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FairHorizon Blue
B18-A

iMGP US Core Plus Fund

US corporate bonds. Active strategy with concentrated portfolio of average investment grade rating.

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About the Fund

Data as of

iM Global Partner (iMGP) is a global asset management platform created in 2015 and managing over US$40bn of assets, partnering with a small group (10 currently) of independently owned boutique asset managers to offer high conviction active investment funds globally.

The iMGP US Core Plus Fund is an actively managed fund seeking long term investment appreciation by investing in US-issued USD corporate bonds, with around 70% investment grade rated and 30% high yield rated. The fund uses credit spreads to evaluate the cheapness of the market and make exposure adjustments. The fund deliberately maintains portfolio effective duration close to the Bloomberg US Intermediate Credit Index. The fund runs a highly concentrated portfolio of >70 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

iMGP US Core Plus Fund

Ann. return (3-year):
5.34%
Ann. return (5-year):
2.02%
Ann. return (10-year):
2.67%
Ann. Standard Deviation (5-year):
4.61%

This is a high conviction US corporate bond fund with average investment grade rated portfolio.

Benchmark Returns

iShares Global Corp Bond UCITS ETF

Ann. return (3-year):
5.18%
Ann. return (5-year):
0.22%
Ann. return (10-year):
—
Ann. Standard Deviation (5-year):
7.97%
Link to the Funds FairSheet

FairHorizon Benchmark Returns

Dimensional Funds PLC - World Allocation 20/80 Fund

Ann. return (3-year):
7.18%
Ann. return (5-year):
3.55%
Ann. return (10-year):
—
Ann. Standard Deviation (5-year):
4.10%
Link to the Funds FairSheet

The Dimensional World Allocation 20/80 Fund is our FAIRHORIZON Blue reference benchmark solution that has 20% global developed equities and 80% global investment grade short-to-medium maturity bonds for global high quality bonds-like returns and volatility.

SHARING OUR PASSION FOR INVESTMENTS FAIRSHEET™  iMGP US Core Plus Fund  Page 1/2

Why we prefer this fund

Relevance of strategy

This is a high conviction US corporate bond fund with average investment grade rated portfolio.

Manager expertise

This is a partner fund managed by Dolan McEniry Capital Management. Dolan McEniry is an intermediate duration fixed income value investor with a specialty in US corporate bonds.

Differentiated portfolio

The fund reflects Dolan McEniry’s core competence that is credit analysis with a focus on free cash flow, and to identify quality credit at attractive prices and with a low default risk.

Historical maximum drawdown & recovery time

Max drawdown (since inception)
-12.14%
Recovery Period
630 Days

Diversification

Credit Rating

  • Aa5.42%
  • A0.24%
  • Baa65.32%
  • Ba21.68%
  • B4.23%
  • Others3.10%

Sectors

  • Corporate94.58%
  • Treasury5.42%

Geography

  • U.S.A.97.85%
  • Singapore2.15%