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WHY WELLINGTON CREDIT TOTAL RETURN FUND?
DIFFERENTIATED APPROACH
Unconstrained, bottom-up investment approach, combined with a top-down risk assessment framework. A focus on identifying securities with a higher probability of generating outsized returns more frequently.
DYNAMIC ROTATION
The Fund tactically rotates between credit and US Treasuries, owning credit when there is perceived value in doing so, and seeking safety in US Treasuries and cash when valuations appear stretched.
DISTINCTLY SIMPLE
A focused, long-only cash and bond fund seeking long-term total returns through sector and security selection. Our universe is made up of US Treasuries, corporates and select emerging market debt.
Latest Insights from our portfolio managers
InvestorExchange: Tariffs, Treasuries, and taxes — What comes next?
Fixed income portfolio manager Connor Fitzgerald joins host Amar Reganti to discuss the potential effects of tariffs and other fiscal decisions on the bond market.
Credit: the power of flexibility in an uncertain world
Uncertainty in credit markets can create opportunities for investors, provided allocations are flexible enough to benefit. But how can investors balance flexibility with discipline?
Four investment perspectives on Trump’s first 100 days
Four of our experts across fixed income and equity share their asset-class level insights on the first 100 days of the current Trump administration and analyze the implications for investors.
High hopes and low credit spreads
Connor Fitzgerald highlights the implications of tight credit spreads and the importance of flexibility for fixed income managers navigating today's market.
Turning tides for US Treasuries
Uncover the case for US Treasuries in fixed income portfolios against the current market backdrop.
Turning tides for US Treasuries
Uncover the case for US Treasuries in fixed income portfolios against the current market backdrop.
What's current in credit: November 2024
Connor Fitzgerald explores the impact of President Trump’s US election victory on credit markets. Where are the opportunities and risks for credit investors now?
What does Trump's US election win mean for bond investors?
During the week of US election, Paul Skinner interviews Connor Fitzgerald, Fixed Income Portfolio Manager, on the market implications and his portfolio positioning following the presidential election results.
Are bond investors ready for a US industrial revolution?
Portfolio Manager Connor Fitzgerald discusses why bond investors should ready themselves for a potential US industrial revolution and shares his perspective on how to reposition portfolios for such a scenario.
What's current in credit?
In this short video series, Fixed Income Portfolio Manager Connor Fitzgerald takes a look at what's current in credit. Given rather tight credit spread valuations, what is Connor's outlook for the next twelve months and where are the opportunities and risks now?
Four investment perspectives amid a pivotal US election
How can investors reposition portfolios for a pivotal but highly unpredictable US elections? Nick Samouilhan explores potential avenues in conversation with three leading portfolio managers.
Time for credit selection to shine
Fixed income investors continue to seek answers to an era of volatile rates. Large, static exposures to credit markets no longer cut it. Instead, a nimble and dynamic approach is more likely to create resilient and consistent total return outcomes.
Reframing fixed income portfolios: why bond maths makes the difference
It is easy to understand why fixed income investors tend to focus on yields. But investors who focus too much on yield may run the risk of overpaying for income and underestimating the impact of price volatility.
Looking beyond yield: Rethinking the approach of fixed income investing
Investors face a new regime, challenging traditional assumptions about returns and volatility. With central bank interventions impacting credit markets, it’s time to rethink income allocations. Rather than fixating solely on yield, consider a dynamic approach, presented by Connor Fitzgerald.
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Performance: PAST RESULTS AREN'T NECESSARILY INDICATIVE OF FUTURE RESULTS AND AN INVESTMENT CAN LOSE VALUE. Please refer to the Fund Details section under Key Fund Facts for the inception date of the specific share class. Calendar year performance for the inception year of share classes is calculated since inception to calendar year-end. Performance shown is calculated as NAV-to-NAV in the denominated currency and are net of fees and other expenses with dividends reinvested. Periods greater than one year are annualised. For funds/share classes denominated in foreign currencies, US/HK dollar-based investors are exposed to fluctuations in the currency exchange rate. Please note the fund has a swing pricing mechanism in place. If the last business day of the month is not a business day for the Fund, performance is calculated using the last available NAV. This may result in a performance differential between the fund and the index. Source: Fund - Wellington Management.
Charges & Expenses: please refer to the offering documents for details.
DISCLOSURE
This material and its contents may not be reproduced or distributed, in whole or in part, without the express written consent of Wellington Management. This document is intended for information purposes only. It is not an offer or a solicitation by anyone, to subscribe for shares in Wellington Management Funds (Luxembourg) III SICAV (the Fund). Nothing in this document should be interpreted as advice, nor is it a recommendation to buy or sell shares. Investment in the Fund may not be suitable for all investors. Any views expressed are those of the author at the time of writing and are subject to change without notice. Investors should carefully read the Key Facts Statement (KFS), Prospectus, and Hong Kong Covering Document for the Fund and the sub-fund(s) for details, including risk factors, before making an investment decision. Other relevant documents are the annual report (and semi-annual report).
© 2025 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The Overall Morningstar Rating for a fund is derived from a weighted average of the three, five, and ten year (if applicable) ratings, based on risk-adjusted return. Past performance is no guarantee of future results.
Issued by Wellington Management Hong Kong Limited. Investment involves risk. Past performance is not indicative of future performance. This document has not been reviewed by the Securities and Futures Commission of Hong Kong.