Fact sheet: Candriam Bonds GblHgYld

Fund information
Fund name
Candriam Bonds Global High Yield C Cap EUR
Fund manager company
Candriam
Fund type
Offshore Fund
Fund manager
  • Philippe NOYARDsince 15/09/2003
Fund objective
Candriam Bonds Global High Yield is a subfund of the Candriam Bonds sicav. This UCITS IV fund with daily liquidity offers investors exposure to the Global High Yield corporate bonds market, to benefit from attractive yielding debt of companies with a high credit risk. The fund invests predominantly 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
  • Merrill Lynch Global High Yield BB/B ex-FNCL hedged EUR
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
9.5%
1 Year rank in sector
25/76
Sector
FO Fixed Int - Global High Yield
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.
1.23%
Fund size
£474m (£433m 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.
63
Top in this sector
Fund name1 Year
Franklin GblCorpHiYd30.7%
Pioneer SICV-Gbl Hi Yld26.9%
HSBC GIF Gbl AsBk Hg Yld Bd21.3%
BlueBay Em Mkt HY Crp15.3%
Schroder ISFGbHiIBd15.2%
...more in FO Fixed Int - Global High Yield

Performance snapshot

Holdings snapshot

  • Europe100%
  • Consumer Discretionary23.2%
    Telecommunications Utilities18.8%
    Materials12.7%
    Consumer Staples10%
    Energy9.3%
  • European Fixed Interest100%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.4%4.2%5%9.5%18.1%45.2%
Sector0.2%4.7%7.5%8.1%11.1%36.2%
Rank within sector76 / 8256 / 8167 / 8025 / 769 / 587 / 38
Quartile4th3rd4th2nd1st1st
Calendar performance
 YTD - 20162015201420132012
Fund7.6%1.7%4.8%6.2%13.9%
Sector9.5%-2.5%1.4%5.2%15.5%
Rank within sector56 / 7911 / 6912 / 6228 / 5031 / 41
Quartile3rd1st1st3rd4th
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.
3.28
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.
0.75
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.
0.71
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%.
4.05
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.
2.25
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
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.
0.78
Price movement
52 week high199.35
52 week low180.28
Current bid price-
Current offer price-
Current mid price198.08
Region
1Europe100%
Industry sector
1Consumer Discretionary23.17%
2Telecommunications Utilities18.75%
3Materials12.69%
4Consumer Staples10.03%
5Energy9.25%
6Health Care7.61%
7Industrials4.94%
8Utilities4.77%
9Information Technology4.64%
Asset type
1European Fixed Interest100%
Individual holdings
11011778 BC UNLTD LIABILITY/NEW RED 4.625% BDS 15/01/22 USD20001.7%
2HCA INC 5% BDS 15/03/24 USD20001.5%
3HOLOGIC INC 5.25% BDS 15/07/22 USD20001.5%
4CROWN EURO HLDGS SA 3.375% BDS 15/05/25 EUR1000001.3%
5FRESENIUS MED CARE US FIN II INC 4.75% BDS 15/10/24 USD2000 144A1.3%
6NIELSEN FINANCE LLC/CO 5% BDS 15/04/22 USD20001.3%
7CHS/COMMUNITY HEALTH SYSTEMS INC 5.125% BDS 15/08/18 USD10001.2%
8FCA US LLC 8.25% 15/06/211.2%
9MPT OPERATING PTNRSHP/MPT FIN CORP 6.375% BDS 15/02/22 USD10001.2%
Management
Fund manager group
Dexia Asset Management
Fund manager company
Candriam
Fund type
Offshore Fund
Fund objective
Candriam Bonds Global High Yield is a subfund of the Candriam Bonds sicav. This UCITS IV fund with daily liquidity offers investors exposure to the Global High Yield corporate bonds market, to benefit from attractive yielding debt of companies with a high credit risk. The fund invests predominantly 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
  • Merrill Lynch Global High Yield BB/B ex-FNCL hedged EUR
Investment style
High Yield
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Philippe NOYARD15/09/2003Philippe 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, Denmark, Spain, Finland, France, United Kingdom, Ireland, Italy, Luxembourg, Netherlands, Offshore, Portugal, Sweden
Candriam Bonds Global High Yield C Cap EUR
Initial charge2.5%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.23%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price198.08
CurrencyEUR
Price updated27/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeC0C3
Candriam Bonds Global High Yield C Dis EUR
Initial charge2.5%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.23%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price102.38
CurrencyEUR
Price updated27/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeC0C2
Candriam Bonds Global High Yield CQ Dis EUR
Initial charge2.5%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.23%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price161.48
CurrencyEUR
Price updated27/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE6AF
Candriam Bonds Global High Yield I Cap EUR
Initial charge-
Annual charge0.6%
Min single investment£250,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.68%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price205.31
CurrencyEUR
Price updated27/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeC0C4
Candriam Bonds Global High Yield N Cap EUR
Initial charge-
Annual charge1.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.83%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price184.95
CurrencyEUR
Price updated27/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeC0C5
Candriam Bonds Global High Yield R Cap EUR
Initial charge2.5%
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.73%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price158.98
CurrencyEUR
Price updated27/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE2DH
Candriam Bonds Global High Yield S Cap USD
Initial charge-
Annual charge0.3%
Min single investment£25,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.48%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1652.86
CurrencyUSD
Price updated27/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFSXI
Candriam Bonds Global High Yield V Cap EUR
Initial charge-
Annual charge0.3%
Min single investment£20,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.48%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price210.37
CurrencyEUR
Price updated27/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFF9J
Candriam Bonds Global High Yield Z Cap EUR
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.15%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price208.87
CurrencyEUR
Price updated27/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeGGXM
Data provided by

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