Nomura Funds Ireland US High Yield Bond Fund

Overview

The Nomura US High Yield Bond Strategy is managed by Nomura Corporate Research and Asset Management Inc. (“NCRAM”), a Nomura Asset Management affiliate. NCRAM is our analyst-driven investment boutique that specialises in below investment-grade credit. The strategy represents the length and depth of NCRAM’s experience managing high yield assets. NCRAM portfolio managers have utilized the investment philosophy to identify “Strong Horse” companies since 1991, and we believe this level of continuity will continue to drive success through various market conditions. The US High Yield Total Return universe consists primarily of USD-denominated, cash pay corporate bonds predominantly issued by US companies. This strategy has the flexibility to invest across the full credit quality spectrum.

Attractive yields and strong risk-adjusted returns

Tenured team of high yield specialists

NCRAM has specialized in high yield investing since 1991; our experienced investment team has identified opportunities in various market conditions

Disciplined investment approach

Our dedicated team collaborates to select strong, improving credits, seeking to capture extra yield and price return while avoiding credit problems

Competitive long-term performance

Delivering consistent and competitive risk-adjusted returns is our paramount goal; we believe our Strong Horse approach will continue to drive alpha

Our approach

Total return approach driven by credit research to generate alpha in high yield.
NCRAM believes in a “Strong Horse” philosophy where companies can carry their debt load through good and bad times. These companies generally have a positive ability to de-lever their balance sheet by generating strong, positive cash flows that are sustainable.
The creditworthiness of these companies tends to increase over time, as will their credit ratings.
Bottom-up, fundamental research driven process seeks to identify value and avoid credit problems.
Top-down themes are additionally incorporated.

Reasons to invest

“Strong Horse” approach to credit research.
Disciplined investment process – seeking to capture credit market returns while minimizing losses.
Dedicated research – evaluating issuers on financial and sustainability factors and participating directly in investment decisions.
Stability – our four most senior high yield investment professionals have worked together for over 20 years.
Performance – competitive performance on an absolute and risk-adjusted basis.

SFDR* Classification: Article 6.

Potential significant risks

Investment in high yield securities generally entails increased interest rate, credit, liquidity and market risk. Investment in non-investment grade securities may subject the fund to heightened litigation risks and / or prevent their disposal. Investment in securities of distressed entities may involve sudden and erratic price movements and volatility.

_{* EU Sustainable Finance Disclosure Regulation.}

Investment objective

Achieve current yield and capital gains through investment in a diversified portfolio of primarily high yielding US Dollar denominated Debt and Debt-Related Securities. A combination of top down and bottom up analysis is used to identify high yield credits with strong and improving credit fundamentals.

Management team

Stephen Kotsen, CFAPortfolio Manager

Range of funds

Nomura Asset Management offers an array of investment strategies, including many within the equity and fixed income asset classes.

View the complete fund range

Rating and awards

Morningstar rating

Morningstar Overall Ratings as at 30-09-2026. Copyright © Morningstar 2026. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied, adapted or distributed; (3) is not warranted to be accurate, complete or timely; and (4) do not constitute advice of any kind, whether investment, tax, legal or otherwise. User is solely responsible for ensuring that it complies with all laws, regulations and restrictions applicable to it. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information, except where such damages or losses cannot be limited or excluded by law in your jurisdiction. Past performance is no guarantee of future results. Morningstar rating based on Nomura Funds Ireland – US High Yield Bond Fund I USD.

Monthly update

See the perspectives of David Crall, CFA, head of the high yield investment boutique, NCRAM.

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Resources

Literature

Nomura Funds Ireland plc is an open-ended investment company with variable capital, incorporated in Ireland on 13th April, 2006 under the Act with registration number 418598. The Fund has been authorised by the Central Bank as an UCITS pursuant to the UCITS Regulations. The Fund is structured as an umbrella fund consisting of different Sub-Funds each comprising one or more Classes. The Fund has segregated liability between each of its Sub-Funds.

Full information on the presented funds, which is relevant for an investment decision, can be found in the fund´s most recent sales prospectus, key information document (PRIIPs KID), key investor information document (UCITS KIID) – as appropriate for your relevant jurisdiction – and annual and semi-annual reports. The UCITS KIIDs are available in English and, for the PRIIPs KIDs, in the official language of the countries in which the fund is registered for distribution. Performance in the past is no guarantee of future success. There can be no guarantee that the fund´s investment objective will actually be achieved.

A summary of investor rights in English and information on collective redress mechanisms are available at https://www.nomura-asset.co.uk/download/funds/how-to-invest/Summary_of_investor_rights.pdf. Nomura Asset Management U.K. Limited may at any time decide to terminate arrangements it may have made for the marketing of units of a fund in a member state other than its home member state.