Overview

The Nomura US High Yield Bond Strategy is managed by Nomura Corporate Research and Asset Management Inc. (“NCRAM”), a Nomura Asset Management affiliate. The strategy represents the length and depth of NCRAM’s experience managing high yield assets. NCRAM portfolio managers have utilized the investment philosophy to identify “Strong Horse” companies since 1991, and we believe this level of continuity will continue to drive success through various market conditions. The US High Yield Total Return universe consists primarily of USD-denominated, cash pay corporate bonds predominantly issued by US companies. This strategy has the flexibility to invest across the full credit quality spectrum. NCRAM is our analyst-driven investment boutique that specialises in below investment-grade credit.

Our approach 

• Total return approach driven by credit research to generate alpha in high yield.
• NCRAM believes in a “Strong Horse” philosophy where companies can carry their debt load through good and bad times. These companies generally have a positive ability to de-lever their balance sheet by generating strong, positive cash flows that are sustainable.
• The creditworthiness of these companies tends to increase over time, as will their credit ratings.
• Bottom-up, fundamental research driven process which includes sustainability factors.
• Top-down perspectives are additionally incorporated.

Reasons to invest

• “Strong Horse” approach to credit research.
• Disciplined Investment Process – seeking to capture credit market returns while minimizing losses.
• Dedicated Research – evaluating issuers on financial and sustainability factors and participating directly in investment decisions.
• Stability – our four most senior high yield investment professionals have worked together for over 20 years.
• Performance – competitive performance on an absolute and risk-adjusted basis.

For further information please visit NCRAM’s website at http://www.nomura.com/ncram/. (Please note that this external link leads to a website where our data protection rules do not apply and for whose content we assume no responsibility.)

Awards and ratings 

Morningstar Overall Ratings as at 31-10-2025. Copyright © Morningstar 2025. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied, adapted or distributed; (3) is not warranted to be accurate, complete or timely; and (4) do not constitute advice of any kind, whether investment, tax, legal or otherwise. User is solely responsible for ensuring that it complies with all laws, regulations and restrictions applicable to it. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information, except where such damages or losses cannot be limited or excluded by law in your jurisdiction. Past performance is no guarantee of future results. Morningstar rating based on Nomura Funds Ireland – US High Yield Bond Fund I USD.

SFDR* Classification: Article 6.

*EU Sustainable Finance Disclosure Regulation.

Potential significant risks

Investment in high yield securities generally entails increased interest rate, credit, liquidity and market risk. Investment in non-investment grade securities may subject the fund to heightened litigation risks and / or prevent their disposal. Investment in securities of distressed entities may involve sudden and erratic price movements and volatility.

Back To Fund Range

Back To Fund Range

Fund		Monthly Factsheet
Class I USD
Class A USD
Class I CHF Hedged

For a full list of available share class documents including PRIIPs KIDs, please visit our fund documents page.

The lead share class fund literature is shown first in the above list. If any literature is not available in the above list for the share class you are invested in/interested in, please contact [email protected]

Back To Fund Range