.54

2.65

0.55

Bloomberg U.S. Aggregate Bond Index

1.25

5.53

-13.01

-1.54

7.51

8.72

0.01

3.54

-2.69

Bloomberg U.S. Aggregate Bond Index

1.25

5.53

-13.01

-1.54

7.51

8.72

0.01

3.54

-2.69

Bloomberg U.S. Aggregate Bond Index

1.25

5.53

-13.01

-1.54

7.51

8.72

0.01

3.54

2.65

0.55

Bloomberg U.S. Aggregate Bond Index

1.25

5.53

-13.01

-1.54

7.51

8.72

0.01

3.54

-2.69

Bloomberg U.S. Aggregate Bond Index

1.25

5.53

-13.01

-1.54

7.51

8.72

0.01

3.54

-2.69

USD Diversified Bond - OE

1.82

4.75

-10.17

-1.50

6.92

7.66

-1.19

4.08

2.23

-0.63

USD Diversified Bond - OE

1.82

4.75

-10.17

-1.50

6.92

7.66

-1.19

4.08

2.23

-0.63

USD Diversified Bond - OE

1.82

4.75

-10.17

-1.50

6.92

7.66

-1.19

4.08

-2.38

USD Diversified Bond - OE

1.82

4.75

-10.17

-1.50

6.92

7.66

-1.19

4.08

-2.38

USD Diversified Bond - OE

1.82

4.75

-10.17

-1.50

6.92

7.66

-1.19

4.08

-2.38

USD Diversified Bond - OE

1.82

4.75

-10.17

-1.50

6.92

7.66

-1.19

4.08

2.23

-0.63

USD Diversified Bond - OE

1.82

4.75

-10.17

-1.50

6.92

7.66

-1.19

4.08

-2.38

USD Diversified Bond - OE

1.82

4.75

-10.17

-1.50

6.92

7.66

-1.19

4.08

2.23

-0.63

Asset class	Fixed Income
Product Structure	Irish Investment Company
Inception Date	Dec 24, 1998
Base Currency	USD
Fund Assets As of 31/12/24	$523.85M
Sector	Morningstar USD Diversified Bond
Benchmark	Bloomberg US Aggregate Bond Index
Year End	31-Dec

Flexible Income Fund

Overview

US National Day of Mourning for President Carter – non-dealing day in this fund

Quarterly update

INVESTMENT OBJECTIVE

ABOUT THIS FUND

Portfolio Management

Performance

Portfolio

Documents

Adjusting the recipe: What’s the right mix for balanced portfolios in 2025?

Global Perspectives: Finding balance in a shifting market landscape

How are companies navigating higher debt levels: latest study

Flexible Income Fund

Overview

US National Day of Mourning for President Carter – non-dealing day in this fund

Quarterly update

INVESTMENT OBJECTIVE

ABOUT THIS FUND

Portfolio Management

Performance

Portfolio

Documents

Related Insights

Adjusting the recipe: What’s the right mix for balanced portfolios in 2025?

Global Perspectives: Finding balance in a shifting market landscape

How are companies navigating higher debt levels: latest study