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Fund in focus: UBP‘s CHF 5 bn Global High Yield Solution

What‘s happening inside the UBAM Global High Yield Solution fund?

Fund managers: 

UBP's CHF 5 billion UBAM Global High Yield Solution fund is co-managed by Christel Rendu de Lint and Philippe Gräub (pictured).

The duo manage a wide range of bond funds, including:

They were both Citywire + rated from April 2015 to July 2016. Apart from a brief return to + ratings in April 2018, they have not regained their status. 

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Fund managers: 

UBP's CHF 5 billion UBAM Global High Yield Solution fund is co-managed by Christel Rendu de Lint and Philippe Gräub (pictured).

The duo manage a wide range of bond funds, including:

They were both Citywire + rated from April 2015 to July 2016. Apart from a brief return to + ratings in April 2018, they have not regained their status. 

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Fund performance:

The fund has returned 9.7% over three years as of 31 October 2018. Over that period, it ranks sixth out of the 32 high yield bond funds tracked by Citywire.

The fund previously struggled to stay above the sector average, constantly dipping above and below every few months. However, since May 2017, it has been able to stay ahead, now performing well above the benchmark.

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Portfolio construction:

As indicated by its name, the fund primarily invests in high yield bonds. According to fund literature, the portfolio is largely made up of sovereign and quasi-sovereign debt dominated in US dollars. 

Its top 10 holdings are various US Treasurys, with its largest allocation (7.9%) going toward 1-3 year US Treasury notes, yielding 8% with a maturity date of 30 September 2020.

While it is mainly exposed to US high yield bonds (66%), it also allocates 34% to euro high yield bonds. 

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