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NYLIM GF US High Yield Corporate Bonds

Marketing Communication. Please refer to the prospectus of the fund and to the key investor information document before making any investment decision. The documents can be obtained free of charge.

  • ISIN
NAV - 29 FEB 2024
USD 149.42
AUM - 29 FEB 2024
USD 123,322,494.19
31 JAN 2024
EAA Fund Other Bond
Morningstar Rating

Important information

© 2022 Morningstar. All Rights Reserved. The information contained here: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For more detailed information about the Morningstar Rating, including its methodology, please go to:

About this fund

Candriam GF US High Yield Corporate Bonds (a sub-fund of the Candriam GF fund, hereafter "the fund") provides investors with a flexible exposure to the US High Yield bonds market, in order to generate a high level of income over a recommended investment horizon of 3 years. The portfolio is invested primarily in a diversified range of USD denominated bonds, issued by corporate and financial companies, rated below BBB- or equivalent by at least one independent rating agency at the time of acquisition. In adverse market conditions, the fund flexible investment approach allows to hold without limit investment-grade rated bonds, including US government securities or other high quality money market instruments. The fund may use foreign exchange, interest rate, credit or volatility derivatives for efficient portfolio management purposes (hedging and/or exposure). The investment horizon is 3 years. The fund is managed actively, with reference to the index mentioned on the section "characteristics". For further information about this index and its use, please consult the fund’s key investor information document (KIID).

Principal assets traded:
Bonds, other debt securities and money market instruments denominated in USD and issued by private sector issuers rated below BBB- from one of the rating agencies at the time of acquisition, or unrated but considered of comparable quality (i.e. issuers considered as highly risky).

Investment strategy:
The fund seeks maximum current income through investment in a diversified portfolio of high-yield debt securities and to outperform the benchmark.
The Fund seeks to identify investment opportunities by analyzing individual companies and evaluating each company's competitive position, financial condition and business prospects. In times of unusual or adverse market, economic or political conditions, the sub-fund may temporarily invest mainly or entirely in investment grade debt securities and other high quality money market instruments.
The Fund does not have a sustainable investment objective and does not specifically promote environmental and/or social characteristics.
The fund may use derivative products both for investment and hedging purposes (hedging against unfavourable future financial events).

Benchmark: ICE BofA US High Yield Constrained Index (Total Return).
The fund is actively managed and the investment approach implies a reference to a benchmark.
Benchmark definition: The index measures the performance of USD-denominated corporate bonds below investment grade issued in the US domestic market with issuer exposure capped at 2%.
Use of the benchmark:
- as investment universe. In general, the majority of the issuers of the fund’s financial instruments are part of the benchmark. This said, investments outside this benchmark are admitted;
- in the determination of risk levels / parameters ;
- for performance comparison.
Deviation level of the portfolio composition from the benchmark:
The fund being managed actively, its objective is not to invest in all constituents of the benchmark, nor to invest to the same extent in the constituents of the benchmark. Under normal market conditions, the tracking error of the fund will be moderate to important this is comprised between 0.75% and 3%.
This measure is an estimation of the deviation of the fund’s performance compared to the performance of the benchmark. The more the tracking error is important, the more deviations compared to the benchmark are important. The effective tracking error depends notably on the market conditions (volatility and correlations between financial instruments) and can deviate from the expected tracking error.

NAV & Performances

Historical values graph



NYLIM GF US High Yield Corporate Bonds R - Cap - USD

This graph represents the synthetic net asset value of the fund. It is provided for information and illustrative purposes only. The synthetic net asset value is obtained by a recalculation of the values of the fund’s assets by leveling out the effect of securities transactions (split, coupon, dividend distribution...) in order to reflect the real performance of the fund share or unit. Data may be rounded for convenience. Data expressed in a currency other than that of the investor's country of residence is subject to exchange rate fluctuations, with a positive or negative impact. Gross performance may be impacted by commissions, fees and other expenses.


Past performance is not a reliable indicator of future performances. Markets could develop very differently in the future.
It can help you assess how the fund has been managed in the past.

Actuarial Yield

  1 year 3 years 5 years
Share class 8.20 % 2.25 % 4.48 %
Benchmark 9.23 % 1.89 % 4.26 %
Difference -1.02 % 0.36 % 0.22 %

Annual return over the last years (%)

This chart shows the fund’s performance as the percentage loss or gain per year over the last 8 years. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.
The index composition may change over time. The performance reported may therefore differ from the performance of the relevant index before its change. Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation. Performances expressed in a currency other than that of the investor's country of residence are subject to exchange rate fluctuations, with a negative or positive impact on gains. If the present document refers to a specific tax treatment, such information depends on the individual situation of each investor and may change. If no performance is given for a year following the year of creation, this will be because there is not enough data to provide investors with a reliable indication of this performance. "

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Share class 14.70 % 6.34 % -1.75 % 13.46 % 6.20 % 4.86 % -8.26 % 11.45 %
Benchmark 18.39 % 6.92 % -2.25 % 14.41 % 6.07 % 5.35 % -11.21 % 13.46 %
Difference -3.69 % -0.58 % 0.50 % -0.95 % 0.12 % -0.49 % 2.95 % -2.01 %

Excluding fees/taxes: taxes are not part of the performance calculation

Additional information

The returns listed above are provided on the basis of the Net Asset Value (NAV), net of commissions and reinvested income. All management fees and commissions are included in the calculation of past performance except for any entry and exit charges. Taxes are not included in the calculation of returns. The value or price converted into euros may be reduced or increased depending on fluctuations in the exchange rate. The fund is not a guaranteed investment. The NAVs are net of fees and are provided by the accounting department and the benchmark by the official providers.

Market developments (currency conversion, coupon, split, …) have an influence on the chart. This graph is provided for information purposes only and does not precisely illustrate the evolution of the fund's net assets. Data may be rounded for convenience. Data expressed in a currency other than that of the investor's country of residence is subject to exchange rate fluctuations, with a positive or negative impact. Gross performance may be impacted by commissions, fees and other expenses


Fund Characteristics

Fund name
NYLIM GF US High Yield Corporate Bonds
ICE BofA US High Yield Constrained Index (Total Return)
Candriam GF
Legal Form
Sub-fund of a SICAV under Luxembourg law
Fund type
Creation Date
Term of the fund
The fund has no limited term
Domicile Country
Management Company, having its registered office in Luxembourg
CANDRIAM, management Company having its registered office in Luxembourg.
Delegated Management Company
MacKay Shields LLC
Depository Bank
CACEIS Bank, Luxembourg Branch
Transfer Agent
CACEIS Bank, Luxembourg Branch
Recommended investment horizon
3 years
Swing Pricing System
Swing Pricing Description
Swing Pricing is a mechanism by which the net asset value is adjusted upwards (or downwards) if the change in liabilities is positive (or negative) in such a way as to reduce for existing investors the portfolio restructuring costs linked to subscription/ redemption movements in the fund. On valuation days where the difference between the amount of subscriptions and the amount of redemptions of a sub-fund (i.e. net transactions) exceeds a threshold set beforehand by the Board of Directors, the latter shall be entitled to:
- value the net asset value by adding to the assets (in the case of net subscriptions) or deducting from assets (at net redemptions) a fixed percentage of the fees corresponding to market practices and reflecting the fees and/or conditions of liquidity when buying or selling securities; - value the securities portfolio on the basis of bid or ask prices;
- assess the net asset value by setting a level of spreads representative of the relevant market;
- The dilution mechanism must not exceed 2% of the net asset value, except in exceptional circumstances, as in the event of a sharp decrease in liquidity, which would then be detailed for the sub-fund concerned in the annual (semi-) annual report of the SICAV.

Tax, Charges & Fees

Management fees (max)
0.70 %
0.00 %
0.00 %
Ongoing charges Date
Ongoing charges
0.48 %


R - Cap
ICE BofA US High Yield Constrained Index (Total Return)
Bloomberg Ticker
Morningstar Ticker
First NAV Date
Marketing Authorisation
Austria; Belgium; Denmark; Finland; France; Germany; Italy; Luxembourg; Netherlands; Norway; Spain; Sweden; Switzerland; United Kingdom


NAV Date
NAV Calculation Day
Frequency valuation
Subscription Cut off
D 12:00
Redemption Cut off
D 12:00

The corresponding time zone is the one associated with the fund's domicile.


Lower riskHigher risk
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Potentially lower return Potentially higher return
SRI Date
SRI Value
The summary risk indicator ("SRI") is an indicator with a rating ranging from 1 to 7 and corresponds to increasing levels of risk and return. The methodology for calculating this regulatory indicator is available in the KID.
The summary risk indicator ("SRI") is a guide to the level of risk of this product compared to other products.
It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.
Main Risks

Credit risk: It constitutes the risk that an issuer or a counterparty default. This risk includes the risk of changes in credit spreads and default risk. The level of credit risk is usually evaluated by using “ratings” representing a comparative assessment of the credit quality (solvency level) of an issuer, issuer or portfolio. “High Yield” investments present the lowest rating levels and therefore a high credit risk.

Interest rate risk: A change in interest rates, resulting notably from inflation, may cause a risk of losses and reduce the net asset value of the fund.

Liquidity risk: lt occurs when a portfolio position cannot be sold, liquidated or closed at a limited cost and within a sufficiently short time, which jeopardizing the fund's ability to comply at any time with its obligations to redeem the shares of investors at their request.

Risk of loss of capital: Investors are advised that any capital they invest is not guaranteed and that they may therefore not receive back the full amount invested. They may thus suffer a loss.

Sustainability Risk: The sustainability risk refers to any environmental, social or governance event or condition that could affect the performance and / or the reputation of issuers in the portfolio. It may be issuer specific, in line with their activities and practices, but may also be due to external factors.

Other Risks
Concentration risk Conservation risk Counterparty Risk Currency risk Delivery risk Derivative risk Equity Risk ESG Investment Risk Legal risk Operational risk Risk of conflict of interest

Risk and reward indicators 31/1/24

Sharpe Ratio
Tracking error
1.57 %
5.14 %
Average Rating
Average Spread
Credit Sensitivity
Number of Issues
Number of Issuers
Modified Duration to Worst
Net High Yield exposure
87.46 %
Net Investment Grade exposure
7.74 %
Yield to Worst


  • ISIN

Shareholder documents

Annual and semi-annual reports

Factsheets and fund comments

Other important information

This is a marketing communication. Please refer to the prospectus of the funds and to the key information document before making any investment decision. This marketing communication does not constitute an offer to buy or sell financial instruments, nor does it represent an investment recommendation or confirm any kind of transaction, except where expressly agreed. Although Candriam selects carefully the data and sources within this document, errors or omissions cannot be excluded a priori. Candriam cannot be held liable for any direct or indirect losses as a result of the use of this document. The intellectual property rights of Candriam must be respected at all times, contents of this document may not be reproduced without prior written approval.
Warning: Past performance of a given financial instrument or index or an investment service or strategy, or simulations of past performance, or forecasts of future performance does not predict future returns. Gross performances may be impacted by commissions, fees and other expenses. Performances expressed in a currency other than that of the investor's country of residence are subject to exchange rate fluctuations, with a negative or positive impact on gains. If the present document refers to a specific tax treatment, such information depends on the individual situation of each investor and may change.
In respect to money market funds, please be aware that an investment in a fund is different from an investment in deposits and that the investment’s principal is capable of fluctuation. The fund does not rely on external support for guaranteeing its liquidity or stabilizing its NAV per unit or share. The risk of loss of the principal is borne by the investor.
Candriam consistently recommends investors to consult via our website the key information document, prospectus, and all other relevant information prior to investing in one of our funds, including the net asset value (“NAV) of the funds. Investor rights and complaints procedure, are accessible on Candriam’s dedicated regulatory webpages This information is available either in English or in local languages for each country where the fund’s marketing is approved.
According to the applicable laws and regulations, Candriam may decide to terminate the arrangements made for the marketing of a relevant fund at any time.
Information on sustainability-related aspects: the information on sustainability-related aspects contained in this communication are available on Candriam webpage The decision to invest in the promoted product should take into account all the characteristics or objectives of the promoted product as described in its prospectus, or in the information documents which are to be disclosed to investors in accordance with the applicable law.

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