Download Aberdeen Global – Select Euro High Yield Bond Fund

For professional investors and financial advisers only – not for use by retail investors
Aberdeen Global – Select Euro High
Yield Bond Fund
The Fund’s investment objective is long-term total return to be achieved by investing at least
two-thirds of the Fund’s assets in fixed interest securities which are Sub-Investment Grade
and denominated in Euro and issued by corporations or government related bodies.
Fund Size: €1.1bnA
Reasons to invest
What we do
• Significant yield pick up over investment grade
• Carry out our own first-hand quantitative and
qualitative research
• Strong long term risk adjusted returns
• Attractive diversification benefits
• Low sensitivity to interest rates
• Seeking investment opportunities in companies that can
perform through a full investment cycle
• Supportive market backdrop
• Established process based on bottom-up, relative value
security selection
• Higher credit quality and lower volatility compared
with US high yield
• High conviction strategy with low turnover
• Seeking to deliver performance and liquidity in tandem
• Large and growing market
Why Aberdeen
Investment ParametersB
• Experienced and well resourced team with a long history
in the asset class
• Minimum two thirds in euro denominated
sub-investment grade debt
• Leveraging Aberdeen’s extensive global credit platform
• Maximum 5% of total issue size
• Legal resource embedded within the investment team
• Minimum 40 issuers
• No derivatives (except currency forwards)
• Fully currency hedged to euros (USD and GBP share
classes available)
A
B
28 February 2017.
Note that these are internal limits and may be subject to change.
Country breakdown
United Kingdom
Luxembourg
France
United States
Germany
Netherlands
Spain
Italy
Canada
Croatia
Greece
Other
30.9%
11.8%
10.7%
8.5%
7.9%
7.5%
5.6%
3.5%
1.1%
1.1%
0.9%
4.9%
Source: Aberdeen Asset Management, 28 February 2017.
Annual returns (%) - year ended 28/02
Fund
2017
11.54
2016
1.52
2015
3.91
2014
10.03
2013
14.70
Calendar year performance (%)
Fund
Reference index
Difference
Year to date
1.76
1.71
0.05
2016
2015
2014
2013
7.82
9.10
(1.28)
5.77
0.73
5.04
3.21
5.74
(2.53)
9.40
11.80
(2.40)
Performance Data: Share Class I2 Acc. Source: Lipper. Basis: Total return, NAV to NAV, net of annual charges, gross income reinvested. Reference index is for comparison purpose only. This fund is not managed against a specific
reference index.
Past performance is not a guide to future results.
Fund facts
Launched: 31 October 2000
Reference index: BofA Merrill Lynch Euro High Yield Constrained
Sector: Lipper Global Bond EUR High Yield
I-2 ClassC: 0.85%
Income payable: Monthly
ISIN: LU0231473439
Modified duration (yrs)
Yield to maturity (%)
Average rating (S&P)
3.48
4.33
B+
Performance is shown gross of fees and does not reflect investment management fees. Had such fees been
deducted, returns would have been lower. Source: Aberdeen Asset Management, BPSS, Thomson Reuters
Datastream. Past performance is not a guide to future results.
The Ongoing Charge Figure (OCF), as at 31 December 2016, is the overall cost shown as a percentage of the value of the assets of the Funds. It is made up of the Annual Management Charge (AMC) of 1.00% and other charges.
It does not include any initial charges or the cost of buying and selling stocks for the Funds. The Ongoing Charges figure can help you compare the annual operating expenses of different Funds.
C
Important information
For professional investors and financial advisers only – not for use by retail investors
Risk factors you should consider before investing:
The following risk factors should be carefully considered before making an investment decision:
• The value of shares and the income from them can go down as well as up and you may get back less than the amount invested.
• Investing globally can bring additional returns and diversify risk. However, currency exchange rate fluctuations may have a positive or negative impact on the value of
your investment.
• Bonds are affected by changes in interest rates, inflation and any decline in creditworthiness of the bond issuer. Bonds that produce a higher level of income usually also
carry greater risk as such bond issuers may not be able to pay the bond income as promised or could fail to repay the capital amount used to purchase the bond. Where a
bond market has a low number of buyers and/or a high number of sellers, it may be harder to sell particular bonds at an anticipated price and/or in a timely manner.
• Contingent convertible bonds can automatically convert into shares or be written down if the financial strength of the issuer falls in a certain way. This may result in
substantial or total losses of the bond value.
• The Fund has a significant exposure to one currency, increasing its potential price volatility.
• A full list of risks applicable to this Fund can be found in the Prospectus, which is available on request or at our website aberdeen-asset.com
Other Important information
Aberdeen Global is a Luxembourg-domiciled UCITS fund, incorporated as a Société Anonyme and organized as a Société d’Invetissement á Capital Variable (a “SICAV”).
The information contained in this marketing document is intended to be of general interest only and should not be considered as an offer, or solicitation, to deal in the shares
of any securities or financial instruments. Aberdeen Global has been authorized for public sale in certain jurisdictions and private placement exemptions may be available in
others. It is not intended for distribution or use by any person or entity that is a citizen or resident of or located in any jurisdiction where such distribution, publication or use
would be prohibited. Aberdeen Global is not registered under the United States Securities Act of 1933, nor the United States Investment Company Act of 1940 and therefore
may not directly or indirectly be offered or sold in the United States of America or any of its states, territories, possessions, or other areas subject to its jurisdiction or to or for
the benefit of a United States Person. For the definition of United States Person, see the current Aberdeen Global prospectus.
No information, opinions or data in this document constitute investment, legal, tax or other advice and are not to be relied upon in making an investment or other decision.
Subscriptions for shares in the Fund may only be made on the basis of the latest prospectus, relevant Key Investor Information Document (KIID) and Supplementary
Information Document (SID). These can be obtained free of charge from Aberdeen Asset Managers Limited, 10 Queens Terrace, Aberdeen, AB10 1YG, Scotland and are also
available on aberdeen-asset.com.
Tax treatment depends on the individual circumstances of each investor and may be subject to change in the future. You should obtain specific professional advice before
making any investment decision.
Issued by Aberdeen Asset Managers Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom.
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