Fixed Income Boutique Flexible Bonds

Vontobel Fund - Value Bond

ISIN
LU0278084842
Valor
2870613

Fund strategy

Investment objective

This bond fund aims to generate positive investment returns over a full economic cycle, while respecting risk diversification.


Key features

The fund invests across both developed and emerging markets mainly in government and corporate bonds of diverse qualities with different maturities in various currencies. The fund uses derivative financial instruments both for hedging purposes and to gain selective exposures to interest rates, credit spreads as well as currencies.


Approach

The investment team's seasoned specialists continuously assess market conditions and future developments based on macro-economic, technical and valuation analyses. Accordingly, they allocate interest rate, credit and currency risks striving to capture profitable market evolutions and keep the fund's vulnerability to unfavorable markets low. Based on in-depth analysis at issuer level, they select those securities and instruments within the investment universe whose yield and/or hedging values convince them the most. The team flexibly adapts the portfolio to seize attractive opportunities whenever they occur.

110.74
NAV
0.97%
Performance YTD
As at Aug 04 2020

All data is as at Jun 30 2020 unless otherwise indicated.

Daily Performance

Periodic Performance

1M YTD 3Y 5Y SI
I CHF 1.4% 0.0% 1.1% 0.1% 9.7%

Rolling Performance

Jul 01 2015 - Jun 30 2016 Jul 01 2016 - Jun 30 2017 Jul 01 2017 - Jun 30 2018 Jul 01 2018 - Jun 30 2019 Jul 01 2019 - Jun 30 2020
I CHF -1.6% -1.3% -0.7% 2.7% 1.3%

Annual Performance

Risk Data

Portfolio
Volatility 5.7%
Sharpe ratio 0.3
Modified duration 2.5
Average maturity 4.5
Average coupon 2.9%
Yield to maturity 2.1%
[3 years annualized]
Past performance is not a reliable indicator of current or future performance. Performance data does not take into account any commissions and costs charged when shares of the fund are issued and redeemed, if applicable. The return of the fund may go down as well as up due to changes in rates of exchange between currencies. The value of the money invested in the fund can increase or decrease and there is no guarantee that all or part of your invested capital can be redeemed.

All data is as at Aug 04 2020 unless otherwise indicated.

Fund data
Portfolio Manager Ludovic Colin
Fund Domicile Luxembourg
Fund Currency CHF
Share Class Currency CHF
End of fiscal year 31 August
Share Class Launch date Jan 07 2009
Distribution type Accum
Swinging single pricing Yes
Fund Registrations AT, CH, DE, ES, GB, IT, LI, LU, NL, PT, SE, SG
Share Class Registrations AT, CH, DE, IT, LI, LU, SG
Nav Information
Highest since launch 113.31
Lowest since launch 98.43
Fund volume in mln. CHF 72.14
Share class volume in mln. CHF 0.41
Fees And Expenses
Management fee 0.22%
Performance fee 10.00%
TER 0.84% (Feb 28 2020)
Identifiers
ISIN LU0278084842
Valor 2870613
Bloomberg VONABRI LX
WKN A0MKG6
Parties
Depository RBC Investor Services Bank S.A.
Management Company Vontobel Asset Management S.A.
Swiss Paying Agent Bank Vontobel AG
Swiss Representative Vontobel Fonds Services AG

Available Share Classes

Share class Currency ISIN Distrib. Type Launch date Management fee TER TER Date
A CHF LU0218908985 Dist Retail Jul 01 2005 0.34% 0.66% Feb 28 2020
AN CHF LU1683482746 Dist Retail Oct 05 2017 0.22% 0.76% Feb 28 2020
B CHF LU0218909108 Accum Retail Jul 01 2005 0.34% 0.66% Feb 28 2020
I CHF LU0278084842 Accum Institutional Jan 07 2009 0.22% 0.84% Feb 28 2020
N CHF LU1683480377 Accum Retail Oct 02 2017 0.22% 0.86% Feb 28 2020
S CHF LU0571089084 Accum Institutional May 31 2011 0.00% 0.21% Feb 28 2020
Click here to see an overview of our shareclass naming convention.

* TER includes performance fee where applicable

All data is as at Jun 30 2020 unless otherwise indicated.

Rating Structure

Absolute Currency Exposure

Major bond positions

Bond Allocation
1.35% Republic of Italy Government International Bond 2022 2.6%
5.7% CP - Comboios de Portugal EPE 2030 2.1%
6.5% Petroleos Mexicanos 2041 2.0%
0.1% Federal Republic of Germany 2023 1.8%
1.3% Spain Government Bond 2026 1.6%
3.625% Standard Chartered PLC 2022 1.6%
4.875% Bulgarian Energy Holding EAD 2021 1.6%
6.625% Barclays Bank Plc London 2022 1.6%
1.125% BPCE SA 2023 1.5%
1.125% CaixaBank SA 2023 1.5%
Document Date DE EN ES FR IT
Factsheets & Commentaries
Factsheet Jun 2020
Monthly Commentary Jun 2020
KIIDs
KIID Jun 2020
Legal Documents
Articles of Association Apr 2016
Notification to Investors Jan 2020
Sales Prospectus Dec 2019
Financial Reports
Annual Report Aug 2019
Dividend Payout Jan 2019
Semi-Annual Report Feb 2020
Dealing Information
Holiday Calendar 2020 Jan 2020
List of Active Retail Share Classes Dec 2018
Policies
Sanctioned Countries Sep 2016
Shareclass Naming Convention Nov 2019
  • Limited participation in the potential of single securities

  • Success of single security analysis and active management cannot be guaranteed

  • It cannot be guaranteed that the investor will recover the capital invested

  • Derivatives entail risks relating to liquidity, leverage and credit fluctuations, illiquidity and volatility

  • Interest rates may vary, bonds suffer price declines on rising interest rates

  • Investments in foreign currencies are subject to currency fluctuations

Morningstar rating: © 2020 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.