Fixed Income
Guinness Global Dynamic Bond
Überblick
The Guinness Global Dynamic Bond Fund seeks income and capital growth by investing across global fixed-income markets.
Bonds can offer an attractive combination of yield and stability for income-seeking investors. But opportunities vary significantly across sectors, maturities and credit quality. The challenge for investors is knowing where to find them.
Higher yields are only part of the story. Inflation volatility, energy sensitivity and fiscal uncertainty have also increased dispersion across bond markets, making flexibility more valuable.
Income can also play a meaningful role in total returns. When yields are attractive, coupons and reinvestment provide a strong foundation for long-term compounding, making the starting yield at the point of investment an important consideration.
The Guinness Global Dynamic Bond Fund is designed to generate income and capital growth with the flexibility to allocate across duration, credit and currency opportunities.
A dynamic bond strategy is most valuable when the fixed-income opportunity set is uneven. Government bonds, investment grade credit, selective higher-yielding issuers and currency markets all respond differently as inflation, growth and policy conditions evolve.
By following a total return approach that is unconstrained by benchmark weights, the portfolio focuses on attractive risk-reward opportunities across global bonds. It seeks to deliver returns through different market environments by combining income, value-driven credit selection and active macro flexibility.
- Income - An important part of the strategy’s return profile. The portfolio is designed to generate attractive monthly income, with accrued income paid out on a gross basis and fees charged to capital.
- Value-driven credit selection - Anchored by a strategy that identifies undervalued opportunities across investment grade and higher-quality crossover bonds.
- Dynamic macro flexibility - The strategy includes a dynamic macro overlay designed to manage duration, credit beta and FX exposure as market conditions change.
The investment process is structured, repeatable and designed to adapt across market environments. It combines bottom-up credit selection with active macro management through a clear sequence: filter the universe, rank valuation, test the credit, overlay the macro, and construct the portfolio with discipline.
What does a dynamic fixed-income strategy offer?
- Broad global bond universe - Issuers and bonds are ranked by valuation dislocation, with research focused on the most compelling opportunities.
- Bottom-up analysis - Conviction builds when valuation is supported by fundamentals and by a clear catalyst that can help close the gap to fair value.
- Dynamic macro overlay - The strategy includes a dynamic macro overlay, developed over many years and supported by quantitative inputs, designed to manage duration, curve exposure, credit beta and FX positioning as conditions evolve.
- Disciplined construction framework - Research and macro processes are translated into portfolio positions through a construction framework that ensures the portfolio remains aligned with the strategy’s objectives.
- Balancing conviction, flexibility and liquidity - Position sizes are determined by valuation, conviction, liquidity and diversification rather than by index weights, allowing capital to be focused on the most attractive opportunities while maintaining a disciplined overall risk profile.
- Measured, transparent risk - Duration is actively managed, FX exposure is controlled within a disciplined limit and derivatives are used to adjust interest-rate exposure, hedge credit beta or improve portfolio balance.
- Prioritising downside discipline - The strategy prioritises quality, liquidity and downside discipline over maximum carry, which can make it more robust through stressed environments.
The Guinness Global Dynamic Bond Fund could be suitable for investors seeking income and capital growth through attractive risk-reward opportunities across the global bond universe.
Fondsdaten
- Launch Date
- 13.07.2026
- Fund Managers (start date)
- Craig Veysey (13.07.2026)
- ISIN
- IE000Z2LJNK4
- SEDOL
- BT5HHH4
- BLOOMBERG
- GDBFCEA ID
- Underlying currency
- USD
- Pricing
- Daily, forwards
- Valuation
- 12:00 Dublin time
- Deal cut off time
- 11:00 Dublin time
- Administrator
- Waystone Administration Solutions (IE) Limited
- UK Reporting Fund Status
- Yes
- ISA Eligible
- Yes
1.63%
Fund Registration
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Kommentar
September Commentary
Dies ist eine Marketingmitteilung. Bitte lesen Sie vor einer endgültigen Anlageentscheidung den Prospekt, den Nachtrag (Supplement) sowie die KIDs und KIIDs der Fonds (auf dieser Website verfügbar), die ausführliche Informationen zu deren Merkmalen und Zielen sowie vollständige Informationen zu den Risiken enthalten.
August began by reversing July's inflationary pressures, with Brent crude retracing below $80 and government bond yields following it lower. Oil then climbed steadily through the rest of the month to finish roughly where it started, and yields retraced with it. At Jackson Hole on 28 August, Fed Chairman Kevin Warsh said underlying inflation had not meaningfully improved, and the probability of a September rate rise moved immediately from around 35% to close to 60%. The weakness in government bond markets has left starting yields at their most attractive in years. The US 10-year has traded at 5% in September, a level reached only briefly since the financial crisis. German 10-year yields are around 3.5%, the UK offers well over 5%, and Japan now yields more than 3%. Sentiment towards the highest-quality government debt is now very negative. Should a shock arrive that is not currently priced, or should growth and inflation expectations simply moderate, that positioning is likely to unwind and support returns. Long-dated bonds benefit most if yields decline, and with curves this steep, they compound attractively while we wait. This is the case for the 30-year US Treasury as the Fund's largest holding. In this commentary we cover the Fund's activity in August, including two new credit positions, our outlook for global bond markets, and the portfolio's current positioning.
Vollständiger Kommentar
Guinness Global Dynamic Bond Fund - September Commentary
September 2026
Literatur
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