Update: iShares Core UK Gilts UCITS ETF

Dieser ETF auf britische Staatsanleihen kann als taktische Wette nach dem Scheitern der schottischen Unabhängigkeits-Initiative gefahren werden - in jedem Fall ist die Rendite-Differenz zwischen Gilts und Bundesanleihen beachtlich.

Jose Garcia-Zarate 19.09.2014

Rolle im Portfolio

The iShares Core UK Gilts UCITS ETF offers investors exposure to the performance of the UK government conventional bond market. In our view, this ETF would work best as a core element of a UK-centric portfolio, offering the necessary counterweight to UK equity fund exposure, particularly useful in times of an economic downturn. In most cases fixed income holdings provide a steady and fairly reliable revenue stream via coupon and redemption payments. Those attracted by this latter property should be advised that this iShares ETF distributes dividends on a semi-annual basis.

This ETF covers the whole maturity spectrum of the UK government conventional bond yield curve, with around 35% exposure to gilts with maturity over 15 years, fitting with the long duration nature of the UK government conventional bond universe. Exposure to the entire maturity spectrum makes this ETF best suited to shield the overall investment portfolio against negative performance effects arising from market shifts across the yield curve, whether near-term tactical or long-term strategic in nature.             

This ETF can also work tactically, either as a complement or a hedging tool for investment portfolios with exposure to other geographical areas within the fixed income universe, and particularly so the Eurozone. However, foreign exchange considerations would need to be taken into account, particularly so if the ETF is to be used as part of a hedging strategy.

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Über den Autor

Jose Garcia-Zarate  is an ETF analyst with Morningstar UK.

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