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BFT RENDEMENT PLUS 2028 - I (C) ISIN : FR0013222379

BFT RENDEMENT PLUS 2028 - I (C)
I(C) - FR0013222379
Asset class: Fixed Income
YTD
As of 23/09/2026
0.70%
Risk IndicatorThe level of risk of the fund mainly reflects the risk of the market in which the fund is invested and, as the case may be, the leveraging strategy or inverse performance of the index. The capital initially invested does not benefit from any guarantee. The current level of risk does not indicate the future level of risk and may change over time. The lowest risk level is not equal to a risk-free investment.
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The risk indicator assumes you keep the product according to the holding period.
NAV
As of 23/09/2026
€1,217.1841
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 23/09/2026
€204.43M
The objective of BFT Sélection Rendement 2026 is to achieve an annualized net performance higher than the OAT (bond formulated in euros issued by the French State) of 2.10% maturing in 2026, after taking into account maximum fees, over an investment horizon of 2 years and 10 months, i.e. from 01/31/2024, date of implementation of the strategy, until maturity, 12/15/2026. For information, as of December 15, 2023, the actuarial yield rate of the OAT 11/2026 was 2.38%.

The fund's...
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NAVs

NAV from 03/24/2017 to 09/23/2026
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Created with Highcharts 11.4.8BFT RENDEMENT PLUS 2028 - I (C)Jul '17Jan '18Jul '18Jan '19Jul '19Jan '20Jul '20Jan '21Jul '21Jan '22Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '268009001K1.1K1.2K1.3K

Performance

Change in NAV in base 100
FundBFT RENDEMENT PLUS 2028 - I (C) (21.72% over the period)
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Created with Highcharts 11.4.8ABCBFT RENDEMENT PLUS 2028 - I (C)Jul '17Jan '18Jul '18Jan '19Jul '19Jan '20Jul '20Jan '21Jul '21Jan '22Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '268090100110120130
A. During this period, the fund implemented a private bond carry strategy for 2024.B. During this period, the fund implemented a carry strategy for private bonds with a 2026 horizon.C. As of 02/02/2026, the mutual fund has adopted the investment strategy currently being implemented.Performance published and achieved before the date of the change corresponds to a different strategy from the current one.
Change in NAV in base 100Rolling performancesYear-on-year return (365 days)Annual returnsRisk indicatorsPerformances Scenarios
FundBFT RENDEMENT PLUS 2028 - I (C) (21.72% over the period)
Select period
Created with Highcharts 11.4.8ABCBFT RENDEMENT PLUS 2028 - I (C)Jul '17Jan '18Jul '18Jan '19Jul '19Jan '20Jul '20Jan '21Jul '21Jan '22Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '268090100110120130
A. During this period, the fund implemented a private bond carry strategy for 2024.B. During this period, the fund implemented a carry strategy for private bonds with a 2026 horizon.C. As of 02/02/2026, the mutual fund has adopted the investment strategy currently being implemented.Performance published and achieved before the date of the change corresponds to a different strategy from the current one.

Portfolio Analysis

Repartition 08/31/2026
Geographical breakdown (Source: Amundi)
Created with Highcharts 11.4.8Values19.21 %​19.21 %18.54 %​18.54 %17.55 %​17.55 %6.49 %​6.49 %4.02 %​4.02 %3.42 %​3.42 %3.08 %​3.08 %3.08 %​3.08 %3.05 %​3.05 %2.19 %​2.19 %1.66 %​1.66 %1.64 %​1.64 %1.59 %​1.59 %1.47 %​1.47 %1.46 %​1.46 %1.43 %​1.43 %1.00 %​1.00 %0.76 %​0.76 %0.72 %​0.72 %0.72 %​0.72 %0.70 %​0.70 %Portfolio0123456789101112131415161718192021GermanyFranceItalySpainNetherlandsUnited KingdomCzech RepublicRomaniaSwedenJapanSlovakiaBelgiumHungarySwitzerlandDenmarkMexicoPolandIsraelJerseySouth AfricaLuxembourgHighcharts.com

Management commentary

Effective date: 31/08/2026August 2026 was marked by concerns over the evolution of long-term interest rates. The deadlock in negotiations between Iran and the United States, punctuated by sporadic attacks, led to continued volatility in oil prices throughout the month, with Brent crude ending at $89 per barrel. The persistence of high energy prices continued to fuel fears of accelerating inflation and thus weighed on bond markets. In response to this rise in long-term rates, U.S. Treasury Secretary Scott Bessent announced that Treasury purchases of long maturities would be at least doubled for the quarter. Inflation indices published in August, covering the month of July, delivered a mixed message. In the United States, headline inflation (CPI) slowed to 3.4% year-on-year, compared to 3.5% in June, while core inflation fell to 2.5%, its lowest level of the year. In contrast, in the eurozone, inflation accelerated to 2.9% in July, up from 2.8% in June, driven higher by a renewed surge in the energy component (+10.3% year-on-year) linked to developments in oil and gas prices. Core inflation, meanwhile, came in at 2.5%. Business activity surveys remained generally well oriented despite high energy prices. In the eurozone, the composite PMI rose for the third consecutive month, reaching 52.1 in August, its highest level since November, driven by German industry. In the United States, the ISM manufacturing index jumped to 55.6 in July, its highest level since May 2022, while the ISM services index held steady at 54.1. However, the July employment report disappointed, with a loss of 23,000 non-farm jobs and significant downward revisions for previous months, even though the unemployment rate fell to 4.1%, a thirteen-month low, due to a further decline in the participation rate.
 
None of the major central banks held a monetary policy committee meeting in August. The key event of the month from this perspective was the Jackson Hole symposium, where Kevin Warsh was reassuring about the labor market but concerned about the inflation trajectory. For the first time in his term, he provided guidance by stating that the Fed's attention should currently be focused primarily on price stability. In the eurozone, the ECB minutes suggested that a majority of Governing Council members would be prepared to raise key rates in September to contain the effects of rising energy prices.
 
Bond yields generally increased over the month, particularly at the very end of the month after Kevin Warsh's speech. The U.S. 10-year yield ended the month at 4.74%, its highest level since the start of 2025. The German 10-year yield rose sharply, ending the month at 3.30%, its highest level since 2011, driven by expectations of ECB rate hikes. Sovereign spreads in the eurozone widened slightly.
 
Euro credit held up well over the month. In Investment Grade, spreads tightened by 1 bp to 76 bps, generating an outperformance of 7 bps versus sovereigns. However, the 12 bp rise in underlying yields to 3.8% led to a total return of -0.2%. The BBB segment and short maturities outperformed, while financials underperformed industrials (with Automotive and Telecoms leading). French banks also slightly underperformed in a context of widening OAT spreads. In High Yield, spreads tightened by 10 bps to 255 bps, resulting in an outperformance of 43 bps versus sovereigns and a total return of +0.4%. The BB and single-B segments outperformed CCCs. Finally, the primary market resumed in the third week, with a total of €40.8 billion in gross issuance, confirming the market's strong absorption capacity despite seasonally less favorable liquidity.

Characteristics

General data

Inception date
24/03/2017
First Nav Date
24/03/2017
Currency
EUR
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Valuation
Daily
Minimum initial investment
200 share(s)
Minimum additional investment
1 thousandth unit(s)/share(s)

Costs Composition

One-off costs upon entry or exit (Investment EUR 10,000)If you exit after 1 year
Entry costsWe do not charge an entry fee for this product.€0
Exit costsWe do not charge an exit fee for this product, but the person selling you the product may do so.€0.00
Ongoing costs taken each year (Investment EUR 10,000)
Management fees and other administrative or operating costs0.51% of the value of your investment per year. This percentage is based on actual costs over the last year.€50.60
Transaction costs0.41% of the value of your investment per year. This is an estimate of the costs incurred when we buy and sell the underlying investments for the product. The actual amount will vary depending on how much we buy and sell.€40.81
Incidental costs taken under specific conditions (Investment EUR 10,000)
Performance feesThere is no performance fee for this product.€0.00

Codification

ISIN code
FR0013222379
Bloomberg code
BFT24IC FP
Reuters code
LP68415743

Investment Objective

The objective of BFT Sélection Rendement 2026 is to achieve an annualized net performance higher than the OAT (bond formulated in euros issued by the French State) of 2.10% maturing in 2026, after taking into account maximum fees, over an investment horizon of 2 years and 10 months, i.e. from 01/31/2024, date of implementation of the strategy, until maturity, 12/15/2026. For information, as of December 15, 2023, the actuarial yield rate of the OAT 11/2026 was 2.38%.

The fund's strategy is mainly a carry strategy which consists of managing a portfolio of high-yield speculative bonds (rated between BB+ and B- by S&P or deemed equivalent by BFT IM) issued by mainly European issuers.
 

Documents

LanguageDocumentsTypeClosing Date
FR
PDF
01/09/2026
PDF
31/03/2025
PDF
01/09/2026
WORD
30/09/2025
FR
PDF
02/02/2026
PDF
31/08/2026
PDF
31/08/2026
FR
PDF
02/02/2026
This site does not constitute in any way a solicitation or an offer to buy or sell securities. The information it contains is intended to inform the subscriber by supplementing certain financial characteristics of the OPC appearing in the Key Information Document (KID PRIIPs) or in the prospectus. As a result, this information is inevitably partial and is subject to change. The KID PRIIPs or the prospectus must be offered to subscribers prior to subscription, provided upon subscription and made available to the public upon request, as well as the latest financial statements available.
Data relating to past performance does not take into account any entry fees and exit fees on subscriptions and redemptions of units. These fees may impact past performance.
The funds and securities mentioned above are in no way sponsored, recommended or promoted by the sponsor of the reference index or benchmark used. The sponsor of the reference index or benchmark is not legally and legally responsible for the funds, securities, indices or any funds or securities on which these are based.
References of the local representative or paying agent from whom the legal documents are available free of charge: CACEIS Bank France 1-3, place Valhubert 75013 Paris.
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