Flossbach von Storch - Bond Opportunities - HT

Flossbach von Storch - Bond Opportunities is a globally diversified bond fund with an active investment approach that focuses on corporate bonds, government bonds and covered bonds. The Fund flexibly exploits the opportunities of the entire bond market. In addition to bonds with an investment-grade quality, the fund management can also invest in bonds without a rating or in those that do not have investment-grade quality. Foreign currency risks are currently only entered into to a manageable extent. Securities selection is based on a fundamental research and analysis process. The fund manager relies on research tools developed in-house. The investment strategy includes in-house valuation models, ESG integration, engagement and voting. In addition, exclusion criteria defined as part of the Sub-Fund's investment policy are taken into account. The Sub-Fund is actively managed and not benchmarked against an index. The portfolio is composed by the fund manager exclusively in accordance with the criteria defined in the investment policy, reviewed regularly and adjusted if necessary. The Sub-Fund is classified as an Article 8 product within the meaning of the Disclosure Regulation (EU) 2019/2088 (SFDR). For detailed information on the objectives and investment policy, please refer to the most recent sales prospectus and the Key Information Document (PRIIP-KID).


Valor number:40149586
ISIN:LU1748855837
Authorised for distribution:AT, BE, CH, DE, ES, FR, LI, LU, PT
Fund type / legal structure:UCITS / FCP
Domicile:Luxemburg
SFDR Classification:Article 8
Fund currency:EUR
Launch date:5 February 2018
Financial year end:30 September
Income utilisation:Accumulating
Management company:Flossbach von Storch Invest S.A.
Custodian bank / Paying agent:DZ PRIVATBANK S.A.
Manager:Flossbach von Storch AG
Data from:4 October 2023
Fund assets:5.592.241.198,11 EUR
NAV:105.60 EUR
Redemption price:105.60 EUR
Issue price*:105.60 EUR
TID: (as at )
Performance fee:
Issue surcharge:0.00%
Exchange commission:0.00% (based on the unit value of the units to be purchased for the benefit of the relevant distributor)

* incl. max. issue surcharge 0.00%

Source: Custodian bank / Paying agent

Annual performance (EUR, in %, As at: 04.10.2023)

Past performance is no indication of current or future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units. Where performance is compared to a benchmark, such a comparison is provided for informational purposes only and does not imply any obligation on the part of the fund manager to achieve the level of the benchmark or replicate its performance.

Until 31.12.2015, the Rex Performance Index served as a reference value.

Source: Custodian bank and SIX Financial Information

Performance (EUR, in %, As at: 04.10.2023)

Past performance is no indication of current or future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units. Where performance is compared to a benchmark, such a comparison is provided for informational purposes only and does not imply any obligation on the part of the fund manager to achieve the level of the benchmark or replicate its performance.

Until 31.12.2015, the Rex Performance Index served as a reference value.

Source: Custodian bank and SIX Financial Information

Accumulated Performance (EUR, in %, As at: 04.10.2023)

 04.10.202329.09.2023
YTD-0.93%-0.27%
1 year1.09%2.33%
3 years-9.84%-9.04%
5 years5.53%6.35%
10 years34.06%34.94%
1 year p.a.1.09%2.34%
3 years p.a.-3.39%-3.11%
5 years p.a.1.08%1.24%
10 years p.a.2.97%3.04%
since 04.06.200970.02%71.14%

Past performance is no indication of current or future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units. Where performance is compared to a benchmark, such a comparison is provided for informational purposes only and does not imply any obligation on the part of the fund manager to achieve the level of the benchmark or replicate its performance.

Until 31.12.2015, the Rex Performance Index served as a reference value.

Source: Custodian bank and SIX Financial Information

Monthly performance (EUR, in %, As at: 04.10.2023)

 20232022202120202019201820172016201520142013
Jan2.34%-1.52%-0.56%0.65%1.85%-0.28%0.48%-1.32%2.53%1.07%-0.53%
Feb-1.34%-2.57%-2.25%0.38%1.47%-0.60%1.67%1.93%1.34%1.47%0.81%
Mar1.54%-1.31%0.05%-6.04%1.60%-0.59%-0.17%3.12%0.58%0.42%0.79%
Apr0.45%-1.58%0.12%6.62%1.16%0.44%0.77%1.78%0.42%0.72%0.63%
May-0.19%0.12%-0.21%1.65%0.00%0.06%0.59%0.00%-0.79%1.69%0.02%
Jun-0.98%-3.76%1.30%1.42%2.63%-0.52%-0.11%1.34%-2.54%0.61%-1.60%
Jul0.47%3.69%1.58%2.66%1.59%0.98%0.39%2.83%1.01%0.11%1.21%
Aug-0.56%-1.46%-0.19%-0.44%1.45%0.05%0.29%1.15%-1.06%0.68%-0.05%
Sep-1.93%-3.50%-1.13%-0.11%-0.36%-0.18%-0.03%-0.10%-1.60%-1.02%1.19%
Oct-0.66%0.08%-0.98%0.69%-0.10%-0.88%0.86%-0.16%3.41%0.73%1.04%
Nov3.36%-0.12%1.90%-0.14%-0.98%-0.10%-1.32%0.05%0.56%0.35%
Dec-0.80%0.28%-0.03%0.38%-0.23%-0.12%0.87%-1.19%-0.10%-0.25%
Current year to 29.09.2023-0.27%-9.15%-2.13%9.27%12.10%-2.72%4.60%10.47%2.01%7.12%3.63%
Current year to 04.10.2023-0.93%-9.15%-2.13%9.27%12.10%-2.72%4.60%10.47%2.01%7.12%3.63%

Past performance is no indication of current or future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units. Where performance is compared to a benchmark, such a comparison is provided for informational purposes only and does not imply any obligation on the part of the fund manager to achieve the level of the benchmark or replicate its performance.

Until 31.12.2015, the Rex Performance Index served as a reference value.

Source: Custodian bank and SIX Financial Information

Strategy breakdown (As at: 31.08.2023)

Government bonds43.43 %
Corporate bonds34.59 %
Covered Bonds15.33 %
Cash4.67 %
Convertible bonds1.52 %
Other (incl. derivatives)0.46 %

Source: Depositary and Flossbach von Storch

Top 10 guarantors (As at: 31.08.2023)

United States of America18.06 %
Kreditanstalt für Wiederaufbau5.62 %
European Union3.45 %
Porsche Automobil Holding SE3.18 %
Commerzbank AG3.08 %
BNG Bank N.V.2.99 %
Canada2.71 %
ING Groep N.V.2.59 %
Coöperatieve Rabobank U.A.2.27 %
Belgium, Kingdom2.13 %

 Source: Depositary and Flossbach von Storch

Top 10 sectors (As at: 31.08.2023)

Financials20.27 %
Real Estate19.01 %
Consumer Discretionary16.84 %
Communication Services16.53 %
Health Care6.92 %
Industrials6.12 %
Consumer Staples4.68 %
Energy3.10 %
Materials3.05 %
Utilities2.91 %

 Source: Depositary and Flossbach von Storch

Breakdown of ratings for bonds (As at: 31.08.2023)

AAA33.95 %
AA29.13 %
A8.45 %
BBB20.87 %
BB6.71 %
NR0.89 %

Source: Depositary and Flossbach von Storch

Other key figures (As at: 31.08.2023)

Sharpe Ratio a0,40
Value at Risk (VaR) b-3,56%
Volatility c5,50%
Maximum drawdown d-6,27%

a The Sharpe ratio is a measurement for the risk/return profile of an investment. In terms of sub-funds, it determines how much outperformance (that is return on the fund’s assets minus the return of a risk-free asset) the sub-fund achieved per unit of risk.

b The value at risk (VaR) is a means to measure risk and describes the loss that, with a pre-defined probability (in this case 99 per cent) and in a predetermined holding period (in this case 20 days), will not be exceeded. Here we are dealing with an ex post VaR which has been calculated according to sub-fund prices for a given time series.

c Volatility is measured through standard deviation and is used to determine the degree of fluctuation of sub-fund prices over a given time frame.

d The “maximum drawdown” shows the maximum loss an investor can suffer through an unfortunate choice of timing for buying or selling securities in a given time period (260 days).

Historic Prices

As atShare class currencyIssue priceRedemption priceNAV*
EUR100.00
EUR102.9999.9999.99
EUR102.8899.8899.88
EUR103.04100.04100.03
EUR102.8599.8599.85
EUR99.85
EUR99.85
EUR102.5399.5499.54
EUR102.5499.5599.54
EUR102.2699.2899.28
EUR102.1899.2099.19
EUR102.3299.3499.33
EUR99.33
EUR99.33
EUR102.6199.6299.62
EUR102.6099.6199.61
EUR102.6299.6399.62
EUR102.6399.6499.64
EUR102.5999.6099.60
EUR99.60
EUR99.60
EUR102.5799.5899.58
EUR102.6899.6999.69
EUR102.7199.7299.71
EUR102.7799.7899.78
EUR102.7399.7499.74
EUR99.74
EUR99.73
EUR102.5799.5899.58
EUR102.4799.4999.49
EUR102.5499.5599.54
EUR102.5499.5599.55
EUR102.6199.6299.62
EUR99.62
EUR99.62
EUR102.6599.6699.66
EUR102.6899.6999.68
EUR102.6599.6699.66
EUR102.5899.5999.59
EUR102.5799.5899.59
EUR99.59
EUR99.59
EUR102.6099.6199.60
EUR102.4399.4599.45
EUR102.3799.3999.39
EUR102.3499.3699.36
EUR102.3199.3399.33
EUR99.33
EUR99.33
EUR102.1299.1599.15
EUR102.0399.0699.06
EUR99.2099.2099.20
EUR99.1299.1299.12
EUR99.12
EUR99.12
EUR99.12
EUR99.12
EUR99.2699.2699.26
EUR99.2299.2299.21
EUR99.1999.1999.19
EUR99.3599.3599.35
EUR99.35
EUR99.35
EUR99.4799.4799.47
EUR99.4599.4599.45
EUR99.5099.5099.50
EUR99.5699.5699.56
EUR99.6699.6699.66
EUR99.66
EUR99.66
EUR99.7499.7499.74
EUR99.7199.7199.71
EUR99.8299.8299.82
EUR99.7199.7199.71
EUR99.4899.4899.48
EUR99.48
EUR99.48
EUR99.4999.4999.49
EUR99.4399.4399.43
EUR99.4399.4399.43
EUR99.2899.2899.28
EUR99.4799.4799.46
EUR99.46
EUR99.46
EUR99.5699.5699.56
EUR99.56
EUR99.6199.6199.61
EUR99.6099.6099.60
EUR99.5899.5899.58
EUR99.58
EUR99.58
EUR99.5699.5699.56
EUR99.5599.5599.55
EUR99.5499.5499.54
EUR99.54
EUR99.5699.5699.56
EUR99.55
EUR99.55
EUR99.5499.5499.54
EUR99.4699.4699.46
EUR99.3599.3599.35
EUR99.3299.3299.32
EUR99.2599.2599.24
EUR99.24
EUR99.24
EUR99.24
EUR99.3399.3399.33
EUR99.2599.2599.25
EUR99.2499.2499.24
EUR99.2899.2899.27
EUR99.27
EUR99.27
EUR99.3999.3999.38
EUR99.5099.5099.49
EUR99.8199.8199.81
EUR99.6399.6399.62
EUR99.7699.7699.76
EUR99.76
EUR99.76
EUR99.8099.8099.79
EUR99.8299.8299.82
EUR99.9699.9699.95
EUR99.6199.6199.61
EUR99.6099.6099.59
EUR99.59
EUR99.59
EUR99.5399.5399.52
EUR99.4799.4799.47
EUR99.4899.4899.47
EUR99.5099.5099.50
EUR99.8399.8399.83
EUR99.83
EUR99.83
EUR99.9399.9399.93
EUR99.9399.9399.93
EUR99.9599.9599.95
EUR99.8999.8999.89
EUR99.8399.8399.83
EUR99.83
EUR99.83
EUR99.7499.7499.74
EUR99.5499.5499.54
EUR99.4099.4099.40
EUR99.3199.3199.32
EUR99.1199.1199.10
EUR99.10
EUR99.10
EUR99.1099.1099.09
EUR98.9998.9998.99
EUR99.0299.0299.02
EUR99.0599.0599.04
EUR99.2199.2199.20
EUR99.20
EUR99.20
EUR99.3699.3699.36
EUR99.5599.5599.55
EUR99.6899.6899.67
EUR99.6199.6199.61
EUR99.7099.7099.69
EUR99.69
EUR99.69
EUR99.8399.8399.83
EUR99.8399.8399.83
EUR99.8199.8199.81
EUR99.8499.8499.84
EUR99.8399.8399.83
EUR99.83
EUR99.83
EUR99.7499.7499.74
EUR99.6399.6399.63
EUR99.8099.8099.80
EUR99.8599.8599.84
EUR100.02100.02100.02
EUR100.02
EUR100.02
EUR100.10100.10100.09
EUR100.08100.08100.08
EUR100.15100.15100.14
EUR100.17100.17100.16
EUR100.17100.17100.16
EUR100.16
EUR100.16
EUR100.18100.18100.18
EUR100.25100.25100.25
EUR100.29100.29100.29
EUR100.32100.32100.32
EUR100.34100.34100.34
EUR100.34
EUR100.34
EUR100.38100.38100.38
EUR100.25100.25100.25
EUR100.25
EUR100.20100.20100.19
EUR100.15100.15100.15
EUR100.15
EUR100.15
EUR100.23100.23100.22
EUR100.26100.26100.25
EUR100.30100.30100.30
EUR100.31100.31100.31
EUR100.28100.28100.27
EUR100.27
EUR100.27
EUR100.24100.24100.24
EUR100.24100.24100.24
EUR100.15100.15100.14
EUR100.12100.12100.12
EUR100.14100.14100.13
EUR100.13
EUR100.13
EUR100.06100.06100.06
EUR99.9899.9899.98
EUR99.9299.9299.92
EUR99.8099.8099.80
EUR99.8099.8099.79
EUR99.79
EUR99.79
EUR99.7799.7799.76
EUR99.8399.8399.82
EUR99.8599.8599.84
EUR99.8799.8799.86
EUR99.8999.8999.89
EUR99.89
EUR99.89
EUR99.9399.9399.92
EUR99.9499.9499.93
EUR99.9799.9799.96
EUR100.02100.02100.01
EUR100.08100.08100.07
EUR100.07
EUR100.07
EUR100.10100.10100.10
EUR99.9599.9599.94
EUR99.8699.8699.86
EUR99.9499.9499.93
EUR99.9699.9699.95
EUR99.95
EUR99.95
EUR99.9499.9499.94
EUR100.07100.07100.07
EUR100.13100.13100.12
EUR100.07100.07100.06
EUR99.9099.9099.90
EUR99.90
EUR99.90
EUR99.7799.7799.76
EUR99.7599.7599.75
EUR99.6699.6699.65
EUR99.5799.5799.57
EUR99.4899.4899.48
EUR99.48
EUR99.48
EUR99.6099.6099.59
EUR99.4999.4999.48
EUR99.5499.5499.54
EUR99.5499.5499.54
EUR99.4999.4999.49
EUR99.49
EUR99.49
EUR99.2999.2999.29
EUR99.3199.3199.31
EUR99.1799.1799.16
EUR99.1899.1899.17
EUR99.0899.0899.08
EUR99.08
EUR99.08
EUR99.1399.1399.13
EUR99.0899.0899.07
EUR99.0899.0899.07
EUR99.07
EUR99.3399.3399.32
EUR99.32
EUR99.32
EUR99.3499.3499.34
EUR99.3799.3799.37
EUR99.3799.3799.36
EUR99.4799.4799.47
EUR99.5099.5099.49
EUR99.49
EUR99.49
EUR99.4699.4699.45
EUR99.3799.3799.36
EUR99.2499.2499.24
EUR99.1599.1599.14
EUR98.8598.8598.84
EUR98.84
EUR98.84
EUR98.6498.6498.63
EUR98.3998.3998.39
EUR97.9897.9897.97
EUR98.2398.2398.23
EUR98.3298.3298.31
EUR98.31
EUR98.31
EUR98.3698.3698.35
EUR98.3698.3698.36
EUR98.2598.2598.25
EUR98.2598.2598.25
EUR98.1098.1098.10
EUR98.10
EUR98.10
EUR98.0198.0198.00
EUR98.2298.2298.22
EUR98.0698.0698.05
EUR97.7697.7697.76
EUR97.4897.4897.47
EUR97.47
EUR97.47
EUR97.6297.6297.61
EUR97.3597.3597.35
EUR97.4197.4197.40
EUR97.6697.6697.66
EUR98.1498.1498.13
EUR98.13
EUR98.13
EUR98.2098.2098.20
EUR98.1998.1998.19
EUR98.1498.1498.14
EUR98.1798.1798.17
EUR97.9297.9297.92
EUR97.91
EUR97.91
EUR97.91
EUR97.91
EUR97.91
EUR97.8297.8297.82
EUR97.8797.8797.87
EUR97.87
EUR97.87
EUR97.87
EUR97.87
EUR97.9797.9797.97
EUR97.9097.9097.90
EUR97.7097.7097.70
EUR97.5797.5797.57
EUR97.6197.6197.61
EUR97.8597.8597.85
EUR98.2298.2298.22
EUR98.2198.2198.21
EUR98.4398.4398.43
EUR98.3098.3098.30
EUR98.4598.4598.45
EUR98.7898.7898.78
EUR98.7898.7898.78
EUR99.0599.0599.05
EUR99.1299.1299.12
EUR99.1099.1099.10
EUR99.1799.1799.17
EUR99.3199.3199.31
EUR99.3799.3799.37
EUR99.4599.4599.45
EUR99.4899.4899.48
EUR99.6899.6899.68
EUR100.19100.19100.19
EUR100.17100.17100.17
EUR100.28100.28100.28
EUR100.55100.55100.55
EUR100.86100.86100.86
EUR100.74100.74100.74
EUR100.64100.64100.64
EUR100.58100.58100.58
EUR100.70100.70100.70
EUR100.78100.78100.78
EUR100.78100.78100.78
EUR100.82100.82100.82
EUR100.90100.90100.90
EUR100.98100.98100.98
EUR100.92100.92100.92
EUR100.82100.82100.82
EUR100.88100.88100.88
EUR100.95100.95100.95
EUR101.07101.07101.07
EUR101.15101.15101.15
EUR101.10101.10101.10
EUR101.14101.14101.14
EUR101.28101.28101.28
EUR101.27101.27101.27
EUR101.21101.21101.21
EUR101.30101.30101.30
EUR101.17101.17101.17
EUR101.21101.21101.21
EUR101.51101.51101.51
EUR101.67101.67101.67
EUR101.79101.79101.79
EUR101.89101.89101.89
EUR102.11102.11102.11
EUR102.26102.26102.26
EUR102.17102.17102.17
EUR102.24102.24102.24
EUR102.49102.49102.49
EUR102.47102.47102.47
EUR102.49102.49102.49
EUR102.84102.84102.84
EUR102.77102.77102.77
EUR102.89102.89102.89
EUR102.93102.93102.93
EUR103.10103.10103.10
EUR102.97102.97102.97
EUR103.00103.00103.00
EUR103.00103.00103.00
EUR103.03103.03103.03
EUR103.16103.16103.16
EUR103.26103.26103.26
EUR103.26103.26103.26
EUR103.20103.20103.20
EUR103.31103.31103.31
EUR103.34103.34103.34
EUR103.38103.38103.38
EUR103.54103.54103.54
EUR103.60103.60103.60
EUR103.89103.89103.89
EUR103.82103.82103.82
EUR103.95103.95103.95
EUR103.96103.96103.96
EUR104.04104.04104.04
EUR104.06104.06104.06
EUR104.06104.06104.06
EUR104.12104.12104.12
EUR104.16104.16104.16
EUR103.72103.72103.72
EUR103.67103.67103.67
EUR103.69103.69103.69
EUR103.62103.62103.62
EUR103.76103.76103.76
EUR103.87103.87103.87
EUR103.93103.93103.93
EUR103.86103.86103.86
EUR103.76103.76103.76
EUR103.78103.78103.78
EUR103.75103.75103.75
EUR103.76103.76103.76
EUR103.79103.79103.79
EUR103.93103.93103.93
EUR103.96103.96103.96
EUR104.04104.04104.04
EUR104.07104.07104.07
EUR104.14104.14104.14
EUR104.37104.37104.37
EUR104.46104.46104.46
EUR104.76104.76104.76
EUR104.87104.87104.87
EUR104.87104.87104.87
EUR105.01105.01105.01
EUR105.10105.10105.10
EUR105.19105.19105.19
EUR105.91105.91105.91
EUR106.26106.26106.26
EUR106.76106.76106.76
EUR106.65106.65106.65
EUR106.71106.71106.71
EUR106.68106.68106.68
EUR106.47106.47106.47
EUR106.69106.69106.69
EUR106.79106.79106.79
EUR106.97106.97106.97
EUR107.16107.16107.16
EUR107.50107.50107.50
EUR107.69107.69107.69
EUR107.66107.66107.66
EUR107.60107.60107.60
EUR107.46107.46107.46
EUR107.37107.37107.37
EUR107.28107.28107.28
EUR107.34107.34107.34
EUR107.53107.53107.53
EUR107.64107.64107.64
EUR107.81107.81107.81
EUR107.79107.79107.79
EUR107.96107.96107.96
EUR107.99107.99107.99
EUR108.07108.07108.07
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EUR116.29116.29116.29
EUR116.15116.15116.15
EUR116.02116.02116.02
EUR116.00116.00116.00
EUR116.11116.11116.11
EUR116.09116.09116.09
EUR115.99115.99115.99
EUR115.92115.92115.92
EUR115.84115.84115.84
EUR115.71115.71115.71
EUR115.55115.55115.55
EUR115.39115.39115.39
EUR115.41115.41115.41
EUR115.40115.40115.40
EUR114.95114.95114.95
EUR114.19114.19114.19
EUR113.82113.82113.82
EUR113.75113.75113.75
EUR114.06114.06114.06
EUR113.60113.60113.60
EUR113.49113.49113.49
EUR113.22113.22113.22
EUR113.33113.33113.33
EUR113.43113.43113.43
EUR113.48113.48113.48
EUR113.53113.53113.53
EUR113.29113.29113.29
EUR112.86112.86112.86
EUR112.70112.70112.70
EUR112.47112.47112.47
EUR112.58112.58112.58
EUR112.93112.93112.93
EUR113.43113.43113.43
EUR113.00113.00113.00
EUR113.08113.08113.08
EUR112.87112.87112.87
EUR112.24112.24112.24
EUR111.97111.97111.97
EUR111.94111.94111.94
EUR111.76111.76111.76
EUR111.72111.72111.72
EUR111.32111.32111.32
EUR111.21111.21111.21
EUR111.38111.38111.38
EUR111.85111.85111.85
EUR111.91111.91111.91
EUR111.65111.65111.65
EUR111.42111.42111.42
EUR111.57111.57111.57
EUR111.23111.23111.23
EUR110.87110.87110.87
EUR110.81110.81110.81
EUR111.03111.03111.03
EUR111.10111.10111.10
EUR111.23111.23111.23
EUR111.11111.11111.11
EUR111.30111.30111.30
EUR110.97110.97110.97
EUR110.95110.95110.95
EUR110.86110.86110.86
EUR110.63110.63110.63
EUR110.46110.46110.46
EUR110.72110.72110.72
EUR110.68110.68110.68
EUR110.56110.56110.56
EUR110.35110.35110.35
EUR110.20110.20110.20
EUR109.75109.75109.75
EUR109.63109.63109.63
EUR109.74109.74109.74
EUR109.80109.80109.80
EUR109.57109.57109.57
EUR109.34109.34109.34
EUR109.09109.09109.09
EUR108.95108.95108.95
EUR108.61108.61108.61
EUR108.84108.84108.84
EUR108.71108.71108.71
EUR108.17108.17108.17
EUR108.27108.27108.27
EUR108.59108.59108.59
EUR108.87108.87108.87
EUR108.94108.94108.94
EUR109.04109.04109.04
EUR108.78108.78108.78
EUR108.70108.70108.70
EUR108.57108.57108.57
EUR108.85108.85108.85
EUR108.75108.75108.75
EUR108.91108.91108.91
EUR109.42109.42109.42
EUR109.52109.52109.52
EUR109.47109.47109.47
EUR109.37109.37109.37
EUR109.08109.08109.08
EUR109.02109.02109.02
EUR108.79108.79108.79
EUR108.68108.68108.68
EUR108.53108.53108.53
EUR108.13108.13108.13
EUR107.23107.23107.23
EUR105.93105.93105.93
EUR105.11105.11105.11
EUR105.75105.75105.75
EUR105.44105.44105.44
EUR105.55105.55105.55
EUR105.38105.38105.38
EUR105.53105.53105.53
EUR106.09106.09106.09
EUR106.14106.14106.14
EUR105.83105.83105.83
EUR105.61105.61105.61
EUR105.35105.35105.35
EUR105.53105.53105.53
EUR105.97105.97105.97
EUR105.91105.91105.91
EUR106.26106.26106.26
EUR106.22106.22106.22
EUR106.13106.13106.13
EUR106.45106.45106.45
EUR106.91106.91106.91
EUR107.07107.07107.07
EUR107.00107.00107.00
EUR106.79106.79106.79
EUR106.87106.87106.87
EUR106.92106.92106.92
EUR106.86106.86106.86
EUR107.32107.32107.32
EUR107.53107.53107.53
EUR108.44108.44108.44
EUR108.70108.70108.70
EUR108.64108.64108.64
EUR108.73108.73108.73
EUR109.24109.24109.24
EUR109.45109.45109.45
EUR109.56109.56109.56
EUR109.16109.16109.16
EUR109.27109.27109.27
EUR109.51109.51109.51
EUR109.16109.16109.16
EUR109.30109.30109.30
EUR109.23109.23109.23
EUR109.22109.22109.22
EUR109.33109.33109.33
EUR109.63109.63109.63
EUR109.68109.68109.68
EUR109.20109.20109.20
EUR109.03109.03109.03
EUR108.80108.80108.80
EUR108.28108.28108.28
EUR108.11108.11108.11
EUR108.02108.02108.02
EUR108.30108.30108.30
EUR108.13108.13108.13
EUR107.78107.78107.78
EUR107.65107.65107.65
EUR107.31107.31107.31
EUR107.14107.14107.14
EUR107.35107.35107.35
EUR107.10107.10107.10
EUR106.84106.84106.84
EUR107.17107.17107.17
EUR107.21107.21107.21
EUR107.43107.43107.43
EUR107.48107.48107.48
EUR107.17107.17107.17
EUR107.02107.02107.02
EUR106.81106.81106.81
EUR106.82106.82106.82
EUR106.60106.60106.60
EUR106.42106.42106.42
EUR106.36106.36106.36
EUR105.80105.80105.80
EUR105.29105.29105.29
EUR104.19104.19104.19
EUR103.87103.87103.87
EUR104.28104.28104.28
EUR103.88103.88103.88
EUR103.84103.84103.84
EUR104.46104.46104.46
EUR105.16105.16105.16
EUR104.59104.59104.59
EUR104.22104.22104.22
EUR103.78103.78103.78
EUR103.32103.32103.32
EUR103.19103.19103.19
EUR103.22103.22103.22
EUR102.99102.99102.99
EUR102.75102.75102.75
EUR103.01103.01103.01
EUR103.13103.13103.13
EUR102.64102.64102.64
EUR102.35102.35102.35
EUR102.47102.47102.47
EUR102.74102.74102.74
EUR103.36103.36103.36
EUR103.75103.75103.75
EUR104.50104.50104.50
EUR103.96103.96103.96
EUR104.18104.18104.18
EUR104.07104.07104.07
EUR103.53103.53103.53
EUR103.57103.57103.57
EUR103.50103.50103.50
EUR103.96103.96103.96
EUR104.30104.30104.30
EUR105.74105.74105.74
EUR105.97105.97105.97
EUR106.11106.11106.11
EUR106.45106.45106.45
EUR107.00107.00107.00
EUR106.66106.66106.66
EUR106.53106.53106.53
EUR106.72106.72106.72
EUR107.11107.11107.11
EUR107.49107.49107.49
EUR107.74107.74107.74
EUR107.66107.66107.66
EUR107.54107.54107.54
EUR107.45107.45107.45
EUR108.01108.01108.01
EUR108.84108.84108.84
EUR108.91108.91108.91
EUR108.60108.60108.60
EUR108.85108.85108.85
EUR109.21109.21109.21
EUR108.96108.96108.96
EUR108.46108.46108.46
EUR108.30108.30108.30
EUR108.75108.75108.75
EUR108.89108.89108.89
EUR108.59108.59108.59
EUR108.16108.16108.16
EUR107.79107.79107.79
EUR107.30107.30107.30
EUR107.31107.31107.31
EUR107.14107.14107.14
EUR106.80106.80106.80
EUR106.30106.30106.30
EUR106.26106.26106.26
EUR106.59106.59106.59
EUR106.19106.19106.19
EUR106.56106.56106.56
EUR107.02107.02107.02
EUR107.59107.59107.59
EUR107.45107.45107.45
EUR108.20108.20108.20
EUR108.39108.39108.39
EUR107.98107.98107.98
EUR108.61108.61108.61
EUR109.20109.20109.20
EUR109.11109.11109.11
EUR109.12109.12109.12
EUR109.31109.31109.31
EUR109.98109.98109.98
EUR109.86109.86109.86
EUR109.42109.42109.42
EUR109.22109.22109.22
EUR109.52109.52109.52
EUR109.61109.61109.61
EUR109.48109.48109.48
EUR109.43109.43109.43
EUR109.08109.08109.08
EUR109.18109.18109.18
EUR109.50109.50109.50
EUR110.41110.41110.41
EUR109.91109.91109.91
EUR109.39109.39109.39
EUR109.25109.25109.25
EUR109.41109.41109.41
EUR109.41109.41109.41
EUR109.08109.08109.08
EUR109.02109.02109.02
EUR108.59108.59108.59
EUR108.42108.42108.42
EUR108.39108.39108.39
EUR108.48108.48108.48
EUR108.41108.41108.41
EUR107.92107.92107.92
EUR107.92107.92107.92
EUR108.12108.12108.12
EUR107.71107.71107.71
EUR107.62107.62107.62
EUR107.42107.42107.42
EUR107.10107.10107.10
EUR106.85106.85106.85
EUR107.13107.13107.13
EUR106.93106.93106.93
EUR106.96106.96106.96
EUR106.87106.87106.87
EUR107.31107.31107.31
EUR108.14108.14108.14
EUR108.95108.95108.95
EUR108.45108.45108.45
EUR109.26109.26109.26
EUR108.72108.72108.72
EUR109.27109.27109.27
EUR109.08109.08109.08
EUR108.97108.97108.97
EUR109.38109.38109.38
EUR109.67109.67109.67
EUR109.73109.73109.73
EUR109.31109.31109.31
EUR109.25109.25109.25
EUR109.24109.24109.24
EUR109.28109.28109.28
EUR109.72109.72109.72
EUR109.94109.94109.94
EUR110.35110.35110.35
EUR110.54110.54110.54
EUR110.32110.32110.32
EUR110.06110.06110.06
EUR110.11110.11110.11
EUR110.12110.12110.12
EUR109.87109.87109.87
EUR109.71109.71109.71
EUR109.69109.69109.69
EUR109.54109.54109.54
EUR109.80109.80109.80
EUR109.71109.71109.71
EUR109.74109.74109.74
EUR110.27110.27110.27
EUR110.09110.09110.09
EUR109.77109.77109.77
EUR109.87109.87109.87
EUR110.45110.45110.45
EUR110.65110.65110.65
EUR111.15111.15111.15
EUR110.64110.64110.64
EUR110.27110.27110.27
EUR110.58110.58110.58
EUR110.82110.82110.82
EUR110.52110.52110.52
EUR110.38110.38110.38
EUR110.13110.13110.13
EUR109.56109.56109.56
EUR109.52109.52109.52
EUR109.37109.37109.37
EUR109.45109.45109.45
EUR109.23109.23109.23
EUR108.79108.79108.79
EUR108.90108.90108.90
EUR109.56109.56109.56
EUR109.79109.79109.79
EUR110.04110.04110.04
EUR109.47109.47109.47
EUR109.37109.37109.37
EUR109.48109.48109.48
EUR108.93108.93108.93
EUR109.28109.28109.28
EUR109.27109.27109.27
EUR109.30109.30109.30
EUR108.94108.94108.94
EUR108.93108.93108.93
EUR108.98108.98108.98
EUR108.89108.89108.89
EUR108.78108.78108.78
EUR109.23109.23109.23
EUR109.12109.12109.12
EUR109.18109.18109.18
EUR109.29109.29109.29
EUR108.91108.91108.91
EUR109.23109.23109.23
EUR108.49108.49108.49
EUR108.65108.65108.65
EUR108.45108.45108.45
EUR108.54108.54108.54
EUR108.28108.28108.28
EUR107.57107.57107.57
EUR107.58107.58107.58
EUR107.76107.76107.76
EUR107.80107.80107.80
EUR108.67108.67108.67
EUR109.34109.34109.34
EUR108.91108.91108.91
EUR109.10109.10109.10
EUR109.42109.42109.42
EUR109.48109.48109.48
EUR109.08109.08109.08
EUR109.18109.18109.18
EUR109.30109.30109.30
EUR109.20109.20109.20
EUR109.15109.15109.15
EUR108.84108.84108.84
EUR109.00109.00109.00
EUR109.10109.10109.10
EUR108.71108.71108.71
EUR108.72108.72108.72
EUR108.25108.25108.25
EUR108.77108.77108.77
EUR108.68108.68108.68
EUR109.14109.14109.14
EUR109.01109.01109.01
EUR108.63108.63108.63
EUR108.21108.21108.21
EUR107.73107.73107.73
EUR107.68107.68107.68
EUR107.43107.43107.43
EUR107.72107.72107.72
EUR107.28107.28107.28
EUR107.51107.51107.51
EUR108.42108.42108.42
EUR108.24108.24108.24
EUR108.09108.09108.09
EUR108.11108.11108.11
EUR108.56108.56108.56
EUR108.39108.39108.39
EUR108.81108.81108.81
EUR108.41108.41108.41
EUR108.32108.32108.32
EUR108.07108.07108.07
EUR107.84107.84107.84
EUR108.13108.13108.13
EUR108.16108.16108.16
EUR108.04108.04108.04
EUR108.04108.04108.04
EUR108.03108.03108.03
EUR108.21108.21108.21
EUR107.91107.91107.91
EUR107.85107.85107.85
EUR107.58107.58107.58
EUR107.62107.62107.62
EUR107.25107.25107.25
EUR107.44107.44107.44
EUR107.02107.02107.02
EUR106.84106.84106.84
EUR106.45106.45106.45
EUR106.30106.30106.30
EUR106.70106.70106.70
EUR106.12106.12106.12
EUR105.60105.60105.60

Opportunities

  • Participate in global bond market growth.
  • Income can be generated from regular interest payments.
  • Active interest rate, currency and risk management (e.g. from the use of derivatives).

Risks

  • Country, credit and issuer liquidity risk. Also potential exchange rate risks. If securities are illiquid (i.e. thinly traded), there is a risk that it may either not be possible to sell the assets at all or only by accepting a significant discount on the sale price. ESG criteria can restrict the selection of target investments in terms of category and number, sometimes considerably.
  • Investing in bonds may entail price risks, especially in case of rising interest rates on the capital markets.
  • Where used, derivatives can have a greater negative impact on the fund value than would be the case if the assets were acquired directly. This can affect the fund's risk profile and volatility (tendency for the price to fluctuate).

*Performance in the years 2009 to 2018 was simulated using the performance of share class I (LU0399027886) of sub-fund Flossbach von Storch - Bond Opportunities. The simulation took account of any differences in remuneration structure. Share class I and share class HT have the same investment policy. Thus, there may be deviations between the redemption price and the NAV up to and including the calendar year of the issue.

Morningstar Rating™ overall: © (2023) Morningstar Inc. All rights reserved. The information contained herein: (1) is protected by copyright for Morningstar and / or its content providers; (2) may not be copied or distributed, and (3) is not guaranteed with regard to its accuracy, completeness, or timeliness. Neither Morningstar nor its content providers are liable for any damages or losses that may result from the use of this information. Ratings refer to the previous month.

For more information on Morningstar’s ratings, please visit: https://www.morningstar.co.uk/uk/help/Methodology.aspx.

Date: 31.08.2023

The Morningstar Rating shown here is based on a so-called “Track Record Extension”. This extension of the performance history implies that a back-calculation has taken place. The performance which is given dates back to before the launch of these sub-funds. The simulated performance corresponds to the methodology which is set out in the relevant Morningstar Extended Performance Methodology Paper. For more information please go to: https://www.morningstar.co.uk/uk/glossary/126106/track-record-extension.aspx.

Information regarding use and limited distribution


The information on this website is intended exclusively for investors resident or domiciled in Switzerland. It is not intended for publication, use, or distribution to or by any person in a country other than Switzerland. In particular, this information is not intended for distribution within the United States of America (USA), to or on behalf of US citizens, or to or on behalf of US persons residing in the USA. The information regarding collective investment schemes on the following pages are limited to foreign collective investment schemes which have been approved by the Swiss Financial Market Supervisory Authority FINMA (“FINMA”) for distribution in or from Switzerland to non-qualified investors.

The content provided is for informational purposes only and does not constitute an offer or recommendation.