DISCLAIMER

The services and investment funds referenced in this website should not be regarded as an offer of solicitation for such services or investment funds in any jurisdiction where such activity is unlawful. This website is not directed at you, if we are prohibited by any law of any jurisdiction from making the information on this site available to you and is not intended for any use which would be contrary to local law or regulation.

The promotion of these Funds is restricted to clients who are experienced investors (Professional clients or Eligible counterparties as defined by the FCA) in these types of funds. This website and its contents are not intended to sell services or products over the internet, rather for internet viewer convenience and informational purposes. Subscriptions will only be received and shares issued on the basis of the current prospectus or Scheme Particulars for the fund. Every effort has been made to ensure the accuracy of the financial information herein but it is based on unaudited figures.

Past performance is not a guarantee of future performance. It should be remembered that the value of investments may fall as well as rise, investors may not get back the amount of money invested, currency movements may have a negative as well as positive influence on returns and past performance is not necessarily an indicator of future performance. Any investment decision should be made solely on the basis of the information and risk warnings contained within the information memorandum and/or prospectus issued by or on behalf of the fund or company concerned.

The Tendercapital Ltd funds are not available for purchase by US persons. Shares in the funds described on this website are not available for sale in any jurisdiction in which sale would be prohibited. Nothing in this website constitutes investment, legal, tax or other advice nor is it to be relied upon in making an investment decision. Please note that authorization by the FCA does not imply official approval or recommendation.

The information contained in this website shall not be published, rewritten for broadcast or publication or redistributed in any medium without prior written permission from Tendercapital Ltd.
Tendercapital Ltd is authorized and regulated by the Financial Conduct Authority.

Accept

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.

The Fund in a Nutshell

ESG Report

Risk-reward profile

Positive annual return, with separate risk controls for each issue, and overall risk review on the portfolio in its entirety.

FUND MANAGER'S COMMENTARY

December was characterised by a marked increase in risk-free rates, combined with a slight decline in risk premiums. Short-term interest rates rose by about 60 basis points, with the German yield and the two-year Euro swap rate at 2.6% and 3.4%, respectively.

Inflation expectations, implied by swap rates, remained stable around 2.5% for the medium-to-long term, but fell below 5% for the next twelve months.

The portfolio’s performance was dictated by the inflation-indexed government strategy, with a contribution of about -35 bps, driven by the duration effect. The investment grade credit strategy yielded a marginal contribution, benefiting from exposure to floating rates.

The portfolio allocation remained unchanged during the month.

The monetary nature of the instrument leads to a preference for a low risk profile in terms of both credit (average portfolio rating of A) and rate (duration of 0.9 years). Specific risk is reduced by broad diversification of issuers and the presence of 91 securities in portfolio. The weight of the portfolio top ten increased to 36%.

The fund has an ESG rating of AA, based on its MSCI score.

MORNINGSTAR CATEGORY

ISIN Code Share Class: GLOBAL BOND SHORT DURATION RETAIL ACC A SHARE CLASS
ISIN Code: IE00BYWP0S80
Consult monthly factsheet

ISIN Code Share Class: GLOBAL BOND SHORT DURATION INSTITUTIONAL ACC AI SHARE CLASS
ISIN Code: IE00BYWP0W27

Distribution: Ireland, United Kingdom, Italy, Switzerland

KIID

The KIID (Key Investment Information Document) provides you with key investor information about the funds.
The information is required by law to help you understand the nature and the risks of investing in this fund.
You are advised to read it so you can make an informed decision about whether to invest.
Please select just the KIID(s) related to your country of residence.

KID

The KID (Key Information Document) is a pre-contractual document, which enable retail investors to understand and compare the key features and risks of the relevant product.
The KID provides the key information about the investment product and therefore is not marketing material.
The information is required by law to help retail investors to understand the nature, risks, costs, potential gains and losses of the product.
The investors are advised to read the KID in order to make an informed decision about whether to invest.

DISTRIBUTORS RETAIL
INSTITUTIONAL

[1] Distributors marked with [1] 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.

[2] Distributors marked with [2] 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.

We believe that each gesture, though simple, makes the difference.
So, we use an energy-saving screen when websurfing is inactive.
The less the power used, the more the benefits for the environment.

Click anywhere to resume

WordPress Video Lightbox