NN (L) Euro Credit (X Cap)

27/06/2022
161,13
Investment Scope

The fund primarily invests in a diversified portfolio of corporate bonds of high quality denominated in Euro (with a rating of AAA to BBB-). The fund may invest a limited percentage in corporate bonds with a higher risk and therefore with a higher interest rate (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. 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 bond selection. We combine our analysis on specific issuers of corporate bonds with a broader market analysis to construct the optimal portfolio. We aim to exploit differences in valuations of the companies issuing the bonds within sectors 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 %)
EUR1y3y5y
Fund-9,27-5,54-3,25
Share Class Benchmark-8,85-4,87-1,33

Reference Date 31.05.2022
Προφίλ Κινδύνου
1234567

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 underlying investments is medium. The Sub-Fund’s liquidity risk is set to medium. Liquidity risks may 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:
LU0546918409
Currency:
EUR
Unit Class:
X CAP
Asset Class:
Fixed Income
Region:
Europe