GNB bond funds led profitability in 2020

At the top of the ranking is the NB Obligations Europe of GNB Gestão de Ativos. Managed by Vasco Teles, the product registered a return in 2020 of 13,27%. When we relate profitability to risk, the return was 1,14%.


Of the ten most profitable national bond funds in terms of absolute return and in relation to risk, the bond funds of GNB Gestão de Ativos lead, according to data taken from Morningstar on December 31, 2020, announces Novo Banco in communicated.

In terms of profitability, there are three products of GNB Gestão de Ativos (Grupo Novo Banco) highlighted and by risk unit, the podium consists of two products of the asset manager of Grupo Novo Banco.

At the top of ranking the NB Obrigações Europa fund arises, managed by Vasco Teles, which recorded a return in 2020 of 13,27%, “being considered even a fund of excellence that year”, the bank said in a statement. In terms of return per risk unit, the fund gave 1,14%. This indicator measures the relationship between profitability and risk.

The ranking is from Funds People based on raw data from Morningstar. The analysis is also from the Funds People, namely with regard to calculations of relative profitability.

The Sixty Degrees team, in their prospects for 2021, referred to this fund for the new year: “We think that the NB Obrigações Europa fund deserves an allocation within a diversified portfolio, as long as its manager is the current one, as it has been one of the best , in Europe, to understand the dynamics of the European debt market and to translate this knowledge in return ”, says the ranking.

In the metrics under analysis, there is also the NB Euro Bond (in second place). These two products, managed by Vasco Teles, are the only ones that exceed the 10% barrier in terms of absolute profitability and 1% in terms of return per risk unit.

The NB Euro Bond (Lux) is in the Europe Fixed Income category and gave a return of 12,02% and 1,1 in terms of return per risk unit.

In third place comes the NB Subordinated Debt I Euro Inc, also a bond fund (fixed income), which yielded a return in 2020 of 5,78% and 0,44% of return per unit of risk.

These funds stand out in comparison with the panorama of the year for nationally managed bond funds.

Fourth in ranking from Morninstar comes a global bond fund, Atrium Portfolio Sicav High Income A Eur, from Atrium Investimentos. This Global Fixed Income fund gave 3,88% return and 0,26% return per risk unit.

Fifth is the "NSF SICAV EuroBic Obrgcs Glb I Euro H", which has Eurobic as its distributor. It is a global bond fund with a return of 3,57% and a return of 0,39% per risk unit.

Follows on ranking the “IMGA European Public Debt” fund, managed by IM Gestão de Ativos. It is a fund composed of European bonds. This one europe fixed income fund yielded a return of 3,57% and a return of 0,55% per unit of risk.

In seventh, there is a bond fund of Caixa Gestão de Ativos, Caixa Obrigações LP, also of European bonds, which returned 2,88% and 0,69% return per risk unit, when we relate the profitability with the risk.

O ranking, in absolute terms, it presents a return variation in 2020 between about 13% and 2%.

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