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TCGBSDTendercapital Global Bond Short Duration
Fixed income fund, euro denominated, which invests in Corporate and Sovereign Debt with maximum duration below 5.
Fund strategy: Accurate and fundamental analysis of the Issuer.
Identification of valuable opportunities according to our fundamental research and continued risk monitoring, keeping the overall duration of the portfolio under 5.
The portfolio will comprise of diversified single investment opportunities, allowing to macro conditions, therefore maintaining a medium-low risk profile.
Positive annual return, with separate risk controls for each issue, and overall risk review on the portfolio in its entirety.
In February, the bond markets continued to register positive performance, although it was slowing compared to the first month of the year. The high yield segment was confirmed as the best bond asset class since the start of the year and the reduction of the risk premium continued with earnings close to 1.5% in the US and 2.0% in Europe. The emerging market was stable, with negative performance on the government segment in local currency due to the continued strength of the dollar. Negative returns on the government segment in the US, with parallel upward movement of the curve of roughly 10 bps, and in the EU, where the segment marked -0.3% in the last month. However, the continuation of numerous factors of uncertainty at geopolitical level within a context of deteriorating economic growth means that a defensive investment profile should be preferred after recent gains. Exposure to a variable or mixed coupon profile is favoured, for positioning in relation to less accommodating monetary policies in the medium term. The objective of the product is to minimise rate risk through short durations. In February, the fund maintained a duration of 1.2 years with a 2.1% coupon yield and a yield to maturity of 2.5%. The portfolio’s coupon profile is 54% variable, 20% mixed, and the remaining 26% fixed.
ISIN Code Share Class: GLOBAL BOND SHORT DURATION RETAIL ACC A SHARE CLASS
ISIN Code: IE00BYWP0S80
Consult monthly factsheet
Share Class: GLOBAL BOND SHORT DURATION RETAIL ACC B SHARE CLASS
ISIN Code: IE00BYWP0T97
Share Class: GLOBAL BOND SHORT DURATION RETAIL ACC C SHARE CLAS
ISIN Code: IE00BYWP0V10
ISIN Code Share Class: GLOBAL BOND SHORT DURATION INSTITUTIONAL ACC AI SHARE CLASS
ISIN Code: IE00BYWP0W27
Distribution: Ireland, United Kingdom, Italy, Switzerland
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 Distributors marked with  act as sub-distributors on behalf of Allfunds Bank S.A., which serves as primary distributor (without exclusive agreement) of Tendercapital Funds plc’s shares in Italy, with option to make use of sub-distributors.
 Distributors marked with  act as sub-distributors on behalf of Online Sim SpA, which serves as primary distributor (without exclusive agreement) of Tendercapital Funds plc’s shares in Italy, with option to make use of sub-distributors.