MUZINICH LONGSHORTCREDITYIELD GBP HEDGED
An absolute return long / short credit strategy investing primarily in the US high yield bond markets.
ANNUAL MANAGEMENT CHARGE
Prices as at 01 Dec 2023.
We don’t currently provide commentary on this fund.
Past performance is not an indication of future performance.
Capital at risk.
|Dividends paid||Accumulation units only|
|Standard Initial Charge||1%|
|Initial Charge Via BestInvest||0%|
|Additional Bid/Offer Spread||0%|
|Annual Management Charge||1%|
|Ongoing Charges Figure||0.85%|
Portfolio construction is based on a four pronged strategy consisting of a long book of core diversified high yield credits designed to capture coupon and capital appreciation, a short book of sector and individual security shorts, a credit arbitrage book of pair trades at the capital structure and between companies, a high quality long short maturity book designed to capture yield with minimal volatility. On account of the high coupon nature of the asset class the strategy is usually between 65%-130% net long. Portfolio downside protection is provided through the arbitrage and short books and by reducing long credit beta across the portfolio. The portfolio risk is managed to ensure diversification, with the aim of reducing single position downside risk to 25bps. Single security shorts are achieved via a total return SWAP with Deutsche Bank.
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Past performance is not a guide to future performance. View full risk warning