- The Fund’s investment in debt securities may be affected by changes in interest rates, credit ratings, and fluctuation in exchange rates of currencies in which these investments are denominated. Investment in bonds issued or guaranteed by governments may involve political, economic, default, or other risks.
- The Fund may invest in emerging market securities and may be subject to additional risks arising from factors such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a high degree of volatility.
- If the Fund invests in debt securities which are below investment grade or unrated, including high yield bonds, it may, as a result, be subject to liquidity, volatility, default and counterparty risk.
- While the Fund uses derivative instruments in a prudent manner and only for hedging and/or efficient portfolio management purposes, in an adverse situation, derivative instruments may expose the Fund to a risk of significant loss.
- The Fund may at its discretion pay dividends out of and/or effectively out of capital. This amounts to a return of part of an investor’s original investment or distribution of capital gains. This may result in an immediate reduction in the net asset value per share.
- The currency hedging process used for currency hedged share classes may not give a precise hedge; there is no guarantee that hedging will be totally successful.
- Investors should not make any investment decision solely based on this document.
KEY BENEFITS
A global bond fund that seeks to deliver consistent high income
Capital Group Global High Income Opportunities (LUX) (GHIO) invests broadly across the higher yielding universe to construct a diverse portfolio built on high-conviction ideas, seeking to deliver a consistent high level of income over the long term.
High income across market cycles
The fund has a long track record of high portfolio yield1: 7% average over the last 10 years.
Diversification across high yield and emerging markets bonds
The fund seeks to capture returns from different sources across market cycles.
Potential for equity-like return with lower volatility
High yield bonds can offer resilience in market downturns, and growth in emerging markets is outpacing that in developed markets.
WHY INVEST
GHIO seeks to deliver diversified income
GHIO's investment team seeks to deliver a consistent high level of income over the long term by investing broadly across the higher yielding universe.
The experience to deliver
The investment team behind this fund
Luis Freitas De Oliveira
Portfolio Manager
Geneva office
Years of CG Experience: 32
David Daigle
Fixed Income Portfolio Manager
New York office
Years of CG Experience: 31
Kirstie Spence
Fixed Income Portfolio Manager
London office
Years of CG Experience: 30
Shannon Ward
Fixed Income Portfolio Manager
Los Angeles
Years of CG Experience: 9
Research Portfolio
Research analysts are allocated part of the fund assets to manage
ESG FOCUS
ESG characteristics
ESG is woven into our investment process through three tightly integrated components: investment frameworks, monitoring and engagement. The fund also applies ESG and norms-based screens and has a carbon target.2
For more information on our approach, to ESG please see ESG at Capital Group.
Screens
The fund excludes issuers within certain sectors, as well as those that violate UN Global Compact principles.
Carbon target
The fund’s carbon footprint is also monitored and managed to be lower than its reference Index.3
The fund has adopted Sustainable Finance Disclosure Regulation (SFDR) article 8 requirements. The SFDR classification is related to the EU’s regulation and is not equivalent to approval or recognition as an ESG fund by regulators in Asia Pacific.
WHY CAPITAL GROUP
A leader in global investing
For more than 90 years, we’ve been searching the world for long-term opportunities, making Capital one of the oldest global investors. We have also grown to become one of the world’s largest active fixed income fund managers.
Global investing credentials
*Assets under management by Capital Fixed Income Investors. Data as of 31 December 2025
High conviction investments. Diverse perspectives.
The Capital SystemTM combines independent, high-conviction decision-making with the diversity that comes from multiple perspectives.
We believe ESG is key to successful investing. So we consider environmental, social and governance issues before we invest.
Explore insights to help you navigate today's market
Find out more about what this fund has to offer
To find out more, talk to your financial adviser, or visit our How To Subscribe page.
Fund results in USD (B share class) (%)
| 2021 | 2022 | 2023 | 2024 | 2025 | YTD | Lifetime (p.a.) |
| Fund4 | 0.1 | -12.9 | 10.8 | 3.8 | 10.6 | 0.9 | 6.2 |
| Index5 | 0.6 | -12.4 | 12.3 | 5.5 | 11.7 | 0.9 | 6.7 |
For up-to-date results information, please visit our Fund Centre page at [https://www.capitalgroup.com/individual-investors/hk/en/investments/fund-centre.LU0110450813.html]
Data as at 31 January 2026. Fund inception: 7 May 1999.
Past results are not a guarantee of future results.
The information in relation to the index is provided for context and illustration only. The fund is actively managed. It is not managed in reference to a benchmark.
1. Portfolio yield is total income earned by the fund, net of withholding taxes and before management fees and expenses, divided by average net assets over the past 12 months. 10-year average annual income yield is to 31 December 2025. Dividend amounts received by investors will vary by share class and is affected by fees and expenses, as well as the distribution policy.
2. Carbon footprint is based on weighted average carbon intensity.
3. The index reflects 50% Bloomberg US High Yield 2% Issuer Cap Index, 20% JPMorgan EMBI Global, 20% JPMorgan GBI-EM Global Diversified and 10% JPMorgan CEMBI Broad Diversified Index.
4. Fund results are in USD, shown after management fees and expenses, for the B share class as a representative share class and are calculated as the increase or decrease in net asset value of the fund over the relevant period, NAV-to-NAV, with dividends reinvested. Please visit capitalgroup.com/hk/en for further details.
5. Index: 50% Bloomberg US Corporate High Yield 2% Issuer Capped Total Return, 20% JPMorgan EMBI Global Total Return, 20% JPM GBI-EM Global Diversified Total Return and 10% JPM CEMBI Broad Diversified Total Return. For full details of the index history of the fund please visit the fund centre.
Data as at 31 December 2025 and attributed to Capital Group, unless otherwise specified.
Glossary
Emerging market bonds: Bonds issued by countries with developing economies as well as by corporations within those nations.
High yield bond: One with a lower credit rating than an investment grade bond. High yield bonds typically offer a higher rate of interest because of a greater risk of default.
Net asset value (NAV): The month-end NAV is an additional, information-only NAV of the fund. It is calculated on the last week-day of the month, using the same methodology as used by indices, to enable investors to carry out comparisons with relevant benchmarks. No dealing activity can be based on such net asset value per share.
Risk factors you should consider before investing:
- This material is not intended to provide investment advice or be considered a personal recommendation.
- The value of investments and income from them can go down as well as up and you may lose some or all of your initial investment.
- Past results are not a guarantee of future results.
- If the currency in which you invest strengthens against the currency in which the underlying investments of the fund are made, the value of your investment will decrease. Currency hedging seeks to limit this, but there is no guarantee that hedging will be totally successful.
- Some portfolios may invest in financial derivative instruments for investment purposes, hedging and/or efficient portfolio management.
- The Prospectus - together with locally required offering documentation - sets out risks which, depending on the fund, may include risks associated with investing in fixed income, derivatives, emerging markets and/or high-yield securities; emerging markets are volatile and may suffer from liquidity problems.
Capital Group manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organisation; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.
This material has not been reviewed by the Securities and Futures Commission of Hong Kong.