Data: Net Asset Value (NAV) and Assets under Management (AuM) as of 18 October 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.
Fund performance is not available until a year after launch. Index values are calculated by IHS Markit. Past performance (actual or simulated) is not a reliable indicator of future performance. 10 year chart rebased at 100.
|Sep 16 - Sep 17||Sep 17 - Sep 18||Sep 18 - Sep 19||Sep 19 - Sep 20||Sep 20 - Sep 21|
|Fund (after fees)||n/a||n/a||n/a||2.1%||-11.8%|
|Since share class inception|
|Fund (after fees)||-5.4%||0.1%||-11.8%||n/a||n/a||-15.2%||-15.2%||n/a||n/a|
Data: Tabula IM/IHS Markit 30 September 2021 Volatility and Sharpe ratio is calculated over the 5 year period.
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 short credit risk. Returns will increase 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.
Short exposure risk: The fund uses a short market exposure to the underlying market with rebalancing on a monthly basis. The performance of the fund over periods longer than one month may not be inversely proportional or symmetrical with the returns of long positions in the underlying instruments. The assumed return on cash in the index also contributes to asymmetry in returns versus a long position. The fund is intended for investors who wish to take a short-term view on the Index and whose investments are not intended as buy and hold.
Leverage: The fund may use 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.
Credit risk: The issuer of a financial asset held within the fund may not pay income or repay capital to the fund when due.