Global Core Bond Fund
Global Core Bond Fund - Institutional Plus USD Hedged Acc (VAGCIPU)
Related Documents
About this fund
Fund objectives
- The Fund aims to provide a higher total return (capital growth plus income) than the Bloomberg Global Aggregate Index (the "Index") after the fees and expenses of the Fund. The Fund employs an "active management" strategy in aiming to outperform the Index and in doing so, the Investment Manager will follow distinct approaches in managing the Fund's assets.
- The Investment Manager may in its discretion restrict the extent to which the Fund’s holdings deviate from the Index constituents on a security selection and fixed income sector basis.
- The Fund may take active fixed income sector views with the focus on bond specific selection. The extent to which the Fund can outperform the Index may be restricted by constraints applied by the Investment Manager which limit the potential volatility of the difference between the return of the Fund and the return of the Index. Such constraints may change or be removed from time to time at the Investment Manager’s discretion and depending on market environments.
- The Fund will invest in global fixed income bonds, including fixed and floating rate issues, primarily made up of treasury, government-related, securitised, and corporate debt from developed and emerging market issuers. The Fund will primarily invest in investment grade bonds with a rating of the equivalent of Baa3 and above by Moody‘s or another independent rating agency or, which are determined to be of comparable quality by the Investment Manager.
Fund facts
Share class inception
23 Jul 2025
Minimum initial investment
$100,000,000.00
Investment structure
Irish UCITS
Share Class Assets'
Total Assets
Risk indicator
Strategy
Active
Asset Class
Bond
Domicile
Ireland
Tax status
Italy reporting
Dividend schedule
—
Currency
USD
Index ticker
H00038US
Benchmark
Bloomberg Global Aggregate Bond Index Hedged in USD
The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
Performance
Risk and Volatility
As at 30 Sep 2026
Beta
—R²
— Annualized Tracking Error
1 year
3 years
—5 years
—Portfolio data
Characteristics
| Fundamentals | Fund | Benchmark | As at |
|---|---|---|---|
| Number of bonds | 423 | 32,573 | 30 Sep 2026 |
| 5.0% | 4.5% | 30 Sep 2026 | |
| 4.0% | 3.2% | 30 Sep 2026 | |
| 9.2 Years | 8.1 Years | 30 Sep 2026 | |
| A+ | AA- | 30 Sep 2026 | |
| 5.7 Years | 6.0 Years | 30 Sep 2026 | |
| Cash Investment | -13.7% | — | 30 Sep 2026 |
Market allocation
As at 30 Sep 2026
| Country | Region | Fund | Benchmark | Variance +/- |
|---|---|---|---|---|
| United States of America | North America | 33.39% | 40.36% | -6.97% |
| Japan | Pacific | 7.06% | 8.06% | -1.00% |
| United Kingdom | Europe | 6.01% | 4.37% | 1.64% |
| Poland | Europe | 4.55% | 0.45% | 4.10% |
| Australia | Pacific | 4.51% | 1.76% | 2.75% |
| Italy | Europe | 4.32% | 3.09% | 1.23% |
| Spain | Europe | 4.10% | 2.23% | 1.87% |
| South Korea | Pacific | 4.09% | 1.31% | 2.78% |
| Hong Kong | Pacific | 3.93% | 0.12% | 3.81% |
| Supranational | Other | 3.86% | 2.77% | 1.09% |
| China | Emerging Markets | 3.40% | 11.32% | -7.92% |
| France | Europe | 3.36% | 5.03% | -1.67% |
| Bulgaria | Emerging Markets | 2.82% | 0.03% | 2.79% |
| Czech Republic | Emerging Markets | 2.66% | 0.20% | 2.46% |
| Andorra | Europe | 2.50% | 0.00% | 2.50% |
Distribution by credit quality (% of funds)
As at 30 Sep 2026
| Credit Rating | Fund |
|---|---|
| AAA | 9.15% |
| AA | 39.61% |
| A | 32.16% |
| Less than BBB | 0.57% |
| BBB | 30.61% |
| Not Rated | -12.10% |
Distribution by credit issuer (% of funds)
As at 30 Sep 2026
| Issuers | Fund |
|---|---|
| Treasury/Federal | 27.75% |
| Gov-Related-Agencies | 18.34% |
| Gov-Related-Local Authority | 4.75% |
| Gov-Related-Sovereign | 11.19% |
| Gov-Related-Supranational | 3.86% |
| Corporate-Industrials | 7.43% |
| Corporate-Utilities | 1.90% |
| Corporate-Financial Institutions | 15.04% |
| Securitized-Mortgage Backed Security Pass-through | 15.75% |
| Securitized-Asset Backed Security | 3.14% |
| Cash | -13.73% |
| Other | 4.60% |
Distribution by credit maturity (% of funds)
As at 30 Sep 2026
| Maturity | Fund |
|---|---|
| Under 1 Year | -9.35% |
| 1 - 5 Years | 42.70% |
| 5 - 10 Years | 42.64% |
| 10 - 15 Years | 9.99% |
| 15 - 20 Years | 3.15% |
| 20 - 25 Years | 2.10% |
| Over 25 Years | 8.77% |
Holdings details
As at 30 Sep 2026
| Holding name | % of market value | Market value | Face amount | Coupon/Yield | Maturity date |
|---|---|---|---|---|---|
| Republic of Poland Government Bond | 2.36499% | $2,219,253.74 | 8,858,000 | 4.50% | 25 Jul 2030 |
| Commonwealth Bank of Australia | 2.22549% | $2,088,345.27 | 1,572,000 | 4.26% | 08 Jul 2030 |
| Hong Kong Government International Bond | 2.19979% | $2,064,228.37 | 1,833,000 | 3.63% | 29 Sep 2030 |
| Andorra International Bond | 2.05116% | $1,924,765.94 | 1,700,000 | 3.88% | 07 Oct 2029 |
| United States Treasury Bill | 2.04671% | $1,920,581.81 | 1,922,000 | 0.00% | 08 Oct 2026 |
| Korea Housing Finance Corp | 1.94765% | $1,827,632.18 | 1,835,000 | 5.38% | 07 Oct 2031 |
| Finnvera Oyj | 1.82993% | $1,717,164.60 | 1,515,000 | 3.63% | 07 Oct 2031 |
| UniCredit Bank Czech Republic & Slovakia AS | 1.78278% | $1,672,921.58 | 1,500,000 | 3.50% | 10 Sep 2031 |
| United States Treasury Inflation Indexed Bonds | 1.66901% | $1,566,159.07 | 1,584,041.41 | 0.13% | 15 Apr 2027 |
| China Government International Bond | 1.62427% | $1,524,177.53 | 1,453,000 | 3.13% | 03 Jul 2038 |
Prices and distribution
Prices
NAV Price (USD)
$103.53
USDChange
+$0.560.54% At closure 15 Oct 2026
NAV 52-week high
$105.21
At closure 16 Oct 2026
NAV 52-week low
$102.39
At closure 16 Oct 2026
NAV 52-week difference
$2.82
Change
+2.68% At closure 16 Oct 2026
Historical Prices
-
Inception date
23 Jul 2025
| Date | NAV (USD) |
|---|---|
| 15 Oct 2026 | $103.5336 |
| 14 Oct 2026 | $102.9751 |
| 13 Oct 2026 | $103.1022 |
| 12 Oct 2026 | $102.8308 |
| 09 Oct 2026 | $102.9231 |
| 08 Oct 2026 | $102.8466 |
| 07 Oct 2026 | $102.7329 |
| 06 Oct 2026 | $102.7859 |
| 05 Oct 2026 | $102.6121 |
| 02 Oct 2026 | $102.7031 |
Distribution history
Distribution frequency
—
Historical performance
—
All dividends are reinvested for the "Accumulation" shares.
Purchase information
Currency
Base currency:USD
Fund codes
- Bloomberg:VAGCIPU
- Citi:BU7ZV
- ISIN:IE000F3HXKK1
- MEX ID:VIAAZU
- SEDOL:BS2FTK1