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Global Dynamic Bond Fund

Our Global Dynamic Bond Fund (GDB) is a flexible, “go-anywhere” approach to fixed income investing. The fund is unconstrained by benchmark allocations, allowing for the ability to seek attractive total returns by investing across the full market spectrum.

 
       

The tools available to the fund include:

  • Government bonds
  • Corporate bonds
  • Mortgage backed securities

 

  • Asset backed securities
  • Convertible bonds
  • Emerging market debt

 

  • Floating rate notes
  • Cash
  • Derivatives

Risk control is pivotal

Interest rate and credit risk are managed dynamically and the strategy is limited to a monthly value at risk of 5.75%*. The strategy is offered via a Dublin-based UCITS vehicle, launched in early 2015.

Investment Approach

Strategic Core

We form top-down views of macro-economic and market-driven themes at the global level, based on NAM’s in-house research, the portfolio managers own views and selected third party analysis. These views lead to a strategic core portfolio, designed to benefit from expected changes in fixed income markets. This strategic core portfolio typically consists of 100-140 individual bonds, and accounts for at least 80% of the assets of the strategy.

Portfolio Protection

Our portfolio manager dynamically hedges risks within the strategic core portfolio using derivatives. The hedges are constructed to protect the portfolio in case of adverse market movements over a shorter time-frame. The nature and degree of hedging is actively managed, enabling the us to position for market conditions and events that might lead to volatility in the strategic core portfolio.

About the Portfolio Manager - Richard ‘Dickie’ Hodges

Dickie joined NAM in November 2014 to launch the Global Dynamic Bond Fund. Prior to joining NAM, Dickie held the role of Head of High Alpha Fixed Income at Legal & General Investment Management (LGIM), managing its “Dynamic Bond Trust” – an unconstrained fixed income fund. He managed the Dynamic Bond Trust from its inception in 2007 until April 2014.

Fixed Income at Nomura Asset Management

Dickie draws extensively on NAM’s global fixed income team to provide both top-down strategic and bottom-up asset selection ideas for the GDB Fund.

More than 100 portfolio managers, analysts, economists and traders are dedicated to supplying information and ideas for our global fixed income strategies. The NAM Group has managed Fixed Income investments since 1989. Today we manage portfolios on behalf of some of the world’s largest institutions, including Pension Schemes, Central Banks and Sovereign Wealth funds.

For more information on the Global Dynamic Bond Fund please contact us at info@nomura-asset.co.uk.

* Ex-ante monthly VaR, 99% confidence interval. This means that in 99% of outcomes, the Fund will experience a loss of no greater than 5.75% in a given month.

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