EN DE
Contact Us
FairHorizon Yellow
Y10-A

Cohen & Steers SICAV - Preferred Income Fund

Global hybrid bonds. Active strategy with concentrated portfolio.

Das Family Office logo Download PDF

About the Fund

Data as of

Cohen & Steers is a US boutique investment manager founded in 1986 by Martin Cohen and Robert Steers, now listed on the NYSE. The firm is known as a pioneer in developing the securitised real estate sector and remains a leader in it, with listed real asset solutions (including real estate, infrastructure and resources) the majority of its US$90bn AUM. The firm has expanded since 2003 into alternative income via preferred securities and hybrid bonds as another specialty solution offering.

The Cohen & Steers SICAV - Preferred Income Fund is an actively managed bond strategy that seeks to achieve total return through investing in global hybrid bonds. The fund’s investment process focuses on conducting rigorous fundamental research by analysing traditional credit metrics, valuing the structural features of individual securities and assessing external market factors. Proprietary pricing models are used to identify securities that are believe to be undervalued related to their modified option-adjusted credit risk spread. The fund typically has a balanced allocation between US and Europe, and invests <50% in CoCo bonds. The fund has a concentrated portfolio of >250 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

Cohen & Steers SICAV - Preferred Income Fund

Ann. return (3-year):
9.65%
Ann. return (5-year):
3.78%
Ann. return (10-year):
—
Ann. Standard Deviation (5-year):
6.93%

This fund provides an active approach to invest in the preferred and capital securities market.

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™  Cohen & Steers SICAV - Preferred Income Fund  Page 1/2

Why we prefer this fund

Relevance of strategy

This fund provides an active approach to invest in the preferred and capital securities market.

Historical maximum drawdown & recovery time

Max drawdown (since inception)
-23.67%
Recovery Period
140 Days

Diversification

Credit Rating

  • Aa0.58%
  • A5.88%
  • Baa54.33%
  • Ba28.04%
  • B0.46%
  • Others10.70%

Sectors

  • Corporate97.94%
  • Treasury0.67%
  • Others1.40%

Geography

  • U.S.A.35.57%
  • Canada17.84%
  • United Kingdom10.58%
  • France10.55%
  • Switzerland4.29%
  • Netherlands3.77%
  • Japan3.25%
  • Spain2.98%
  • Germany2.80%
  • Bermuda2.65%
  • Italy1.48%
  • Others4.23%