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AB FCP I - Global High Yield Portfolio

Global USD high yield diversified bonds. Active strategy with flexibility to allocate max 33% investment grade. Highly diversified portfolio.

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About the Fund

Data as of

AllianceBernstein (AB) is a US-based global asset management firm created from the merger of Alliance Capital and Sanford C. Bernstein in the year 2000. AB manages over US$820bn worth of assets across long-only funds and private asset solutions.

The AB FCP I - Global High Yield Portfolio is an actively managed bond fund seeking to produce high current income as well as overall total return, by investing at least 67% in non-investment grade bonds from global developed and emerging countries of both sovereigns and corporates issues with no credit rating constraints. While the fund has no currency constraints, the portfolio is typically fully hedged to USD. The fund typically has about 60% US exposure and about 20% investment grade exposure. The fund runs a highly diversified portfolio of >2000 holdings.

Performance

Price Performance – Maximum Period

The FairHorizon Context

Investment-Time-Horizon in years

0 - 22 - 44 - 7 7 - 1010 - 1515+
Expected long-term return
2 - 4% p.a.
Expected volatility
3 - 5% p.a.

Building Block Returns

AB FCP I - Global High Yield Portfolio

Ann. return (3-year):
8.91%
Ann. return (5-year):
3.72%
Ann. return (10-year):
4.60%
Ann. Standard Deviation (5-year):
7.04%

This fund represents an active approach for exposure to global high yield bond market segment with USD and US-bias. Additionally, the fund can invest up to 33% in investment grade bonds.

Benchmark Returns

iShares Global High Yield Corp Bond UCITS ETF

Ann. return (3-year):
8.47%
Ann. return (5-year):
3.18%
Ann. return (10-year):
4.57%
Ann. Standard Deviation (5-year):
8.74%

FairHorizon Benchmark Returns

Dimensional Funds PLC - World Allocation 60/40 Fund

Ann. return (3-year):
12.53%
Ann. return (5-year):
6.41%
Ann. return (10-year):
—
Ann. Standard Deviation (5-year):
9.71%
Link to the Funds FairSheet

The Dimensional World Allocation 60/40 Fund is our FAIRHORIZON Yellow reference benchmark solution that has 60% global developed equities and 40% global investment grade short-to-medium maturity bonds for global high risk bonds-like or multi-asset returns and volatility.

SHARING OUR PASSION FOR INVESTMENTS FAIRSHEET™  AB FCP I - Global High Yield Portfolio  Page 1/2

Why we prefer this fund

Relevance of strategy

This fund represents an active approach for exposure to global high yield bond market segment with USD and US-bias. Additionally, the fund can invest up to 33% in investment grade bonds.

Historical maximum drawdown & recovery time

Max drawdown (since inception)
-26.90%
Recovery Period
267 Days

Diversification

Credit Rating

  • Aaa0.03%
  • Aa3.19%
  • A0.39%
  • Baa6.70%
  • Ba29.35%
  • B27.67%
  • Caa7.94%
  • Ca0.69%
  • C0.00%
  • Others24.03%

Sectors

  • Corporate78.40%
  • Government-Related6.96%
  • Treasury3.52%
  • Securitized2.01%
  • Cash1.21%
  • Others7.90%

Geography

  • U.S.A.51.26%
  • United Kingdom4.44%
  • Canada3.35%
  • Germany3.29%
  • Luxembourg2.55%
  • France2.37%
  • Netherlands2.23%
  • Cayman Islands2.22%
  • Italy1.66%
  • Cash1.21%
  • Colombia1.17%
  • Others24.25%