Investment Objective
Closely track the performance of Bloomberg Barclays US Corporate A3 or Better 9-35 year 1bn 3% Issuer Capped I33872US index.
Fund Characteristic
The Bloomberg Barclays US Corporate A3 or Better 9-35 Year 1bn 3% Issuer Capped Bond Index includes USD-denominated securities issued by US and non-US industrial, utility and financial issuers with an index rating of at least A3 and a minimum amount outstanding between USD750mn and USD3.5bn. The index limits issuer exposure to a maximum of 3% and redistributes the excess market value index-wide on a pro rata basis.
Principal Investment Strategy
For each index, Bloomberg maintains two universes of securities: the Returns (Backward) and the Projected (Forward) Universes. The composition of the Returns Universe is rebalanced at each month-end and represents the fixed set of bonds on which index returns are calculated for the next month. The Projected Universe is a forward-looking projection that changes daily to reflect issues dropping out of and entering the index but is not used for return calculations. On the last business day of the month (the rebalancing date), the composition of the latest Projected Universe becomes the Returns Universe for the following month.
Top Ten Holdings
| No. |
Stock Code |
Stock Name |
Weighting |
| 1 |
US002824BH26 |
ABT 4.9 11/30/46 |
0.55% |
| 2 |
US92826CAF95 |
V 4.3 12/14/45 |
0.55% |
| 3 |
US437076AS19 |
HD 5 7/8 12/16/36 |
0.53% |
| 4 |
US023135BJ40 |
AMZN 4.05 08/22/47 |
0.53% |
| 5 |
US046353AD01 |
AZN 6.45 09/15/37 |
0.52% |
| 6 |
US377372AE71 |
GSK 6 3/8 05/15/38 |
0.51% |
| 7 |
US46647PAL04 |
JPM 3.964 11/15/48 |
0.51% |
| 8 |
US717081CY74 |
PFE 7.2 03/15/39 |
0.51% |
| 9 |
US822582AD40 |
RDSALN 6 3/8 12/15/38 |
0.51% |
| 10 |
US20825CAQ78 |
COP 6 1/2 02/01/39 |
0.50% |
Source: Bloomberg Index Services Limited Data as of 2021.09.30
