End of easy money
After years of low inflation and interest rates, both are now higher. When combined with increased global tension this is causing greater market volatility.
Old strategies are outdated
Bonds no longer offer a safety net for equities…in 3 of the last 10 years stocks and bonds both lost value**. The traditional 60/40 investment model is now less reliable.
Time for new approaches
Investors need flexible, liquid strategies that aim to provide consistent returns, no matter what's happening in the market.
Introducing DNCA Invest - Alpha Bonds
A truly flexible global bond fund that aims to deliver positive returns, regardless of market conditions. Its seven sources of potential alpha, and modified duration of -3 to +7, allow it to adapt quickly to changing markets, aiming to steadily compound investments over time.
Portfolio Manager François Collet, explains the strategies that underpin DNCA Invest - Alpha Bonds (“the Fund”).
Reasons to invest
Largest fund in the Morningstar Global Flexible Bond Category^
Average credit quality A+, 80% of the fund in OECD government bonds3
3 Source: DNCA, as of 30 June 2025. Any reference to a ranking, a rating or an award provides no guarantee for future performance results and is not constant over time.
Around 1/3 lower volatility than peers since inception4
|
|
|
|
|
|
|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
|
|
|
4 Source: Morningstar, October 1, 2018 - July 31, 2025, compared to peer group Global Flexible Bond–USD Hedge. Volatility is calculated as the standard deviation of monthly returns. As at 31 July 2025.
The portfolio management team
The investment team has more than 80 combined years of investment management experience and three of the portfolio managers have been working together since 20115.
François Collet
CIO - Portfolio manager
DNCA Investments
Pascal Gilbert
Portfolio Manager
DNCA
Fabien Georges
Portfolio manager
DNCA
Thibault Chrapaty
Portfolio manager
DNCA Investments
Paul Lentz
Bond Analyst
DNCA Investments
5Past performance of the manager is not necessarily indicative of its future performance.
The firm
DNCA Investments is the investment manager of the Fund and an affiliate of Natixis Investment Managers. Founded in 2000, the firm has built a skilled and experienced management team, focused on five areas of expertise: equities, fixed income, absolute return, multi-asset & SRI (Socially Responsible Investment).
Paris
France
170+
Employees
63
Portfolio Managers and Analysts
16
Languages
EUR 44 billion
Assets Under Management
Source: DNCA, as at 30/06/2025
Introducing DNCA's history, values and primary objectives, with CEO Eric Franc.
How does the fund work?
Learn more about the fund and what it offers investors.
Interested in finding out more?
Discuss with your financial advisor or connect with us.
Related insights
Fixed income
2022 was a terrible year for fixed income, but not for DNCA Alpha Bonds
A look at how DNCA Alpha Bonds avoided fixed income’s year of horror.
Fixed income
Keeping up with the old normal
We asked DNCA, Loomis Sayles, and Ostrum AM for their views on how investors should be thinking about fixed income.
Fixed income
How DNCA turned a black swan around
The DNCA Alpha Bonds strategy fell sharply at the start of Covid, but they managed to swiftly turn performance around.
Fixed income
Complex US picture helps the case for European bonds
DNCA’s Paul Lentz discusses inflation, de-dollerisation and the attraction of European bonds.
Fixed income
Why inflation and credit quality remain key concerns
Francois Collet, DNCA’s Deputy Fixed Income CIO, assesses whether investors are out-of-synch with market expectations
Inflation, growth, tariffs: the tug-of-war in 2025
As geopolitical tensions impact growth, key indicators signal potential inflation risks, argues Daniel Claringbull global product manager at DNCA Investments.
*Investment involves risks. Past performance information presented is not indicative of the future performance. Dividends are not guaranteed and may fluctuate. Past dividends declared are not indicative of the future distributions. The Fund may pay dividends out of capital and/or effectively out of capital. Payment of dividends out of capital and/or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any such distributions may result in an immediate reduction of the NAV per share.
**Source: Morningstar, Jan 2015 to Dec 2024.
^Source: Morningstar, EAA fund global flexible bond category based on AUM, reference to I EUR share class as of 30/6/2025.
DNCA Investments is a brand of DNCA Finance.
This webpage is provided by Natixis Investment Managers Singapore Limited (Company Registration No. 199801044D). The Fund has been recognized under the Securities and Futures Act 2001 of Singapore, and Natixis Investment Managers Singapore Limited is appointed as its Singapore Representative and agent for service of process. Past performance of the Fund or managers, and any economic and market trends or forecast, are not necessarily indicative of the future or likely performance of the Fund or the manager. The value of investments and the income accruing, if any, may rise or fall and investors may lose the full amount invested. Investors investing in funds denominated in non-local currency should be aware of the risk of exchange fluctuations that may cause a loss of principal. Investments in the Fund involve risks, which are fully described in the Prospectus. The Fund may use derivatives for hedging and/or investment purposes. The net asset value of the Fund may be subject to volatility as a result of its investment policy and/or use of financial derivative instruments. Investors should consider the Fund’s investment objective, risks, charges, expenses and read the Prospectus and Product Highlights Sheet carefully and discuss with their financial adviser to determine if the investment is appropriate for them before investing. However, if an investor chooses not to seek advice from a financial adviser, he/she should consider whether the product is suitable for him/her. The Prospectus is available for collection from Natixis Investment Managers Singapore Limited at 5 Shenton Way, #22-05/06, UIC Building, Singapore 068808 or any appointed Singapore distributor.
This webpage is published for information and general circulation only and it does not constitute an offer to anyone or a solicitation by anyone to subscribe for shares of the Fund as it does not have any regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this webpage. Nothing in the webpage should be construed as advice or a recommendation to buy or sell shares. Natixis Investment Managers may decide to terminate its marketing arrangements for this fund in accordance with the relevant legislation. This webpage has not been reviewed by the Monetary Authority of Singapore.