Nomura Funds Ireland –
US High Yield Bond Fund
Attractive yields and strong risk adjusted returns
Nomura Funds Ireland – US High Yield Bond Fund
US High Yield Bond Strategy
We launched our Ireland domiciled Nomura Funds Ireland – US High Yield Bond Fund in March 2009 in response to demand from our institutional investors and on the back of our stellar long-term performance results that we had delivered for over 20 years.
NCRAM: Our Specialist Credit Research Investment Boutique
The Nomura US High Yield Bond strategy is managed by Nomura Corporate Research and Asset Management Inc. (“NCRAM”), a Nomura Asset Management affiliate. NCRAM was established in 1991 and is an analyst-driven investment boutique that specialises in below investment-grade credit.
The “Strong Horse” Philosophy
We believe a total return approach driven by credit research is the best way to generate alpha in high yield. We describe our investment philosophy as the “Strong Horse” philosophy. Strong Horse companies can carry their debt load through good times and bad. 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.
Our Investment Approach
Our process differentiates us through the following points:
- Creative idea generation in an open environment.
- Thorough research conducted by experienced credit analysts.
- Disciplined portfolio construction based on the best risk and reward opportunities.
Our approach is primarily bottom-up, though top-down perspectives are incorporated. We also characterise our process as a fundamental, as opposed to quantitative, approach.
Awards and Ratings
Potential Significant Risks
Bonds that produce a higher level of income usually also carry greater risk as such bond issuers may have difficulty in paying their debts.
| Investment Objective | To achieve current yield and capital gains through investment in a diversified portfolio of primarily high yielding US Dollar denominated Debt and Debt-Related Securities. A combination of top down and bottom up analysis is used to identify high yield credits with strong and improving credit fundamentals. |
| Fund Size | USD 2.92 billion (as at 31.03.2024) |
| Investment Company | Nomura Asset Management U.K. Ltd. |
| Lead Portfolio Manager |
Steve Kotsen, CFA, Managing Director and Portfolio Manager, |
| Launch Date | 31.03.2009 |
| Base Currency | USD |
| Universe Sector | Morningstar Universe: USD High Yield Bond IA Sector: Global Bonds |
| Benchmark | ICE BofA US High Yield Constrained Index |
| Domicile | Ireland (Nomura Funds Ireland plc) |
| Lead ISINs | I USD: IE00B3RW8498 I GBP: IE00B3RW8274 I GBP Hedged: IE00B8H9H370 I EUR: IE00B3RW8050 I EUR Hedged: IE00B78FDY06 A USD: IE00B3RW7J78 A EUR: IE00B3RW6Z61 For additional share class information, please contact us. |
| 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]
Fund Snapshot: This document was prepared by Nomura Asset Management Europe KVG mbH, from sources it reasonably believes to be accurate.
Nomura Funds Ireland plc is an open-ended investment company with variable capital, incorporated in Ireland on 13th April, 2006 under the Act with registration number 418598. The Fund has been authorised by the Central Bank as an UCITS pursuant to the UCITS Regulations. The Fund is structured as an umbrella fund consisting of different Sub-Funds each comprising one or more Classes. The Fund has segregated liability between each of its Sub-Funds.
Full information on the presented funds, which is relevant for an investment decision, can be found in the fund´s most recent sales prospectus, key information document (PRIIPs KID), key investor information document (UCITS KIID) – as appropriate for your relevant jurisdiction – and annual and semi-annual reports. The UCITS KIIDs are available in English and, for the PRIIPs KIDs, in the official language of the countries in which the fund is registered for distribution. Performance in the past is no guarantee of future success. There can be no guarantee that the fund´s investment objective will actually be achieved.
A summary of investor rights in English and information on collective redress mechanisms are available at https://www.nomura-asset.co.uk/download/funds/how-to-invest/Summary_of_investor_rights.pdf . Nomura Asset Management U.K. Limited may at any time decide to terminate arrangements it may have made for the marketing of units of a fund in a member state other than its home member state.
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 m involve sudden and erratic price movements and volatility.
