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Fund portrait

The investment universe of our bond fund consists of globally traded bonds from a wide range of issuers and credit ratings. The investment objective of FV Global Bonds is to achieve an appropriate and steady performance. The bonds are selected with a flexible investment spectrum after a thorough analysis of the issuers as well as the macroeconomic environment. Derivatives may also be used to hedge against exchange rate risks or as a substitute for bonds. The fund promotes environmental and/or social characteristics within the meaning of Article 8 of the Disclosure Regulation (Regulation (EU) 2019/2088). 

 

Fund Data & Investment Strategy

Fund data I - Tranche

ISIN DE000A2PS2X2
WKN A2PS2X
Asset class Bonds
Region global
Fund currency EUR
Launch date 10.02.2020

Fund data R - Tranche

ISIN DE000A2PS2W4
WKN A2PS2W
Asset class Bonds
Region global
Fund currency EUR
Launch date 10.02.2020

The multi-stage investment process begins with a differentiated economic analysis based on models that have been tested over many years. After a fundamental analysis of the government finances and current account balances of the respective countries, various valuation criteria are used to select bonds. Economic growth and inflation rate, creditworthiness, vulnerability as well as valuation of the bond and currency play an important role. In the bond market, strong market movements often lead to the formation of risk premiums that overstate the actual risk. Various analytical tools are used to analyse the extent of possible risk premiums and a possible excess return. These include real interest rates, currency valuation, credit margin distortions and implied forward rates. Ongoing monitoring of currency valuation, currency risk and structure as well as creditor structure and debt dynamics complete the process.

 

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