2022 | 2021 | 2020 |
- The fund is managed with a multi-strategy approach utilising three sources of returns: asset allocation, interest positioning, and credit selection. Focus is on total returns rather than income or yield.
- Seeks to outperform the Bloomberg Barclays Global Aggregate Index by 1% p.a. with a tracking error of 200bps. Duration often comes within +/- 1.5 years of the benchmark. Follows an active and contrarian approach to investing, with defensive return profile, no style biases and is able to deliver alpha across a range of market conditions.
- Typical number of issuers in portfolio range from 150-250 and the fund may invest in out-of-index strategies such as high yield, emerging market, and a range of derivatives. As of 31 March 2022, the fund is well diversified with 239 holdings in its portfolio.
- The fund remains highly selective, with a preference for high-quality issuers that it has a constructive view on. It also continues to keep a careful eye on portfolio liquidity to ensure flexibility to act during periods of market stress.
Fund Investment Style
Source: Bloomberg Finance L.P., iFAST
Compilations
Monthly total returns including gross dividends in SGD terms as of 31 Mar 2022
|
Recommended fund |
3-year Annualised return |
3-year Maximum drawdown |
3-year Downside Deviation |
3-year Sortino ratio |
|
Fidelity Global Bond A-USD |
1.3% |
-11.1% |
3.2% |
-0.36 |
|
Peer Average |
1.2% |
-11.8% |
4.4% |
-0.28 |
Source: Bloomberg Finance L.P., iFAST Compilations
Monthly total returns including gross dividends in SGD terms as of 31 Mar 2022
About the Fund Managers
The fund is managed by Rick Patel since 31 August 2016 with Ario Emami Nejad as the Co-Portfolio Manager. He leads the global fixed income investment team comprised of 130 professionals, with constant interaction through close proximity, leveraging off the full expertise to generate insights for all strategy decisions, credit analysis, risk allocation and trade ideas.
This global team keeps abreast of market intelligence, flows, and liquidity, developing proprietary models and ratings on an issuer’s fundamentals and the valuation of its bond. The fund follows an active, nimble and carefully contrarian approach to investing.