Triodos Sustainable Bond Fund
During 2015, the total net assets of Triodos Sustainable Bond Fund remained stable at EUR 352.6 million. During this period, the sub-fund (R-Dis) achieved a return of -1.3% (including reinvestment of dividends), while the benchmark rose 0.7%.
The underperformance of the sub-fund relative to the benchmark was mainly due to its overweight position in corporate bonds, the underweight position in Italian and Spanish sovereign bonds and the interest rate effect.
Evolution of returns Triodos Sustainable Bond Fund
* Since 2010 the fund also invests in sovereign bonds in order to improve the bond portfolio’s diversification and liquidity.
** Figures given for the R-share classes are the historical returns of Triodos Meerwaardefonds N.V., which merged into Triodos SICAV I on June 28, 2010.
*** Triodos Sustainable Bond Fund aims to achieve returns that are in line with the market. The sub-fund compares its return and the sustainability scores (environment, social and governance) of the companies in which it invests with the iBoxx Euro Non-Sovereigns Index (60%) and the iBoxx Euro Sovereigns Index (40%). These are generally accepted indices for (non-sustainable) worldwide diversified bond funds. The investment policy that is pursued by Triodos Sustainable Bond Fund is not aimed at replicating or outperforming the benchmark in the short term. The sub-fund may deviate from the benchmark because the sub-fund only invests in companies that meet the sub-fund’s strict sustainability criteria. We believe that in the longer term sustainable investments offer more stable and higher returns than non-sustainable investments. We therefore tend to invest in companies on the basis of a long-term investment horizon.