Macquarie Dynamic Bond FundA dynamic global bond solution

What the Macquarie Dynamic Bond Fund aims to offer

Clear philosophy

Focus on preserving capital and managing liquidity

Dynamic approach

Potential for attractive returns across market cycles

Diversification

Potential for diversification against equity market risk

Fund facts
Investment objective The Fund aims to outperform the Bloomberg AusBond Composite 0+ Yr Index# over the medium term (before fees). It aims to provide diversification against equity risk as well as income and some capital growth through a flexible investment strategy
Benchmark Bloomberg AusBond Composite 0+ Yr Index
Portfolio managers Matthew Mulcahy, Andrew Vonthethoff, Shaughn Wilkie, Graham McDevitt
Inception date 30 September 2002
Fund size $A637.3m (current as at 30 September 2018)
Management fee 0.614%pa of the net asset value of Fund
Performance fee 0.00%pa
Minimum investment $A20,000
Distribution frequency Generally quarterly
APIR code MAQ0274AU

Read the Product Disclosure Statement for more details on fees and expenses that may be charged.

Investment strategy

The Fund provides exposure to an actively managed diversified portfolio of Australian and international fixed interest securities such as sovereign bonds and investment grade credit. The Fund may also provide exposure to high yield credit securities and emerging market debt when these sectors are expected to outperform.

Generally, exposure will be to fixed rate notes. The duration profile of the Fund is actively managed through the use of derivatives such as swaps and futures. The investment process aims to reduce the risk of the Fund being adversely affected by unexpected events or downgrades in the credit rating of the Fund’s investments. A disciplined framework is used to analyse each sector and proposed investment to assess its risk.

Performance

Net returns as at 30 September 2018

 
Period 1m (%) 3m (%) 6m (%) 1y (%) 2y (%pa) 3y (%pa) 5y (%pa) Inception* (%pa)
Macquarie Dynamic Bond Fund** -0.48 0.61 3.13 1.37 3.12 3.75 5.95
Benchmark*** -0.43 0.54 3.72 1.46 2.85 4.28 5.56

Download full report

Past performance is not a reliable indicator of future performance.

* Inception date is 30 September 2002

** Total net returns are quoted after the deduction of all fees and expenses. Total returns are calculated based on changes in net asset values and assume the reinvestment of distributions. Due to individual investor circumstances, your net returns may differ from the net returns quoted above.

*** The Benchmark is the Bloomberg AusBond Composite 0+ Yr Index.

Managers

Matthew Mulcahy
Andrew Vonthethoff
Andrew Vonthethoff
Shaughn Wilkie
Shaughn Wilkie
Graham McDevitt
Graham McDevitt
  • Global Strategist — Macquarie Investment Management
  • Read bio

Risks

All investments carry risk. Different investments carry different levels of risk, depending on the investment strategy and the underlying assets. Generally, the higher the potential return of an investment, the greater the risk. The risks of investing in this Fund include:

Investment risk: The Fund seeks to generate higher income returns than traditional cash investments. The risk of an investment in the Fund is higher than an investment in a typical bank account or term deposit. Amounts distributed to unitholders may fluctuate, as may the Fund’s unit price. The unit price may vary by material amounts, even over short periods of time, including during the period between a redemption request being made and the time the redemption unit price is calculated.

Manager risk: There is no guarantee that the Fund will achieve its performance objectives, produce returns that are positive, or compare favourably against its peers. The Investment Manager may change its investment strategies and internal trading guidelines over time, and there is no guarantee that such changes would produce favourable outcomes.

Income securities risk: The fund may have exposure to a range of income securities, including high yield, emerging markets and structured securities. The value of these securities may fall, for example due to market volatility, interest rate movements, perceptions of credit quality, supply and demand pressures, market sentiment, or issuer default. These risks may be greater for securities offering higher returns, for example high yield or emerging market securities. Income security risk may cause unit price volatility and/or financial loss to the fund.

More information on the risks of investing in the Fund is contained in the Product Disclosure Statement, which should be considered before deciding to invest in the Fund.

How to invest

Send us the Application Form and any required identification documents

Resources

Insights

What investors need to know about the European periphery

Read More

The elusive pursuit of inflation

As we entered 2017, bond investors were fearful that inflation and therefore bond yields had reached an inflection point.

Read More

Up up but not away

Read More

Demographic impacts on investment markets

Read More

The only way is up: the death of bonds?

Read More

The impact of negative interest rates

Read More