High yield dluhopisový

Bond fund investing mainly in speculative grade corporate bonds

Performance goal and investment strategy
The fund’s performance objective is to significantly outperform Czech government bonds yields in the long term by investments in higher risk corporate bonds. This is an open-ended mutual bond fund with a medium to long-term recommended investment period. The fund is suitable for investors looking for a higher return on bond markets and accept shorter term more significant exchange rate fluctuations. The aim is to achieve an excess yield mainly thanks to investments in corporate bonds at a speculative level (so-called High Yield), which provide a higher yield than government bonds or corporate bonds at an investment level while accepting increased risk. The fund invests on global markets, typically investing in issuers from countries of Western, Central and Eastern Europe, and maintains overall average portfolio duration of less than 5 years. A careful selection of equity titles is preceded by a detailed analysis, while each selected title is continuously evaluated in terms of the portfolio’s credit quality and probability that bond issuers will honour their obligations. The fund is managed actively, which means that the fund manager can also make use of short-term market opportunities and thus manage interest risk flexibly.

Performance goal and investment strategy

The fund’s performance objective is to significantly outperform Czech government bonds yields in the long term by investments in higher risk corporate bonds. This is an open-ended mutual bond fund with a medium to long-term recommended investment period. The fund is suitable for investors looking for a higher return on bond markets and accept shorter term more significant exchange rate fluctuations. The aim is to achieve an excess yield mainly thanks to investments in corporate bonds at a speculative level (so-called High Yield), which provide a higher yield than government bonds or corporate bonds at an investment level while accepting increased risk. The fund invests on global markets, typically investing in issuers from countries of Western, Central and Eastern Europe, and maintains overall average portfolio duration of less than 5 years. A careful selection of equity titles is preceded by a detailed analysis, while each selected title is continuously evaluated in terms of the portfolio’s credit quality and probability that bond issuers will honour their obligations. The fund is managed actively, which means that the fund manager can also make use of short-term market opportunities and thus manage interest risk flexibly.

Performance (2024/05/30)
Period	YTD	6m	1Y (% p a)	3Y (% p a)	5Y (% p a)	10Y (% p a)	since inc. (% p a)
Perf	0.72	3.14	9.25	2.40	2.43	2.22	2.63

Annual performance in % (2024/05/30)
Period	2019	2020	2021	2022	2023
Perf	8.77	-0.45	1.30	-5.86	12.78

Funds ratio of bonds (2024/04/30)
Average time to maturity	2.72
Average Yield	6.84
Duration in years	2.44
Modified duration	2.34
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Minimum & maximum performance in % p.a. (2024/05/30)
1Y	69.11
	-35.61
3Y	18.52
	-3.55
5Y	14.91
	-1.23
10Y	8.08
	1.06

Disclaimer
The full names of the open-ended mutual funds and complete product information are provided in the statutes (prospectuses) of the funds. The information stated herein is of the nature of a promotional message. The information stated in this message is not an investment recommendation or investment advice since it does not take into account the specific situation of specific investors. The value of the financial instruments may rise and fall, while there is no guarantee of a return on the originally invested amount. Past performance is no guarantee of the same performance in a future period. A visitor to this website may be outside the target market of the financial instruments stated herein. We recommend that you consult your specific investment plan with an expert advisor who will verify that the planned investment will be commensurate with your knowledge and experience, that it will be in accordance with your needs, characteristics and goals, financial circumstances or relation to risk, and will familiarise you with all possible risks of a specific investment opportunity.

Disclaimer

The full names of the open-ended mutual funds and complete product information are provided in the statutes (prospectuses) of the funds. The information stated herein is of the nature of a promotional message. The information stated in this message is not an investment recommendation or investment advice since it does not take into account the specific situation of specific investors. The value of the financial instruments may rise and fall, while there is no guarantee of a return on the originally invested amount. Past performance is no guarantee of the same performance in a future period. A visitor to this website may be outside the target market of the financial instruments stated herein. We recommend that you consult your specific investment plan with an expert advisor who will verify that the planned investment will be commensurate with your knowledge and experience, that it will be in accordance with your needs, characteristics and goals, financial circumstances or relation to risk, and will familiarise you with all possible risks of a specific investment opportunity.