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Nomura Funds Ireland – Global Dynamic Bond Fund

Morningstar Overall Ratings as at 30-09-2019. Copyright © 2019 Morningstar UK Limited. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Morningstar rating based on the lead share class: Global Dynamic Bond Fund I USD.

 

Our Nomura Funds Ireland – Global Dynamic Bond Fund is a flexible, “go-anywhere” approach to fixed income investing. The fund is unconstrained by benchmark allocations, allowing for the ability to seek attractive total returns by investing across the full market spectrum. The tools available to the fund include:

  • Government bonds
  • Corporate bonds
  • Mortgage-backed securities
  • Asset-backed securities
  • Convertible bonds
  • Emerging market debt
  • Floating rate notes
  • Cash
  • Derivatives

Risk control is pivotal – Interest rate and credit risk are managed dynamically and the strategy is limited to a monthly value at risk of 5.75%*.

* Ex-ante monthly VaR, 99% confidence interval. This means that in 99% of outcomes, the Fund will experience a loss of no greater than 5.75% in a given month.

Investment Approach

Strategic Core

We form top-down views of macro-economic and market-driven themes at the global level, based on Nomura Asset Management’s in-house research, the portfolio managers own views and selected third party analysis. These views lead to a strategic core portfolio designed to benefit from expected changes in fixed income markets. This strategic core portfolio typically consists of 100-140 individual bonds, and accounts for at least 80% of the assets of the strategy.

Portfolio Protection

Our strategic holdings give rise to shorter term risks: credit and duration risk, primarily. We use the widest possible range of fixed income derivatives (and even equity put options where appropriate) to mitigate and manage these risks with an emphasis on efficiency. Using these instruments, the risk exposures of the Fund are dynamically adjusted around the longer term strategy, to cope with periods of volatility and rising yields.  

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Fixed Income at Nomura Asset Management

Dickie draws extensively on the global fixed income team of Nomura Asset Management to provide both top-down strategic and bottom-up asset selection ideas for the Global Dynamic Bond Fund. More than 100 Portfolio Managers, analysts, economists and traders are dedicated to supplying information and ideas for our global fixed income strategies. The Nomura Asset Management Group has managed Fixed Income investments since 1989. Today we manage portfolios on behalf of some of the world’s largest institutions, including Pension Schemes, Central Banks and Sovereign Wealth funds.

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. Emerging markets or less developed countries may face more political, economic or structural challenges than developed countries.
Investment Objective

The fund aims to provide a combination of income and growth through investing principally in a broad range of debt securities with fixed or variable rates of income. A discretionary (unconstrained) approach combining a thematic top-down macro view with fundamental bottom-up selections. The portfolio will use both cash bonds and fixed income-related derivatives to dynamically adjust strategic positions of shorter-term market movements.

Fund Size

USD 536.7 million (as at 31.08.2019)

Investment Company

Nomura Asset Management U.K. Ltd.

Fund Managers

hodges Richard Hodges, Head of Unconstrained Fixed Income, Nomura Asset Management U.K. Ltd.

Launch Date

30.01.2015

Base Currency

USD

Sector

Fixed Income – Global

Benchmark

None

Domicile

Ireland (Nomura Funds Ireland Plc)

Others

Further information can be found on the website of Nomura Asset Management U.K. Ltd. (You will leave the website of Nomura Asset Management Europe KVG mbH and will switch to the website of Nomura Asset Management U.K. Ltd.)

Fund Annual
Report
Semi-annual
Report
Fact
Sheet
Sales
Prospectus
KIID
U.K. / English
Class A EUR
Class A EUR Hdg
Class A USD
Class AD EUR
Class AD EUR Hdg
Class AD USD
Class I EUR
Class I EUR Hdg
Class I USD
Class ID EUR
Class ID EUR Hdg
Class ID USD

Prospectus Nomura Funds Ireland plc: as per 02. April 2019

Share classes without a KIID are not yet active but could be launched on request within a short period of time.

As per 31. August 2019

A complete overview of all available share classes of the fund as well as further information can be found on the website of Nomura Asset Management U.K. Ltd. (You will leave the website of Nomura Asset Management Europe KVG mbH and will switch to the website of Nomura Asset Management U.K. Ltd.)