NN (L) Euro Sustainable Credit (excluding Financials) - X Cap EUR

Investment Scope

The fund is classified as a financial product with a sustainable investment objective as described in Article 9 of EU Sustainable Finance Disclosure Regulation. The fund invests predominantly in euro-denominated debt securities and Money Market Instruments from issuers pursuing sustainable development while taking into account environmental, social and governance principles. To determine our eligible sustainable universe, companies are screened using exclusionary screening. Companies with serious and structural issues concerning controversial behavior are excluded. We do not invest in issuers involved in activities including but not limited to, the development, production, maintenance or trade of controversial weapons, the production of tobacco products, thermal coal mining and/or oil sands production.

Further, more stringent restrictions are applicable for investments in issuers involved in activities related to gambling, weapons, adult entertainment, fur & specialty leather, Arctic drilling and shale oil & gas. The fund primarily invests in a diversified portfolio of corporate bonds (excluding financials) of high quality denominated in Euro (with a rating of AAA to BBB-). The fund may invest a limited percentage in financials and in corporate bonds with a higher risk and therefore with a higher yield (with a quality rating lower than BBB-). Measured over a period of several years we aim to beat the performance of the benchmark Bloomberg Barclays Euro Aggregate Corporate ex Financials. The benchmark is a broad representation of our investment universe.

The fund can also include bonds that are not part of the benchmark universe. We actively manage the fund with a focus on company selection. Our selection process involves both financial analysis and ESG (Environmental, Social and Governance) analysis. In the selection process, the focus of the analysis is on companies that pursue a policy of sustainable development next to their financial targets. We combine this analysis with a broader market analysis to construct the optimal portfolio. We aim to exploit differences in bond valuations of companies within a sector and differences in valuations between sectors and different quality segments (ratings). Therefore the fund positioning can materially deviate from the benchmark. As issuer specific risk is an important driver of performance, we subject all issuers in the investable universe to an in-depth analysis of business and financial risk. For risk management purposes, issuer, sector and rating deviation limits are maintained relative to the benchmark. You can sell your participation in this fund on each (working) day on which the value of the units is calculated, which for this fund occurs daily. The fund does not aim to provide you with a dividend. It will reinvest all earnings.

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Past returns do not predict future returns
Historical NAV
Calendar Year Performance (NET %)
Cumulative Performance (ΝΕΤ %)
Share Class Benchmark-9,47-6,92-0,30

Reference Date 31.07.2022
Προφίλ Κινδύνου

Historical data, such as is used for calculating this indicator, may not be a reliable indication of the future risk profile of this fund. There is no guarantee that the risk indicator will remain unchanged, it may shift over time. The lowest category of risk does not mean that the investment is riskfree. This fund is in this specific risk category because of the behaviour of the product during the measuring period.

The overall market risk, taking into account past performances and future potential evolution of the markets, associated with bonds used to reach the investment objective is considered medium.These financial instruments are impacted by various factors. These include, but  are not limited to, the development of the financial market, the economic development of issuers of these financial instruments who are themselves affected by the general world economic situation and the economic and political conditions in each country. Expected credit risk, the risk of failure of the issuers of underlying investments is medium. The Sub-Fund’s liquidity risk is set to medium. Liquidity risks arise when a specific underlying investment is difficult to sell. Moreover, currency fluctuation may impact highly the Sub-Fund’s performance. No guarantee is provided as to the recovery of the initial investment.

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Practical Info
ISIN Code:
Unit Class:
Asset Class:
Fixed Income