Fonds IVO Capital

GLOBAL CORPORATE BOND FUND

Launched in April 2015, IVO Fixed income is a specialized UCITS Fund with the purpose of investing in corporate bonds in hard currencies where a revaluation on the price is expected or where there is attractive yield for a given amount of risk. The Fund is looking for anomaly between issuer credit metrics, international rating and current yield. Once opportunities identified, the philosophy is mainly invest in opportunities where yield pick-up is not justified by issuer internal factors but is justified by external factors. Issuer's country of incorporation and issuer's sector are the typical external factors, which could impact a bond price, the Fund is monitoring.
The hedging instruments aim at reducing the currency risk to a minimum of 30% USD exposure. All bonds issued must be subject to either NY Law, London Law or Luxembourg Law.


NAV EVOLUTION



 
FUND PERFORMANCE

FundDate3 months6 monthsYTD1 year
IVO FIXED INCOME (EUR)03/08/18-1,1%-0,9%-0,9%+2,4%

Past performance is not a guide to current and future performance.

 
TOP HOLDINGS

5 Main Bonds CountrySectorWeightYTW
Provinc. de Buenos AiresArgentinaGovernment5,0%5,3%
Servicios Corp JaverMexicoConsumer Goods3,4%5,4%
Colombia TelecomColombiaTelecoms3,3%5,4%
Andrade GutierrezBrazilIndustrial3,3%4,3%
JBS InvestmentsUnited States Food & Beverage3,1%7,1%

USEFUL INFORMATION




KEY FIGURES

Inception Date24 April 2015
NAV as of 03 August 2018118,89
Fund Net Assets161,37M€
Fund Volatility2,3%
Weighted Average YTW5,3%
Weighted Average RatingB+


FUND CHARACTERISTICS

ISIN Code (R) : LU11655644672
Bloomberg Ticker : IVOCAPR LX Equity
Base Currency : EUR
Inception Date : 24 April 2015
Fund Managers : Roland Vigne and Michael Israel
Vehicule : Luxembourg Fund
Liquidity : Weekly
Investment Horizon : 3 years min.
Asset Management company : IVO Capital Partners
Depositary Agent : Société Générale
Auditor : Deloitte


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Roland Vigne
Gérant du fonds


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Roland Vigne began his Latin America career in 2000 at Scotia Capital in Mexico in the investment banking department. In 2005, he joined Merrill Lynch in Mexico at first and later in New York as a Debt Prop Trader, where he was part of a team responsible for a $ 1 billion corporate and structure debt portfolio. In 2009 he joined Nomura Securities in Sao Paulo, Brazil, as Executive Director and assisted Oil & Gas companies in their capital raising and especially in the issuance of structured debt. Michael and Roland know each other for more than 20 years and they work together for many years on the same investment strategy as the VO Fixed Income Fund's one.


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Michael Israel
Fund Manager


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Michael Israel began his career in 2000 at Paribas in Paris. In 2001, he joined Rothschild & Co for five years. In 2005, Michael joined Merrill Lynch to head a credit investment team specialized in special situations opportunities offered to private and institutionnal investors. His team covered a broad range of specific credit products with a particular focus on structured credit, global high yield, Latam High yield and subordinated debt. Before leaving Merrill Lynch to found IVO Capital Partners, Michael 's portfolio AUM were at $500M. Michael and Roland know each other for more than 20 years and they work together for many years on the same investment strategy as the VO Fixed Income Fund's one.

Pour plus d’informations sur le fonds, veuillez  nous contacter