• Wellington Management Funds

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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.

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    Targeting 5% – 7% p.a.
    (gross)**

    • Dynamic, diverse return drivers
    • Long-term themes + market neutral + tactical
    • Idiosyncratic and sectoral allocations
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    Aims for core bond volatility***

    • Focus on minimising drawdowns
    • Naturally embedded diversification
    • Multiple risk measures and models
DISCOVER FUND

*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.

Fund video

 

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

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.

MARKET NEUTRAL

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.

TACTICAL

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

The team

Brian Garvey

Brian Garvey

Portfolio Manager

Brian is the leader of the Opportunistic Fixed Income Team and has expertise in macro-economic and currency research, with a particular focus on the thematic drivers of long-term valuation trends across global fixed income markets.

Brij Khurana

Brij Khurana

Portfolio Manager

Brij has specialist experience in managing core, credit and unconstrained fixed income portfolios, and has a focus on tactical trades within the opportunistic Fixed Income team. His earlier experience included trading structured products.

Brian Doherty

Brian Doherty

Investment Director

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.

Peter Becker

Peter Becker

Investment Director

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.

tanya sanwal

Tanya Sanwal

Investment Director

As an investment director in Fixed Income Product Management, Tanya works closely with fixed income investors to help ensure the integrity of their investment approaches. She also meets with clients, prospects, and consultants to communicate our investment philosophy, strategy, positioning, and performance. Tanya is based in our Singapore office.

Paul Skinner

Paul Skinner

Investment Director

As an investment director in Fixed Income Product Management, Paul works closely with fixed income investors to help ensure the integrity of their investment approaches. Paul also meets with clients, prospects, and consultants to communicate our investment philosophy, strategy, positioning, and performance. He is based in our London office.

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.

Featured insights

Past performance is no guarantee of future performance and can be misleading. Funds returns are shown net of fees. Source: Wellington Management

© 2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (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. The Overall Morningstar Rating for a fund is derived from a weighted average of the three, five, and ten year (if applicable) ratings, based on risk-adjusted return. Past performance is no guarantee of future results.

Investment in the funds described on this website carries a substantial degree of risk and places an investor’s capital at risk. The price and value of investments is not guaranteed and can go down as well as up. An investor may not get back the original amount invested and an investor may lose all of their investment. Investment in the funds described on this website is not suitable for all investors. If an investor is in any doubt as to the suitability of an investment in a fund, an investor should consult an independent financial advisor. The information on this website does not constitute, and should not be construed as, investment advice or a recommendation to buy, sell or otherwise transact in any security including, but not limited to, shares in the funds. An investor should only invest in a fund once that investor has carefully read and understood the prospectus and KIID for the fund which contain further information on the risks and features of the fund. Unless stated otherwise data is as at previous month end.

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