Fact sheet: Absalon EM Corporate Debt

Fund information
Fund name
Absalon EM Corporate Debt R EUR
Fund manager company
Universal Investment
Fund type
Offshore Fund
Fund manager
  • Absalon Capital Fondsmæglerselskab A/Ssince 01/10/2015
Fund objective
The investment objective is to outperform its benchmark without compromising preservation of capital and long term positive returns. The sub-fund will use a variety of strategies to achieve this target by investing in corporate debt from Emerging Market Debt issuers including different parts of the capital structure of a company like cash bonds or convertible bonds, taking advantage of the difference in pricing of credit spread between cash bonds and credit default swaps (CDS) or exploiting credit, yield curves and currency movements. The sub-fund may invest up to 100% in High Yield Bonds. The benchmark for the sub-fund is: 100% JPM Corporate EMBI BroadDiversified (EUR) hedged. This benchmark is determined for the subfund by the investment management company and may be changed. The sub-fund does not aim to reproduce the benchmark but aims to realise an absolute performance which is independent of the benchmark. The sub-fund may perform derivative trades in order to hedge positions or to increase its returns. Within this scope, the choice of the individual assets is performed by the investment manager of the sub-fund.
Benchmark
  • JP Morgan Corporate Emerging Markets Bond Index Broad Diversified hedged to EUR
Investment style
Active
Investment method
Fixed Interest
Quick stats
1 Year return
14.4%
1 Year rank in sector
95/200
Sector
FO Fixed Int - Emerging Markets
Yield
-
Fund size
£67m (£55m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
67
Top in this sector
Fund name1 Year
UBS (L)BdSIC-Brazil$53.7%
Pictet Lat Am Lcl Cur Dt43.1%
SEI Emg Mkts Dt37.3%
Aviva Investors Emg Mkts Bd36.6%
Old Mutual Em Mt Dt36.4%
...more in FO Fixed Int - Emerging Markets

Performance snapshot

Holdings snapshot

  • Others42%
    Mexico13.1%
    Brazil12.2%
    Russia6.1%
    South Africa5.8%
  • Corporate Bonds80%
    Financials10%
    Fixed Interest Deposit7.6%
    Fixed Interest2.9%
    Government Bonds0.9%
  • Global Fixed Interest42%
    Mexican Fixed Interest13.1%
    Brazilian Fixed Interest12.2%
    Russian Fixed Interest6.1%
    South African Fixed Interest5.8%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.1%5%11.2%14.4%--
Sector0.4%4.7%8.5%13.1%3.8%13.9%
Rank within sector112 / 21378 / 21032 / 20795 / 200--
Quartile3rd2nd1st2nd
Calendar performance
 YTD - 20162015201420132012
Fund14.4%----
Sector13.2%-7.3%-0.6%-7%14.7%
Rank within sector80 / 205----
Quartile2nd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
-
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
-
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
-
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
-
Price movement
52 week high109.21
52 week low93.08
Current bid price108.82
Current offer price108.82
Current mid price-
Region
1Others41.97%
2Mexico13.1%
3Brazil12.17%
4Russia6.1%
5South Africa5.82%
6Turkey5.37%
7Indonesia5.08%
8UK3.6%
9Norway3.45%
Industry sector
1Corporate Bonds80.04%
2Financials9.95%
3Fixed Interest Deposit7.55%
4Fixed Interest2.89%
5Government Bonds0.93%
6Money Market-0.01%
7Futures-0.06%
8Derivatives-1.28%
Asset type
1Global Fixed Interest41.97%
2Mexican Fixed Interest13.1%
3Brazilian Fixed Interest12.17%
4Russian Fixed Interest6.1%
5South African Fixed Interest5.82%
6Middle East & African Fixed Interest5.37%
7Indonesian Fixed Interest5.08%
8UK Fixed Interest3.6%
9Norwegian Fixed Interest3.45%
Individual holdings
1CESKE DRAHY 0% MTN 31/12/00 EUR1000002.57%
2ZHAIKMUNAI LLP 7.125% BDS 13/11/19 USD1000 144A1.95%
3ANGLOGOLD ASHANTI HLDGS FINANCE PLC 6.5% NTS 15/04/40 USD10001.75%
4DNO ASA 8.75% BDS 18/06/20 USD2000001.75%
5SCF CAPITAL LTD 5.375% BDS 16/06/23 USD2000001.65%
6C10-EUR CAPITAL SPV LTD 6.277% NTS PERP EUR1000 `REGS`1.64%
7VOLCAN COMPANIA MINERA 5.375% NTS 02/02/22 USD2000 REG S1.62%
8EMIRATES NBD PJSC 1.75% BDS 23/03/22 EUR1000001.6%
9TUPY OVERSEAS SA 6.625% BDS 17/07/24 USD1000 144A1.6%
Management
Fund manager group
Universal Investment
Fund manager company
Universal Investment
Fund type
Offshore Fund
Fund objective
The investment objective is to outperform its benchmark without compromising preservation of capital and long term positive returns. The sub-fund will use a variety of strategies to achieve this target by investing in corporate debt from Emerging Market Debt issuers including different parts of the capital structure of a company like cash bonds or convertible bonds, taking advantage of the difference in pricing of credit spread between cash bonds and credit default swaps (CDS) or exploiting credit, yield curves and currency movements. The sub-fund may invest up to 100% in High Yield Bonds. The benchmark for the sub-fund is: 100% JPM Corporate EMBI BroadDiversified (EUR) hedged. This benchmark is determined for the subfund by the investment management company and may be changed. The sub-fund does not aim to reproduce the benchmark but aims to realise an absolute performance which is independent of the benchmark. The sub-fund may perform derivative trades in order to hedge positions or to increase its returns. Within this scope, the choice of the individual assets is performed by the investment manager of the sub-fund.
Benchmark
  • JP Morgan Corporate Emerging Markets Bond Index Broad Diversified hedged to EUR
Investment style
Active
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Absalon Capital Fondsmæglerselskab A/S01/10/2015Absalon Capital ist ein Vermögensverwalter aus Dänemark. Es bietet institutionellen Kunden in Europa professionelles Know-how im Bereich Anlageverwaltung. 2015 haben wir ein etabliertes Kreditteam mit einer soliden, über 10-jähr. Erfahrung in der Verwaltung unbeschränkter Mandate in den Bereichen hochverzinsliche Unternehmensanleihen und Unternehmensanleihen aus Schwellenländern rekrutiert. Absalon Capital gehört zur 1986 gegründeten Gruppe Formuepleje, dem größten unabhängigen Vermögensverwalter Dänemarks.
Compliance
Transparent for Austrian Tax, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Switzerland, Germany, Denmark, Finland, United Kingdom, Italy, Luxembourg, Norway, Offshore, Sweden, Syrian Arab Republic
Absalon EM Corporate Debt I EUR
Initial charge-
Annual charge1.73%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.37%
Bid price11060.37
Offer price11060.37
Mid price-
CurrencyEUR
Price updated27/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFSNU
Absalon EM Corporate Debt R EUR
Initial charge-
Annual charge1.73%
Min single investment£1
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)2.02%
Bid price108.82
Offer price108.82
Mid price-
CurrencyEUR
Price updated27/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFSNT
Data provided by

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