Fact sheet: Aviva High Yield Bond Pn

Fund information
Fund name
Aviva High Yield Bond Pn S6
Fund manager company
Aviva Life & Pensions UK Ltd
Fund type
Pension Fund
Fund manager
  • Chris Highamsince 01/11/2012
Underlying fund
Aviva Inv High Yield Bond
Fund objective
To maximise total return while generating a high level of income through investment in a diversified portfolio of fixed interest securities.
Benchmark
  • ML Euro Fixed & Floating HY 3% Constrained - Hedged To GBP
Investment style
High Yield
Investment method
No data available.
Quick stats
1 Year return
11.2%
1 Year rank in sector
39/56
Sector
PN Sterling High Yield
Yield
-
Fund size
£25m (£21m 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.
32
Bid price
296.93
Top in this sector
Fund name1 Year
L&G High Income Pn20.8%
OMW IPLPimUsHiYiBdPn18.3%
Aviva JPM Gbl HighYldBd Pn18.2%
SIP JPM Gbl Hi Yd Bd Pn17.7%
FL AXA Gbl High Inc EP16.8%
...more in PN Sterling High Yield

Performance snapshot

Holdings snapshot

  • Europe42.2%
    UK37%
    North America11.7%
    Money Market4.8%
    Others1%
  • BB48.3%
    B15.5%
    BBB12.3%
    CCC+9.5%
    Money Market4.8%
  • Global Fixed Interest57.3%
    UK Corporate Fixed Interest33%
    Cash & Cash Equivalents4.8%
    UK Gilts4%
    Others0.9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.9%1.5%4.6%11.2%22.6%64.6%
Sector1.5%1.8%4.6%12.9%16.1%46.2%
Rank within sector49 / 5849 / 5737 / 5739 / 565 / 492 / 46
Quartile4th4th3rd3rd1st1st
Calendar performance
 YTD - 20172016201520142013
Fund0.4%9.6%4.7%7.3%11.7%
Sector0.7%11.2%-0.1%4.4%6.8%
Rank within sector54 / 5839 / 565 / 542 / 491 / 49
Quartile4th3rd1st1st1st
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.
2.73
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.
0.86
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.
0.89
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%.
4.11
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.
1.77
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.
1.13
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.
0.84
Price movement
52 week high297.86
52 week low259.3
Current bid price296.93
Current offer price-
Current mid price-
Region
1Europe42.2%
2UK37%
3North America11.7%
4Money Market4.8%
5Others1%
6Asia0.9%
7Japan0.9%
8European Emerging Markets0.7%
9Central & S America0.6%
Industry sector
1BB48.3%
2B15.5%
3BBB12.3%
4CCC+9.5%
5Money Market4.8%
6AA4.4%
7Non-Rated3.8%
8Others0.9%
9A0.5%
Asset type
1Global Fixed Interest57.3%
2UK Corporate Fixed Interest33%
3Cash & Cash Equivalents4.8%
4UK Gilts4%
5Others0.9%
Individual holdings
1TREASURY 1% GILT 07/09/17 GBP0.014%
2HEATHROW FINANCE PLC CALLABLE MEDIUM TERM NOTE2%
3TELEFONICA EUROPE BV CALLABLE BOND VARIABLE GBP1.8%
4BARCLAYS BANK PLC CALLABLE BOND VARIABLE GBP 10001.6%
5ENEL SPA 8.75% BDS 24/09/73 USD10001.6%
6FRONTIER COMMUNICATIONS CORP CALLABLE NOTES FIXED1.5%
7WESTERN DIGITAL CORP CALLABLE NOTES FIXED 10.5%1.5%
8GLASSTANK BV 8.5% NTS 15/05/19 EUR1000144A1.4%
9GREENKO DUTCH BV 8% 01/08/191.4%
Management
Fund manager group
Aviva
Fund manager company
Aviva Life & Pensions UK Ltd
Fund type
Pension Fund
Fund objective
To maximise total return while generating a high level of income through investment in a diversified portfolio of fixed interest securities.
Benchmark
  • ML Euro Fixed & Floating HY 3% Constrained - Hedged To GBP
Investment style
High Yield
Investment method
No data available.
Fund manager
NameSinceBiography
Chris Higham01/11/2012Chris Higham is the head of Credit Multi-Strategy Fixed Income. He joined Aviva investors in 2007. Chris oversees a range of bond funds which invest across fixed-income assets, including investment-grade corporates, high-yield corporates, government, and emerging markets bonds. During 2013 the Aviva Investors Managed High Income Fund was awarded the Lipper Fund award within the Bond-Global High Yield category. In 2014 the Aviva Investors Strategic Bond Fund was the winner of the Investment Advisor 100 club Sterling Strategic Bond Fund of the year. Chris has managed the Strategic Bond Fund from launch in 2008. Chris has extensive investment experience. Prior to joining Aviva Investors he worked as a portfolio manager for Old Mutual Asset Managers. He joined the industry as a credit analyst. Chris graduated from Durham University with a BA (Hons) in Economics. He is an associate member of the UK Society Investment Professionals and is a CFA Charterholder.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
Aviva High Yield Bond Pn Inet
Initial charge-
Annual charge0.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price276.51
CurrencyGBX
Price updated16/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeDTF6
Aviva High Yield Bond Pn S14
Initial charge-
Annual charge0.3%
Min single investment£1
Min regular saving£1
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.35%
Bid price139.01
Offer price-
Mid price-
CurrencyGBX
Price updated16/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGS1B
Aviva High Yield Bond Pn S6
Initial charge-
Annual charge0.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price296.93
Offer price-
Mid price-
CurrencyGBX
Price updated16/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeDTF5
Data provided by

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