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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.
The macroeconomic scenario is characterised at a global level by moderate, but slowing, growth. In the US, the strong economic cycle and job market have confirmed expectations of a slight rise in medium/long-term interest rates. In the Eurozone, gradual improvement in the labour market has produced signs of “wage inflation”, which is expected to continue in 2019. The process around the globe of eliminating expansive monetary policies has negatively affected the fixed income market. Political tensions within the Eurozone with the May parliamentary elections represent a factor of potential volatility. A prudent portfolio profile is being maintained through short durations, favouring the variable coupon component to hedge against interest rate risk. In December, the fund maintained a duration of 1.2 years with a 2.2% coupon yield and a yield to maturity of 3.0%. The portfolio’s coupon profile is 55% variable, 19% 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.