Description: The objective of this Sub-fund is to follow as consistently as possible the performance of the JP Morgan GBI Global IGand to minimize the difference between its performance and that of the Index. To reach this objective, the Sub-Fund will invest in securities sampled from the Index which may lead to an increase of the tracking error.Within the framework of this two-tiered sampling method, the Investment Manager will use the following approaches:- A portfolio optimisation carried out by matching modified duration both in terms of maturity and of geographical allocation;- A bond picking process aiming to select the best bonds in term of relative value.
Exchange: LSE
Country: UK
Currency: Pence sterling (p)
Category: Global Bond
| Asset Allocation | |||
|---|---|---|---|
| Asset Class | Long % | Short % | Net Assets |
| Bond | 100.36 | 0.25 | 100.11 |
| Other | 17.00 | 15.22 | 1.78 |
| Stock non-US | 0.62 | 0.56 | 0.06 |
| Stock US | 0.02 | 0.02 | 0.00 |
| Cash | 53.51 | 55.47 | -1.96 |
| Sector Weights | ||
|---|---|---|
| Sector | Equity % | Relative to Category |
| Financial Services | 19.13 | 0.00 |
| Technology | 18.09 | 0.00 |
| Consumer Cyclicals | 12.16 | 0.00 |
| Industrials | 9.90 | 0.00 |
| Basic Materials | 8.95 | 0.00 |
| Consumer Defensive | 8.24 | 0.00 |
| Healthcare | 7.43 | 0.00 |
| Communication Services | 6.03 | 0.00 |
| Energy | 5.22 | 0.00 |
| Utilities | 2.98 | 0.00 |
| Real Estate | 1.87 | 0.00 |
| World Regions | ||
|---|---|---|
| Region | Equity % | Relative to Category |
| Asia Emerging | 33.14 | 0.00 |
| Europe Developed | 27.78 | 86.63 |
| Asia Developed | 22.30 | 0.00 |
| Australasia | 10.03 | 0.00 |
| North America | 3.87 | 0.00 |
| United Kingdom | 1.77 | 13.37 |
| Japan | 0.84 | 0.00 |
| Latin America | 0.19 | 0.00 |
| Africa/Middle East | 0.07 | 0.00 |