RICHELIEU OBLIGATIONS COURT TERME (I)
A selection of bonds with short maturities in euros
The fund is a selection of short-duration bonds (2 years on average), with no constraints on ratings or issuers, the aim of which is to meet the needs of investors seeking more attractive returns than those on the money markets. This search for performance is accompanied by an increase in “credit” and “interest rate” risks. The fund must still respect a sensitivity range of between 0 and 4.
Managed by Etienne Dubourg, Richelieu Obligations Court Terme will thus be able to invest in bonds in Euros of any kind (fixed or variable rates, hybrids, etc.) and offering a wide choice of State or “Corporate” signatures from all geographical areas.
The selection of securities is carried out:
- on the one hand through an ESG extra-financial analysis by applying a “Best in Universe”* approach
- on the other hand, based on the management team’s expectations of market trends as well as financial analyzes carried out on issuers.
The objective is to achieve, over the recommended investment period of 2 years, a performance net of management fees superior to that of its composite benchmark indicator consisting of 30% of the capitalized ESTER and 70% of the index. Bloomberg Barclays EuroAgg Corporate 1 – 3 Years TR Index net coupons reinvested.
*Since July 15, 2020, the fund has incorporated extra-financial criteria into its investment process. Thus, the fund invests in the 80% best-rated issuers in its universe according to Environmental, Social and Governance (ESG) criteria defined internally.
Performance at 01-06-2023
Past performance is not a reliable indicator of future performance
|At 01-06-2023||RICHELIEU OBLIGATIONS COURT TERME (I)||REFERENCE INDICATOR|
|Overall net assets||44038152 €|
|1 year performance||+0,50%||-0,22%|
|3 years performance||+1,05%||-0,83%|
|5 years performance||-0,09%||-1,28%|
|10 years performance||+7,56%||+0,94%|
|Volatility 1 year||—||—|
|Volatility 3 years||—||—|
|Volatility 5 years||—||—|
|Performance since origin * (see graph)|
|RICHELIEU OBLIGATIONS COURT TERME (I)||+8,98%|
|Annualized performance *|
|RICHELIEU OBLIGATIONS COURT TERME (I)||REFERENCE INDICATOR|
|1 year performance||+0,50%||-0,22%|
|3 years performance||+0,35%||-0,28%|
|5 years performance||-0,02%||-0,26%|
|Performance since origin||+0,83%||+0,15%|
* Figures quoted relate to past years. Past performance is not a reliable indicator of future performance. Sources: internal and Europerformance.
** Until 28/06/2016, the reference indicator used the performance of the composite index 30% EONIA capitalized and 70% of the Euro MTS 1-3 years net coupons reinvested. From 06/28/2016 and until 02/27/2018, the reference indicator was the composite index 30% of the capitalized EONIA and 70% of the Bloomberg Eurozone Sovereign Bond Index 1 to 3 years net coupons reinvested. As of 02/27/2018 the benchmark is the composite index comprising 30% of the capitalized EONIA and 70% of the Bloomberg Barclays EuroAgg Corporate 1 – 3 Years TR Index, net coupons reinvested.
Risk and return profile
At high risk,
The historical data used to calculate this indicator may not constitute a reliable indication of the future risk profile of the UCITS. The risk category associated with this UCITS is not guaranteed and may change over time. The lowest category does not mean a « risk free » investment. The capital initially invested is not guaranteed.
The indicator above reflects the volatility of the UCITS over 5 years given its main exposure to bonds and debt securities in euros. It is calculated on the basis of the FCP’s return history and, in the absence of sufficient history, on the basis of the returns of its benchmark indicator.
The significant risks for the UCITS that are not sufficiently taken into account by the indicator are:
Credit risk : It represents, for negotiable bonds or debt securities and money market instruments, the risk of a sudden deterioration in the creditworthiness of an issuer or that of its default.
Liquidity risk : risk related to the share of investments made in financial instruments that may present by nature and/or under certain circumstances a relatively low level of liquidity.
Risk related to financial futures : risk linked to variations in the prices of forward financial instruments and to a downward or upward amplification effect of market movements.
Counterparty risk : risk of non-payment of a flow (or commitment) due by a counterparty with which positions have been exchanged and commitments signed.