DNCA Invest
Alpha Bonds

Absolute return bond Fund

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At 2018-04-19

NAV

101.77€

Risk indicator

Year-to-date performance

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Annualized performance
since inception

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Performance 

2017

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Volatility over 1 year

-

Recommended minimum investment horizon

3 Years

Net assets
(At 2018-03-29)

357M€

Inception date

2017-12-14
Past performance is not an indicator of future performance
Management fees are included in performance. The performances are calculated net of any fees by DNCA FINANCE.
This is not a capital guarantee fund

Fund Managers

Pascal Gilbert

Pascal Gilbert began his career in 1987 at Banque Fédérative du Crédit Mutuel as a prop trader. In 1998 Pascal joined Banque de Financement et de Trésorerie where as Head of Eurozone bond portfolio management. He then joined La Française in 2001 as Head of bond funds, he was in charge of a team of seven and he managed more than €15bn, including the Multistratégies Obligataires Fund which was rated 5 stars by Morningstar. He was ranked AAA by Citywire.

In September 2017, Pascal Gilbert joined DNCA Finance.

François Collet

François Collet began his career in 2003 at Natixis Asset Management as a bond fund manager. He managed Natixis Oblivariable and set up Natixis Euro Inflation. In 2006, François joined La Française as Deputy Head of bond portfolio management, he was more particularly in charge of the inflation theme. He managed five bond strategies with total assets under management of €2.6bn, including the Euro Inflation Fund which was rated 5 stars by Morningstar. He received a Lipper award in 2013.

In September 2017, François Collet joined DNCA Finance.

Performances

For legal reasons, we can not post the performance of the sub-fund

Briefly

The investment process is made of the combination of strategies including:
- a short/long directional strategy aiming to optimise the performance of the portfolio based on interest rate and inflation expectations;
- an interest rate curve strategy aiming to exploit the variations of the spreads between long-term rates and short-term rates;
- an arbitrage strategy aimed at seeking the relative value on various bond asset classes;
- a credit strategy founded on the usage of bonds issued by the private sector.
The modified duration of the Sub-Fund will stay between -3 and +7, without any restriction on the modified duration of individual securities in the Sub-Fund.

What objective?

The Sub-Fund seeks to provide, throughout the recommended investment period of more than three years, a higher performance, net of any fees, than the EONIA Index Plus 2.5%. This performance objective is sought by associating it to a lower annual volatility than 5% in normal market conditions. Investors’ attention is drawn to the fact that the management style is discretionary.

What breakdown?

The Sub-Fund will at all times invest at least 75% of its total assets in bonds of any credit quality and in any currency from OECD issuers.
The Sub-Fund mainly invests in fixed rate, floating rate or inflation-indexed debt securities and negotiable debt within the following limits:
- Convertible or exchangeable bonds : up to 100% of its total assets,
- Contingent convertible bonds (Coco Bonds) : at most 20% of its total assets,
- Equities (through exposure from convertible bonds, synthetic convertibles bonds or options on future equity market): up to 10% of the Sub-Fund’s asset may be exposed to the stock market.
The Sub-Fund may invest up to 10% of its net assets in units and/or shares of UCITS and/or AIFs.
The Sub-Fund will use all types of eligible derivatives instruments traded on regulated or OTC markets when these contracts are better suited to the management objective or offer lower trading costs. These instruments may include, but are not restricted to: futures, options, swaps, CDS on indices, CDS.

For what type of investor?

The Sub-Fund is intended primarily for investors seeking a means to diversify their bond investments.

Which characteristics?

Pricing : Daily
Fund Legal Type : SICAV mutual fund governed by Luxembourg law
Country Of Domicile : LU
Min Subscription Amount : None (Share ND) None (Share AD) None (Share ID) None (Share H-I - CHF) 2,500 € (Share A) None (Share SI) 200,000 € (Share I) None (Share N) None (Share B)
Min Subscription Shares : None (Share ND) None (Share AD) None (Share ID) None (Share H-I - CHF) None (Share A) None (Share SI) None (Share I) None (Share N) None (Share B)
Subscription Fees : 3% max

Legal information

The above information is not a confirmation of any transaction and does not comprise investment advice. Past performances are not a reliable indicator of future performances. Management fees are included in performances. Access to products and services presented may be restricted regarding certain persons or countries. Tax treatment depends on the individual situation of each investor. For full information regarding strategies and fees, please refer to the prospectus, KIID documents and other regulatory information available on this website or free of charge on demand from the investment management company’s registered offices.