Target Return Bond



Latest NAV Price - March 23, 2023


Dealing currency


NAV daily change %

USD 170.26 M

Fund size - March 23, 2023


Investment objective summary

The Fund aims to produce a positive total return (through a combination of income and capital growth). The Fund targets a positive total return in excess of LIBOR USD Overnight Rate over rolling 3 year periods regardless of market conditions. Positive total returns and the Fund’s performance target are not guaranteed over rolling 3 year periods, or over any time period, and you may get back less than you invested.

The Fund invests primarily in a diverse range of bonds (contracts to repay borrowed money which typically pay interest at fixed times), money market instruments (tradable securities where money can be invested for short periods) and in related derivatives (financial contracts whose value is linked to the price of an underlying asset).

These bonds may be issued by governments, institutions or companies from around the world including in emerging markets (countries that are in economic terms less developed than the major Western countries). Derivatives may be used for investment purposes (i.e. in order to achieve the Fund’s investment objectives) or for efficient portfolio management purposes e.g. with the aim of either managing the Fund risks or reducing the costs of managing the Fund.