GRAIAN CREDIT OPPORTUNITIES FUND

A UCITS-compliant vehicle for our flagship Credit Opportunities strategy, focused on the global high-yield credit space and the opportunities in the rates market.

CURRENCY

Not all costs are displayed. For further information please refer to prospectus. Data Source: FundPartner Solutions (Europe) S.A.

Graian Credit Opportunities Fund

Fund Performance table

📊 Performance Table — ISIN: LU3209530818

Data Source: FundPartner Solutions (Europe) S.A.
Performance is net of fees. Past performance should not be taken as an indication or guarantee of future performance.

INVESTMENT OBJECTIVE

The Sub-Fund aims to maximise total return by investing primarily in cross-over (BB to BBB) and high yield bonds, while maintaining a balanced risk profile. It invests mainly in a broad range of debt securities—including government, corporate, and convertible bonds—without restrictions on geography, sector, or currency. Up to 30% may be allocated to emerging markets. The Sub-Fund may also invest in distressed debt, contingent convertible bonds, asset- and mortgage-backed securities, and structured products within set limits. For flexibility and risk management, it may hold cash, money market instruments, or funds, and can temporarily allocate up to 100% to these assets in defensive market conditions.

The Sub-Fund is actively managed. The Sub-Fund has no benchmark index and is not managed in reference to a benchmark index.

RISK LEVEL

Lower Risk Higher Risk
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The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.

ORGANIZATIONAL DATA

Fund ManagerGraian Capital Management S.A.
Management CompanyFundPartner Solutions (Europe) S.A.
AuditorsDeloitte Audit Sàrl
Custodian bankPictet & Cie (Europe) AG
Legal StatusUCITS V Luxembourg SICAV
DomicileLuxembourg
NAV calculationDaily
Contact informationinfo@graian.ch

MARKET COMMENTARY

During August, the strategy delivered positive performance despite ongoing geopolitical and market uncertainties. Credit spreads tightened over the month, supporting returns across global credit markets, particularly in the lower-rated segments. Rates volatility remained elevated, driven by geopolitical developments that continue to influence expectations for growth, inflation, and monetary policy. As a result, rates positioning detracted from performance.
From a positioning perspective, the fund maintained a predominant exposure to the BB rating category. Approximately 80% of the portfolio was invested insecurities with maturities between one and five years. Duration remained stable at around 3.8 years, with most exposure concentrated in U.S. rates. Geographical allocation was broadly unchanged, while U.S. dollar-denominated assets continued to represent a significant share of the portfolio, accounting for approximately 65% of total exposure.
Despite elevated uncertainty, particularly around inflation, recent U.S. macroeconomic data continue to point to a resilient economy. Solid labour market indicators have eased recession concerns, while hawkish remarks from the Federal Reserve Chair at Jackson Hole prompted markets to reprice expectations for U.S. monetary policy, with further rate hikes now anticipated. In Europe, the outlook remains more complex. The recent energy shock has had a stronger impact on headline inflation, with the potential for second-round effects on core inflation. At the same time, growth has proven more resilient than expected. Following the ECB’s recent rate hike, markets continue to anticipate further tightening. Overall, the backdrop remains supportive for credit spreads, although rates volatility is likely to persist.

SELECTED ASSET BREAKDOWNS

Ratings Breakdown

Geographical Breakdown

Maturity Breakdown

TOP 10 Holdings

DOWNLOAD AREA

Website for documents:
https://www.fundinfo.com/
https://www.fundsquare.net/

English
Factsheet
PRIIP – Class Z2 USD
Prospectus