As of November 3, 2021, Ellipsis High Yield Fund will change its benchmark and will use the ICE BofAML BB-B Euro Non-Financial High Yield Constrained index instead of the index of the same provider but focused on the BB segment.

This fund offers active management of our strongest convictions in high-yield bonds (called "high yield", excluding financials), denominated in euros and issued by companies from OECD, G20 or European Economic Area member countries. The fund offers a global geographic exposure (not only European) without currency risk. Currency-hedged units are available.

"This new benchmark, which is broader because it is positioned in the BB and B segments, seems to us to be more representative of the investment zone in which the fund is currently and historically managed. This change of reference indicator seems to us to be consistent with the process in place. It should also allow us to offer a more diversified selection to seek to generate alpha within a pure picking fund, without 'distorting' our current management style," adds Michael Longeard, manager of Ellipsis High Yield Fund since 2012.

To find out more, see the letter to shareholders opposite and the new regulatory documentation available from 03/11/2021 on the web sheet.

The CityWire ranking: High Yield EUR: the 20 best managers over 5 years, Michael Longeard, credit analyst manager, is part of this ranking thanks to his performance on the Ellipsis High Yield Fund.

To see the ranking, you must first register (email and password). Click below and register on Citywire.fr