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

AuM:
€16'578'180
Ongoing charges:
0.50%
NAV:
€99.9226
Ticker:
TCED
Benchmark ticker:
ITRXPRFL

Data: Net Asset Value (NAV) and Assets under Management (AuM) as of 25 September 2020

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.

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

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

About the index

The ITRXPRFL Index provides diversified exposure to European corporate credit, primarily investment grade. To emphasise credit and minimise interest rate risk, it takes exposure via credit default swaps (CDS) rather than individual corporate bonds.

  • 80% iTraxx Europe 5y (125 investment grade entities, equal weight)
  • 20% iTraxx Crossover 5y (75 sub-investment grade entities, equal weight)

The index reflects the return from selling protection on the current series of each CDS index. It takes total market exposure of 300%, allocated in an 80/20 ratio to iTraxx Europe and iTraxx Crossover respectively, and is rebalanced monthly.

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:25 October 2018
Ongoing charges:0.50%
Income treatment: Distributing; Semi-annual
Domicile: Ireland
Base currency: EUR
Share class currency: EUR
Primary listingLondon Stock Exchange
Primary tickerTCED
ISINIE00BG0J8L59
UK distributor/reporting status:Yes
ISA & SIPP eligibleYes
Index information
Index name:iTraxx European Performance Credit Index
Index provider:IHS Markit
Bloomberg index tickerITRXPRFL Index
Regional focus:Europe
Listing information
Exchange:London Stock ExchangeBX SwissXetra
Trading hours:0800 to 1630 London time0900 to 1730 Swiss time0900 to 1730 German time
Trading currency:EUREUREUR
Settlement:T+2, however primary market creation settles T+1T+2, however primary market creation settles T+1T+2, however primary market creation settles T+1
Exchange ticker:TCEDTCEDTABD
Bloomberg ticker:TCED LNTCED SWTABD GR
RIC:TCED.LTCED.Sn/a
SEDOL/VALOR:BF5BYT943398571n/a
WKN:A2N81AA2N81AA2N81A
Recent distributions
Announcement date:18 June 2020
Ex-date:25 June 2020
Record date:26 June 2020
Payment date:09 July 2020
Distribution per share:EUR 1.5615
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.

Contact us for further information about Tabula ETFs.

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