Global High Yield Bond

Strategy highlights

: A truly global strategy, investing across all major geographies depending on relative value and not constrained by index weightings

Investment universe defined by expertise of the team and not based on how much an issuer borrows

Emphasis placed on long-term investing

Security selection driven by bottom-up proprietary research which is underpinned by our multidimensional approach

Learn more about our multidimensional investment philosophy

Strategy profile

Objective: To achieve strong returns and a high yield from a portfolio invested predominantly in global fixed-interest securities
Performance benchmark: ICE Bank of America Merrill Lynch Global High-Yield excluding Bank Capital & Junior Subordinated (GBP hedged)*
Strategy inception: Composite inception: 1 January 2001
Strategy available through pooled UK vehicle: BNY Mellon Global High Yield Bond Fund

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View Key Investor Information Document
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: * ICE Bank of America Merrill Lynch Global High-Yield excluding Bank Capital & Junior Subordinated (GBP hedged) is used as a comparator for this strategy. The strategy does not aim to replicate either the composition or the performance of the performance benchmark.

Investment team

The strategy is managed by an experienced team with a wide range of backgrounds. In-house research analysts are at the core of our investment process, and our multidimensional research capabilities help to promote better-informed investment decisions.

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Scott Freedman

Credit analyst & portfolio manager, Fixed Income team

Ashwin Palta

Credit research analyst, fixed income

Howard Cunningham

Portfolio manager, Fixed Income team

Jon Day

Portfolio manager, Fixed Income team

Trevor Holder

Portfolio manager, Fixed Income team

Ella Hoxha

Head of Fixed Income

Your capital may be at risk. The value of investments and the income from them can fall as well as rise and investors may not get back the original amount invested.

Key investment risks

: Objective/performance risk: There is no guarantee that the strategy will achieve its objectives.

Currency risk: This strategy invests in international markets which means it is exposed to changes in currency rates which could affect the value of the strategy.

Derivatives risk: Derivatives are highly sensitive to changes in the value of the asset from which their value is derived. A small movement in the value of the underlying asset can cause a large movement in the value of the derivative. This can increase the sizes of losses and gains, causing the value of your investment to fluctuate. When using derivatives, the strategy can lose significantly more than the amount it has invested in derivatives.

Changes in interest rates & inflation risk: Investments in bonds/money market securities are affected by interest rates and inflation trends which may negatively affect the value of the strategy.

Credit ratings and unrated securities risk: Bonds with a low credit rating or unrated bonds have a greater risk of default. These investments may negatively affect the value of the strategy.

Credit risk: The issuer of a security held by the strategy may not pay income or repay capital to the strategy when due.

Emerging markets risk: Emerging Markets have additional risks due to less-developed market practices.

Liquidity risk: The strategy may not always find another party willing to purchase an asset that the strategy wants to sell which could impact the strategy’s ability to sell the asset or to sell the asset at its current value.

Counterparty risk: The insolvency of any institutions providing services such as custody of assets or acting as a counterparty to derivatives or other contractual arrangements, may expose the strategy to financial loss.