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| Fund Overview | The Fund may also invest in derivatives for hedging purposes. The portfolio of the Fund comprises primarily Investment Grade holding of 75% of the Fund's assets. Benchmark allocations are Australasia 50% to 100%, North America 0% to 50% and Europe 0% to 50%. Currency hedging may take place depending on benefits to the Fund. |
| Manager Comments | The Fund has a healthy allocation of 54% to residential mortgage-backed securities (RMBS), which the investment team believes to have great relative value. The Fund continues to be conservatively positioned from a credit duration perspective. At the end of May, the duration was at 1.3 years. The Fund is also looking to increase the overall macro hedges in the portfolio as risk assets rise. At month-end, the portfolio had 4% invested in cash. Click below to read the latest monthly report. |
| More Information |
