Opportunistic Fixed Income Fund
Poised for the challenge
REASONS TO INVEST
• Flexible, nimble, go-anywhere
• Access to the best of Wellington fixed income
• 17-year track record in managing in-house approach for institutional investors*
No assurance or guarantee is made that any target return can or will be achieved and your capital is at risk. Performance target is gross of all fees and expenses. If all fees and expenses were reflected, the performance target would be lower.
*Based on an in-house approach managed for institutional investors since 2000, the Wellington Opportunistic Fixed Income Fund launched on 14 December 2017. **In US dollar terms over the course of a business cycle, typically 3-5 years. This is a US dollar-based portfolio and share classes in other currencies may experience different returns because of hedging and interest-rate differentials. ***We define core bond volatility as being similar to that of the Bloomberg Barclays Global Aggregate Index hedged to USD. During times of market stress, target volatility may be different from the stated aspiration.
THE INVESTMENT PROCESS
The portfolio managers allocate dynamically across three key drivers of total return within fixed income – strategic sector themes, market-neutral strategies and tactical trades. We seek to capture complementary total-return opportunities, while preserving the risk characteristics many clients seek from their core allocations to bonds.
Each source of potential returns typically invests across multiple time horizons, styles and geographies, with different return drivers and low correlations resulting in embedded diversification in the portfolio.
Three drivers of total return
Three drivers of total return
STRATEGIC SECTOR ALLOCATIONS
Longer-term thematic allocations to out-of-favour sectors where we believe we have uncovered both value and a catalyst for positive structural change. Sector allocations combine top-down macro views with sector-specialist skills.
Strategies that seek returns with very low correlations with traditional markets. They can be a key driver of outperformance while offering downside mitigation in periods when returns from broad-market fixed income are low or negative.
Positions that look to profit from short-term volatility by capturing mispricing across global rates, credit and currency markets. These ideas may present attractive total-return opportunities even if they do not meet our criteria for a longer-term sector allocation.
Consider the risks: The Net Asset Value of the Fund may experience volatility from time to time. The use of derivatives forms an important part of the investment strategy. Please refer to the Fund’s page for further information.
WELLINGTON OPPORTUNISTIC FIXED INCOME FUND
Garvey, responsabile del team Opportunistic Fixed Income, è specializzato nella ricerca valutaria e macroeconomica, con particolare attenzione a fattori tematici delle tendenze di lungo periodo nelle valutazioni dei mercati obbligazionari globali.
Khurana è specializzato nella gestione di portafogli core, creditizi e obbligazionari non vincolati, ed è concentrato in particolare sulle posizioni tattiche all’interno del team Opportunistic Fixed Income. In passato si è occupato anche del trading di prodotti strutturati.
Brian helps ensure the integrity of the investment approaches by overseeing portfolio positioning, performance, and risk exposures as well as conducting analysis to inform the investment process.
As an investment director in Fixed Income Product Management, Peter works closely with fixed income investors to help ensure the integrity of their investment approaches. He also meets with clients, prospects, and consultants to communicate our investment philosophy, strategy, positioning, and performance. Peter is based in our London office.
We aim to use our global scale, sector expertise, and market reach to help partner with innovative, disruptive companies in the private market. Today, we invest globally and focus on consumer, technology, health care, biotechnology and financial services.
FIXED INCOME TODAY
Today’s fixed income markets are a challenging place for investors, with return expectations low and uncertainty high. The classic fixed income performance profile of returns with some downside protection has become elusive. Against this backdrop, we believe fixed income investors need to stay nimble, flexible and diversified – alert to opportunities across global bond markets.
Past performance is no guarantee of future performance and can be misleading. Funds returns are shown net of fees. Source: Wellington Management
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