ASX: SUBD
Performance
1
Year
Year
2.53
3
Year
Year
5
Year
Year
Since Inception
2.55
Running Yield
2.13
Yield To Maturity
1.41
Data Current To: 31/12/2020
Information
Issuer: |
VanEck |
Sector: |
Corporate |
Index: |
iBoxx AUD Investment Grade Subordinated Debt Index |
Inception Date: | 28/10/2019 |
Strategy: | Offering a higher yield relative to cash, term deposits and traditional bonds for a slightly elevated risk |
Details
Management Costs: | 0.29% p.a. |
Income Distribution: | Monthly |
Net Assets: | $124.7m (AUD) |
Number of Holdings: | 17 |
Sector Distribution
Credit Quality
FINA Comments
Key Features
Invests in a portfolio of investment grade subordinated bonds, over 90% allocation to banks and the balance insurance companies
Only invests in AUD denominated floating rate bonds issued by financial institutions that qualify as Tier 2 Capital under APRA's Rules (or equivalent foreign rules)
Short duration with virtually no interest rate risk
Positives | Negatives |
---|---|
Monthly income |
Long average term until maturity with 80% of the portfolio maturing in more than seven years Concentrated, only 17 holdings |