OpenList — Long Only

Vontobel TwentyFour Strategic Income Fund

Fixed Income · Global · Total Return Bonds

Figures refer to the share class ISIN LU1325135033, currency EUR, clean share class.

Fund documents

For the share class shown above.

Factsheet (PDF, 31.08.2026)KID (PDF, 28.07.2026)All documents on fundinfo

Key facts

Management company
Vontobel Asset Management S.A.
Asset class
Fixed Income
Geography
Global
Strategy
Total Return Bonds
Share class currency
EUR
Share class inception
30.11.2015
Fund size
6245 million (as at 14.09.2026)
Management fee
0.60%
Performance fee
No
Liquidity
Daily
UCITS
Yes
Risk grade (SRRI)
2 (WSP fund database, as at 22.08.2026)
Registered in Switzerland
Yes

Price history

Rebased to 100 at 30.09.2021.

808590951002022202320242025202679.9Fund (share class shown)808590951002022202320242025202679.9Fund (share class shown)
Table view
PeriodFromFund (100 at start)
1Y03.10.202594.4
3Y29.09.2023102.1
5Y30.09.202179.9
Since 201530.11.201580.8

NAV per share, distributions not reinvested.
In EUR, the currency of the share class shown.
Benchmark line not shown: price history held back: source clearance pending.
Fund history to 28.09.2026.
Past performance is not a reliable indicator of future results, and the value of investments can fall as well as rise.

Performance against the benchmark

08YTD: Fund 0.80%YTD: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 0.20%YTD1Y: Fund 2.26%1Y: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 1.13%1Y3Y p.a.: Fund 6.30%3Y p.a.: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 4.18%3Y p.a.5Y p.a.: Fund 0.80%5Y p.a.: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 0.72%5Y p.a.2025: Fund 4.90%2025: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 3.66%20252024: Fund 7.30%2024: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 4.38%20242023: Fund 8.10%2023: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 5.04%2023Fund (share class shown)BenchmarkYTDYTD: Fund 0.80%0.80YTD: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 0.20%0.201Y1Y: Fund 2.26%2.261Y: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 1.13%1.133Y p.a.3Y p.a.: Fund 6.30%6.303Y p.a.: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 4.18%4.185Y p.a.5Y p.a.: Fund 0.80%0.805Y p.a.: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 0.72%0.7220252025: Fund 4.90%4.902025: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 3.66%3.6620242024: Fund 7.30%7.302024: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 4.38%4.3820232023: Fund 8.10%8.102023: Strategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY 5.04%5.04Fund (share class shown)Benchmark
1M3M6MYTD2025202420231Y3Y5YVolatilitySharpe R.Max DD
FundISIN LU1325135033, currency EUR, clean share class0.400.21-0.310.804.907.308.102.266.300.804.320.80-2.46
BenchmarkStrategic income EUR - 60% BarCap Global Aggr EURh + 40% ICE BofA Euro HY0.11-0.31-1.020.203.664.385.041.134.180.723.510.39-2.27
Differencefund minus benchmark, in percentage points0.290.520.710.601.242.923.061.132.120.08–––

Within the list: OpenList — Long Only

Compared with the fixed income funds on OpenList — Long Only (15 funds), each in the share class and currency its list shows. Returns are in each share class's own currency and are not converted.

This fundGroup medianPosition
Return 1Y2.265.1813 of 15
Return 3Y p.a.6.308.4911 of 15
3Y p.a. over its own benchmark2.122.097 of 15
Volatility 3Y4.324.836 of 15
Sharpe ratio 3Y0.800.869 of 15
Max drawdown 3Y-2.46-2.607 of 15
Management fee0.60%0.60%8 of 15

Position 1 is the highest value, except for volatility and the management fee, where 1 is the lowest; for max drawdown, 1 is the smallest fall.

Return against risk, 3 years

015Return 3Y p.a. (%)Volatility 3Y (%)017BNY Mellon Global Credit Fund: volatility 4.99%, return 5.71% p.a.BNY Mellon Global Short-Dated High Yield Bond Fund: volatility 2.47%, return 8.49% p.a.Barings Emerging Markets Local Debt Fund: volatility 9.69%, return 8.96% p.a.Barings Global High Yield Bond Fund: volatility 3.87%, return 9.06% p.a.DNCA Alpha Bonds: volatility 1.92%, return 4.53% p.a.H2O Multibonds FCP: volatility 16.10%, return 10.96% p.a.PIMCO Capital Securities Fund: volatility 4.44%, return 10.21% p.a.Robeco Corporate Hybrid bonds: volatility 3.06%, return 6.65% p.a.Robeco Global SDG Credits: volatility 5.02%, return 2.95% p.a.Solitaire Global Bond Fund: volatility 5.56%, return 13.61% p.a.TCW Global Income Fund: volatility 4.83%, return 6.20% p.a.TCW Multi-Sector Fixed Income Fund: volatility 3.61%, return 6.31% p.a.Vanguard Emerging Markets Bond Fund: volatility 6.54%, return 10.45% p.a.Vontobel Emerging Markets Debt: volatility 6.85%, return 13.94% p.a.Vontobel TwentyFour Strategic Income Fund: volatility 4.32%, return 6.30% p.a.This fund015Return 3Y p.a. (%)Volatility 3Y (%)017BNY Mellon Global Credit Fund: volatility 4.99%, return 5.71% p.a.BNY Mellon Global Short-Dated High Yield Bond Fund: volatility 2.47%, return 8.49% p.a.Barings Emerging Markets Local Debt Fund: volatility 9.69%, return 8.96% p.a.Barings Global High Yield Bond Fund: volatility 3.87%, return 9.06% p.a.DNCA Alpha Bonds: volatility 1.92%, return 4.53% p.a.H2O Multibonds FCP: volatility 16.10%, return 10.96% p.a.PIMCO Capital Securities Fund: volatility 4.44%, return 10.21% p.a.Robeco Corporate Hybrid bonds: volatility 3.06%, return 6.65% p.a.Robeco Global SDG Credits: volatility 5.02%, return 2.95% p.a.Solitaire Global Bond Fund: volatility 5.56%, return 13.61% p.a.TCW Global Income Fund: volatility 4.83%, return 6.20% p.a.TCW Multi-Sector Fixed Income Fund: volatility 3.61%, return 6.31% p.a.Vanguard Emerging Markets Bond Fund: volatility 6.54%, return 10.45% p.a.Vontobel Emerging Markets Debt: volatility 6.85%, return 13.94% p.a.Vontobel TwentyFour Strategic Income Fund: volatility 4.32%, return 6.30% p.a.This fund

Share classes on the OpenList

ISINCurrencyTypeMgmt fee1Y3Y
LU1325135033 (shown above)EURClean share class0.60%2.266.30
LU1551754515EURRetail share class1.20%1.675.66

WSP commentary

Draft commentary, machine-generated from the fund's monthly factsheet dated 31.08.2026; key information document (PRIIPs), not yet reviewed by WSP.

Investment rationale

This is an actively managed global bond fund designed to provide an attractive level of income together with the opportunity for capital growth. It is classified as a low-risk product on the Key Information Document’s 1-to-7 scale with an SRI of 2, and the recommended holding period is 5 years. The Sub-Fund is intended for retail investors with knowledge and/or experience of these types of products, a medium- to long-term investment horizon, and the ability to bear losses up to the amount invested. Its role is differentiated by its flexible use of global credit, including high yield, ABS, MBS, AT1, RT1, Tier 2 and CoCo bonds, with the ability to position for both rising and falling interest rates.

Investment strategy

The fund’s stated objective is to achieve an attractive level of income along with the opportunity for capital growth. It invests worldwide, including emerging markets, in fixed-interest and floating-rate securities such as government, supranational and corporate bonds, contingent convertible bonds, and asset-backed securities including mortgage-backed securities; it may invest across all credit ratings, including high yield. The Key Information Document states limits of up to 49% of net assets in CoCo bonds, 20% in ABS including MBS, up to 10% in UCITS/UCIs, no more than 5% in distressed securities, and up to 20% in bank deposits at sight, while in exceptionally unfavorable market conditions it may hold up to 100% in money-market instruments and bank deposits at sight. The share class is EUR-hedged against the Sub-Fund’s main currency, the fund may use derivatives for investment and hedging purposes, it is not managed to a benchmark, distributes income quarterly, and has a recommended holding period of 5 years.

Investment philosophy

• The investment universe is global fixed income, including government, supranational and corporate issuers, and spans fixed-interest and floating-rate securities across the rating spectrum, including high yield, ABS, MBS, AT1, RT1, Tier 2 and CoCo bonds.

• The investment team identifies relative-value opportunities through rigorous economic, technical and credit analysis, and the portfolio manager has full discretion within predefined investment limits because no benchmark is used.

• The process is flexible and aims to benefit from both rising and falling interest rates; derivatives may be used to achieve the investment objective and for hedging purposes, while the EUR share class is continually hedged against the Sub-Fund’s main currency.

• Sustainability is integrated through specific criteria that combine the promotion of environmental and/or social characteristics with a commitment to sustainable investments, with at least 15% of net assets invested in sustainable investments.

• Current positioning is concentrated in banking, government and ABS, with regional exposure mainly to Europe, the US and the United Kingdom; the largest disclosed holdings include DBR 2.9 02/15/36, T 4 3/8 05/15/36, T 4 1/4 08/15/35 and BTPS 3.8 07/01/36, and stated limits include up to 49% in CoCo bonds, 20% in ABS/MBS and 5% in distressed securities.

The asset manager

The management company is Vontobel Asset Management S.A., based in Luxembourg, and the investment manager is TwentyFour Asset Management LLP. The Key Information Document states that Vontobel Asset Management S.A. is part of Vontobel Group and is authorized in Luxembourg and supervised by the CSSF. TwentyFour Asset Management LLP is registered in England and authorized and regulated in the UK by the Financial Conduct Authority, with its registered office at 4th Floor, 20 Fenchurch Street, London, EC3M 3BY. The fund itself is domiciled in Luxembourg and structured as a UCITS umbrella fund under Vontobel Fund, with this Sub-Fund categorized under Article 8 SFDR.

Strengths

The fund stands out for its broad and flexible fixed-income toolkit, combining traditional sovereign and corporate bonds with structured credit and bank capital instruments such as ABS, MBS, AT1, RT1, Tier 2 and CoCo bonds. It also has the ability to move defensively, including holding money-market instruments and sight deposits in exceptionally unfavorable market conditions. The EUR share class is currency-hedged against the Sub-Fund’s main currency, and the fund offers daily redemption while remaining swing-pricing eligible. Its Article 8 SFDR classification and minimum 15% allocation to sustainable investments are explicit structural features of the strategy.

Risks

The Key Information Document classifies the fund at SRI 2 on a 1-to-7 scale, while stating that the product does not include capital protection and that investors could lose some or all of their investment. The named risks include market risk, fixed income risk, credit risk, interest rate risk, liquidity risk, performance risk and operational risk, together with high yield investment risk, contingent convertible bond risk, emerging markets risk, currency risk and currency trading risk. Additional risks arise from the use of derivatives and leverage, and the KID also notes legal and sustainability risks not captured in the SRI. These risks are linked to the fund’s global credit approach, its ability to invest in lower-rated bonds, CoCo bonds, ABS and MBS, and its use of currency hedging and derivatives.

WSP report

The WSP report on this share class, as a PDF.

Download the WSP report (PDF)

Back to the list: OpenList — Long Only

Performance: in %, in the currency of the share class shown. 3Y and 5Y are annualised. Volatility and Sharpe ratio are over three years; Max DD is the largest fall over three years.
Benchmark: each fund is measured against the index its own documents name. Where WSP measures a fund against a comparator of its own instead, the row names it: a tracker or a blend of the markets the fund invests in, or a cash-plus hurdle
– means not applicable. "Not available in this publication" means no value is shown here; it does not mean zero.
Period figures as of 31.08.2026.

This page is advertising within the meaning of the Swiss Financial Services Act. It is not an offer, a recommendation or investment advice. The prospectus and key information document for any fund shown may be obtained free of charge from its management company or Swiss representative