Gesconsult

RF High Yield USD

The fund invests directly or indirectly through other funds (max. 10%) the 100% of its exposure in fixed income assets, mainly in high yield corporate bonds.

The fixed income universe includes deposits, money market instruments listed or not. The fund can have a 40% invested in subordinated debt, including contingent convertible bonds (write-down principal) not convertible into stocks. These kinds of instruments are issued in perpetuity with option to repurchase by the issuer, and in the event of a contingency, a write-off may be applied to the principal of the bond, negatively affecting the NAV.

The fixed income instruments will be of low credit quality or without rating from OCDE issuers mainly denominated in USD and the 25% of the exposure can be in emerging markets issuers, not existing sectorial, geographical or duration limitations.

The exposure to currency risk will range from 10% to 100% of its total exposure. Although the issuers where the fund is invested are in USD, the fund is denominated in Euros.

Documentation [Spanish]