Nomura Funds Ireland –
European High Yield Bond Fund

European High Yield Bond Strategy

Our European High Yield Bond Fund sits alongside and complements our market-leading US and Global High Yield strategies.

NCRAM: Our Specialist Credit Research Investment Boutique

The Nomura Euro High Yield Bond Strategy is managed by Nomura Corporate Research and Asset Management Inc. (“NCRAM”), a NAM affiliate. NCRAM was established in 1991 and is an analyst-driven investment boutique that specialises in below investment-grade credit.

The “Strong Horse” Philosophy

We believe a total return approach driven by credit research is the best way to generate alpha in high yield. We describe our investment philosophy as the “Strong Horse” philosophy.

Strong Horse companies can carry their debt load through good times and bad. These companies generally have a positive ability to de-lever their balance sheet by generating strong, positive cash flows that are sustainable. The creditworthiness of these companies tends to increase over time, as will their credit ratings.

Our Investment Approach

Fund Manager Derek Leung, CFA, employs a combination of top down and bottom up analysis to identify European high yield issuers with strong and improving credit fundamentals, in summary:

• We seek to outperform in all market environments.
• Our European High Yield strategy has the flexibility to invest opportunistically throughout the high yield credit spectrum.
• Our significant experience managing through several credit cycles as a team allows us to respond actively to changing market conditions.
• Credit selection is our main driver of alpha generation. This comes from both identifying the best long ideas as well as avoiding mistakes.
• We believe that our integrated US/European high yield management allows us to identify significant $/€ mispricings within roughly 1/3 of the Euro market which also issues in dollars.

For further information regarding NCRAM and the European High Yield Bond strategy please visit NCRAM’s website. http://www.nomura.com/ncram/ (Please note that the link will access a website for contents of which we take no responsibility and to which our data protection rules do not apply.)  

Potential significant risks

Bonds that produce a higher level of income usually also carry greater risk as such bond issuers may have difficulty in paying their debts.

BACK TO MUTUAL FUND OVERVIEW

BACK TO MUTUAL FUND OVERVIEW

Fund	ISIN	Annual Report	Semi-annual Report	Fact Sheet	Sales Prospectus	PRIIPs KIDs (English)
Class A EUR	IE00BF4KRJ81
Class A EUR Hdg	IE00BF4KRM11
Class A USD	IE00BF4KRH67
Class A USD Hdg	IE00BF4KRL04
Class I EUR	IE00BF4KRQ58
Class I EUR Hdg	IE00BF4KRS72
Class I USD	IE00BF4KRP42
Class I USD Hdg	IE00BD9FPM36

A German version of the prospectus can be found here.

The English version of the prospectus is legally binding.

The table comprises a selection of the current available share classes (partly not yet active) for the stated Nomura Funds Ireland plc. mutual fund.

As per January 2024

A complete overview of all available share classes and documents of the Nomura Funds Ireland plc can be found here. 

(Please note that the link will access a website for contents of we assume no responsibility and to which our data protection rules do not apply.)

BACK TO MUTUAL FUND OVERVIEW