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At a glance
Index
1 month USD Deposit Rate
Launch date
Aug 2011
Fund size
$10m
Fund currency
USD
SICAVs
Fund Managers
Jim Cielinski
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Global Opportunities Bond Fund
Threadneedle has carved a strong reputation in absolute return investing as one of the pioneers of using fixed income to generate positive returns across all market conditions.
The new Threadneedle (Lux) Global Opportunities Bond Fund invests in the best ideas generated by Threadneedle's highly experienced specialist fixed income teams, aligned to our strategic fixed income asset class allocation and macro-economic views. Offering an unconstrained, high conviction, and flexible investment approach employing a wide variety of strategies, the fund aims to produce a positive return in all market environments.
The fund aims to deliver an absolute return of 1 month USD Deposit Rate plus 4.5% (gross of fees) annualised. The Fund does not offer any form of guarantee with respect to investment performance and no form of capital protection applies. Discover more about the fund by viewing the tabs below:
Key selling points
- The fund utilises the best ideas from across our fixed income investment team.
- Built on the foundation of a short dated, high grade bond portfolio for liquidity and stability, an active overlay portfolio uses a wide range of arbitrage, relative value and directional strategies to add incremental alpha.
- Offers an unconstrained, high conviction, flexible investment
approach employing a wide variety of strategies with the aim of
producing a positive return in all market environments.
Particularly well suited to today's fixed income markets with a flexible approach able to adapt to different phases of the economic cycle.
Targets an absolute return of 1 month USD Deposit Rate plus 4.5% (gross of fees) annualised.
Emphasis placed on portfolio liquidity with the fund manager exploiting the most liquid asset classes with stringent risk management tools and daily dealing within a transparent UCITS framework.
Threadneedle already manages over US$3.1bn* across an established range of successful absolute return strategies - launching its first absolute return fixed income fund in 2005.
A risk-controlled approach designed to mitigate exposure to deep losses in 'tail risk' scenarios
*As at 30 June 2011
| Lead Fund Manager: | Jim Cielinski (Head of Fixed Income) |
| Strategy Heads: | Quentin Fitzsimmons (Head of Government Bonds and
Foreign Exchange) David Oliphant (Head of Investment Grade Credit) Barrie Whitman (Head of High Yield) Richard House (Head of Emerging Market Debt) Henry Cooke (Head of Asset-Backed Securities) |
| Launch Date: | August 2011 |
| Index: |
1 month USD Depost Rate |
| IMA Sector: |
Absolute Return |
| Annual management fee: |
1.15% (with 20% performance fee above target return)* |
| Minimum investment (AU): |
$2,500 |
| ISIN (AU): | LU0640492673 |
*Class A shares
To fully understand the fundamental, structural and valuation factors that drive today's fixed-income markets a flexible and multi-disciplined team approach is absolutely essential. The emphasis placed on these factors varies with the investment and economic cycle as the sources of return in fixed income markets can vary widely in differing market conditions. We consider all potential alpha sources and allocate active risk to where our research process identifies the best opportunities.
Investment approach
The assets of the portfolio will be invested in two underlying
strategies:
- The liquidity and "carry" portfolio, consisting primarily of high quality securities of shorter duration (0-3 years). Between 10-70% of the Fund may be invested in this type of portfolio in normal environments. The purpose of this strategy is to allow the Fund to consistently exceed the returns provided by LIBOR.
- The "active" portfolio, is the alpha component of the portfolio, designed to generate returns from a broad range of active strategies which may be tactical or longer-term. Risks will be taken in a diversified manner using the full range of Threadneedle's "best ideas". This portfolio will vary considerably at different points of the economic cycle.
- Jim Cielinski
James Cielinski joined Threadneedle in 2010 as Head of Fixed Income. In this role he is responsible for the overall management of the fixed income business, including investment process, product development and investment strategy. He is also a key participant in Threadneedle's asset allocation process.
Prior to joining Threadneedle James spent 12 years at Goldman Sachs, leaving as Head of Global Credit - Investment Grade. He has also held senior investment roles at Utah Retirement Systems and Brown Brothers Harriman.
James graduated from the University of Utah in 1983 with a BSc in Finance and gained an MBA from New York University in 1988. He is also a Chartered Financial Analyst and a member of the UK Society of Securities Analysts.
The Fund will draw on the full set of asset class strategies and skill sets across Threadneedle's fixed income team including corporate and government bonds, emerging market debt, currency and asset backed securities. This, in turn, draws on Threadneedle's global and integrated investment approach encompassing global and regional equity expertise, commodities, property and fixed income.
James Cielinski, Lead portfolio manager and head of Fixed Income, will be responsible for managing allocation of the risk budget. The Strategy Heads listed below are then responsible for managing individual strategies within the fund. This specialised investment team brings an average of 23 years' experience and expertise to the management of this fund.
| Quentin Fitzsimmons | (Head of Government Bonds and Foreign Exchange) |
| David Oliphant |
(Head of Investment Grade Credit) |
| Barrie Whitman | (Head of High Yield) |
| Richard House | (Head of Emerging Market Debt) |
| Henry Cooke | (Head of Asset-Backed Securities) |
Fund Profile
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