Funds Reports
Atlantic Bond Fund: April 2026 Report
Welcome to the Atlantic Bond Fund April 2026 Report, available for download below.
Hi all,
April brought a constructive recovery for fixed-income markets following the sharp repricing observed in March. Easing geopolitical tensions, stabilising yields, narrow spreads, and improving investor sentiment supported a rebound across credit markets, particularly within investment-grade segments. Against this backdrop, the Fund delivered a positive +0.73% return during the month, driven primarily by Portuguese corporate bonds and international credit exposures.
April Highlights
Performance: Fund +0.73%, supported by Portuguese credit (+48 bps) and international debt exposures.
Portuguese Corporate Bonds: Main contributor; Fidelidade (+11 bps), REN (+10 bps) and BCP (+7 bps) led gains.
Euro Debt: Added +13 bps, mainly driven by EUR High Yield exposure (+11 bps).
International Debt: Strong recovery; AT1 allocation +19 bps, EM debt and GBP credit also contributed positively.
Gold: Slight detractor (-9 bps) because easing tensions did not favor Gold this time around.
Portfolio Activity: Added Banco CTT Senior Preferred Notes, increasing diversification and portfolio carry.
Looking ahead, markets remain highly sensitive to energy prices and central-bank expectations. While easing geopolitical tensions have improved sentiment, elevated inflation pressures continue to support a cautious “higher-for-longer” backdrop. The Fund remains focused on disciplined duration management, high-quality credit selection, and stable income generation, while maintaining gold as a strategic diversifier within the portfolio.
Best regards,
Nuno Serafim
Month Report ABF - April 2026
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Managing Partner
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Nuno is an experienced financial executive with broad experience in the Asset Management industry, being board member of IMGA, where he served as Chief investment Officer, overseeing €3.4B of AuM before he founded 3 Comma Capital, together with Robert and Patrick Hable in 2022.
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