6 October 2011
HPWM Rendement 2014*
The HPWM Rendement 2014 fund aims to achieve a superior level of performance over the recommended investment period to that of stripped government bonds 25.10.2014.
The fund’s performance will mainly be achieved by holding private bonds up to maturity.
The investment policy is based on selecting private bonds benefiting on purchase from an Investment Grade rating and with solid credit perspectives over the term of the investment. The selected securities offer an attractive actuarial return and are designed to be held until maturity to achieve full benefit.
The fund is structured to obtain wide diversification against risk specific to different sectors and countries.
The fund has 61 lines within the portfolio at the end of September 2011. The largest positions are: General Electric 30.07.2014, British Telecom 11.07.2014 and Bacardi 09.04.2014. These securities were acquired when the fund was created.
Following the correction in the credit markets during the summer, the fund’s gross actuarial yield returned to an attractive level of 4% at the end of the September with the fund reaching maturity on 28 November 2014.
Rate sensitivity is 2.3%.
Since its launch on 19 June 2009 to 30 September 2011, the fund achieved a performance of 13.80% compared with 12.88% for its benchmark, an annualised performance of 5.83% since its creation. Its aims are:
Past performance is not a reliable indicator of future performance.
The fund’s capital is not guaranteed, its main exposure is to the following risks:
