| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months (pa) | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | |
| Manager Comments | The portfolio remains well diversified with a broad spread of securities by legal structure. Bank T2 capital remains at 25% of the portfolio, while senior unsecured comprises 29% and senior secured represents 11%. The Fund holds 10% in ASX listed securities. Over the month hybrid securities recorded their first negative month since February 2019 which had an adverse effect on performance. The portfolio is positioned to take advantage of movements in spreads or rates. With 11.6% in cash, the Fund can take advantage of any credit spread weakness. Spectrum noted that over time the cash balance will be reinvested. The portfolio continues to maintain an average credit rating of A-. |
| More Information |
