Green Ash Short Duration Credit Fund (GA SDC)






Green Ash Short Duration Credit Fund (GA SDC)

The GA SDC fund is a short duration credit fund that provides exposure to companies with superior ESG metrics relative to peers
  • Green Ash has built upon its expertise in the global credit markets to offer a Short Duration Credit Fund which invests in a balanced mix of liquid global investment grade and high yield bonds with an average portfolio duration below 2.5 years
  • The strategy focuses on companies with superior ESG standards, and looks to achieve stable returns, whilst preserving capital, minimizing drawdown risk and maintaining daily liquidity at all times
  • The fund launched in June 2020 is designed to provide low to moderate credit risk with limited drawdowns
  • The fund is classified as an ESG ‘Article 8’ fund by SFDR.

Green Ash SDC Fund – Key Metrics

Fund Key Characteristics ESG Focus
  • Fully ESG integrated fundamental analysis
  • Combination of best in class selection and socially responsible exclusions
Global Short Duration Crossover

Investment Grade & High Yield blend

  • Min 55% Investment Grade
  • Max 45% High Yield
Laddered Exposure
  • Min. portfolio rating Baa3/BBB-
  • Min. security rating B3/B-
  • Minimised drawdown risk
  • Extensive bottom-up credit research c.70 positions, all currency hedged
UCITS Funds Characteristics
  • Daily liquidity
  • Luxembourg UCITS IV regulated fund structure
  • Hedged Share classes in EUR, USD, GBP, CHF
  • Retail and Institutional
  • USD 31mm AuM
Maturity Buckets Max. Exposure
1 Year 35%
2 Year 35%
3 Year 35%
4 Year 35%
5 Year 25%
Fee Structure & Min. Orders
Institutional 0.45% ($100)
Retail 0.80% ($10K)
Category Max. Exposure
Investment Grade 100%
High Yield 45%
Emerging Market 25%
Non Rated 0%
Duration 2.5yrs
Legal Maturity 5yrs
Non Base FX (EUR) 10%
Cash 100%

Quantifiable ESG Benefit

The GA Short Duration Credit (SDC) Fund has the highest possible MSCI ESG rating of AAA.
The chart below shows the exposure by MSCI ESG rating for the GA SDC fund and both the index of global Investment grade credit and global high yield credit.

GA Short Duration Credit Portfolio & Fund Characteristics

Key Fund Metrics – February 2023
EUR Headged Strategy Feb 2023
Currency EUR
Duration 2.10
Credit Spread 135
Yield to Worst (USD Hedge) 6.60%
Yield to Worst (EUR Hedge) 4.50%
Average Ratings Baa3/BBB-
No. of Positions 51
Cash 2.0%

 

Currency Hedged Yields by Share Class
Once currency hedged the adjusted yields to maturity are currently:

  • USD 6.60%
  • GBP 5.80%
  • EUR 4.50%
  • CHF 3.15%




Performance History

The Green Ash Sustainable Short Duration Credit (SSDC) Strategy was launched in June 2020 – Historical performance below

Prior Year Performance 2020 2021 2022
GA SSDC Fund EUR I IShare Class 1.84% -0.64% -6.68%
GA SSDC Fund USD I Share Class 2.41% 0.23% -4.68%
2023 YTD Performance Jan Feb YTD
GA SSDC Fund EUR I IShare Class 1.55% -0.89% 0.65%
GA SSDC Fund USD I Share Class 1.80% -0.68% 1.10%

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