Tabula European IG Performance Credit UCITS ETF (EUR) - GBP - Hedged - Dist.

AuM:
€14'163'697
Ongoing charges:
0.55%
NAV:
£100.0999
Ticker:
TCEG
Benchmark ticker:
ITRXPRIG Index

Data: Net Asset Value (NAV) and Assets under Management (AuM) as of 21 April 2021

Capital is at risk. The value of your investment may go down as well as up and you may not get back the amount you invested. Investors should read the Key risks section of this page, Key Investor Information Document and Prospectus prior to investing. Prior to the 21 April 2021, the Tabula European IG Performance Credit UCITS ETF was named the Tabula European Performance Credit UCITS ETF and tracked the iTraxx European Performance Credit Index, a benchmark with 240% investment grade and 60% high yield exposure.

Passive exposure to European credit markets, with minimal interest rate risk.

The Tabula European IG Performance Credit UCITS ETF (EUR) (the Fund) aims to track the iTraxx European IG Performance Credit Index (the ITRXPRIG Index), less fees and expenses.

About the index

The ITRXPRIG Index provides diversified exposure to European corporate credit, primarily investment grade. To emphasise credit risk and reduce direct interest rate risk, it takes exposure via a liquid credit default swap (CDS) index rather than individual corporate bonds:

  • iTraxx Europe 5y (125 investment grade entities, equal weight)

The index reflects the return from selling protection on the current series of the CDS index. It takes total market exposure of 400%, rebalanced monthly. Exposure is calculated as the ratio of CDS bond equivalent price to index value, so the ratio of notional to Net Asset Value may not be exactly 400%.

Investment process

The Fund aims to directly replicate the index composition via CDS index positions and cash collateral (typically investment grade European sovereign bonds with maturity <12 months). To minimise counterparty risk, CDS index trades are executed through regulated brokers and centrally cleared.

Registered countries

The fund is currently registered for sale in Ireland, Austria, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Spain, Portugal, Sweden, Switzerland, United Kingdom.

Fund information
ReplicationDirect
Issuer: Tabula ICAV
Investment manager:Tabula Investment Management Ltd.
Custody & administration:HSBC Securities Services (Ireland) DAC
Fund inception:21 August 2018
Share class inception:2 July 2019
Ongoing charges:0.55%
Income treatment: Distributing; Semi-annual
Domicile: Ireland
Base currency: EUR
Share class currency: GBP
Primary listing: London Stock Exchange
Primary ticker:TCEG
ISIN: IE00BF2T2N67
UK distributor/reporting status:Yes
ISA & SIPP eligible: Yes
Index information
Index name:iTraxx European IG Performance Credit Index
Index provider:IHS Markit
Bloomberg index ticker: ITRXPRIG Index
Regional focus:Europe
Listing information
Exchange:London Stock Exchange
Trading hours:0800 to 1630 London time
Trading currency:GBP
Settlement:T+2, however primary market creation settles T+1
Exchange ticker:TCEG
Bloomberg ticker:TCEG LN
RIC:TCEG.L
SEDOL/VALOR:BF2T2N6
WKN:A2PM3N
Recent distributions
Announcement date:14 January 2021
Ex-date:21 January 2021
Record date:22 January 2021
Payment date:4 February 2021
Distribution per share:GBP 2.3398
Distribution frequency:Semi-annual

Key risks

No capital protection: The value of your investment may go down as well as up and you may not get back the amount you invested.

Market risk: The fund is primarily exposed to credit risk. Returns will suffer if there is a default, or higher perceived risk of default, among the entities referenced by the CDS indices, or a write-down (“bail in”) of an entity’s debt by financial authorities. The fund may also be impacted by other factors affecting the value of debt securities issued by those entities, including changes in interest rates and exchange rates. When selling CDS on subordinate debt, such debt may be subordinate to senior debt.

Leverage: The fund uses leverage, so losses may be magnified.

Liquidity risk: If there are insufficient buyers or sellers of CDS indices, the fund may not be able to match index exposure exactly and investors may not be able to buy or sell fund units. Neither the Index provider nor the issuer make any representation or forecast on the liquidity of CDS transactions.

Counterparty risk: The fund may incur losses if any institution providing services or acting as a derivatives counterparty becomes insolvent.

Currency risk: Currency hedging may not completely eliminate currency risk in the Sub-Fund and may affect its performance.

Contact us for further information about Tabula ETFs.

Email  info@tabulaim.com
Phone  +44 20 3909 4700