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Global high yield bond funds that bled the most in July

The analysis is based on global fund flows experienced by funds available for sale globally.

In this gallery, we look at the five global high yield bond funds with the largest outflows in July.

The analysis is based on global fund flows experienced by funds available for sale globally. All flow figures are in US dollars.

Source: Morningstar

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In this gallery, we look at the five global high yield bond funds with the largest outflows in July.

The analysis is based on global fund flows experienced by funds available for sale globally. All flow figures are in US dollars.

Source: Morningstar

The MDPS TOBAM anti-benchmark global high yield fund suffered its largest outflows since inception in March 2017, where investors withdrew $58.1m this July.

Nonetheless, the fund returned 4.0% over one year to end July, outperforming the sector average of 1.5%.

The fund’s primary investment objective is to outperform the BofA Merrill Lynch global high yield index and provide long-term capital appreciation from global high yield credit securities denominated in USD, EUR, GBP and CAD.

The fund is managed by + rated Amine Aoun and Axel Cabrol.

The M&G global floating rate high yield fund started experiencing monthly net outflows since January 2019. Despite a brief reprieve in February, negative flows from the fund resumed in March.

Redemptions from the $1.7bn fund increased by 15.2% in July as compared to the previous month. Investors removed $82.3m from the global high yield fund in July. This is in comparison to $71.5m of net outflows seen in June.

Despite gathering net positive flows for the past three months from April to June, investor optimism for the CS global high yield bond fund faded in July, where $85.9m was removed from the fund.

93.9% of the fund are in corporates, which is overweight by its peers in the same asset class by 30.5%. It has a modified duration of 2.9 as compared to its asset class average of 3.7.

While the Russell investments global high yield fund bled $125.7m this July, flows into the fund year-to-date still stands at a net positive of $114.5m. The fund attracted net new money in March and April, bringing in a cumulative of $309.8m.

The fund outperformed its sector average by 5.1%, returning 6.6% over one year to end July.

The $847.1 m fund is managed by senior portoflio manager, Keith Brakebill who is based in Seattle.

The HSBC GIF global high yield bond fund recorded $173.3m of net outflows this July.

Nonetheless, the fund is ranked 29 out of 232 funds in the global high yield bond sector in terms of three year total return ending July. The fund achieved a 11.0% total return in this time period as compared to the sector average of 4.0%.

The $1.7 bn fund is managed by duo Mary Bowers and Nishant Upadhyay.

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Related Fund Managers

Amine Aoun
Amine Aoun
Nishant Upadhyay
Nishant Upadhyay Average Total Return:
9.3%
3/9 in Bonds - Global High Yield (Performance over 3 years)
Mary Bowers
Mary Bowers Average Total Return:
9.3%
4/9 in Bonds - Global High Yield (Performance over 3 years)
Keith Brakebill
Keith Brakebill
Axel Cabrol
Axel Cabrol
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