LU2049825206

Allianz Global High Yield Fund SGD-Hedged (Dist.)(LU2049825206)

Fixed income
High yield
Corporate bond
Global
SGD Cash, SRS
Distributing

Invest with

SGD Cash, SRS

Payout type

Distributing

Risk rating

About this fund

Description

The Fund aims at long-term capital growth by investing in high yield rated debt securities of global bond markets.

Key information

Annual report

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Product Highlight Sheet

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Prospectus

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Factsheet

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Our perspective

Why we think this fund is best-in-class

Product

Invests in a globally diversified portfolio of high-yield corporate bonds, aiming to capture income and capital appreciation. Allocates across three distinct buckets: "Core" (healthy issuers, ~70%), "Growth" (improving issuers, ~30%), and "Deep Value" (mispriced opportunities, ~10%).

People

Led by David Newman, CIO of Global High Yield with over three decades of experience, who has managed the strategy since its inception in 2009, and two other Co-PMs. Supported by a global team of over 20 dedicated credit research analysts who facilitate a culture of open debate and rigorous fundamental analysis.

Performance

Targets attractive risk-adjusted returns through a core philosophy of "winning by not losing," typically resulting in a quality bias within its credit rating allocation. Aims to deliver alpha through bottom-up security selection—focusing on industry allocation and improving credits—and top-down macro allocation across markets and credit quality.

Process

Combines top-down global macro views—assessing growth, inflation, and default cycles—with rigorous bottom-up fundamental credit research. Utilizes a proprietary high-yield quantitative filter to identify companies with positive financial, governance, and momentum characteristics. Integrates a disciplined stop-loss process involving a formal committee to reassess investment theses and cap losses on deteriorating positions.

Cost

Endowus offers retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access.

How it fits in a portfolio

Investors who are interested in gaining active exposure to the global high yield market can consider allocating to this Fund. It could complement other high yield funds well, as generally it maintains a higher quality bias (focusing on "winning by not losing"), an area that balances out the lower-rated (CCC) exposure typical of more aggressive peers. The Fund may provide a diversifying source of income for income-seeking investors who do not already have an allocation to the global high yield market. The Fund, however, is subject to credit and duration risk and can experience heightened volatility in particular during risk-off environments; it is advisable to diversify exposure across asset classes after understanding one's risk tolerance.

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Performance

Returns

NAV

Shows the total return of this distributing fund, which includes dividends paid out.

Total returns

Cumulative

Annualised

All Time

14.00%

YTD

-2.02%

1 month

-2.65%

6 month

-1.61%

1 year

2.19%

3 year

16.52%

5 year

8.72%

As of Mar 2026

Distributions

5.30%

Frequency

Monthly

16 Mar 2026

Yield

5.66%As of Feb 2026

Risk metrics

Max drawdown

-16.25%As of Mar 2026

Volatility

9.09%As of Mar 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	0.3%	0.3%	-2.6%	-	-	-	-	-	-	-	-	-
2025	5.1%	0.8%	0.8%	-0.8%	-0.2%	0.9%	1.4%	0.5%	0.8%	0.4%	-0.1%	0.0%	0.5%
2024	5.8%	0.5%	-0.0%	1.1%	-0.6%	0.9%	0.8%	1.1%	1.6%	0.9%	-0.5%	0.3%	-0.3%
2023	9.1%	2.6%	-0.8%	0.2%	0.5%	-0.9%	0.8%	1.4%	-0.0%	-1.3%	-1.1%	4.3%	3.1%
2022	-10.9%	-2.4%	-1.8%	-0.8%	-3.1%	-0.1%	-6.7%	4.5%	-1.1%	-5.0%	2.8%	2.5%	0.3%
Load more		5 of 8

Top Exposures

Holdings

Regions

Sectors

2 Year Treasury Note Future June 26 (2026-06-30 Maturity)	5.77%
Euro Schatz Future Mar 26 (2026-03-06 Maturity)	5.29%
United States Treasury Bills 0% (2026-07-02 Maturity)	1.50%
Ford Motor Credit Company LLC 7.35% (2030-03-06 Maturity)	1.07%
Telefonica Europe B V 6.135%	1.01%
US Treasury Bond Future June 26 (2026-06-18 Maturity)	0.90%
Infrastrutture Wireless Italiane SpA 3.75% (2030-04-01 Maturity)	0.89%
Intesa Sanpaolo S.p.A. 4.198% (2032-06-01 Maturity)	0.88%
Ball Corporation 3.125% (2031-09-15 Maturity)	0.85%
Davita Inc 4.625% (2030-06-01 Maturity)	0.85%
CVS Health Corp 7% (2055-03-10 Maturity)	0.83%
Wintershall Dea Finance 2 B.V. 6.117%	0.78%
Newmark Group Inc 7.5% (2029-01-12 Maturity)	0.77%
British Telecommunications PLC 8.375% (2083-12-20 Maturity)	0.77%
Kedrion S.p.A. 6.5% (2029-09-01 Maturity)	0.76%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

1.40%0.85% p.a.

Save 39%

Fund facts

ISIN

LU2049825206

Fund house

AllianzGI

Fund size

S$133.2M

As of 17 Apr 2026

Fund inception date

01 Oct 2019

Fund class currency

SGD

Fund share class

Amg H2 SGD

Oldest share class ISIN

LU1480271961

Oldest share inception date

08 Nov 2016

Pricing frequency

Daily

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