Fact sheet: DNB TMT Abs Rt

Fund information
Fund name
DNB TMT Absolute Return A EUR
Fund manager company
DNB Asset Management S.A.
Fund type
No data available.
Fund managers
  • Erling Thunesince 19/10/2010
  • Anders Tandberg Johansensince 19/10/2010
  • Sverre Berglandsince 19/10/2010
Fund objective
DNB TMT Absolute Return is a long/short equity fund investing in the global TMT sectors. The investment universe is under constant evolution in which new business models emerge at the same time as old ones are getting out of date. This creates ample opportunities for an active and opportunistic approach to stock picking. The investment process is based on themes and fundamental company research. The fund is managed by an experienced team and has a balanced portfolio of long and short positions in equities, which may be implemented by the use of standard OTC-derivatives. The portfolio managers are supported by a proprietary risk management system and controlled by an independent risk control function. The fund targets a neutral net position in terms of long/short and beta exposure, and aims to produce absolute returns uncorrelated to returns in equity markets. The fund targets a yearly standard deviation of 5 to 15 percent. The long-term return target is 5 to 10 percentage points above the risk-free interest rate per annum.
Benchmark
  • 3 mth Bubill
Investment style
Market Neutral
Investment method
Equity
Quick stats
1 Year return
8%
1 Year rank in sector
12/109
Sector
FO Hedge/Stru Prod - Equity
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.
2.26%
Fund size
£2,205m (£1,069m 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.
90
Top in this sector
Fund name1 Year
MontLake ToscaMiCaUCITS24.8%
Majedie Tortoise24.8%
Income Partners AllSeasnAsCred18.5%
Ennismore Eurpn Smallar Cos16.7%
DNB ECO Abs Rt15.4%
...more in FO Hedge/Stru Prod - Equity

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.7%-1.1%1.6%8%11.3%11.1%
Sector-0.1%0.1%0.5%-2.6%3%14.3%
Rank within sector69 / 11277 / 12738 / 12012 / 10923 / 7234 / 49
Quartile3rd3rd2nd1st2nd3rd
Calendar performance
 YTD - 20162015201420132012
Fund6.5%6.4%-2.2%13.4%-10.9%
Sector-2.1%2.7%2.5%7.1%3.9%
Rank within sector16 / 11029 / 9463 / 7426 / 6650 / 51
Quartile1st2nd4th2nd4th
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.
3.55
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.
0.3
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.
0.04
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%.
6.67
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.
6.99
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.
0.34
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.
0.02
Price movement
52 week high127.04
52 week low112.42
Current bid price-
Current offer price-
Current mid price123.66
Region
No data available.
Industry sector
No data available.
Asset type
No data available.
Individual holdings
1TELEFONAKTIEBOLAGET LM ERICSSON7.1%
2PLAYTECH PLC6.4%
3SAP SE4.3%
4WESTERN DIGITAL CORP3.6%
5ORACLE CORP3.5%
Management
Fund manager group
DNB Asset Management
Fund manager company
DNB Asset Management S.A.
Fund type
No data available.
Fund objective
DNB TMT Absolute Return is a long/short equity fund investing in the global TMT sectors. The investment universe is under constant evolution in which new business models emerge at the same time as old ones are getting out of date. This creates ample opportunities for an active and opportunistic approach to stock picking. The investment process is based on themes and fundamental company research. The fund is managed by an experienced team and has a balanced portfolio of long and short positions in equities, which may be implemented by the use of standard OTC-derivatives. The portfolio managers are supported by a proprietary risk management system and controlled by an independent risk control function. The fund targets a neutral net position in terms of long/short and beta exposure, and aims to produce absolute returns uncorrelated to returns in equity markets. The fund targets a yearly standard deviation of 5 to 15 percent. The long-term return target is 5 to 10 percentage points above the risk-free interest rate per annum.
Benchmark
  • 3 mth Bubill
Investment style
Market Neutral
Investment method
Equity
Fund managers
NameSinceBiography
Erling Thune19/10/2010Mr. Thune joined DnB NOR Asset Management's global technology team in early 2008, where he is a portfolio manager for global telecommunications operators. Mr. Thune started his career in 1993 as a financial journalist for the Norwegian Financial Daily. Between 1996 and 2000 he was Senior Vice President in charge of corporate communications at Elkjøp ASA, one of Norway's leading retail companies, before joining Telenor ASA – Norway's leading Telecom operator – in 2000, where he held the position of Head of Investor Relations; until joining DnB NOR. Mr. Thune is a graduate of the Norwegian School of Economics and Business Administration and speaks fluent English and Norwegian.
Anders Tandberg Johansen19/10/2010Anders Tandberg-Johansen, focuses on Operators, Telecom equipment and Hardware, and is responsible for the risk management in the fund. He has worked as Portfolio Manager in DNB Asset Management since 1997 with a long proven track record in technology and telecom equipment. Before joining DNB he worked as Sell Side Analyst within Norwegian technology stocks at Enskilda Securities. He holds the Norwegian degree Siviløkonom (MSc in Economics and Business Administration) from BI Norwegian School of Management, Oslo.
Sverre Bergland19/10/2010Sverre Bergland, focuses on Media Software and IT-Services and has worked as Portfolio Manager for DNB Asset Management since 2001. Before joining DnB NOR he worked as Financial Analyst for ABG Securities for six years. He holds a Bachelor of Business Administration (BBA) degree from the University of San Francisco and a Law degree from the University in Oslo.
Compliance
Transparent for Austrian Tax, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Switzerland, Germany, Finland, United Kingdom, Iceland, Lithuania, Luxembourg, Latvia, Netherlands, Norway, Offshore, Sweden
DNB TMT Absolute Return A EUR
Initial charge5%
Annual charge1.5%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.26%
Total expense ratio (TER)2.26%
Bid price-
Offer price-
Mid price123.6554
CurrencyEUR
Price updated30/11/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMEN1
DNB TMT Absolute Return A NOK
Initial charge5%
Annual charge1.5%
Min single investment£10,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.25%
Total expense ratio (TER)1.58%
Bid price-
Offer price-
Mid price1336.5902
CurrencyNOK
Price updated30/11/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeM8Y4
DNB TMT Absolute Return A NOK EUR
Initial charge5%
Annual charge1.5%
Min single investment£10,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.25%
Total expense ratio (TER)1.58%
Bid price-
Offer price-
Mid price136.2705
CurrencyEUR
Price updated27/03/2015
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeA0KR
DNB TMT Absolute Return A SEK
Initial charge5%
Annual charge1.5%
Min single investment£10,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.32%
Total expense ratio (TER)2.32%
Bid price-
Offer price-
Mid price1273.0817
CurrencySEK
Price updated30/11/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeM8Y5
DNB TMT Absolute Return A SEK EUR
Initial charge5%
Annual charge1.5%
Min single investment£10,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.32%
Total expense ratio (TER)2.32%
Bid price-
Offer price-
Mid price123.5374
CurrencyEUR
Price updated27/03/2015
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeA0KS
DNB TMT Absolute Return IA EUR
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 price110.4399
CurrencyEUR
Price updated30/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFJYV
DNB TMT Absolute Return IA 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 price112.1004
CurrencyUSD
Price updated30/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFM3B
DNB TMT Absolute Return IA USD EUR
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 price91.7754
CurrencyEUR
Price updated27/03/2015
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFM3A
Data provided by

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