Muzinich Global Tactical Credit Fund

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Muzinich Global Tactical Credit Fund Hedged GBP Income H Units

Category Global Flexible Bond - GBP Hedged
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This fund can be held in an Investment ISA, SIPP and Investment Account
Last buy/sell price

£89.73

arrow-down£-0.02 (-0.02%)

Fund Code

MUGHI

BYV1C69

IE00BYV1C692

Prices updated as at 07 Oct 2026
|
Prices in GBP
Investment objective
The Fund seeks to generate consistent attractive returns on a risk-adjusted basis over a three to five year period. The Investment Manager seeks to meet its objective primarily through investments in high yield (i.e. sub-investment grade) corporate bonds and/or investment grade corporate and government bonds issued by US, European and emerging market issuers. The flexible allocation between high yield and investment grade, and among various geographies, will be determined primarily based on a relative value assessment across global credit markets. The Investment Manager will invest at least 51% of the Net Asset Value of the Fund in fixed and/or floating rate corporate and government bonds issued by US, European and emerging market issuers (normally less than 40% of the Net Asset Value of the Fund will be invested in emerging market issuers), which are listed and/or traded on a Recognised Exchange.
Important notice: This product is based overseas and is not subject to UK sustainable investment labelling and disclosure requirements. Please refer to the FCA website which details further information in relation to sustainability disclosure requirements for retail clients.
Important documents: Please ensure that you have read the Key Information Document/Technical Guide or Product Summary document
, Pre-sale Illustrations document & Doing Business with Fidelity document (incorporating the Fidelity Client Terms) and the fund information documents. These can be found within the Charges & documents section.

Portfolio as of 31/08/2026

Asset allocation

Show long & short position

Geographical breakdown

Continent or country allocation (%)

  • Interest rate risk

    Bond %
    Avg credit qualityBB
    Avg wtd coupon5.61
    Modified duration4.41

  • Credit quality breakdown

    Rating% of Bond
    AAA1.61
    AA1.45
    A9.59
    BBB48.56
    BB28.84
    B7.93
    Below B-
    Not Rated2.02

Valuation

Muzinich Global Tactical Credit Fund Hedged GBP Income H Units
Global Flexible Bond - GBP Hedged

-

-
1.05

-

-
0.18

-

-
1.46

-

-
3.18

Growth rate

Muzinich Global Tactical Credit Fund Hedged GBP Income H Units
Global Flexible Bond - GBP Hedged

-

-
18.52%

-

-
0.31%

-

-
-17.41%

Top 10 holdings

1
Corporacion Nacional del Cobre de Chile 6.44%
Sector
-
Country
Chile
% of assets
0.91695
2
Foundry JV Holdco LLC. 5.9%
Sector
-
Country
United States
% of assets
0.77198
3
International Distribution Services Ltd. 7.375%
Sector
-
Country
United Kingdom
% of assets
0.75744
4
DP World Ltd. 6.85%
Sector
-
Country
United Arab Emirates
% of assets
0.7237
5
ING Groep N.V. 4.375%
Sector
-
Country
Netherlands
% of assets
0.70737
6
ABN AMRO Bank N.V. 4.75%
Sector
-
Country
Netherlands
% of assets
0.66799
7
Muzinich EM Mkt Corp Dbt HUSD Acc X
Sector
-
Country
Ireland
% of assets
0.65928
8
Euro Bund Future Sept 26
Sector
-
Country
Germany
% of assets
0.64076
9
ESIC Sukuk Ltd. 5.831%
Sector
-
Country
United Arab Emirates
% of assets
0.63341
10
Pershing Square Holdings, Ltd. 4.25%
Sector
-
Country
United Kingdom
% of assets
0.61591
Assets in top 10 holdings %

7.09%

Total no. of equity holdings

-

Total no. of bond holdings

358.00

Stock sectors

Muzinich Global Tactical Credit Fund Hedged GBP Income H Units
Global Flexible Bond - GBP Hedged

0.00%

Basic materials

-
-

Con cyclical

-
-

Financial svs

-
-

Real estate

-
-

0.00%

Comm services

-
-

Energy

-
-

Industrials

-
-

Technology

-
-

0.00%

Con defensive

-
-

Healthcare

-
-

Utilities

-
-


Important Information

Investment values, and income from investments, can go down as well as up, so you may get back less than you invest. This is not a personal recommendation for a specific investment. If you're not sure which investments are suitable for you, consult Fidelity's advisers or another authorised financial adviser.

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