Morningstar Fund Report  | 17/04/2025Print

Nordea 1 - European High Yield Bond Fund BC GBP

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Nordea 1 - European High Yield Bond Fund BC GBP
Fund-4.2-6.08.83.40.8
+/-Cat-0.5-0.81.01.1-0.8
+/-B’mrk-1.1-0.3-1.10.0-1.1
 
Category: EUR High Yield Bond
Category Benchmark: Morningstar EZN HY Bd GR EUR
Key Stats
NAV
16/04/2025		 GBP 13.93
Day Change 0.21%
Morningstar Category™ EUR High Yield Bond
IA (formerly IMA) Sector -
ISIN LU0841557993
Fund Size (Mil)
16/04/2025		 EUR 2946.01
Share Class Size (Mil)
16/04/2025		 GBP 0.06
Max Initial Charge 3.00%
Ongoing Charge
12/03/2025		  0.94%
Morningstar Research
Analyst Report18/11/2024
Thomas De Fauw, Analyst
Morningstar, Inc

The team behind Nordea 1 - European High Yield Bond is topnotch, even after the recent departure of one of the managers, and its People Pillar rating remains at High. The fund’s cheaper share classes earn a Morningstar Analyst Rating of Bronze,...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People25
Parent23
Process23
Performance
Price
Investment Objective: Nordea 1 - European High Yield Bond Fund BC GBP
To provide shareholders with investment growth in the medium to long term. The fund mainly invests in European high yield bonds and credit default swaps. In actively managing the fund’s portfolio, the management team selects securities that appear to offer superior investment opportunities.
Returns
Trailing Returns (GBP)16/04/2025
YTD2.24
3 Years Annualised4.98
5 Years Annualised3.60
10 Years Annualised4.94
12 Month Yield 0.00
Management
Manager Name
Start Date
Torben Skødeberg
18/01/2002
Sandro Naef
18/01/2002
Inception Date
05/03/2013

Category Benchmark
Fund BenchmarkMorningstar Benchmark
ICE BofA Euran Ccy HY Constnd TR HEURMorningstar EZN HY Bd GR EUR
Portfolio Profile for  Nordea 1 - European High Yield Bond Fund BC GBP31/03/2025
Fixed Income
Effective Maturity3.27
Effective Duration2.42
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock0.000.000.00
Bond97.830.0097.83
Property0.000.000.00
Cash19.6218.311.30
Other0.870.000.87
Growth Of 1000 (GBP) 31/03/2025
Fund:  Nordea 1 - European High Yield Bond Fund BC GBP
Category:  EUR High Yield Bond
Category Index:  Morningstar EZN HY Bd GR EUR
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-1.794.247.17-4.16-5.998.753.380.79
+/- Category1.401.560.32-0.48-0.781.021.09-0.77
+/- Category Index---1.00-1.08-0.26-1.050.00-1.09
% Rank in Category2128486657362796
Trailing Returns (GBP)16/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.21   0.670.62
1 Week0.63   0.04-0.04
1 Month0.59   0.11-0.08
3 Months0.77   -0.61-0.90
6 Months2.84   -0.60-1.05
YTD2.24   -0.43-0.83
1 Year6.58   0.98-0.12
3 Years Annualised4.98   0.17-0.86
5 Years Annualised3.60   -0.19-0.85
10 Years Annualised4.94   0.50-0.17
 
Category: EUR High Yield Bond
Category Index: Morningstar EZN HY Bd GR EUR
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20250.79---
20240.17-0.192.201.18
2023-0.40-0.722.996.79
2022-3.49-10.131.796.48
2021-4.311.860.99-2.64
2020-10.7613.842.273.14
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAbove Average3 star
5-YearAverageAbove Average3 star
10-YearAbove AverageAverage4 star
OverallAbove AverageAbove Average4 star
 
Category :  EUR High Yield BondClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev6.88 %
3-Yr Mean Return3.59 %
 
3-Yr Sharpe Ratio-0.07
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar EZN HY Bd GR EUR  Morningstar EZN HY Bd GR EUR
3-Yr Beta1.061.06
3-Yr Alpha-0.93-0.93
 
Fixed Income Style28/02/2025
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)EUR 3157
Maturity Distribution %
1 to 318.32
3 to 536.81
5 to 721.48
7 to 101.55
10 to 150.00
15 to 200.00
20 to 3018.35
Over 302.40
Effective Maturity3.27
Effective Duration2.42
Credit Quality Breakdown %     %
AAA8.41   BB33.45
AA0.00   B44.21
A0.38   Below B7.15
BBB6.38   Not Rated0.02
 
Category: EUR High Yield Bond
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock0.000.000.00
Bond97.830.0097.83
Property0.000.000.00
Cash19.6218.311.30
Other0.870.000.87
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings0
Total Number of Bond Holdings301
Assets in Top 10 Holdings10.61
NameSectorCountry% of Assets
Virgin Media Vendor Financing Notes I... United Kingdom1.25
Verisure Midholding AB (publ) 5.25%Sweden1.15
Primo Water Holdings Inc 3.875%United States1.15
Lorca Telecom Bondco S.A.U. 4%Spain1.10
Ontex Group NV 3.5%Belgium1.05
TI Automotive Finance PLC 3.75%United States1.05
Flora Food Management BV 6.875%Netherlands1.04
Edge Finco PLC 8.125%United Kingdom1.02
Multiversity S.p.A. 6.865%Italy0.93
Guala Closures S.p.A. 3.25%Italy0.88
 
Increase Decrease New since last portfolio
Category: EUR High Yield Bond
 
Management
Name of CompanyNordea Investment Funds SA
Phone00352 43 39 50 1
Websitewww.nordea.lu
Address562, rue de Neudorf
 Luxembourg   L-2220
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date05/03/2013
Fund Advisor(s)
Nordea Investment Management AB
Fund ManagerTorben Skødeberg
Manager Start Date18/01/2002
Career Start Year2001
 
Biography
Torben co-founded Capital Four in July 2007. He previously worked for Nordea Investment Management, where he had day to day portfolio management responsibilities for some of Nordea’s High Yield / Hedge Fund portfolios and covered several industry sectors as a research analyst. Torben joined Nordea from SEB Asset Management, where he was Head of Risk Management. Prior to SEB, Torben worked at Nordea Group Treasury, where he developed credit risk models. He holds a MS in Mathematics and Economics from Copenhagen University and is a CFA Charterholder.
Fund ManagerSandro Naef
Manager Start Date18/01/2002
Career Start Year1999
 
Biography
Sandro co-founded Capital Four in July 2007. He previously worked for Nordea Investment Management, where he was responsible for Nordea’s High Yield business (which he initiated in 1999) and Alternative Fixed Income Investments. He joined Nordea in 1999 from Credit Suisse. During his tenure with Credit Suisse he held positions in New York (f/k/a BEA Associates), London and Zürich in various roles in High Yield, Fixed Income and Corporate Finance. He holds an MBA in Finance from Carnegie Mellon University and a BS in Computer Science from ITR Rapperswil.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge3.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.60%
Ongoing Charge0.94%
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes