Global Fixed Income

Evidence Based Investing

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Portfolio Characteristics

Inception Date – January 2013
Currency – USD
Dividend Yield – 1.69%
Daily Liquidity

Investment Approach

Evidence Based Investing is our core investment philosophy, which means that rather than relying on short-term forecasting, we draw information about expected returns from the market itself. Letting markets do what they do best, drive information into prices, frees us up to spend time where we believe we have an advantage, namely in how we interpret the research and how we design and manage portfolios. It means we take a more systematic approach to investing, an approach we can implement consistently, and investors can understand and stick with, even in challenging market environments.

Rigorous, unbiased research has yielded six expected return premia for patient investors, which are equity premium, small cap premium, value premium, profitability premium, term premium and credit premium. We then select the most suitable securities to create the desired market exposure in the most cost and tax efficient way to capture these premiums.

We manage investment risks by using the combined powers of diversification and asset allocation. Diversification is a way to dampen risks. While some risks can be diversified away, market risk however remains and is expected to enhance your long-term returns if you build them into your total portfolio, and if you stay the course with them over time.

Asset allocation is determined by the investor’s specific goals and times frames and guided by his or her risk tolerance and capacity.

Strategy Description

The Global USD Fixed Income Portfolio invests in USD denominated fixed income and aims to delivers an attractive risk adjusted yield.

The portfolio seeks to generate a higher yield than the Bloomberg Barclays USD Aggregate Bond Index through tactical investing in investment and non-investment grade bonds, as well as emerging market debt.

The core of the portfolio will be formed by U.S. Treasuries of different maturity.

This portfolio strategy is suitable for investors with a low risk appetite.

Portfolio Performance

YTD 2020 2019 2018 2017 2016 2015
Portfolio-0.32%5.78%10.97%-1.73%5.01%2.51%-2.07%
as of 29/01/2021

Annualised Return

Standard Deviation

Sharpe Ratio

Portfolio2.63%4.00%0.66%

Allocation

America 54.45%

Greater Europe 16.23%

Asia Pacific 25.63%

Central/Latin America 2.01%

Central Asia 0.77%

Africa/ Middle East 0.90%

Sector

Financials

null

Industrials

0.00%

Consumer Discretinoary

0.00%

Real Estate

0.00%

Consumer Staples

0.00%

Materials

0.00%

Healthcare

0.00%

Utilities

0.00%

Technology

0.00%

Energy

0.00%

Telecommunication

0.00%

Sector

Financials

null

Industrials

0.00%

Consumer Discretinoary

0.00%

Real Estate

0.00%

Consumer Staples

0.00%

Materials

0.00%

Healthcare

0.00%

Utilities

0.00%

Technology

0.00%

Energy

0.00%

Telecommunication

0.00%

Sector

Investment Grade

65.42%

High Yield

1.67%

Other

32.92%

Financials

0.00%

Industrials

0.00%

Consumer Discretionary

0.00%

Real Estate

0.00%

Consumer Staples

0.00%

Materials

0.00%

Healthcare

0.00%

Utilites

0.00%

Technology

0.00%

Energy

0.00%

Communications

0.00%

Investment Grade

65.42%

High Yield

1.67%

Other

32.92%

Sector

Diversified Reits

null

Office Reits

0.00%

Retail Reits

0.00%

Hotel & Resort Reits

0.00%

Industrial Reits

0.00%

Financials

0.00%

Industrials

0.00%

Consumer Discretionary

0.00%

Real Estate

0.00%

Consumer Staples

0.00%

Materials

0.00%

Healthcare

0.00%

Utilites

0.00%

Technology

0.00%

Energy

0.00%

Communications

0.00%

Investment Grade

65.42%

High Yield

1.67%

Other

32.92%

Top Holdings

StockWeight

JPMorgan USD Ultra-Short Income UCITS ETF22.61%

Vanguard USD Corporate Bond UCITS ETF19.73%

iShares Global Corp Bond UCITS ETF18.13%

iShares USD TIPS UCITS ETF12.01%

Xtrackers II USD Asia ex Japan Corporate Bond UCITS ETF9.90%

iShares JP Morgan EM Local Government Bond UCITS ETF8.42%

iShares China CNY Bond UCITS ETF8.22%

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