Global Fixed Income

Summary

STRATEGY FACTS

As of 12/31/2018 tooltip

When Listed:

Mutual funds and CIT only available in the United States.

SICAVs only available in certain non-U.S. countries. Please check country availability.

Available Vehicles Separate Account
CIT
Mutual Fund
Investment Universe Primarily Investment-Grade Bonds
Benchmark Bloomberg Barclays Global Aggregate Bond Index (USD, Hedged)
Inception Date 02/01/2011
Total Assets $1.68 B

TARGET

Tracking Error 1.5% - 2.5%
Excess Return 0.5% over a standard market cycle

INVESTMENT TEAM

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Portfolio managers are not licensed by the Hong Kong Securities and Futures Commission to perform any regulated function in or from Hong Kong. Furthermore, none of the portfolio managers are located in or operate in or from Hong Kong.

Documents & Resources

 

Global Fixed Income (USD Hedged) is structured to exploit inefficiencies throughout the world’s bond and currency markets through disciplined fundamental analysis.

We believe that significant areas of the bond market are inherently inefficient and mean reverting, and opportunities exist to exploit the bond market's inefficiencies and mean reversion tendencies. We do this by applying a relative value approach to identify a diverse collection of active positions across sectors, countries, currencies and yield curves encompassed within a risk-managed framework. Our objective is to construct well diversified portfolios in which correlations among alpha sources are low with no single alpha source dominating performance.

Underlying Tenets:

  • Proprietary Fundamental Research
  • Diversified Sources of Return
  • Active Risk Budgeting

Performance

As of 12/31/2018

  COMPOSITE PERFORMANCE IN USD (%)
  QTR YTD 1 YR 3 YR* 5 YR* Since Inception*
Global Fixed Income (gross) 0.76% 0.57% 0.57% 3.31% 3.72% 3.94%
Global Fixed Income (net) 0.72% 0.39% 0.39% 2.85% 3.04% 3.24%
Standard Deviation --- --- 1.75% 2.27% 2.34% 2.51%
Sharpe Ratio --- --- -0.74 1.02 1.33 1.41
Bloomberg Barclays Global Aggregate (USD Hedged) 1.74% 1.76% 1.76% 2.91% 3.44% 3.59%
Excess Return -0.98% -1.20% -1.20% 0.40% 0.27% 0.35%
Tracking Error --- --- 1.25% 0.96% 0.89% 0.94%
Information Ratio --- --- -0.95 0.41 0.31 0.37

*Annualized

Sources: Bloomberg Index Services Ltd, FactSet

Data reflects past performance. Past performance does not guarantee future results. The value of investments may fluctuate. Data assumes reinvestment of dividends and capital gains.

For a presentation that complies with the GIPS® standards, click here .

For purposes of compliance with the Global Investment Performance Standards ("GIPS®"), the Firm is defined as American Century Investment Management, Inc. ("ACIM"). ACIM claims compliance with GIPS®. The Global Fixed Income composite includes portfolios that invest in high-quality bonds or debt securities issued by corporations and governments globally. Index futures (and currency forwards and futures, where applicable or appropriate) are occasionally used to equitize cash and manage portfolio risk. Other derivative instruments may be used, as allowed, as part of the investment strategy. Returns are calculated and stated in U.S. dollars and may increase or decrease as a result of currency fluctuation.