Institutional USD Fact SheetA Sub-Fund of the Catalyst International UCITS ICAV, an Ireland-domiciled UCITS
Fund Details
| Inception | 28 February 2022 |
| Total Net Assets | $44776475.04 Million |
| Portfolio Manager | Dr. Eric S. Meyer, CFA |
| Portfolio Manager | William Van de Water |
Related Resources
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Key Facts About the Fund
Investment Research Process
Investment Strategy Execution
Successful execution of the investment strategy requires expertise in the following areas, which we believe our investment team possesses:
Key Characteristics
Screening
Investment team actively searches broker lists and other screens to identify bonds with pricing anomalies after considering all the bond’s attributes.
Fundamental Review
Once an atypical bond price is identified, the investment team reads through the PSA and prospectus to determine if something is causing the pricing anomaly. Cash flows and other assumptions are modeled in Bloomberg as part of the fundamental analysis.
Investing & Trading
Investment team actively searches broker lists and other screens to identify bonds with pricing anomalies after considering all the bond’s attributes.
Active Strategy
The portfolio managers in consultation with the investment committee spearhead active strategy efforts, including reaching out to trustees and servicers to correct issues with bonds.
Portfolio Manager Biographies
Portfolio Manager
Dr. Eric S. Meyer, CFA
Portfolio Manager
William Van de Water
Portfolio Manager
Dr. David Jelinek
Performance As of 31-12-2023
This chart shows the Fund’s annualized returns as a percentage gain or loss for the following timeframes. This data is only refreshed annually. Please see the Fact Sheet in Related Resources for updated performance information.
- Share Class Inception: 10-08-2023
- Annualized Total Returns as of
- Calendar Year Total Returns as of
- Performance Notes: Performance reported is for the Founder USD share class combined with the Institutional USD share class. Performance shown prior to 10 August 2023 was that of the Founder USD share class. The investment management team has remained in place.
Past performance does not predict future returns. Markets can develop differently in the future. It can help you assess how the fund has been managed in the past.
The value of your investment and any income on it may go down as well as up, and may vary. Income may fluctuate in accordance with market conditions and taxation arrangements. Changes in exchange rates may have an adverse effect on the value, price or income of an investment. An investment in shares of any sub-fund of the ICAV should only be made by persons who can sustain a loss on their investment. Any such investment should not constitute a substantial portion of an investment portfolio and may not be appropriate for all investors
Performance Scenarios
Performance Scenario returns are not actual returns, but rather hypothetical simulations produced by using statistical calculations on historical return data.
Share Class: Institutional USD Accumulating
Recommended Holding Period: 6 Years
Example Investment: $10,000
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What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted.
The unfavorable, moderate, and favorable scenarios shown are illustrations using the worst, average, and best performance of the product and a suitable proxy over the last 11 years. Markets could develop very differently in the future.
The stress scenario shows what you might get back in extreme market circumstances.
The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back.
Related Resources
Risks
Market Risk: The risk that the market will go down in value, with the possibility that such changes will be sharp and unpredictable.
Currency Risk: The Fund may attempt to use FDIs to hedge against currency movements, however there is no guarantee that any attempts at hedging will be successful.
Operational Risk (including safekeeping of assets): The Fund and its assets may experience material losses as a result of technology/system failures, human error, policy breaches, and/or incorrect valuation of units. Social, political and economic developments and laws differ between regions.
Derivatives Risk: The Fund may invest in Financial Derivative Instruments (“FDIs”) to hedge against risk and/or for efficient portfolio management. There is no guarantee that the Fund’s use of FDIs for either purpose will be successful. FDIs are subject to counterparty risk (including potential loss of instruments) and are highly sensitive to underlying price movements, interest rates and market volatility and therefore come with a greater risk.
Credit Risk: The Fund may be adversely affected if the issuer of a debt instrument fails to meet its repayment obligations. Corporate debt may be subject to credit rating downgrades which may result in the Fund experiencing losses. Sovereign debt is subject to the risk of the governmental entity being unable to meet principal and interest payments. By purchasing debt instruments, the Fund will assume this interest risk. Non-Investment grade investments have greater price volatility, loss of principal and interest, default and liquidity risks than higher rated securities.
Concentration Risk: The Fund’s portfolio will be highly concentrated in the real estate sector of the U.S. Such concentration may increase the losses suffered by the Fund or reduce its ability to hedge its exposure and to dispose of depreciating assets. The lack of diversification across the Fund’s portfolio may increase the losses suffered by the Fund if the real estate sector were to suffer a downturn.
Interest Rate Risk: Fixed income securities, including the prices of securities held by the Fund, will decline over short or long periods of time due to rising interest rates. Fixed income securities with longer maturities tend to be more sensitive to interest rates than fixed income securities with shorter maturities.
Liquidity Risk: The Fund may invest in securities which may, due to negative market conditions, become difficult to sell or may need to be sold at an unfavourable price. This may affect the overall value of the Fund.
This is a marketing communication. Please refer to the prospectus of the UCITS and to the KIID before making any final investment decisions. This is not a contractually binding document. The summary of investor rights can be found here. For the avoidance of doubt, if you make a decision to invest, you will be buying shares in the Fund and will not be investing directly in the underlying assets of the Fund. The on-going charges are the fees the fund charges to investors to cover the costs of running the Fund. Additional costs, including transaction fees, will also be incurred. These costs are paid out by the Fund, which will impact on the overall return of the Fund.