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UBAM - Dynamic Euro Bond AC EUR

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An alternative to cash with enhanced yield, near-zero interest-rate risk and limited credit risk
UBAM - Dynamic Euro Bond offers investors the benefit of a cash-enhanced fund with limited downside due to active management of the portfolio’s structure. It is an appealing option for investors looking for an alternative to the currently very low returns provided by cash. In addition, the fund will benefit from rising short-term rates as it mainly invests in floating-rate notes. The fund offers a very attractive yield-to-risk profile. It has a proven track record of low volatility and had very limited drawdowns during the credit crisis in 2008 and the euro sovereign crisis in 2011.


Key points

  • Exposure to floating-rate notes that benefit from rising short-term rates
  • Target: Libor + 100bp net of fees with maximum annualised volatility of 1.5% amid very low rates
  • A historical annualised volatility rate of less than 1.0%
  • An alternative to cash that limited its monthly drawdown to -1.1% in 2008 during the credit crisis
  • Active management of maturity, rating and sector diversification
  • Near-zero interest rate risk, moderate credit risk
  • Experienced investment team with considerable expertise in credit

Investment case

Cash is currently offering zero, or even negative rates. Against this backdrop, UBAM - Dynamic Euro Bond is offering an appealing yield-to-risk profile. The fund is positioned in stable names with a limited credit risk of less than 2.0 years and an average rating of BBB/A. In addition, it will benefit from rising short-term interest rates through its exposure to floating-rate notes.

Fund concept

UBAM - Dynamic Euro Bond aims to provide investors with consistent excess returns above money-market rates with nearzero interest-rate risk and moderate credit risk. It seeks to achieve euro three-month Libor +100 bp per year (net of fees) within a target maximum annualised volatility rate of 1.5%. The fund consists of a core portfolio that invests primarily in euro-denominated, shortduration floating-rate notes issued by a diverse range of financial and non-financial companies.

Performance

UBAM - Dynamic Euro Bond AC EUR
NAV - Net Asset Value
Date
Data source : UBP SA
Historical performance MTD YTD 1 year 3 years 5 years Since launch
Historical performance 0.37% -1.92% -2.05% -1.02% -0.72% 3.13%
Calendar year 2019 2018 2017 2016 2015
Calendar year 0.21% -1.30% 0.01% 0.08% -0.40%
12 months rolling 05.19 - 05.20 05.18 - 05.19 05.17 - 05.18 05.16 - 05.17 05.15 - 05.16
12 months rolling -2.05% -0.43% -0.56% 0.04% -0.57%
Disclaimer

Performance under 1 year is shown cumulated. Performance over 1 year is shown annualised.

Past performance is not indicative of present and/or future results. Price and availability are subject to change without notice. The value of investments may go up or down and investors may not get back the amount invested. Changes in foreign exchange rates may also cause the value of investments to fluctuate.

Library

LEGAL DOCUMENT
Title Updated English German French Italian
Annual report 31.12.2019 PDF
KIID 01.04.2020 PDF PDF PDF PDF
Prospectus 28.02.2020 PDF
Semi-annual report 30.06.2019 PDF
Status – Articles of Association 28.08.2017 PDF
MARKETING DOCUMENTATION
Title Updated English German French Italian
Factsheets 30.04.2020 PDF PDF PDF PDF
Monthly Report 30.04.2020 PDF
Product card 31.12.2020 PDF PDF PDF PDF
Quarterly comment 31.03.2020 PDF

Registration

ATAustria
BEBelgium
CHSwitzerland
DEGermany
DKDenmark
ESSpain
FIFinland
FRFrance
GBUnited Kingdom
GIGibraltar
IEIreland
ILIsrael
ITItaly
KRSouth Korea
LULuxembourg
NLNetherlands
NONorway
PTPortugal
SESweden
SGSingapore
TWTaiwan
ATAustria
BEBelgium
CHSwitzerland
DEGermany
DKDenmark
ESSpain
FIFinland
FRFrance
GBUnited Kingdom
GIGibraltar
IEIreland
ILIsrael
ITItaly
KRSouth Korea
LULuxembourg
NLNetherlands
NONorway
PTPortugal
SESweden
SGSingapore
TWTaiwan

Italy: I shares are only notified to the CONSOB.

Singapore: Sub-funds registered with the MAS (Monetary Authority of Singapore) can only be offered to “accredited investors”.


Fiscal information

Titre Statut
End of fiscal year 31 December
UK RFS Yes Reportable Income
German transparency Yes Investor Report
Austrian transparency Yes
Italian reporting Yes
Switzerland RNI Yes
  • ISIN code
  • LU0029761706
  • Data as at
  • 28.05.2020
  • Latest NAV
  • 247.14 EUR
  • Fund's AUM
  • 261.23M EUR

Fund data

  • Fund name UBAM
  • Legal structure SICAV
  • Jurisdiction Luxembourg

Sub-fund data

  • Base currency EUR
  • Asset class Fixed Income
  • Geographical bias Europe
  • Inception date 18.12.1990

Share class data

  • Description AC EUR
  • Launch date 18.12.1990
  • Dividend type CAPITALISATION
  • Minimun initial investment None
  • Subscription Daily
  • Redemption Daily
  • Management fee 0.20%
  • Performance fee No
  • Performance fee rate N/A
  • Last dividend N/A

Identifiers

  • Bloomberg UBMSSTE LX
  • Telekurs 600628
  • Reuters 60006619
  • WKN 926378
  • SEDOL 5157019
  • Morningstar N/A
  • Financial Express UC83

Manager(s)

    Christel Rendu de Lint / Philippe Graub