US Treasury Note Series P 2020 2013 2.125% 31-08-2020 2,12 31/08/2020
US Treasury Note Series AD 2019 2014 1.75% 30-09-2019 1,75 30/09/2019
US Treasury Note Series Q 2021 2014 2.125% 30-09-2021 2,12 30/09/2021
US Treasury Note Series L 2021 2014 2% 31-05-2021 2,00 31/05/2021
US Treasury Note Series H 2020 2013 1.25% 29-02-2020 1,25 29/02/2020
Investment objective and policy
The fund invests mainly in fixed income, variable income and convertible bonds denominated in USD, which are issued by first-rate issuers. Its key objective is to achieve a regular income.
Management report - 4th Quarter 2018
US Treasuries posted positive performance in the fourth quarter of 2018. The JPMorgan index for this market was up +2.41%. The US 10-year yield ended the quarter at 2.68%, 37 basis points lower than at the end of the previous quarter. Falling oil prices and the drop in inflation drove bond yields down. At 30 November, the consumer price index was only up by 2.2% compared to 2.5% the previous month. The price per barrel of Brent crude was down 35% over the quarter, closing at 53.8 dollars. The ISM Manufacturing Purchasing Managers' Index also posted a significant decline over the period, from 59.8 to 54.1. Nevertheless, on 19 December, the Federal Reserve raised its headline interest rate for the fourth time in the year to 2.5%. In view of the loss of acceleration in the US economy, the main question is whether US interest rates will continue to rise. According to the Federal Reserve, interest rates will continue to be gradually increased. However, the number of potential rises remains uncertain given the markets' recent correction. Another concern is that uncertainty over the trade negotiations will also have an impact on the health of the US economy in the coming months.
Net Asset Value
Every business day
NAV class B capitalisation shares (15/02/2019)
1 263,02 USD
NAV class A capitalisation shares (15/02/2019)
Date of last dividend payment
Internal capitalisation code : 1134389000 Internal distribution code : 1134360000 ISIN capitalisation code : LU0093570926 ISIN distribution code : LU0093570843 WKN capitalisation code : 937802 WKN distribution code : 937803 SICOVAM capitalisation code : 959299 SICOVAM distribution code : 959298
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