Home|funds|Fixed Income|OFI FUND - Euro Breakeven Inflation IXL C EUR

OFI FUND - Euro Breakeven Inflation IXL C EUR

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ISIN: LU0648430014
NET ASSET VALUE|03/07/20209 905.70 EUR
FIRST NAV DATE|12/07/2011
TOTAL AUM|03/07/202099.44 MEUR
FUND UNIT AUM|03/07/202094.95 MEUR
YTD
from 31/12/2019 to 03/07/2020
  • -4.65%
Benchmark* -4.63%
1 YEAR
from 03/07/2019 to 03/07/2020
  • -3.60%
Benchmark* -3.53%
5 YEARS
from 03/07/2015 to 03/07/2020
  • -10.12%
Benchmark* -6.42%
SINCE INCEPTION
from 12/07/2011 to 03/07/2020
  • -0.94%
Benchmark* 2.61%
* Benchmark: Barclays Euro Government Inflation-Linked Bond Index All Maturities then from 13/07/2017

OFI Fund Euro Breakeven Inflation is invested in inflation-linked bonds issued by member countries of the Eurozone. The fund's strategy consists of only seeking exposure to changes in inflation expectations (breakeven inflation). In this way, it aims to capitalise on the potential offered by a rise in implied inflation without placing any directional bets on the change in the real interest rates of the country issuing the linked bond.
The fund's objective is to outperform its benchmark index, the Markit iBoxx Eur Breakeven 7-15Y*, over a 3-year horizon.
As the financial markets do not allow direct exposure to breakeven inflation, the management team takes a synthetic position through:
- A long real interest rate position: buy of inflationlinked bonds;
- A short nominal interest rate position: sale of issuer country interest rate futures.
The portfolio managers are focused on maturities of between 5 and 20 years, producing a structurally high sensitivity to the breakeven inflation rate (between 7 and 11). This conscious choice of a high sensitivity partially hedges a position in a conventional bond portfolio.
* Find out more at: www.markit.com

AMF classification
Legal form
SICAV
Inception date
12/07/2011
Recommended investment horizon
SRRI
SRRI is an indicator going from 1 to 7 and corresponding to increasing risk levels. Risk and performance category indicated in this document is subject to change. This category is determined by the application of a regulatory methodology. For more details about this methodology, please refer to the Key investor information document (KIID).
Risk detail - OFI Asset Management

Debt Securities: debt securities are subject to the risk of an issuer's inability to meet principal and interest payments on the obligation (credit risk) and may also be subject to price volatility due to such factors as interest rate sensitivity, market perception of the creditworthiness of the issuer and general market liquidity (market risk).
Derivative Investments: an investment in derivatives may involve additional risks for investors. These additional risks may arise as a result of any or all of the following: (i) leverage factors associated with transactions in the Sub-Fund; and/or (ii) the creditworthiness of the counterparties to such derivative transactions; and/or (iii) the potential illiquidity of the markets for derivative instruments. To the extent that derivative instruments are utilised for speculative purposes, the overall risk of loss to the Sub-Fund may be increased. To the extent that derivative instruments are utilised for hedging purposes, the risk of loss to the Sub-Fund may be increased where the value of the derivative instrument and the value of the security or position which it is hedging are insufficiently correlated.
Liquidity Risk: it is the risk that certain securities may be difficult or impossible to sell at the time that the seller would like or at the price that the seller believes the security is currently worth.
Counterparty Risk: the Sub-Fund is subject to the risk of the insolvency of its counterparties. Entering into transactions on the OTC markets will expose the Sub-Fund to the credit of its counterparties and their ability to satisfy the terms of the contracts. In the event of a bankruptcy or insolvency of a counterparty, the Sub-Fund could experience delays in liquidating the position and significant losses, including declines in the value of its investments during the period in which the Sub-Fund seeks to enforce its rights, inability to realise any gains on its investments during such period and fees and expenses incurred in enforcing its rights. There is also a possibility that the above agreements and derivative techniques are terminated due, for instance, to bankruptcy, supervening illegality or change in the tax or accounting laws relative to those at the time the agreement was originated.
Interest Rate Risk: the value of the sub-fund’s portfolio is linked to the Interest Rate Level. The degree of the fluctuation is linked to the sensitivity of the portfolio.
Currency Risk: the fund can invest directly in derivatives instrument linked to currencies or invest in instrument valued in a currency different than the reference currency of the fund.
Risk of a fall in the rate of Inflation: This risk may affect the short-term performance of inflation-linked bonds causing a fall in the Sub-Fund's net asset value.
Global Exposure: the Sub-Fund’s exposure to derivative instruments will be covered and will be risk managed using the Value-at-Risk (“VaR”) approach methodology in accordance with applicable law and relevant CSSF circulars on risk measurement.

  • NET ASSET VALUE|9 905,70
  • CURRENCY|EUR
  • NAV DATE|03/07/2020

Historical Net Asset Values

SELECT DATES
  • ISIN CodeLU0648430014
  • Unit currencyEUR
  • Agreement date15/12/2006
  • Inception date12/07/2011
  • First NAV date12/07/2011
  • Valuation frequencyDaily
  • Regulatory authority
  • AMF classification
  • UCITS V classification
  • Legal formSICAV
  • Fund of funds Non
  • Feeder Non
  • Distribution policyAccumulation
  • ‘PEA’ eligible Non
  • Maximum management fees0.61 %
  • Maximum susbscription fees0.00 %
  • Maximum redemption fees0.00 %
  • Maximum subscription fees – non acquired5.00 %
  • Maximum redemption fees– non acquired 0.00 %
  • Outperformance fees
  • CustodianSOCIETE GENERALE BANK TRUST LUXEMBOURG
  • Administrative agentSOCIETE GENERALE SECURITIES SERVICES LUXEMBOURG
  • Asset management companyOFI LUX
  • Delegated asset management companyOFI ASSET MANAGEMENT
  • Subscription cut-off
  • Subscription cut-off time12:00:00
  • Redemption cut-off
  • Redemption cut-off time12:00:00
  • Settlement date
  • Decimalisation2 decimals
  • Terms of redemption
  • Terms of subscription
  • Minimum subscription amount0.00 EUR
  • Minimum subscription units0.00
  • Minimum initial subscription amount10 000 000.00 EUR
  • Minimum initial subscription units0.00
31/12/2018 31/01/2019 28/02/2019 29/03/2019 30/04/2019 31/05/2019 28/06/2019 31/07/2019 30/08/2019 30/09/2019 31/10/2019 29/11/2019 31/12/2019 31/01/2020 28/02/2020 31/03/2020 30/04/2020 29/05/2020
SCR Market 0.57 % 0.05 % 0.02 % 0.02 % 0.03 % 0.04 % 0.12 % 0.07 % 0.05 % 0.15 % 0.17 % 0.13 % 0.12 % 0.09 % 0.13 % 0.06 % 0.03 % 0.03 %
PnL interest Rate Down -0.57 % -0.53 % -0.45 % -0.42 % -0.46 % -0.53 % -0.43 % -0.45 % -0.88 % -0.42 % -0.45 % -0.41 % -0.44 % -0.43 % -0.53 % -0.30 % -0.33 % -0.36 %
PnL interest Rate Up -1.04 % 0.05 % 0.02 % 0.02 % 0.03 % -0.04 % -0.12 % -0.07 % -0.05 % -0.15 % -0.17 % -0.13 % -0.12 % 0.09 % 0.13 % -0.06 % -0.03 % 0.03 %
SCR Equity 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 %
SCR Currency 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 %
SCR Credit 0.00 % 0.00 % 0.00 % 0.00 % 0.01 % 0.00 % 0.00 % 0.00 % 0.00 % 0.01 % 0.01 % 0.01 % 0.02 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 %
SCR concentration 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 %
SCR Real Estate 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 %
Archives

The KIID must be provided to investors prior to any investment being made. Practical information, risk and reward profile and charges related to the investment in a fund are described in the fund’s KIID.

The figures mentioned cover past years. Past performances are not a reliable indicator of future performances. The investments mentioned herein are one way to capture financial market returns in exchange for a certain amount of risk. Invested capital and performances are not guaranteed, and there exists a risk of loss of capital.

IMPORTANT INFORMATION
The website (the “Site”) is considered as a marketing communication provided by OFI Asset Management (“OFI AM”), whose registered office is at 22 rue Vernier F-75017 Paris, France and approved by the Autorité des Marchés Financiers (AMF) in France as a management company of UCITS under agreement number GP 92021 and its Luxembourgish subsidiary OFI LUX, UCITS management company, whose registered office is at 10-12 boulevard F.D. Roosevelt L-2450 Luxembourg and authorised by the Commission de Surveillance du Secteur Financier (CSSF) in accordance with Chapter 15 of the 2010 Law on undertakings for collective investment as amended.
This website is not a transactional website. The information and opinions contained on this website do not take into account individual circumstances, investment objectives, financial situation or specific needs of the investors and cannot, in any case, be considered as tax, legal or investment advice or recommendation in respect of such products and services. Tax regimes depend on each investor’s own circumstances and may be subject to change in the future. We recommend you to liaise with your financial and tax advisor to ensure the suitability of the products / services regarding to your personal situation, your profile and your investment objectives.
This website is not intended for « US person » for the purposes of Regulation S in application of the United States Securities Act 1993.
Investments involve risks. The value of an investment may go down as well as up and you may not get back the amount you originally invested. There is no assurance that Funds objectives will be achieved or that there will be a return on capital. Past performances are not a reliable indicator of future performance and may be misleading. You must read the Prospectus and the KIIDs before any investment decision.