Launch of Defensive Bond Opp. 2026
Friday 9 December 2022
The 10th fixed-maturity fund at Anaxis AM
Anaxis AM is launching Defensive Bond Opp. 2026, a new bond fund maturing on 31 December 2026. We are strengthening our fixed-maturity bond offer with this new UCITS fund, our 10th of its kind, after more than 10 years as a pioneer in the segment. This new fund invests in corporate bonds with an average rating of Investment Grade and a maturity date close to 2026.
Historically attractive yields
As central banks continue to raise interest rates, the Investment Grade segment has once again become attractive to investors, offering historically strong yields. The yield in EUR of the fund ranges between 4.5% and 5%, which provides real protection from inflation (real yield expected at around 2%, taking into account inflation over the lifetime of the fund).
The short end of the yield curve (between 3 and 5 years) offers the most opportunities, which is why we selected 2026 as the ideal fund maturity. Investors have little advantage in taking the risk of a longer duration. Technical factors support the market, with significant inflows into the asset class since June 2022, following the major outflows at the start of the year.
Fixed-maturity funds, excellent for visibility
The strategy of fixed-maturity funds brings together investors with the same horizon, allowing them to invest in bonds with similar maturities. This provides very good visibility and a pull to par effect, which reduces volatility as the bond approaches maturity.
Performance is traditionally created by carry and coupons, to which is added a very attractive return to par prospect in the current environment (average price of bonds in the target portfolio: 86.75%). The fund selects only corporate bonds, largely in non-cyclical sectors, and does not invest in the financial sector or in hybrid instruments.
Advantages of the fund for investors
An attractive investment solution: Defensive Bond Opp. 2026 invests in bonds that we consider to represent the best opportunities on the Investment Grade market segment, a credit quality that is offering historically attractive yields in the current environment (4.52% in EUR in the target portfolio as of 30/11/2022).
A robust solution: Defensive Bond Opp. 2026 does not invest in the financial or energy sectors and favours non-cyclical sectors. Investments are made based on a meticulous fundamental analysis of issuers.
A trustworthy asset manager: At Anaxis AM, we have been offering robust investment solutions to our clients for more than 10 years. Risk management is central to our approach and we focus on transparency and close relationships with our investors.
A team of experts: Anaxis AM has a team of five specialists in corporate bonds.
Key figures of the target portfolio
(30 November 2022)
Defensive Bond Opp. 2026
Average yield (EUR)*: 4.52%
Average yield (USD)*: 7.51%
Average yield (CHF)*: 3.03%
Duration (years): 3.95
Number of issuers: 64
Average bond price: 86.74
*Institutional classes, gross yield
EUR I1: FR001400DS90
USD J1: FR001400DS74
CHF K1: FR001400DS58