Fact sheet: Aviva Inv Managed High Income

Fund information
Fund name
Aviva Inv Managed High Income 2
Fund manager company
Aviva Investors UK Fd Serv Ltd
Fund type
OEIC
Fund managers
  • Chris Highamsince 01/11/2012
Fund objective
The Fund aims to pay a high income from investment in a broad range of bonds.
Benchmark
  • IA Strategic Bond Sector
Investment style
Strategic Investment
Investment method
Fixed Interest
Quick stats
1 Year return
6.6%
1 Year rank in sector
22/77
Sector
UT Sterling Strategic Bond
Yield
4.9%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.64%
Fund size
£150m (£156m 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.
27
Mid price
78.46
Top in this sector
Fund name1 Year
Fidelity I Stg Cr + Bd12.2%
Natixis LS Stgc Inc11.2%
Fidelity UK Inv Grd Lg Cr11.1%
Fidelity Pre-Retirmnt Bd10.1%
Legg Mason IFBrwiGlInOp9.1%
...more in UT Sterling Strategic Bond

Performance snapshot

Holdings snapshot

  • North America36%
    UK31.3%
    Europe15.2%
    Money Market5.5%
    Central & S America4.4%
  • BB29%
    BBB25.3%
    B23.3%
    A6.6%
    Money Market5.5%
  • Global Fixed Interest61%
    UK Corporate Fixed Interest29.8%
    Cash & Cash Equivalents5.5%
    Others2.1%
    UK Gilts1.5%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.9%-3%2.7%6.6%15.4%43.7%
Sector-1%-3%2.3%5.2%12.9%32.2%
Rank within sector36 / 8344 / 8225 / 8222 / 7722 / 7112 / 60
Quartile2nd3rd2nd2nd2nd1st
Calendar performance
 YTD - 20162015201420132012
Fund7.8%-0.5%7.1%5.3%17.3%
Sector5.9%-0.3%6.8%2.6%12.6%
Rank within sector18 / 7751 / 7431 / 7219 / 6419 / 61
Quartile1st3rd2nd2nd2nd
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.
-0.04
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.
1.23
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.
0.29
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%.
4.36
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.
1.51
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.
0.55
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.
0.91
Price movement
52 week high81.77
52 week low73.23
Current bid price-
Current offer price-
Current mid price78.46
Region
1North America36%
2UK31.3%
3Europe15.2%
4Money Market5.5%
5Central & S America4.4%
6Others2.2%
7European Emerging Markets1.9%
8Australasia1.7%
9Emerging Asia1.1%
Industry sector
1BB29%
2BBB25.3%
3B23.3%
4A6.6%
5Money Market5.5%
6Non-Rated3.8%
7AA3.1%
8Others2.1%
9CCC+1.3%
Asset type
1Global Fixed Interest61%
2UK Corporate Fixed Interest29.8%
3Cash & Cash Equivalents5.5%
4Others2.1%
5UK Gilts1.5%
6International Equities0.1%
Individual holdings
1AVIVA INVESTORS EMERGING MARKETS BOND FUND CLASS ZQH EUR HDG7.9%
2RSA INSURANCE GROUP PLC CALLABLE NOTES VARIABLE1.5%
3TREASURY 4.75% GILT 07/12/38 GBP1.5%
4ENEL SPA 8.75% BDS 24/09/73 USD10001.4%
5MITCHELLS & BUTLERS FINANCE PLC CALLABLE OTHER1.4%
6AT&T INC 4.25% BDS 01/06/43 GBP1000001.3%
7BARCLAYS BANK PLC 10% SUB NTS 21/05/21 GBP500001.3%
8IMPERIAL TOBACCO FINANCE PLC MEDIUM TERM NOTE1.3%
9LEGAL & GENERAL GROUP PLC CALLABLE MEDIUM TERM1.3%
Management
Fund manager group
Aviva
Fund manager company
Aviva Investors UK Fd Serv Ltd
Fund type
OEIC
Fund objective
The Fund aims to pay a high income from investment in a broad range of bonds.
Benchmark
  • IA Strategic Bond Sector
Investment style
Strategic Investment
Investment method
Fixed Interest
Fund managers
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
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom, Netherlands
Aviva Inv Managed High Income 1
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£250
Available in ISAYes
Ongoing charge (OCF)1.39%
Total expense ratio (TER)1.38%
Bid price-
Offer price-
Mid price52.28
CurrencyGBX
Price updated06/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNA85
Aviva Inv Managed High Income 2
Initial charge-
Annual charge0.5%
Min single investment£500,000
Min regular saving£25,000
Available in ISANo
Ongoing charge (OCF)0.64%
Total expense ratio (TER)0.63%
Bid price-
Offer price-
Mid price78.46
CurrencyGBX
Price updated06/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeNA65
Data provided by

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