ETF

ETF fondamentali attivi

I nostri ETF obbligazionari attivi mirano a generare sovraperformance e mitigazione del rischio con un approccio fondamentale, mantenendo al contempo un tracking error limitato. In particolare, beneficiano dell’applicazione di un processo di investimento obbligazionario comune e ripetibile, basato su decenni di comprovata esperienza negli investimenti obbligazionari attivi.

Progettato con la libertà di agire in base alla convinzione

Questi innovativi ETF attivi offrono un accesso più ampio e flessibile all’universo del reddito fisso (come obbligazioni investment grade, high yield, indicizzate all’inflazione, ecc.) e ai vantaggi di un investimento obbligazionario gestito attivamente e basato su una ricerca approfondita, mentre la struttura dell’ETF può offrire costi competitivi, maggiore trasparenza e maggiore liquidità.

Combinano la selezione degli emittenti e il monitoraggio del rischio per muoversi senza soluzione di continuità tra settori, titoli ed emittenti, con l’obiettivo di aggiungere valore anche in caso di evoluzione dei mercati.

Paris-aligned¹ credit investing

Non si tratta solo di attivare il potenziale alfa. Aiutare un numero maggiore di obbligazionisti in tutto il mondo a passare a soluzioni coerenti con il clima potrebbe fare una differenza radicale per il pianeta. Gli ETF obbligazionari allineati all’Accordo di Parigi (PAB)² combinano la potenziale generazione di alfa e la mitigazione del rischio con obiettivi assoluti di emissioni di carbonio per le posizioni in portafoglio inferiori o pari al PAB.³

Il nostro approccio attivo

Questi ETF seguono un approccio fondamentale attivo. Gestiti localmente da team di gestione di portafogli obbligazionari di grande esperienza, combinano un approccio top-down con una rigorosa ricerca bottom-up per identificare opportunità e driver di performance a lungo termine, nel modo più accessibile e investibile per gli ETF. Questo approccio ci consente di costruire strategie volte a generare extra-rendimenti mantenendo un tracking error limitato e un profilo di rischio simile a quello dell’indice sottostante.

Ricercare una sovraperformance con un tracking error limitato

Puntare a generare alfa attraverso un processo di investimento fondamentale comu

Utilizzare fonti diversificate di alfa sfruttando team dedicati

Rendere dinamico il portafoglio per mitigare i rischi

Prodotti fondamentali attivi

Fixed income

Contattaci

Il nostro team dedicato agli ETF è pronto ad aiutarti

Contattaci

[1, 2, 3, 4] PAB: Paris Aligned Benchmarks. Gli standard dei Paris Aligned Benchmark mirano a ridurre l’intensità di carbonio del 50% rispetto all’universo di investimento iniziale, oltre a stabilire una riduzione minima annuale dell’intensità di carbonio del 7%.

Important information

Marketing communication. For professional investors only.

Equity strategies may be exposed to other risks defined below:

MARKET RISK: This is a general risk that affects all investments. Price for financial instruments are mainly determined by the financial markets and by the economic development of the issuers, who are themselves affected by the overall situation of the global economy and by the economic and political conditions prevailing in each relevant country

EQUITY RISK: The risks associated with investments in equity (and similar instruments) include significant fluctuations in prices, negative information about the issuer or market and the subordination of a company’s shares to its bonds. Moreover, these fluctuations are often amplified in the short term. the risk that one or more companies suffer a downturn or fail to grow can have a negative impact on the performance of the overall portfolio at a given time. There is no guarantee that investors will see an appreciation in value. The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial investment.

INTEREST RATE RISK: The value of an investment may be affected by interest rate fluctuations. Interest rates may be influenced by several elements or events, such as monetary policy, the discount rate, inflation, etc.

CREDIT RISK: This is the risk that may derive from the rating downgrade of a bond issuer to which the strategies are exposed, which may therefore cause the value of the investments to go down. Strategies investing in high-yield bonds present a higher than average risk due to the greater fluctuation of their currency or the quality of the issuer.

LIQUIDITY RISK: This risk arises from the difficulty of selling an asset at a fair market price and at a desired time due to a lack of buyers.

COUNTERPARTY RISK: This risk is associated with the ability of a counterparty in a financial transaction to fulfil its commitments like payment, delivery and reimbursement.

OPERATIONAL AND CUSTODY RISK: Some markets are less regulated than most of the international markets; hence, the services related to custody and liquidation for the strategy in such markets could be more risky.

DERIVATIVES RISK: When investing in over-the-counter or listed derivatives, the fund aims to hedge and/or to leverage the yield of its position. The attention of the investor is drawn to the fact that leverage increases the volatility of the strategy.

CAPITAL RISK: The investments in the funds are subject to market fluctuations and the risks inherent in investments in securities. The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial outlay, the funds described being at risk of capital loss.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) INVESTMENT RISK: The lack of common or harmonized definitions and labels integrating ESG and sustainability criteria at EU level may result in different approaches by managers when setting ESG objectives. This also means that it may be difficult to compare strategies integrating ESG and sustainability criteria to the extent that the selection and weightings applied to select investments may be based on metrics that may share the same name but have different underlying meanings. In evaluating a security based on the ESG and sustainability criteria, the Investment Manager may also use data sources provided by external ESG research providers. Given the evolving nature of ESG, these data sources may for the time being be incomplete, inaccurate or unavailable. Applying responsible business conduct standards in the investment process may lead to the exclusion of securities of certain issuers. Consequently, the strategy’s performance may at times be better or worse than the performance of relatable funds that do not apply such standards.

This is not an exhaustive list of risks. For a full description of risks associated with each fund, please consult a client relationship manager or the global BNP Paribas Asset Management website: staging.bnpparibas-am.co.uk.

Past performance or achievement is not indicative of current or future performance. Performance is calculated net of fees unless otherwise stated.

Investments are subject to market fluctuations and the risks inherent in investments in securities. The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial investment. There is no guarantee that the performance objective will be achieved.

Investing in emerging markets, or specialised or restricted sectors is likely to be subject to a higher-than-average volatility due to a high degree of concentration, greater uncertainty because less information is available, there is less liquidity or due to greater sensitivity to changes in market conditions (social, political and economic conditions).

Environmental, social and governance (ESG) investment risk: The lack of common or harmonised definitions and labels integrating ESG and sustainability criteria at EU level may result in different approaches by managers when setting ESG objectives. This also means that it may be difficult to compare strategies integrating ESG and sustainability criteria to the extent that the selection and weightings applied to select investments may be based on metrics that may share the same name but have different underlying meanings. In evaluating a security based on the ESG and sustainability criteria, the Investment Manager may also use data sources provided by external ESG research providers. Given the evolving nature of ESG, these data sources may for the time being be incomplete, inaccurate or unavailable. Applying responsible business conduct standards in the investment process may lead to the exclusion of securities of certain issuers. Consequently, (the Sub-Fund’s) performance may at times be better or worse than the performance of relatable funds that do not apply such standards.

This is not an exhaustive list of risks.  For a complete description and definition of risks, please consult a client relationship manager or the global BNP Paribas Asset Management website: staging.bnpparibas-am.co.uk.