Fact sheet: Candriam Bds Cr Opps

Fund information
Fund name
Candriam Bonds Credit Opportunities Classique Cap EUR
Fund manager company
Candriam
Fund type
Offshore Fund
Fund manager
  • Philippe NOYARDsince 31/07/2002
Fund objective
Candriam Bonds High Spread is a UCITS IV fund with daily liquidity offers investors exposure to the private sector and international bonds market, to benefit from attractive yielding debt of companies with a high credit risk. The fund invests principally in bonds or in derivative instruments (credit derivatives based on indices or individual names) issued by companies with a rating exceeding B-/B3. The fund may use currency, volatility, interest rate or credit derivatives for efficient portfolio management purposes (hedge, exposure).
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
4.9%
1 Year rank in sector
44/46
Sector
FO Fixed Int - EUR Corporate Bond
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.
1.26%
Fund size
£1,736m (£437m 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.
61
Top in this sector
Fund name1 Year
Capital Group ECorpBdLUX27%
Schroder ISF €Cp Bd9%
BNY Mellon Crsovr Cr8.5%
JI High Grade Corporate Bonds CL8.4%
Oddo CmpsEuroCorpBd8%
...more in FO Fixed Int - EUR Corporate Bond

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.4%1.3%1.9%4.9%11.2%39.7%
Sector-0.1%2.7%4%7%13.4%31.7%
Rank within sector45 / 4747 / 4747 / 4744 / 4638 / 436 / 36
Quartile4th4th4th4th4th1st
Calendar performance
 YTD - 20162015201420132012
Fund3.1%2.8%2.8%6.1%15.2%
Sector5.9%-1%6.9%2.2%13.3%
Rank within sector45 / 462 / 4644 / 443 / 419 / 36
Quartile4th1st4th1st1st
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.
1.43
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.
0.6
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.
0.31
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%.
2.22
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.
1.79
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.
-0.2
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.
0.61
Price movement
52 week high196.73
52 week low186.36
Current bid price-
Current offer price-
Current mid price195.65
Region
1Europe100%
Industry sector
1Unknown30%
2B+20.5%
3B14.9%
4BB+14.6%
5BB9%
6BB-7.6%
7BBB-5.4%
8B-4.3%
9CCC+3.9%
Asset type
1European Fixed Interest100%
Individual holdings
1ZF NA CAPI 4.5% 29/04/222.13%
21011778 BC UNLTD LIABILITY/NEW RED 4.625% BDS 15/01/22 USD20001.74%
3BALL CORP 4.375% BDS 15/12/23 EUR10001.64%
4CCO HLDGS LLC/CCO HLDGS CAPITAL CP 6.625% BDS 31/01/22 USD10001.52%
5CERBA EUROPEAN LAB 7% BDS 01/02/20 EUR1000 144A1.51%
Management
Fund manager group
Dexia Asset Management
Fund manager company
Candriam
Fund type
Offshore Fund
Fund objective
Candriam Bonds High Spread is a UCITS IV fund with daily liquidity offers investors exposure to the private sector and international bonds market, to benefit from attractive yielding debt of companies with a high credit risk. The fund invests principally in bonds or in derivative instruments (credit derivatives based on indices or individual names) issued by companies with a rating exceeding B-/B3. The fund may use currency, volatility, interest rate or credit derivatives for efficient portfolio management purposes (hedge, exposure).
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Philippe NOYARD31/07/2002Philippe Noyard? has been head of high yield & credit arbitrage management at Candriam since 2009. He is also a member of our Credit Risk Committee. In 1987 he joined Neuflize Schlumberger Mallet in France as a portfolio manager and two years later moved to Candriam, also as a portfolio manager. He was appointed head of high yield management in 1999, and head of high yield & credit arbitrage management and a member of our Credit Risk Committee in 2009. He has master’s degrees in economics and finance and in finance & wealth management from the University of Economy in Clermont-Ferrand in France.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, IA Recognised, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Switzerland, Chile, Germany, Spain, France, United Kingdom, Ireland, Italy, Luxembourg, Netherlands, Offshore, Portugal, Sweden
Candriam Bonds Credit Opportunities C Hedged Cap USD
Initial charge2.5%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price152.65
CurrencyUSD
Price updated27/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE8MW
Candriam Bonds Credit Opportunities CQ Dis EUR
Initial charge2.5%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.26%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price154.89
CurrencyEUR
Price updated28/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE6AB
Candriam Bonds Credit Opportunities Classique Cap EUR
Initial charge2.5%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.26%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price195.65
CurrencyEUR
Price updated28/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeB3O6
Candriam Bonds Credit Opportunities Classique Dis EUR
Initial charge2.5%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.26%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price139.49
CurrencyEUR
Price updated28/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeB3O7
Candriam Bonds Credit Opportunities I Cap EUR
Initial charge-
Annual charge0.5%
Min single investment£250,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.64%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price220.03
CurrencyEUR
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeB3O9
Candriam Bonds Credit Opportunities I Cap USD
Initial charge-
Annual charge0.5%
Min single investment£250,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1527.12
CurrencyUSD
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE8YQ
Candriam Bonds Credit Opportunities IQ Dis EUR
Initial charge-
Annual charge0.5%
Min single investment£250,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.64%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1536.05
CurrencyEUR
Price updated28/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE2DF
Candriam Bonds Credit Opportunities N Cap EUR
Initial charge-
Annual charge1.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.86%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price181.45
CurrencyEUR
Price updated28/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeB3O8
Candriam Bonds Credit Opportunities R Cap CHF
Initial charge2.5%
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.76%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price153.92
CurrencyCHF
Price updated28/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFTWR
Candriam Bonds Credit Opportunities R Cap EUR
Initial charge2.5%
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.76%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price155.29
CurrencyEUR
Price updated28/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE1QT
Candriam Bonds Credit Opportunities S Cap EUR
Initial charge-
Annual charge0.25%
Min single investment£25,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.39%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price221.05
CurrencyEUR
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFSRU
Candriam Bonds Credit Opportunities Z Cap EUR
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.14%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price222.07
CurrencyEUR
Price updated28/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeB3P1
Data provided by

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