Fact sheet: CS 1Lux Abs Rtn Bd

Fund information
Fund name
CS 1 (Lux) Absolute Return Bond IB USD
Fund manager company
Credit Suisse Fund Management
Fund type
Offshore Fund
Fund managers
  • Dennis Essrichsince 14/11/2014
  • Massimiliano Gnesisince 12/11/2014
Fund objective
The fund seeks to achieve positive absolute returns, regardless of credit and interest rate cycles, while adhering to a stringent management process. The fund allocates its assets between a strategic beta universe (short term investment grade bond portfolio) and a tactical alpha universe (risk limited directional and relative value strategies). The tactical universe consists of a wide range of fixed income return-enhancing strategies across both developed and emerging markets. The active strategies mostly involve long/short derivatives positions in interest rates, credit and currencies.
Benchmark
  • LIBOR CHF 3 month
Investment style
Absolute Return,Active,Multi Strategy
Investment method
Fixed Interest
Quick stats
1 Year return
1.9%
1 Year rank in sector
8/22
Sector
FO Hedge/Stru Prod - Fixed Int
Yield
-
Fund size
£500m (£288m 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.
76
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Performance snapshot

Holdings snapshot

  • USA33.2%
    Money Market11.4%
    International5.5%
    Germany5.3%
    Spain5.1%
  • AAA37.3%
    BBB+15.6%
    BBB9.3%
    A8.1%
    A+7.7%
  • US Fixed Interest33.2%
    Cash & Cash Equivalents11.4%
    Supranational Fixed Interest5.5%
    German Fixed Interest5.3%
    Spanish Fixed Interest5.1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.5%0.1%1.3%1.9%--
Sector-0.5%0.8%0.7%-0%-12.8%-12.1%
Rank within sector4 / 2316 / 239 / 238 / 22--
Quartile1st3rd2nd2nd
Calendar performance
 YTD - 20162015201420132012
Fund5.8%-0.3%---
Sector0.2%-14.4%0.6%-5.7%6.2%
Rank within sector3 / 2316 / 21---
Quartile1st4th
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 high106.41
52 week low100.08
Current bid price-
Current offer price-
Current mid price106.08
Region
1USA33.18%
2Money Market11.41%
3International5.54%
4Germany5.25%
5Spain5.08%
6Mexico4.85%
7UK4.68%
8France4.02%
9Sweden3.88%
Industry sector
1AAA37.27%
2BBB+15.56%
3BBB9.32%
4A8.11%
5A+7.68%
6A-7.38%
7BBB-6.53%
8AA-4.09%
9BB+2.18%
Asset type
1US Fixed Interest33.18%
2Cash & Cash Equivalents11.41%
3Supranational Fixed Interest5.54%
4German Fixed Interest5.25%
5Spanish Fixed Interest5.08%
6Mexican Fixed Interest4.85%
7UK Fixed Interest4.68%
8French Fixed Interest4.02%
9Swedish Fixed Interest3.88%
Individual holdings
No data available.
Management
Fund manager group
Credit Suisse
Fund manager company
Credit Suisse Fund Management
Fund type
Offshore Fund
Fund objective
The fund seeks to achieve positive absolute returns, regardless of credit and interest rate cycles, while adhering to a stringent management process. The fund allocates its assets between a strategic beta universe (short term investment grade bond portfolio) and a tactical alpha universe (risk limited directional and relative value strategies). The tactical universe consists of a wide range of fixed income return-enhancing strategies across both developed and emerging markets. The active strategies mostly involve long/short derivatives positions in interest rates, credit and currencies.
Benchmark
  • LIBOR CHF 3 month
Investment style
Absolute Return,Active,Multi Strategy
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Dennis Essrich14/11/2014Dennis Essrich, Assistant Vice President, is a portfolio manager for fixed income absolute return strategies. Prior to that he managed global fixed income portfolios for Credit Suisse. Before Dennis joined Credit Suisse in 2011 he gained professional fixed income experience with Landesbank Baden-Württemberg, Germany, including roles in research, capital markets and risk management. Dennis Essrich holds a Master of Science (MSc) degree in Economics from the University of Konstanz, Germany, specializing in International Financial Management and International Economic Relations. During his studies he spent one year at Stony Brook State University of New York, U.S., focusing on Finance and Economics.
Massimiliano Gnesi12/11/2014Massimiliano Gnesi has 13 years of investment experience ranging from rates relative value and arbitrage to management of large global fixed income absolute return portfolios. He has been lead portfolio manager of the multibillion absolute return products at Vontobel Asset Management since 2009. Prior to joining Vontobel, he cofounded Old Brompton Capital Management, a start-up alternative asset manager specialized in fixed income macro relative value investments. From 2004 to 2006 Massimiliano worked at Concordia Advisors, a multistrategy hedge fund, as a fixed income trader specialized in directional rates strategies. Previously, he was a fixed income trader at CATAM Asset Management, managing a rates relative value overlay across different VaR products. He received his degree (magna cum laude) in Financial Economics from Bocconi University in Milan and a master's degree in Applied Mathematics from Imperial College London.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Germany, Spain, France, United Kingdom, Italy, Liechtenstein, Luxembourg, Offshore, Singapore
CS 1 (Lux) Absolute Return Bond B USD
Initial charge-
Annual charge0.9%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.3%
Bid price-
Offer price-
Mid price105.24
CurrencyUSD
Price updated28/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFP6K
CS 1 (Lux) Absolute Return Bond BH CHF
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price99.3
CurrencyCHF
Price updated28/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeC0AW
CS 1 (Lux) Absolute Return Bond BH EUR
Initial charge-
Annual charge0.9%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.26%
Bid price-
Offer price-
Mid price103.3
CurrencyEUR
Price updated28/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFP6L
CS 1 (Lux) Absolute Return Bond DB USD
Initial charge-
Annual charge0.1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.1%
Bid price-
Offer price-
Mid price1041.28
CurrencyUSD
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFSQR
CS 1 (Lux) Absolute Return Bond DP USD
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1042.47
CurrencyUSD
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE0ZB
CS 1 (Lux) Absolute Return Bond EB USD
Initial charge-
Annual charge0.45%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.06%
Bid price-
Offer price-
Mid price106.16
CurrencyUSD
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFP6M
CS 1 (Lux) Absolute Return Bond EBH CHF
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price101.32
CurrencyCHF
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFVEV
CS 1 (Lux) Absolute Return Bond EBH EUR
Initial charge-
Annual charge0.45%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.85%
Bid price-
Offer price-
Mid price104.29
CurrencyEUR
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFP6N
CS 1 (Lux) Absolute Return Bond IB USD
Initial charge-
Annual charge0.45%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.1%
Bid price-
Offer price-
Mid price106.08
CurrencyUSD
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFP6O
CS 1 (Lux) Absolute Return Bond IBH CHF
Initial charge-
Annual charge0.45%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.99%
Bid price-
Offer price-
Mid price103.01
CurrencyCHF
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFP6P
CS 1 (Lux) Absolute Return Bond IBH EUR
Initial charge-
Annual charge0.45%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.73%
Bid price-
Offer price-
Mid price104.03
CurrencyEUR
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFP6Q
CS 1 (Lux) Absolute Return Bond SB USD
Initial charge-
Annual charge0.3%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.26%
Bid price-
Offer price-
Mid price1064.1
CurrencyUSD
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFP6R
CS 1 (Lux) Absolute Return Bond SBH CHF
Initial charge-
Annual charge0.3%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.46%
Bid price-
Offer price-
Mid price1033.11
CurrencyCHF
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFP6S
CS 1 (Lux) Absolute Return Bond UB USD
Initial charge-
Annual charge0.55%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.2%
Bid price-
Offer price-
Mid price103.16
CurrencyUSD
Price updated28/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFROA
CS 1 (Lux) Absolute Return Bond UBH CHF
Initial charge-
Annual charge0.55%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.93%
Bid price-
Offer price-
Mid price100.81
CurrencyCHF
Price updated28/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFVNL
CS 1 (Lux) Absolute Return Bond UBH EUR
Initial charge-
Annual charge0.55%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.15%
Bid price-
Offer price-
Mid price101.31
CurrencyEUR
Price updated28/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFROB
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