AH Credit UCITS Index
The Alternative UCITS Credit sector is one of the more difficult areas to develop a consistent analytical framework for, given the multiple dimensions across which credit funds can operate. Examples include the instruments they trade (sovereigns, corporate cash, etc), their sensitivity to factors such as duration, credit spreads, etc, and their targetted outcomes. With the express aim of capturing the wide breadth of sectors which are at the disposal of credit managers, we have developed a classification approach which clusters funds into five main sub-categories:
1) Corporate Long/Short: this cohort of managers attempt to generate alpha predominantly from fundamental long and short positions in corporate credit. Despite the diversity of investment styles (Directional, Market Neutral) the majority of funds in this sub-category uses cash bonds, CDS, and derivatives on credit indices, and seek to generate alpha from these positions.
2) Multi-Sector Credit: a Multi-Sector, and often Multi-Strategy, approach to global credit investing. Although fundamental analysis remains important, asset allocation remains a core driver of returns for these funds, with managers dynamically allocating capital to the most attractive risk-adjusted opportunities, depending on the prevailing macro environment.
3) Alternative Credit: this is, by far, the most diverse set of funds and includes those trading specialist sub-categories of the credit universe, typically from the long side. Examples include Structured Credit (ABS, CLOs, etc), Insurance Linked Securities (ILS) and Emerging Market Debt (EMD).
4) Fixed Income Arbitrage: this relatively small cohort of funds includes specialist managers who run pure RV fixed income strategies, where performance is predominately driven by the manager’s ability to exploit pricing relationships, e.g. curves’ trades, correlation trades and capital structure trades, etc.
5) Convertible Bonds: managers attempt to generate absolute returns using a variety of different strategies exploiting the asymmetry that comes with convertible bonds as well as the potential for various arbitrages to be exploited. Incremental gains can be generated through 'gamma trading' which monetises volatility by actively trading the underlying hedges.
Performance
Monthly Returns
JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC | YTD | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2024 | 0.4 | 0.4 | 0.8 | |||||||||||
2023 | 1.6 | -0.3 | -0.1 | 0.4 | 0.1 | 0.4 | 0.9 | 0.1 | 0.0 | -0.3 | 1.9 | 1.8 | 6.6 | |
2022 | -0.6 | -0.9 | 0.0 | -1.1 | -0.5 | -2.3 | 1.0 | 0.1 | -1.8 | 0.1 | 1.4 | 0.5 | -4.2 | |
2021 | 0.3 | 0.4 | -0.1 | 0.4 | 0.1 | 0.2 | -0.1 | 0.2 | 0.0 | -0.2 | -0.5 | 0.3 | 1.0 | |
2020 | 0.3 | -0.1 | -5.3 | 1.9 | 1.5 | 1.5 | 1.3 | 0.8 | -0.1 | 0.1 | 2.1 | 0.9 | 4.8 | |
2019 | 1.2 | 0.4 | 0.2 | 0.5 | -0.3 | 1.0 | 0.3 | -0.3 | 0.3 | 0.4 | 0.0 | 0.7 | 4.5 | |
2018 | 0.6 | -0.3 | -0.5 | 0.0 | -0.7 | -0.2 | 0.3 | -0.3 | 0.1 | -0.6 | -0.7 | -0.4 | -2.7 | |
2017 | 0.4 | 0.3 | 0.0 | 0.2 | 0.1 | 0.1 | 0.3 | 0.0 | -0.1 | 0.3 | -0.1 | 0.0 | 1.5 | |
2016 | -0.7 | -0.3 | 0.7 | 0.8 | 0.1 | 0.1 | 0.8 | 0.5 | 0.1 | 0.5 | -0.5 | 0.6 | 2.6 | |
2015 | 0.3 | 0.6 | 0.1 | 0.4 | 0.1 | -0.6 | -0.2 | -0.5 | -0.7 | 0.3 | -0.3 | -0.8 | -1.2 | |
2014 | 0.3 | 0.7 | 0.2 | 0.3 | 0.3 | 0.2 | -0.2 | 0.0 | -0.3 | -0.3 | 0.0 | -0.6 | 0.6 | |
2013 | 0.7 | 0.2 | 0.0 | 0.6 | 0.3 | -0.8 | 0.6 | 0.1 | 0.5 | 0.8 | 0.1 | 0.3 | 3.4 | |
2012 | 1.2 | 1.1 | 0.1 | -0.2 | -0.1 | 0.5 | 0.6 | 0.5 | 0.5 | 0.6 | 0.4 | 0.6 | 6.0 | |
2011 | 0.4 | 0.5 | 0.4 | 0.2 | 0.2 | -0.3 | 0.0 | -1.3 | -1.4 | 1.1 | -0.6 | 0.3 | -0.5 | |
2010 | 0.7 | 0.4 | 1.9 | 0.6 | -1.5 | -0.1 | 1.3 | 0.4 | 0.7 | 0.4 | -0.3 | 0.4 | 4.8 | |
Show all |
Index Constituents
Name | Inception Date | Sub-Strategy | Geography | AUM | AMC | Perf. Fee | Hurdle | Min Inv. | Liquidity | MTD | YTD | 2023 | 1W | 1M | 3M | 6M | 1Y | 2Y | 3Y | ISIN | Liquidity | Domicile | Inv. Adviser | Portfolio Manager | UN PRI Signatory | Companywide ESG Policy | SFDR | ESG Data Integration | Active Ownership | ESG Exclusion List | Return Consistency Percentile Rank |
Performance Percentile Rank |
Diversifier Percentile Rank |
Downside Protection Percentile Rank |
Low Risk Percentile Rank |
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Aegon Absolute Return Bond | Sep 2011 | Global | £204m | 0.30% | 0% | 500,000 | Daily | 0.8 | 1.5 | 6.2 | 0.2 | 0.7 | 1.6 | 4.2 | 7.1 | 7.4 | 6.9 | IE00B6SPX874 | Daily | Ireland | Aegon Asset Management | Stephen Snowden, Colin Finl... | Article 6 | 74 | 48 | 23 | 56 | 94 | |||||||||
Algebris Global Credit Opportunities Fund | Jul 2016 | Global | £814m | 0.90% | 15% | 500,000 | Daily | 1.2 | 3.4 | 11.8 | 0.3 | 1.2 | 3.7 | 9.1 | 17.5 | 15.9 | 9.1 | IE00BYT35D51 | Daily | Ireland | Algebris (UK) Limited | Gabriele Foà, Samuel Sibony | Yes | Article 8 | 23 | 51 | 15 | 23 | 39 | ||||||||
Allianz Credit Opportunities | Nov 2016 | Global | £483m | 0.27% | 3,000,000 | Daily | 0.6 | 1.5 | 4.2 | 0.2 | 0.6 | 1.5 | 2.7 | 4.8 | 2.5 | 1.4 | LU1505874849 | Daily | Luxembourg | Allianz GI | Herve Dejonghe, Gregoire Docq | Yes | Article 6 | Yes | 25 | 27 | 10 | 48 | 63 | ||||||||
Alma MidOcean Absolute Return Credit | Jan 2016 | Global | £77m | 1.34% | 20% | No | 100 | Weekly | 0.7 | 1.1 | 10.1 | 0.1 | 0.8 | 1.2 | 3.8 | 8.3 | 9.5 | 9.9 | LU2382212186 | Weekly | Luxembourg | MidOcean Credit Fund Manage... | Yes | Yes | Article 8 | Yes | N/A | Yes | 62 | 65 | 8 | 26 | 57 | ||||
Alma Platinum IV Prudence Asia Credit | Aug 2023 | Asia | £50m | 1.25% | 15% | Yes | 100,000 | Daily | 0.9 | 4.6 | 0.4 | 1.0 | 4.6 | 8.4 | LU2502329852 | Daily | Luxembourg | Prudence | Yes | Yes | Article 8 | Yes | N/A | N/A | |||||||||||||
Alma Platinum IV Selwood Market Neutral Credit | Mar 2016 | Global | £46m | 1.39% | 20% | No | 10,000 | Weekly | 0.3 | 0.7 | 16.3 | 0.1 | 0.4 | 0.8 | 4.9 | 13.1 | 11.9 | 10.5 | LU1769346898 | Weekly | Luxembourg | Selwood Asset Management | Sofiane Gharred | No | No | Article 6 | No | N/A | N/A | 45 | 59 | 11 | 4 | 10 | |||
Amundi Absolute Return Credit | Oct 2019 | Global | £52m | 0.40% | 15% | 5,000,000 | Daily | 1.3 | 1.7 | 4.8 | 0.6 | 1.3 | 1.5 | 6.6 | 9.2 | 10.8 | 5.1 | LU2052288615 | Daily | Luxembourg | Amundi Asset Management | Gregoire Pesques, Raphael M... | Article 8 | 36 | 27 | 86 | 47 | 51 | |||||||||
Amundi Chenavari Credit Fund | Jun 2015 | Europe | £481m | 1.40% | 20% | 100,000 | Daily | 0.7 | 1.5 | 7.7 | 0.0 | 0.7 | 1.7 | 7.4 | 10.0 | 10.0 | 10.6 | IE00BWBXTM69 | Daily | Ireland | Chenavari Investment Managers | Demian Brasil | Article 6 | 85 | 62 | 47 | 56 | 90 | |||||||||
Aperture Investors SICAV - Credit Opportunities Fund | Aug 2019 | Global | £682m | 0.39% | 30% | Yes | 100,000 | Daily | -0.1 | 0.8 | 5.3 | -0.7 | 0.1 | 0.8 | 3.8 | 5.4 | 5.0 | 7.2 | LU1958553072 | Daily | Luxembourg | Aperture Investors | Simon Thorp | Yes | Yes | Article 8 | Yes | N/A | Yes | 82 | 54 | 46 | 64 | 91 | |||
Ardea Global Alpha Fund | Mar 2021 | Global | £296m | 0.55% | 0% | No | 100,000 | Daily | -0.4 | 0.3 | 3.0 | 0.1 | -0.5 | 0.2 | 1.5 | 2.8 | 6.3 | IE00BMPRV397 | Daily | Ireland | Ardea Investment Management | Ben Alexander, Gopi Karunak... | Yes | Yes | Article 8 | Yes | N/A | N/A | |||||||||
ASI Absolute Return Global Bond Strategies | Mar 2011 | Global | £490m | 0.60% | 0% | No | 1,000,000 | Daily | 1.9 | 1.8 | 6.6 | 0.8 | 1.9 | 2.0 | 6.9 | 9.3 | 6.2 | -1.2 | LU0548158830 | Daily | Luxembourg | Standard Life Investments | Katy Forbes, Thomas Maxwell... | Yes | Yes | Article 6 | Yes | N/A | N/A | 21 | 18 | 91 | 63 | 48 | |||
Aviva Investors Global Convertibles Absolute Return | Dec 2009 | Global | £516m | 0.75% | 10% | 500,000 | Daily | 1.0 | 2.4 | 5.2 | 0.1 | 1.6 | 2.4 | 5.7 | 5.7 | -0.7 | -4.9 | LU0459997697 | Daily | Luxembourg | Westwood Group | David Clott, Shawn Mato | Article 8 | 22 | 14 | 20 | 27 | 21 | |||||||||
AXA IM Wave Cat Bond Fund | Jan 2017 | Global | £147m | 1.00% | 0% | No | 1,000,000 | Weekly | 0.9 | 3.2 | 16.0 | 0.3 | 1.2 | 3.4 | 6.7 | 15.6 | 17.2 | 22.1 | IE00BJXFRC58 | Weekly | Ireland | AXA Investment Managers | Yes | Yes | Article 6 | Yes | N/A | N/A | 78 | 62 | 40 | 53 | 75 | ||||
BlackRock Global Absolute Return Bond Fund | May 2012 | Global | £55m | 0.50% | No | 10,000,000 | Daily | 0.8 | 1.6 | -1.6 | 0.3 | 0.7 | 1.7 | 4.3 | 1.6 | -0.1 | -3.3 | LU1129992563 | Daily | Luxembourg | BlackRock Investment Manage... | Simon Blundell, Joe Di Cens... | Yes | Yes | Article 6 | Yes | Yes | Yes | 25 | 18 | 46 | 52 | 36 | ||||
BlackRock Strategic Funds Fixed Income Strategies | Sep 2009 | Global | £1.9b | 0.60% | 0% | No | 10,000,000 | Daily | 0.8 | 1.2 | 2.8 | 0.3 | 0.8 | 1.3 | 4.3 | 4.5 | 4.9 | 1.8 | LU0438336264 | Daily | Luxembourg | BlackRock Investment Manage... | Michael Krautzberger, Tom M... | Yes | Yes | Article 6 | Yes | Yes | Yes | 46 | 46 | 58 | 53 | 50 | |||
BlueBay Emerging Market Unconstrained Bond Fund | Jul 2010 | Emerging Markets | £374m | 0.50% | 10% | Yes | 500,000 | Daily | 2.2 | 3.5 | 15.6 | 0.8 | 2.6 | 3.5 | 13.4 | 18.1 | 6.1 | -0.1 | LU1167329637 | Daily | Luxembourg | BlueBay Asset Management LLP | Polina Kurdyavko, Anthony K... | Article 8 | 13 | 11 | 13 | 10 | 4 | ||||||||
BlueBay Investment Grade Absolute Return Bond | May 2011 | Global | £714m | 1.00% | 500,000 | Daily | 0.4 | 2.6 | 5.3 | -0.1 | 0.1 | 3.0 | 4.2 | 8.6 | 11.0 | 10.1 | LU0627764474 | Daily | Luxembourg | BlueBay Asset Management LLP | Geraud Charpin, Raphael Rob... | Article 8 | 71 | 39 | 52 | 54 | 69 | ||||||||||
BNY Mellon Absolute Return Bond | Mar 2012 | Global | £253m | 0.65% | 500,000 | Daily | 0.6 | 2.7 | 8.2 | 0.1 | 0.5 | 2.8 | 6.2 | 11.6 | 13.0 | 13.3 | IE00B8G10T17 | Daily | Ireland | BNY Mellon Asset Management | Peter Bentley, Andrew Wickham | Article 6 | 86 | 66 | 69 | 68 | 96 | ||||||||||
BNY Mellon Absolute Return Global Convertible Fund | May 2019 | Global | £59m | 0.75% | 15% | 15,000,000 | Daily | 1.0 | 2.4 | -0.4 | 0.4 | 1.2 | 2.6 | 4.9 | 3.7 | -1.4 | -2.2 | IE00BJQR5F71 | Daily | Ireland | Insight, a BNY Mellon Company | Frank Campana, James Doolin | Article 6 | 18 | 19 | 50 | 50 | 52 | |||||||||
Boussard & Gavaudan Convertible | Apr 2015 | Europe | £39m | 0.80% | 100,000 | Daily | 2.0 | 2.6 | 12.6 | 0.5 | 1.9 | 2.3 | 10.1 | 12.7 | 1.5 | 0.5 | LU1209144648 | Daily | Luxembourg | Boussard & Gavaudan | 25 | 28 | 2 | 4 | 10 | ||||||||||||
Bramshill UCITS Income Performance Fund | Mar 2018 | US | £168m | 0.65% | 0% | No | 100,000 | Daily | 0.8 | 1.3 | 6.9 | 0.5 | 1.0 | 1.6 | 7.2 | 8.8 | 5.0 | 2.1 | IE00BYVLFB58 | Daily | Ireland | Bramshill Investments LLC | Art DeGaetano | Yes | Yes | Article 6 | Yes | N/A | N/A | 18 | 26 | 20 | 27 | 49 | |||
Butler Credit Opportunities UCITS Fund | May 2017 | Europe | £788m | 1.10% | 20% | 100,000 | Daily | 0.4 | 1.8 | 9.6 | -0.1 | 0.3 | 1.9 | 5.8 | 9.5 | 8.3 | 9.4 | IE00BMVX1H59 | Daily | Ireland | ML Capital Asset Management | Laurent Kenigswald | 62 | 59 | 8 | 39 | 74 | ||||||||||
Candriam Bonds Credit Opportunities | Jul 2002 | Global | £516m | 0.50% | 20% | Yes | 0 | Daily | 0.4 | 0.9 | 5.8 | 0.1 | 0.3 | 0.9 | 3.4 | 5.5 | 4.7 | 3.5 | LU0151325312 | Daily | Luxembourg | Candriam | Philippe Noyard, Patrick Ze... | Yes | Yes | Article 6 | No | Yes | Yes | 38 | 36 | 5 | 30 | 52 | |||
Candriam Long Short Credit | Oct 2009 | Global | £364m | 0.50% | 20% | Yes | 0 | Daily | 0.5 | 1.2 | 3.8 | 0.1 | 0.5 | 1.2 | 3.1 | 5.5 | 5.6 | 5.3 | FR0010760694 | Daily | France | Candriam | Patrick Zeenni, CFA, Philip... | Yes | Yes | Article 6 | No | Yes | Yes | 80 | 40 | 48 | 61 | 95 | |||
Cheyne Global Credit Fund | Apr 2012 | Global | £95m | 1.00% | 10% | 1,000,000 | Weekly | 0.8 | 1.9 | 10.5 | 0.2 | 0.8 | 1.8 | 5.0 | 11.2 | 10.6 | 8.1 | IE00B76XH336 | Weekly | Ireland | Cheyne Capital | Sean Boland | 27 | 49 | 7 | 27 | 44 | ||||||||||
CIFC Global Floating Rate Credit Fund | Jan 2019 | Global | £65m | 0.70% | 0% | No | 1,000,000 | Weekly | 1.4 | 4.4 | 20.0 | 0.5 | 1.5 | 4.7 | 9.9 | 22.2 | IE0009SO3I10 | Weekly | Ireland | CIFC | Jay Huang | Yes | Yes | Article 6 | Yes | N/A | N/A | 51 | 84 | 24 | 44 | 44 | |||||
CIFC Long/Short Credit Fund | Aug 2020 | Global | £449m | 0.50% | 10% | 5,000,000 | Daily | 0.5 | 1.2 | 4.7 | 0.1 | 0.6 | 1.1 | 3.2 | 5.2 | 7.0 | 8.9 | IE00BK7ZST21 | Daily | Ireland | CIFC | Jason Horowitz | 100 | 56 | 26 | 65 | 100 | ||||||||||
Concise Short Term High Yield UCITS Fund | Nov 2016 | US | £86m | 1.00% | 0% | No | 1,000,000 | Daily | 1.3 | 2.7 | 8.7 | 0.4 | 1.5 | 3.3 | 6.2 | 10.9 | 9.5 | 17.2 | IE00BD046N77 | Daily | Ireland | Concise Capital Management | Tom Krasner | No | Yes | Article 6 | Yes | N/A | N/A | 93 | 84 | 32 | 50 | 92 | |||
Federated Hermes Multi-Strategy Credit Fund | May 2014 | Global | £174m | 0.65% | 100,000 | Daily | 1.1 | 1.3 | 8.8 | 0.2 | 1.0 | 1.6 | 7.8 | 9.9 | 4.2 | 0.3 | IE00BKRCNH63 | Daily | Ireland | Federated Hermes | Fraser Lundie, Andrey Kuzne... | Article 8 | 10 | 13 | 2 | 15 | 13 | ||||||||||
Federated Hermes Unconstrained Credit Fund | Oct 2018 | Global | £982m | 0.65% | 100,000 | Daily | 1.2 | 1.1 | 9.3 | 0.2 | 1.1 | 1.4 | 8.7 | 9.6 | 2.2 | -1.3 | IE00BFZMZF58 | Daily | Ireland | Federated Hermes | Fraser Lundie, Andrew Jacks... | Article 8 | 2 | 7 | 0 | 11 | 8 | ||||||||||
Fidelity Absolute Return Global Fixed Income | Sep 2020 | Global | £22m | 0.70% | 10,000,000 | Daily | 0.7 | 2.0 | 6.8 | 0.4 | 0.8 | 1.9 | 4.5 | 6.9 | 8.3 | 9.7 | LU2207569984 | Daily | Luxembourg | Fidelity International | Claudio Ferrarese, Tim Foster | Article 6 | 66 | 48 | 49 | 59 | 94 | ||||||||||
Fixed Income Allocator UCITS | Nov 2010 | Global | £204m | 1.50% | 10% | 5,000 | Daily | 0.4 | 0.6 | 2.1 | 0.3 | 0.5 | 0.8 | 1.8 | 2.1 | 8.8 | 6.6 | LU1376833346 | Daily | Luxembourg | Lake Geneva Investment Part... | Guner Turkmen, Marc Sormani | 80 | 42 | 95 | 74 | 83 | ||||||||||
Franklin K2 Cat Bond UCITS Fund | Jun 2021 | Global | £105m | 0.75% | 5,000,000 | Daily | 0.9 | 3.6 | 13.3 | 0.2 | 1.1 | 3.6 | 5.9 | 13.9 | 15.0 | LU2303826973 | Daily | Luxembourg | K2 Advisors | Michael Rich | Article 8 | ||||||||||||||||
Franklin K2 Ellington Structured Credit UCITS Fund | Sep 2019 | Global | £61m | 1.00% | 0% | No | 5,000,000 | Daily | 1.0 | 3.4 | 12.8 | 0.2 | 1.0 | 3.5 | 6.8 | 13.7 | 15.1 | 17.2 | LU2164518305 | Daily | Luxembourg | Ellington Global Asset Mana... | Mark Tecotzky, Gregory Valli | No | No | Article 6 | No | N/A | N/A | 89 | 68 | 57 | 70 | 90 | |||
FTGF Legg Mason Brandywine Global Credit Opportunities | Jun 2014 | Global | £16m | 1.15% | 0% | No | 15,000,000 | Daily | 1.5 | 3.1 | -1.1 | 0.2 | 1.7 | 3.2 | 5.5 | 4.0 | 4.2 | 4.0 | IE00BMMV5W18 | Daily | Ireland | Brandywine | Brian Kloss, Tracy Chen | Yes | Yes | Article 6 | No | N/A | N/A | 16 | 37 | 80 | 86 | 78 | |||
FTGF Legg Mason Brandywine Global Fixed Income Absolute Return | Apr 2012 | Global | £152m | 0.90% | 0% | No | 15,000,000 | Daily | 0.7 | -1.3 | 3.0 | 0.5 | 1.2 | -1.9 | 7.4 | 1.3 | 0.2 | -1.6 | IE00B5M0G930 | Daily | Ireland | Brandywine | David F Hoffman, Jack McInt... | Yes | Yes | Article 6 | No | N/A | N/A | 11 | 22 | 22 | 18 | 29 | |||
FTGF Legg Mason Brandywine Global Income Optimiser Fund | Jun 2013 | Global | £936m | 0.55% | 15,000,000 | Daily | 0.4 | 0.2 | 7.2 | -0.3 | 0.8 | -0.3 | 7.8 | 5.7 | -2.4 | -7.6 | IE00BBT3JP45 | Daily | Ireland | Brandywine | Article 8 | 4 | 12 | 12 | 13 | 16 | |||||||||||
GAM Star Cat Bond | Oct 2011 | Global | £2.2b | 1.10% | 10% | No | 20,000,000 | Biweekly | 0.7 | 3.5 | 15.5 | 0.3 | 0.9 | 3.8 | 7.4 | 15.6 | 15.4 | 20.6 | IE00B5BJCL51 | Biweekly | Ireland | GAM Investments | Fermat Capital Management LLC | No | No | Article 6 | No | N/A | N/A | 75 | 79 | 34 | 51 | 68 | |||
Hermes Absolute Return Credit Fund | May 2015 | Global | £236m | 0.70% | 100,000 | Daily | 0.8 | 1.3 | 4.9 | 0.1 | 0.7 | 1.5 | 5.1 | 6.3 | 3.5 | 1.0 | IE00BWFRCV46 | Daily | Ireland | Hermes Investment Management | Fraser Lundie | Article 8 | 22 | 27 | 1 | 33 | 46 | ||||||||||
HI Numen Credit Fund | Oct 2012 | Global | £98m | 1.50% | 15% | Weekly EURIBOR +1% | 500,000 | Weekly | 1.3 | 1.9 | -7.9 | 1.6 | 0.8 | 1.9 | -7.0 | -6.9 | -10.0 | -14.3 | IE00B4ZWPV43 | Weekly | Ireland | Hedge Invest SGR p.A. | Filippo Lanza | 18 | 13 | 58 | 28 | 11 | |||||||||
HSBC GIF GEM Debt Total Return | Jun 2007 | Emerging Markets | £67m | 0.50% | 20% | 1,000,000 | Daily | 1.4 | 1.6 | 11.6 | 0.3 | 1.8 | 1.7 | 9.4 | 10.4 | 7.7 | -7.8 | LU0283739885 | Daily | Luxembourg | Halbis Capital Management | Guillermo Osses | Article 6 | 18 | 10 | 5 | 10 | 7 | |||||||||
Ironshield High Yield Alpha Fund | Aug 2022 | Europe | £37m | 1.00% | 15% | No | 100,000 | Daily | 9.3 | 0.3 | 3.0 | 7.2 | IE000IZZWOT0 | Daily | Ireland | Ironshield Capital Management | No | No | Article 6 | No | N/A | N/A | |||||||||||||||
Janus Henderson Horizon Total Return Bond Fund | Mar 2012 | Global | £311m | 0.75% | 0% | No | 1,000,000 | Daily | 1.2 | -0.7 | 3.5 | 0.5 | 1.0 | -0.8 | 4.5 | 0.4 | -7.1 | -10.7 | LU0756065164 | Daily | Luxembourg | Janus Henderson Investors | Andrew Mulliner, CFA, Hele... | Yes | Yes | Article 6 | Yes | N/A | N/A | 3 | 8 | 11 | 20 | 23 | |||
JPM Income Opportunity | Jul 2007 | Global | £877m | 0.55% | 20% | 10,000,000 | Daily | 0.4 | 1.3 | 4.1 | 0.1 | 0.4 | 1.4 | 2.3 | 5.0 | 5.3 | 4.9 | LU0323456201 | Daily | Luxembourg | J.P.Morgan Asset Management | Bill Eigen, Jeffrey Wheeler | Article 6 | 55 | 35 | 68 | 72 | 87 | |||||||||
Lazard Emerging Markets Total Return Debt | Nov 2010 | Emerging Markets | £26m | 0.75% | 20% | 250,000 | Daily | 0.6 | -0.8 | 7.4 | 0.3 | 0.7 | -0.1 | 7.4 | 4.2 | -1.7 | -10.5 | IE00B4PRR915 | Daily | Ireland | Lazard Asset Management | Denise Simon, Arif Joshi | Article 8 | 10 | 9 | 3 | 7 | 6 | |||||||||
Lazard Rathmore Alternative Fund | May 2018 | Global | £1.4b | 1.25% | 20% | 1,000,000 | Daily | 0.8 | 2.8 | 6.0 | 0.2 | 1.1 | 2.9 | 3.1 | 6.2 | 3.8 | 6.1 | IE00BG1V1444 | Daily | Ireland | Lazard Asset Management | Yes | Yes | Article 8 | Yes | Yes | Yes | 57 | 52 | 45 | 44 | 60 | |||||
Leadenhall UCITS ILS Cat Bond Fund | Dec 2015 | Global | £478m | 1.00% | 0% | No | 250,000 | Biweekly | 0.0 | IE00BYTQ6H57 | Biweekly | Ireland | Leadenhall Capital Partners... | Ben Adolph, Lionel Daniele,... | Yes | Yes | Article 8 | Yes | N/A | N/A | 76 | 82 | 64 | 81 | 33 | ||||||||||||
Legal & General Strategic Bond | Apr 2007 | Global | £519m | 0.60% | 0% | 100,000 | Daily | 2.1 | 3.0 | 6.1 | 0.4 | 1.9 | 3.0 | 9.2 | 11.0 | 11.0 | 5.6 | GB00B1TWMW95 | Daily | UK | Legal & General Investment ... | Richard Hodges | 37 | 42 | 17 | 32 | 32 | ||||||||||
LGT (Lux) I – Cat Bond Fund | Nov 2010 | Global | £396m | 1.50% | 100,000 | Biweekly | 0.3 | 2.9 | 13.3 | 0.9 | 3.3 | 6.4 | 13.6 | 13.0 | 15.4 | LU0816332745 | Biweekly | Luxembourg | LGT Capital Partners | Christian Bruns, Hilary Pau... | 88 | 67 | 65 | 69 | 93 | ||||||||||||
Liontrust GF Absolute Return Bond Fund | Jun 2018 | Global | £96m | 0.40% | 5,000,000 | Daily | 0.7 | 1.1 | 7.1 | 0.2 | 0.8 | 1.3 | 4.3 | 6.5 | 6.3 | 4.3 | IE00BD85PP71 | Daily | Ireland | Liontrust Asset Management | David Roberts, Phil Milburn... | Article 8 | 31 | 36 | 4 | 39 | 66 | ||||||||||
Longchamp Solferino Credit Fund | Jan 2020 | Europe | £55m | 1.00% | 10% | Yes | 100,000 | Weekly | 0.0 | FR0013442597 | Weekly | France | Longchamp Asset Management | Jean Fau | No | No | Article 6 | No | N/A | N/A | 23 | 52 | 29 | 16 | 18 | ||||||||||||
Lumyna - BlueCove Alternative Credit UCITS Fund | Dec 2020 | Global | £126m | 0.95% | 12.5% | No | 1,000,000 | Daily | 0.1 | 0.7 | 1.9 | 0.3 | 0.2 | 0.8 | 1.9 | 1.7 | 8.4 | 6.6 | LU2225892079 | Daily | Luxembourg | BlueCove | BlueCove | Yes | Yes | Article 8 | No | N/A | N/A | 89 | 41 | 55 | 62 | 82 | |||
Macquarie Global Income Opportunities | Nov 2013 | Global | £16m | 0.50% | 1,000,000 | Daily | 0.7 | 1.0 | 5.6 | 0.1 | 0.8 | 1.1 | 4.9 | 3.8 | 3.8 | 0.8 | LU0947832670 | Daily | Luxembourg | Macquarie Investment Manage... | Brett Lewthwaite, David Hanna | Article 6 | 28 | 26 | 19 | 34 | 57 | ||||||||||
Man GLG Convertible Arbitrage Alternative | May 2021 | US | £48m | 1.00% | 20% | No | 1,000,000 | Daily | 0.9 | 1.4 | 0.0 | 0.3 | 1.0 | 1.5 | 2.9 | 1.9 | 3.7 | IE000B6H4RR4 | Daily | Ireland | Man Group Plc | Gil Song | Yes | Yes | Article 6 | No | N/A | N/A | |||||||||
Man GLG Emerging Markets Corporate Credit Alternative | Feb 2023 | Emerging Markets | 1.00% | 20% | No | 1,000,000 | Daily | 0.0 | IE000WTHI093 | Daily | Ireland | Man Group Plc | Yes | Yes | Article 6 | No | N/A | N/A | |||||||||||||||||||
MFM Funds (Lux) - MFM Northlight European Credit Opportunities | Apr 2016 | Europe | £78m | 1.00% | 10% | No | 1 | Weekly | 0.5 | 2.1 | 5.3 | 0.4 | 2.1 | 4.2 | 6.7 | 5.6 | 11.1 | LU1340030060 | Weekly | Luxembourg | Northlight Group LLP | Shahar ZER | No | No | Article 6 | No | N/A | N/A | 87 | 72 | 42 | 65 | 88 | ||||
Miralta Sequoia | Oct 2017 | Global | £85m | 0.75% | Daily | 0.0 | ES0173368012 | Daily | Rentamarkets Investment Man... | Ignacio Fuertes | 37 | 47 | 5 | 30 | 62 | ||||||||||||||||||||||
MontLake Advent Global Partners UCITS | Jul 2016 | Global | £60m | 1.00% | 20% | No | 5,000,000 | Daily | 1.2 | 1.4 | 7.2 | 0.3 | 1.3 | 2.0 | 6.9 | 8.0 | 6.1 | 6.3 | IE00BD3CR131 | Daily | Ireland | Advent Capital Management LLC | Odell Lambroza, Tracy V. Ma... | Yes | Yes | Article 8 | Yes | N/A | Yes | 23 | 44 | 47 | 37 | 57 | |||
MontLake Ironshield Credit Fund | Mar 2020 | Global | £109m | 1.50% | 15% | 100,000 | Weekly | 0.4 | -3.8 | 7.7 | 0.2 | 0.8 | -3.5 | -0.3 | 6.4 | -8.4 | 0.9 | IE00BJBY6V60 | Weekly | Ireland | Ironshield Capital Management | David Nazar, Luca Moro | 44 | 80 | 95 | 60 | 31 | ||||||||||
Morgan Stanley Sustainable Fixed Income Opportunities Fund | Dec 2020 | Global | £29m | 0.45% | Daily | 1.0 | 0.7 | 6.5 | 0.4 | 0.9 | 0.7 | 5.5 | 5.8 | 2.2 | -0.7 | GB00BNKVP424 | Daily | UK | Morgan Stanley IM | Leon Grenyer | 18 | 20 | 11 | 31 | 44 | ||||||||||||
Muzinich European Credit Alpha | Oct 2017 | Europe | £284m | 0.65% | 20% | Yes | 5,000,000 | Daily | 0.5 | 1.6 | 10.7 | -0.1 | 0.3 | 1.6 | 7.5 | 11.7 | 8.3 | 6.2 | IE00BF4K8391 | Daily | Ireland | Muzinich & Co. Inc | Thomas Samson, Hugo Squire | Yes | Yes | Article 8 | Yes | N/A | Yes | 33 | 47 | 4 | 21 | 31 | |||
Muzinich Long Short Credit Yield | Jun 2012 | Global | £278m | 1.00% | 10% | 100,000 | Weekly | 0.6 | 5.3 | 0.6 | 2.6 | 6.1 | 2.7 | 2.3 | IE00B85RQB47 | Weekly | Ireland | Muzinich & Co. Inc | Brian Lieberman, Greg Temo | Article 8 | 47 | 35 | 15 | 44 | 64 | ||||||||||||
Palladium FCP - RAM Mediobanca Strata UCITS Credit Fund | May 2019 | Global | £216m | 0.75% | 0% | 100,000 | Daily | 1.3 | 3.6 | 11.3 | 0.1 | 1.2 | 3.6 | 10.5 | 16.9 | 10.1 | 9.3 | LU1808849126 | Daily | Luxembourg | Cairn Capital | Fabio Vanerio | 32 | 49 | 6 | 19 | 25 | ||||||||||
Pareturn Gladwyne Absolute Credit | Feb 2015 | Europe | £29m | 1.50% | 20% | 1,000,000 | Weekly | 1.9 | 3.2 | 7.1 | 1.6 | 3.2 | 3.7 | 6.3 | 17.1 | 29.1 | LU1107506922 | Weekly | Luxembourg | Gladwyne Investments | Barend Pennings | 98 | 93 | 54 | 70 | 86 | |||||||||||
Pictet TR Sirius | Aug 2019 | Emerging Markets | £43m | 1.10% | 20% | Yes | 1,000,000 | Weekly | 2.2 | 1.2 | 4.0 | 0.1 | 1.9 | 1.5 | 3.7 | 5.1 | 4.4 | 9.1 | LU1799935975 | Weekly | Luxembourg | Pictet Funds (Europe) S.A. | Ketan Gada, Rav Singh, Thib... | Yes | Yes | Article 6 | Yes | Yes | Yes | 96 | 51 | 78 | 69 | 97 | |||
PIMCO GIS Mortgage Opportunities | Jan 2017 | US | £727m | 0.69% | Daily | 1.1 | 1.5 | 7.0 | 0.3 | 1.4 | 1.4 | 5.7 | 7.1 | 2.5 | 1.2 | IE00BD38JM62 | Daily | Ireland | PIMCO Asset Management | Joshua Anderson | Article 6 | 29 | 28 | 9 | 33 | 46 | |||||||||||
Polar Capital Global Absolute Return | Dec 2018 | Global | £79m | 1.00% | 15% | 0 | Daily | 1.7 | 2.2 | 4.2 | 0.5 | 1.8 | 2.2 | 6.4 | 6.8 | 6.1 | 8.5 | IE00BDTYJB74 | Daily | Ireland | Polar Capital | David Keetley, Stephen McCo... | Article 8 | 74 | 56 | 30 | 38 | 79 | |||||||||
Quadriga Investors European Credit Opportunities | Feb 2024 | Europe | 0.40% | 0% | No | 10,000,000 | Daily | 0.0 | LU2577365393 | Daily | Luxembourg | Quadriga Asset Managers | Jose Mosquera | No | No | Article 6 | No | N/A | N/A | ||||||||||||||||||
Redhedge Relative Value UCITS Fund | Mar 2021 | Europe | £128m | 1.00% | 20% | No | 100,000 | Daily | 0.3 | 0.6 | 1.2 | 0.1 | 0.3 | 0.6 | 0.6 | 1.5 | 4.0 | 3.5 | IE00BKPKGX98 | Daily | Ireland | Redhedge Asset Management | Andrea Seminara | No | Yes | Article 8 | No | N/A | N/A | ||||||||
Robeco QI Long/Short Dynamic Duration | Oct 2003 | Global | £41m | 0.30% | Daily | 0.2 | 1.7 | 7.2 | -0.1 | 0.0 | 1.5 | 3.0 | 8.4 | 7.6 | 5.9 | LU0230242686 | Daily | Luxembourg | Robeco Luxembourg | Olaf Penninga | Article 8 | 35 | 46 | 97 | 79 | 92 | |||||||||||
Royal London Absolute Return Government Bond Fund | Nov 2014 | Global | £1.3b | 0.50% | 1,000,000 | Daily | 0.4 | 1.4 | 6.1 | 0.1 | 0.5 | 1.7 | 4.0 | 6.6 | 10.9 | 10.5 | IE00BP3QZQ03 | Daily | Ireland | Royal London Asset Management | Darren Bustin & Paul Rayner | 92 | 57 | 64 | 69 | 100 | |||||||||||
Rubrics Global Fixed Income | Oct 2006 | Global | £144m | 0.70% | 100,000 | Daily | 0.4 | -1.2 | 2.7 | 0.3 | 0.7 | -0.9 | 3.8 | 0.6 | -2.2 | -5.2 | IE00B1FQCG91 | Daily | Ireland | Rubrics Asset Management | Steven O'Hanlon | 7 | 15 | 23 | 33 | 43 | |||||||||||
Schroder GAIA Cat Bond | Oct 2013 | Global | £2.2b | 1.10% | 1,000,000 | Biweekly | 0.8 | 3.1 | 16.5 | 0.2 | 0.7 | 3.2 | 6.7 | 15.6 | 16.9 | 19.1 | LU0951570687 | Biweekly | Luxembourg | Secquaero Advisors | Daniel Ineichen | Article 8 | 72 | 81 | 36 | 42 | 52 | ||||||||||
Schroder GAIA Oaktree Credit | May 2021 | Global | £58m | 0.75% | 10,000 | Daily | 1.3 | 2.5 | 15.1 | 0.3 | 1.2 | 2.5 | 8.6 | 15.0 | 12.9 | LU2252519835 | Daily | Luxembourg | Oaktree Capital Management | Bruce Karsh, David Rosenberg | Article 6 | ||||||||||||||||
Schroder ISF EURO Credit Absolute Return | Aug 2016 | Global | £133m | 0.60% | 5,000,000 | Daily | 1.2 | 2.1 | 8.8 | 0.4 | 1.0 | 1.9 | 6.7 | 10.4 | 2.6 | -2.8 | LU1476606857 | Daily | Luxembourg | Schroders | Patrick Vogel | Article 8 | 6 | 16 | 5 | 20 | 20 | ||||||||||
Securis Catastrophe Bond Fund | Mar 2016 | Global | £190m | 0.65% | 0% | No | 100,000 | Biweekly | 0.7 | 3.2 | 16.7 | 1.3 | 3.7 | 7.0 | 16.3 | 17.6 | 21.9 | IE00BYYCCZ85 | Biweekly | Ireland | Securis Investment Partners... | Yes | Yes | Article 6 | No | N/A | N/A | 78 | 82 | 33 | 53 | 74 | |||||
Selwood ESG Credit | Aug 2023 | Europe | £18m | 1.00% | 10% | Yes | 1,000,000 | Daily | 1.7 | 0.5 | 1.0 | 1.6 | 1.1 | 5.6 | IE000NWFI5E1 | Daily | Ireland | Selwood Asset Management | Mathieu Labelle and Thibaul... | Yes | Yes | Article 8 | Yes | N/A | Yes | ||||||||||||
Tabula Liquid Credit Income UCITS Fund | Dec 2021 | Global | £153m | 0.95% | 0% | No | 1,000 | Daily | 1.9 | 4.2 | 21.0 | -0.1 | 1.9 | 4.1 | 14.5 | 24.3 | IE00BN92ZH94 | Daily | Ireland | Tabula Capital | Danny White | No | No | Article 6 | No | N/A | N/A | ||||||||||
TCW Unconstrained Bond Fund | Sep 2014 | Global | £458m | 0.70% | 0% | No | 1,000,000 | Daily | 0.9 | 0.5 | 8.1 | 0.3 | 1.2 | 0.4 | 6.0 | 6.3 | 4.3 | 1.3 | LU1109965431 | Daily | Luxembourg | TCW | Stephen M Kane; Laird Landm... | Yes | Yes | Article 8 | Yes | N/A | N/A | 32 | 30 | 14 | 28 | 47 | |||
Tenax ILS UCITS Fund | Jun 2017 | Global | £85m | 0.70% | 20% | Yes | 1,000,000 | Biweekly | 0.0 | IE00BDVK6P68 | Biweekly | Ireland | Tenax Capital Ltd | Marco della Giacoma | No | No | Article 6 | No | N/A | N/A | 69 | 77 | 35 | 43 | 61 | ||||||||||||
Threadneedle (LUX) Credit Opportunities | Aug 2015 | Europe | £153m | 0.50% | Daily | 0.3 | 1.5 | 2.5 | -0.1 | 0.3 | 1.8 | 3.5 | 5.8 | 1.3 | -0.8 | LU1849560120 | Daily | Luxembourg | Columbia Threadneedle Inves... | Alasdair Ross, Roman Gaiser | Article 6 | 12 | 24 | 32 | 44 | 54 | |||||||||||
Threadneedle (LUX) Global Investment Grade Credit Opportunities | Mar 2018 | Global | £6m | 0.25% | 10,000,000 | Daily | 1.2 | 1.7 | 1.6 | 0.3 | 0.7 | 1.7 | 3.5 | 5.9 | -0.1 | -2.1 | LU1746309928 | Daily | Luxembourg | Columbia Threadneedle Inves... | Alasdair Ross, Ryan Staszewski | Article 6 | 13 | 19 | 38 | 51 | 47 | ||||||||||
Twelve Cat Bond Fund | Feb 2018 | Global | £2.3b | 0.90% | 0% | No | 1,000,000 | Weekly | 0.6 | 3.2 | 11.8 | 0.1 | 0.9 | 3.3 | 6.1 | 13.1 | 9.7 | 11.4 | IE00BD2B9M61 | Weekly | Ireland | Twelve Capital | Florian Steiger, Etienne Sc... | Yes | Yes | Article 8 | Yes | N/A | N/A | 84 | 81 | 46 | 63 | 92 | |||
Tyrus Capital Global Convertible Strategy | Feb 2016 | Global | £164m | 0.75% | 15% | No | 1,000,000 | Daily | 1.6 | 2.3 | 2.7 | 0.7 | 1.7 | 2.4 | 5.6 | 5.0 | -2.9 | -8.1 | LU1357022695 | Daily | Luxembourg | Tyrus Capital | Damien Regnier | Yes | Yes | Article 8 | Yes | N/A | N/A | 7 | 10 | 10 | 14 | 22 | |||
U ACCESS (IRL) Brigade Credit Long/Short UCITS | Sep 2022 | Global | £59m | 0.75% | 12.5% | No | 5,000,000 | Weekly | 0.3 | 1.7 | 9.1 | 1.1 | 2.1 | 5.5 | 10.9 | IE000IH81WY2 | Weekly | Ireland | Brigade Capital Management LP | No | No | Article 6 | No | N/A | N/A | ||||||||||||
U Access (IRL) GCA Credit Long Short | Feb 2019 | Global | £256m | 1.30% | 15% | Weekly | 0.1 | 0.9 | 4.7 | 0.3 | 1.0 | 2.7 | 4.3 | 3.6 | 4.7 | IE00BH47R594 | Weekly | Ireland | Global Credit Advisers | Steven Hornstein | Article 6 | 77 | 43 | 13 | 53 | 86 | |||||||||||
Variety CKC Credit Opportunity Fund | Nov 2021 | US | £104m | 1.20% | 15% | No | 1,000,000 | Daily | 0.4 | 1.2 | 5.0 | 0.1 | 0.4 | 1.6 | 3.2 | 5.3 | 7.0 | IE000L7H9JC0 | Daily | Ireland | CKC Capital LLC | Christopher Yanney, Christo... | No | No | Article 6 | No | N/A | N/A | |||||||||
Vontobel Absolute Return Bond | Jul 2005 | Global | £29m | 0.43% | 10% | Daily | 0.1 | 0.9 | 8.8 | 0.2 | 0.9 | 6.6 | 9.4 | -1.9 | -8.0 | LU0278087514 | Daily | Luxembourg | Vontobel Asset Management | Paul Nicholson | Article 8 | 5 | 10 | 0 | 11 | 8 | |||||||||||
Wellington Global Total Return Fund (UCITS) | May 2011 | Global | £61m | 0.20% | 20% | 1,000,000 | Daily | 0.1 | 1.1 | 1.2 | 0.2 | 0.1 | 1.2 | 1.1 | 2.5 | 3.8 | 5.0 | LU0832407331 | Daily | Luxembourg | Wellington Management | Global Bond team | Article 8 | 95 | 43 | 94 | 77 | 100 | |||||||||
XAIA Credit Basis | Apr 2009 | Global | £177m | 0.60% | 1,000,000 | Daily | 0.5 | 1.9 | 4.7 | 0.1 | 0.5 | 2.2 | 3.3 | 6.0 | 7.3 | 8.5 | LU0418282934 | Daily | Luxembourg | XAIA Investment | XAIA Investment | Article 6 | 84 | 30 | 73 | 69 | 70 | ||||||||||
XAIA Credit Basis II | Jan 2010 | Global | £416m | 0.80% | 15% | 1,000,000 | Daily | 0.5 | 1.7 | 4.9 | 0.1 | 0.5 | 2.0 | 3.0 | 6.3 | 7.4 | 8.5 | LU0462885301 | Daily | Luxembourg | XAIA Investment | XAIA Investment | Article 6 | 91 | 31 | 75 | 71 | 71 | |||||||||
XAIA Credit Debt Capital | Sep 2011 | Global | £219m | 0.50% | 20% | 500,000 | Daily | 0.4 | 1.5 | 5.2 | 0.1 | 0.4 | 1.6 | 2.9 | 5.3 | 7.6 | 7.7 | LU0644384843 | Daily | Luxembourg | XAIA Investment | XAIA Investment | Article 6 | 80 | 29 | 77 | 70 | 70 |