Global Credit Bond Fund
Global Credit Bond Fund - Institutional EUR Hedged Dist (VGCBIEI)
Related Documents
About this fund
Fund objectives
- The Fund seeks to provide a moderate and sustainable level of current income by investing in a diversified portfolio of global credit bonds.
- The Fund employs an “active management” strategy, and while the Fund will invest substantially in components of the Bloomberg Global Aggregate Credit Index, its investment manager will follow distinct approaches in managing the Fund’s assets.
- The Investment Manager may in its discretion restrict the extent to which the Fund’s holdings deviate from the Index constituents on a security selection and fixed income sector basis. The Fund may take active fixed income sector views with the focus on bond specific selection. The extent to which the Fund can outperform the Index may be restricted by constraints applied by the Investment Manager which limit the potential volatility of the difference between the return of the Fund and the return of the Index. Such constraints may change or be removed from time to time at the Investment Manager’s discretion and depending on market environments.
Fund facts
Share class inception
21 Jun 2023
Minimum initial investment
€5,000,000.00
Investment structure
Irish UCITS
Share Class Assets'
Total Assets
Risk indicator
Strategy
Active
Asset Class
Bond
Domicile
Ireland
Dividend schedule
Quarterly
Currency
EUR
Index ticker
H03434EU
Benchmark
Bloomberg Global Aggregate Credit Index in EUR
Register countries
Germany, Jersey, C.I., Liechtenstein, Denmark, Norway, Switzerland, Finland, Italy, Spain, France, Luxembourg, Ireland, Portugal, Guernsey, C.I., Isle of Man, Austria, Sweden, United Kingdom and Netherlands
The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
Performance
Risk and Volatility
As at 31 Aug 2026
Beta
R²
Annualized Tracking Error
1 year
3 years
5 years
—Please note Beta and R-squared data will only display for funds with 3 full years of history.
The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
Portfolio data
Characteristics
| Fundamentals | Fund | Benchmark | As at |
|---|---|---|---|
| Number of bonds | 1,736 | 21,608 | 31 Aug 2026 |
| 5.2% | 4.9% | 31 Aug 2026 | |
| 4.7% | 4.1% | 31 Aug 2026 | |
| 8.4 Years | 8.3 Years | 31 Aug 2026 | |
| A- | A | 31 Aug 2026 | |
| 5.7 Years | 5.7 Years | 31 Aug 2026 | |
| Cash Investment | 2.2% | — | 31 Aug 2026 |
Market allocation
As at 31 Aug 2026
| Country | Region | Fund | Benchmark | Variance +/- |
|---|---|---|---|---|
| United States of America | North America | 40.33% | 44.32% | -3.99% |
| United Kingdom | Europe | 7.84% | 5.18% | 2.66% |
| Supranational | Other | 7.00% | 11.21% | -4.21% |
| Australia | Pacific | 6.22% | 1.78% | 4.44% |
| Germany | Europe | 4.57% | 4.17% | 0.40% |
| Italy | Europe | 3.99% | 1.45% | 2.54% |
| France | Europe | 2.07% | 5.01% | -2.94% |
| Austria | Europe | 2.06% | 0.34% | 1.72% |
| Other | Other | 1.94% | 0.00% | 1.94% |
| Sweden | Europe | 1.70% | 0.80% | 0.90% |
| Spain | Europe | 1.62% | 1.48% | 0.14% |
| Lithuania | Europe | 1.60% | 0.01% | 1.59% |
| Switzerland | Europe | 1.27% | 0.91% | 0.36% |
| Saudi Arabia | Emerging Markets | 1.14% | 1.33% | -0.19% |
| Netherlands | Europe | 1.02% | 1.52% | -0.50% |
Distribution by credit quality (% of funds)
As at 31 Aug 2026
| Credit Rating | Fund |
|---|---|
| AAA | 7.02% |
| AA | 7.35% |
| A | 26.37% |
| Less than BBB | 4.55% |
| BBB | 52.95% |
| Not Rated | 1.77% |
Distribution by credit issuer (% of funds)
As at 31 Aug 2026
| Issuers | Fund |
|---|---|
| Treasury/Federal | 5.40% |
| Gov-Related-Provincials/Municipals | 0.09% |
| Gov-Related-Agencies | 6.90% |
| Gov-Related-Local Authority | 1.40% |
| Gov-Related-Sovereign | 7.26% |
| Gov-Related-Supranational | 7.00% |
| Corporate-Industrials | 30.02% |
| Corporate-Utilities | 9.08% |
| Corporate-Financial Institutions | 30.79% |
| Cash | 2.25% |
| Other | -0.20% |
Distribution by credit maturity (% of funds)
As at 31 Aug 2026
| Maturity | Fund |
|---|---|
| Under 1 Year | 2.70% |
| 1 - 5 Years | 33.30% |
| 5 - 10 Years | 38.40% |
| 10 - 15 Years | 8.50% |
| 15 - 20 Years | 5.37% |
| 20 - 25 Years | 2.69% |
| Over 25 Years | 9.05% |
Holdings details
As at 31 Aug 2026
| Holding name | % of market value | Market value | Face amount | Coupon/Yield | Maturity date |
|---|---|---|---|---|---|
| European Union | 1.85725% | €41,241,844.69 | 36,867,450 | 2.50% | 04 Dec 2031 |
| European Union | 1.70084% | €37,768,630.16 | 37,000,000 | 1.00% | 06 Jul 2032 |
| European Union | 1.27922% | €28,406,131.11 | 24,910,000 | 2.88% | 13 Oct 2031 |
| AMCO - Asset Management Co SpA | 1.11632% | €24,788,862.94 | 21,764,000 | 2.75% | 15 Mar 2029 |
| SW Finance I PLC | 1.05570% | €23,442,852.04 | 16,641,000 | 7.75% | 31 Oct 2031 |
| Kommunalkredit Austria AG | 1.05512% | €23,429,861.35 | 19,700,000 | 5.25% | 28 Mar 2029 |
| Artea Bankas AB | 0.92892% | €20,627,470.77 | 17,600,000 | 4.60% | 25 Jun 2030 |
| Czechoslovak Group AS | 0.78252% | €17,376,577.68 | 14,700,000 | 5.25% | 10 Jan 2031 |
| Triodos Bank NV | 0.73584% | €16,339,950.08 | 14,200,000 | 5.50% | 03 Jun 2037 |
| DVI Deutsche Vermoegens- & Immobilienverwaltungs GmbH | 0.69732% | €15,484,677.51 | 13,200,000 | 4.88% | 21 Aug 2030 |
Prices and distribution
Prices
NAV Price (EUR)
€96.29
EURChange
-€0.31-0.32% At closure 05 Oct 2026
NAV 52-week high
€104.59
At closure 05 Oct 2026
NAV 52-week low
€96.32
At closure 05 Oct 2026
NAV 52-week difference
€8.27
Change
+7.90% At closure 05 Oct 2026
Historical Prices
-
Inception date
21 Jun 2023
| Date | NAV (EUR) |
|---|---|
| 05 Oct 2026 | €96.2885 |
| 02 Oct 2026 | €96.6023 |
| 01 Oct 2026 | €96.4230 |
| 30 Sep 2026 | €96.3226 |
| 29 Sep 2026 | €97.4908 |
| 28 Sep 2026 | €97.4869 |
| 25 Sep 2026 | €97.8909 |
| 24 Sep 2026 | €97.9103 |
| 23 Sep 2026 | €98.3339 |
| 22 Sep 2026 | €99.3501 |
Distribution history
Distribution frequency
Quarterly
Historical performance 31 Aug 2026
4.59%
| Type | Distribution amount (per unit) | Ex-dividend date | Registration date | Payable date |
|---|---|---|---|---|
| Income | €1.1573 | 30 Sep 2026 | 29 Sep 2026 | 14 Oct 2026 |
| Income | €1.1695 | 30 Jun 2026 | 29 Jun 2026 | 14 Jul 2026 |
| Income | €1.1576 | 31 Mar 2026 | 30 Mar 2026 | 16 Apr 2026 |
| Income | €1.1288 | 31 Dec 2025 | 30 Dec 2025 | 15 Jan 2026 |
| Income | €1.1382 | 30 Sep 2025 | 29 Sep 2025 | 14 Oct 2025 |
| Income | €1.1255 | 30 Jun 2025 | 27 Jun 2025 | 14 Jul 2025 |
| Income | €1.1213 | 31 Mar 2025 | 28 Mar 2025 | 14 Apr 2025 |
| Income | €1.1938 | 31 Dec 2024 | 30 Dec 2024 | 15 Jan 2025 |
| Income | €1.1553 | 30 Sep 2024 | 27 Sep 2024 | 14 Oct 2024 |
| Income | €1.1857 | 28 Jun 2024 | 27 Jun 2024 | 12 Jul 2024 |
Purchase information
Currency
Base currency:EUR
Fund codes
- Bloomberg:VGCBIEI
- Citi:AH9PT
- ISIN:IE000STP7RR0
- MEX ID:VIAALL
- SEDOL:BNQN4H8