Fact sheet: CS 1Lux Ctgt Cap Eur

Fund information
Fund name
CS 1 (Lux) Contingent Capital Euro QB EUR
Fund manager company
Credit Suisse Fund Management
Fund type
Offshore Fund
Fund manager
  • Roger Wysssince 05/01/2015
Fund objective
The fund aims to generate both income and capital growth, while seeking to preserve capital through adequate diversification. To achieve this objective the fund invests at least two-thirds of its assets in contingent capital securities and other hybrid, subordinated financial instruments issued by financial institutions. These securities are predominantly rated below investment grade. The main focus is on banks and insurance companies with solid capitalization, where the additional risk of this lower credit segment is expected to be compensated with higher returns. In order to manage risk and liquidity the fund maintains flexibility to invest across the capital structure (eg. adding senior bonds) and may use financial derivative instruments to hedge existing positions.
Benchmark
  • CB CS (Lux) Contingent Capital Euro Fund USD
Investment style
Active
Investment method
Fixed Interest
Quick stats
1 Year return
12%
1 Year rank in sector
2/29
Sector
FO Fixed Int - EUR
Yield
-
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.
1.18%
Fund size
£52m (£43m 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.
78
Top in this sector
Fund name1 Year
Nordea 1 European Fin Debt12.1%
CS 1Lux Ctgt Cap Eur12%
BNP Paribas FlxSecuritisation9.2%
Schroder ISF EURCrConv8.1%
Union Quoniam Sel SICV€Cr3.9%
...more in FO Fixed Int - EUR

Performance snapshot

Holdings snapshot

  • UK15.6%
    France14.9%
    Netherlands11%
    Sweden9.5%
    Switzerland9%
  • BB+24.5%
    BBB-18.6%
    BB14.8%
    BBB11.1%
    BB-9.5%
  • UK Fixed Interest15.6%
    French Fixed Interest14.9%
    Dutch Fixed Interest11%
    Swedish Fixed Interest9.5%
    Swiss Fixed Interest9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund2.1%4.1%8.4%12%--
Sector0.4%1.1%1.6%2%6.9%19.6%
Rank within sector2 / 292 / 292 / 292 / 29--
Quartile1st1st1st1st
Calendar performance
 YTD - 20172016201520142013
Fund6.1%4.6%---
Sector0.8%2.6%0%7.7%1.5%
Rank within sector2 / 295 / 28---
Quartile1st1st
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 high1150.48
52 week low994.48
Current bid price-
Current offer price-
Current mid price1145.55
Region
1UK15.57%
2France14.92%
3Netherlands10.95%
4Sweden9.53%
5Switzerland9.02%
6Germany8.41%
7Spain5.73%
8Austria5.44%
9Italy3.82%
Industry sector
1BB+24.5%
2BBB-18.64%
3BB14.78%
4BBB11.09%
5BB-9.48%
6B+7.81%
7A6.42%
8A-3.57%
9Money Market1.95%
Asset type
1UK Fixed Interest15.57%
2French Fixed Interest14.92%
3Dutch Fixed Interest10.95%
4Swedish Fixed Interest9.53%
5Swiss Fixed Interest9.02%
6German Fixed Interest8.41%
7Spanish Fixed Interest5.73%
8Austrian Fixed Interest5.44%
9Italian Fixed Interest3.82%
Individual holdings
1KBC GROUP 5.625 19/03/193.49%
2HSBC HLDGS 5.25% BDS 16/09/22 EUR2000003.48%
3LLOYDS TSB 6.375 27/06/203.27%
4RABOBANK 6.625 29/06/213.09%
5NATIONWIDE BUILDING 6,875 20.06.193.01%
6SHB 5,250 01.03.212.93%
7CREDIT AGRICOLE SA 6.5% NTS 23/06/21 EUR1000002.9%
8ERSTE BANK 8.875 15/10/212.88%
9BARCLAYS 8,000 15.12.202.71%
Management
Fund manager group
Credit Suisse
Fund manager company
Credit Suisse Fund Management
Fund type
Offshore Fund
Fund objective
The fund aims to generate both income and capital growth, while seeking to preserve capital through adequate diversification. To achieve this objective the fund invests at least two-thirds of its assets in contingent capital securities and other hybrid, subordinated financial instruments issued by financial institutions. These securities are predominantly rated below investment grade. The main focus is on banks and insurance companies with solid capitalization, where the additional risk of this lower credit segment is expected to be compensated with higher returns. In order to manage risk and liquidity the fund maintains flexibility to invest across the capital structure (eg. adding senior bonds) and may use financial derivative instruments to hedge existing positions.
Benchmark
  • CB CS (Lux) Contingent Capital Euro Fund USD
Investment style
Active
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Roger Wyss05/01/2015Roger Wyss is Portfolio Manager and Credit Analyst for Swiss Franc Bonds as well as for credit related products like mezzanine loans and mortgages. He is a member of the Swiss Fixed Income investment decision committee. Before joining Credit Suisse in April 2006, Roger was relationship manager for structured loans at Zürcher Kantonalbank. Roger Wyss studied Business Administration at Zürcher Hochschule Winterthur, holds a degree in Corporate Finance from the Insititute for Financial Services Zug and is a CFA charterholder.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Reporting Fund Status, UCITS V Compliant
Domicile
No data available.
Fund for sale in
Austria, Switzerland, Germany, Spain, France, United Kingdom, Italy, Liechtenstein, Luxembourg, Norway, Offshore, Singapore
CS 1 (Lux) Contingent Capital Euro DBH USD
Initial charge-
Annual charge0.1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.1%
Total expense ratio (TER)0.09%
Bid price-
Offer price-
Mid price1156.23
CurrencyUSD
Price updated19/05/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFUUW
CS 1 (Lux) Contingent Capital Euro IB EUR
Initial charge-
Annual charge0.5%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.67%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1072.39
CurrencyEUR
Price updated19/05/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeEAVN
CS 1 (Lux) Contingent Capital Euro QB EUR
Initial charge5%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.18%
Total expense ratio (TER)1.18%
Bid price-
Offer price-
Mid price1145.55
CurrencyEUR
Price updated19/05/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFQUJ
CS 1 (Lux) Contingent Capital Euro QBH CHF
Initial charge5%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.17%
Total expense ratio (TER)1.19%
Bid price-
Offer price-
Mid price1125.25
CurrencyCHF
Price updated19/05/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFQUK
CS 1 (Lux) Contingent Capital Euro QBH USD
Initial charge5%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.19%
Total expense ratio (TER)1.19%
Bid price-
Offer price-
Mid price1168
CurrencyUSD
Price updated19/05/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFQUL
Data provided by

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