Fact sheet: Absalon Global High Yield

Fund information
Fund name
Absalon Global High Yield R EUR
Fund manager company
Universal Investment
Fund type
Offshore Fund
Fund manager
No data available.
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 global 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 subfund is: 100% BofA ML Global HY TR (EUR) hedged. This benchmark is determined for the sub-fund 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
  • BofA Merrill Lynch Global High Yield (hedged into Euro) Constrained
Investment style
Active,High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
10.6%
1 Year rank in sector
21/77
Sector
FO Fixed Int - Global High Yield
Yield
-
Fund size
£61m (£59m 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.
71
Top in this sector
Fund name1 Year
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HSBC GIF Gbl AsBk Hg Yld Bd21.3%
BlueBay Em Mkt HY Crp16.9%
Schroder ISFGbHiIBd16.6%
...more in FO Fixed Int - Global High Yield

Performance snapshot

Holdings snapshot

  • Others31.9%
    USA13.8%
    Italy11.9%
    France10.9%
    UK8.8%
  • Corporate Bonds63.7%
    Financials34.2%
    Fixed Interest Deposit3.4%
    Mortgage & Secured Bonds0.8%
    Futures-0.4%
  • Global Fixed Interest31.9%
    US Fixed Interest13.8%
    Italian Fixed Interest11.9%
    French Fixed Interest10.9%
    UK Fixed Interest8.8%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.4%7.5%11.6%10.6%--
Sector0.2%4.5%7.8%8.9%11.2%36.8%
Rank within sector77 / 835 / 8211 / 8121 / 77--
Quartile4th1st1st2nd
Calendar performance
 YTD - 20162015201420132012
Fund12%----
Sector9.6%-2.5%1.4%5.2%15.5%
Rank within sector21 / 80----
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 high103.03
52 week low83.76
Current bid price101.9
Current offer price101.9
Current mid price-
Region
1Others31.9%
2USA13.75%
3Italy11.88%
4France10.86%
5UK8.75%
6Brazil6.13%
7Spain5.59%
8Netherlands4.71%
9Australia3.81%
Industry sector
1Corporate Bonds63.73%
2Financials34.2%
3Fixed Interest Deposit3.35%
4Mortgage & Secured Bonds0.84%
5Futures-0.38%
6Derivatives-0.77%
7Money Market-0.98%
Asset type
1Global Fixed Interest31.9%
2US Fixed Interest13.75%
3Italian Fixed Interest11.88%
4French Fixed Interest10.86%
5UK Fixed Interest8.75%
6Brazilian Fixed Interest6.13%
7Spanish Fixed Interest5.59%
8Dutch Fixed Interest4.71%
9Australian Fixed Interest3.81%
Individual holdings
1EDF 6% UNDATED NTS GBP1000002.56%
2BRASKEM AMERICA FINANCE 7.125% BDS 22/07/41 USD1000 REG S2.05%
3DNO ASA 8.75% BDS 18/06/20 USD2000002.01%
4ENEL S.P.A. LS-FLR BONDS 2014(21/76)1.99%
5ENSCO PLC DL-NOTES 2010(40)1.93%
6FRONTIER COMMUNICATIONS CORP 9% BDS 15/8/31 USD10001.92%
7CORRAL PETROLEUM HLDGS AB (PUBL) FRN 15/05/21 EUR100000 21.9%
8Liberty Interactive LLC 8.250 FEB 01 301.85%
9GTL TRADE FINANCE INC 7.25% BDS 16/04/44 USD10001.84%
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 global 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 subfund is: 100% BofA ML Global HY TR (EUR) hedged. This benchmark is determined for the sub-fund 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
  • BofA Merrill Lynch Global High Yield (hedged into Euro) Constrained
Investment style
Active,High Yield
Investment method
Fixed Interest
Fund manager
No data available.
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
Absalon Global High Yield I EUR
Initial charge3.5%
Annual charge1.48%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price10358.62
Offer price10358.62
Mid price-
CurrencyEUR
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFSNW
Absalon Global High Yield R EUR
Initial charge3.5%
Annual charge1.48%
Min single investment£1
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price101.9
Offer price101.9
Mid price-
CurrencyEUR
Price updated28/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFSNV
Data provided by

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