Tideway GBP Hybrid Capital Fund

The Tideway GBP Hybrid Capital Fund aims to generate 5% per annum income, net of all expenses, from a hybrid capital fixed income portfolio with medium volatility.

The Fund is designed for investors with medium to long-term liquidity requirements (5 years plus).

The Fund is a more secure alternative to Equity Income as the assets and expected cash flow are typically ranked senior to equity in the issuing company balance sheet.

Fund Objectives

  • Target income of 5% net of fees
  • Medium volatility - SRRI Risk Rated 4

Investment Strategy

  • Long only, GBP only portfolio of Hybrid Capital
  • Household name portfolio
  • 30 % Limit on Contingent Convertible Securities (CoCo’s)
  • 50 % Limit of Sub-Investment Grade senior issuer ratings
  • There will be no restriction on the duration of the Fund
  • The Fund’s investment in debt and debt-related securities shall include both primary market and secondary market securities.

Document Library

Note: it is important that before you invest, you should read the relevant Prospectus and KIID documents. These documents and the latest factsheet can be found in our Document Library.

Top Holdings

These are the Fund's top holdings, as a % of NAV, as of 30-9-2018.

Pension Insurance Corp (5.625, 20/09/30) 6.1%
Rothesay Life (6.875, Perp) 5.8%
Credit Agricole (7.5, Perp) 5.3%
Scottish Widows (7, 16/06/43) 5.2%
Virgin Money (8 3/4, 31/12/49) 4.9%

 

Tideway Investment Partners LLP
is authorised and regulated by the
Financial Conduct Authority.
FCA number 496214.

Contact
Tideway Investment Partners LLP
Thomas House
84 Eccleston Square
London SW1V 1PX
+44 (0)20 3143 6100
info@tidewayinvestment.co.uk