Investment Portfolio

Investment Process¹

Top-down and bottom-up approach with multiple potential alpha sources

Asset Allocation²

Highlights

Traditional Credit

50 - 70% will be invested in high yield bonds, floating rate loans and investment grade corporate bonds

Alternative Credit

30 - 50% will be invested in alternative credit, meaning “special situations”, mezzanine debt, “club” loan transactions and private corporate loans³

Currency Management

A portfolio fully hedged to GBP

Diversification

Diversified across sector, region and quality

Performance & Statistics

Investment 10,000 GBP

Scenarios		1 year	3 years	5 years (recommended holding period)
Stress Scenario	What you might get back after costs	5,710.27	8,686.41	8,337.31
Stress Scenario	Average return each year	-42.90%	-4.59%	-3.57%
Unfavourable Scenario	What you might get back after costs	9,640.19	9,812.79	10,153.92
Unfavourable Scenario	Average return each year	-3.60%	-0.63%	0.31%
Moderate Scenario	What you might get back after costs	10,388.56	11,140.97	11,947.88
Moderate Scenario	Average return each year	3.89%	3.67%	3.62%
Favourable Scenario	What you might get back after costs	11,079.52	12,518.42	13,913.74
Favourable Scenario	Average return each year	10.80%	7.77%	6.83%

Current Investments

PET VET CARE CENTRES

Pet Vet Care Centres is a nationwide veterinary service provider operating over 200 hospitals, based in the U.S.

B.C.A

B.C.A is the number 1 car auction business in the UK and EU. It also owns the ‘We buy any car’ used vehicle buying platform.

Fund Literature

Access key documents library for NBMI including factsheets, holdings, financial reports and corporate governance.

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