Fact sheet: F&C Maximum Income Bond

Fund information
Fund name
F&C Maximum Income Bond C Inc
Fund manager company
F&C (BMO Global Asset Manageme
Fund type
OEIC
Fund managers
  • Chris Brilssince 07/11/2012
Fund objective
The fund aims to maximise returns through investment primarily in high-yielding global fixed interest securities. The fund will invest predominantly in US dollar, sterling and euro denominated high yielding securities including non-investment grade bonds. To manage risk the fund will seek a wide degree of diversification and will adopt a rigorous credit management process.
Benchmark
  • IA Sterling High Yield median
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
6.6%
1 Year rank in sector
13/22
Sector
UT Sterling High Yield
Yield
4.8%
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.
0.56%
Fund size
£71m (£66m 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.
32
Mid price
52.51
Top in this sector
Fund name1 Year
Fidelity Global High Yield13.2%
L&G High Income Trust11.8%
Newton Global Hi Yield Bd11.3%
JPM Global High Yield Bond10.6%
Investec MonthlyHiInc10.4%
...more in UT Sterling High Yield

Performance snapshot

Holdings snapshot

  • UK101.2%
    Money Market-1.2%
  • Others36.2%
    Cyclical Consumer Goods12.7%
    Basic Industries9.7%
    Banks9%
    Cyclical Services7.5%
  • UK Fixed Interest101.2%
    Money Market-1.2%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0%-0.6%3.5%6.6%12.8%42.6%
Sector0.5%0.2%4.3%7.5%11.1%39.5%
Rank within sector19 / 2219 / 2216 / 2213 / 2211 / 2110 / 19
Quartile4th4th3rd3rd3rd3rd
Calendar performance
 YTD - 20162015201420132012
Fund7.6%0.7%3.4%7.3%18.1%
Sector8.8%-0.3%1.8%6.2%18.4%
Rank within sector13 / 229 / 226 / 2113 / 2013 / 19
Quartile3rd2nd2nd3rd3rd
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.
0.64
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.
1.04
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.
0.07
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%.
4.79
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.
1.29
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.
0.58
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.
0.93
Price movement
52 week high53.64
52 week low48.16
Current bid price-
Current offer price-
Current mid price52.51
Region
1UK101.2%
2Money Market-1.2%
Industry sector
1Others36.2%
2Cyclical Consumer Goods12.7%
3Basic Industries9.7%
4Banks9%
5Cyclical Services7.5%
6Capital Goods5.7%
7Non-Cyclical Consumer Goods5.6%
8Utilities5.5%
9Telecommunications5.1%
Asset type
1UK Fixed Interest101.2%
2Money Market-1.2%
Individual holdings
1AALLN 3.25% 03 APR 20232%
2UNITYMEDIA HESSEN / NRW 6.25% BDS 15/01/29 EUR10001.5%
3CHANNEL LINK 30 JUN 20501.4%
4VIRGIN MEDIA SECURED FINANCE PLC 6.25% NTS 28/03/29 GBP1000144A1.3%
5PARAGON GROUP OF COMPANIES 7% CALL SUB NTS 20/4/17 GBP(VAR)1.2%
6ADRIA BIDCO 7.875% 15 NOV 20201.1%
7BALL CORP 4.375% BDS 15/12/23 EUR10001.1%
8CROWN EURO HLDGS SA 3.375% BDS 15/05/25 EUR1000001.1%
9SOFTBANK GROUP CORP 5.25% BDS 30/07/27 EUR1000001.1%
Management
Fund manager group
F&C
Fund manager company
F&C (BMO Global Asset Manageme
Fund type
OEIC
Fund objective
The fund aims to maximise returns through investment primarily in high-yielding global fixed interest securities. The fund will invest predominantly in US dollar, sterling and euro denominated high yielding securities including non-investment grade bonds. To manage risk the fund will seek a wide degree of diversification and will adopt a rigorous credit management process.
Benchmark
  • IA Sterling High Yield median
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Chris Brils07/11/2012Chris Brils joined the firm in January 2011 and is Head of High Yield. Prior to this, he was Head of High Yield at Pall Mall Investment Management, managing its flagship High Yield Europe Plus Fund that achieved a ‘AA’ rating from S&P and 5 stars from Morningstar among other funds. Prior to this he worked as the European Head of High Yield at ABN AMRO Asset Management. Chris is a CFA charterholder and has a Master’s degree in General Management from The Netherlands Business School, Nyenrode University and a Master’s degree in Forestry Science from Wageningen Agricultural University.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom, Ireland
F&C Maximum Income Bond 1 Inc
Initial charge5%
Annual charge1.25%
Min single investment£1,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)1.49%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price47.74
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeLU40
F&C Maximum Income Bond C Inc
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£1,000,000
Available in ISAYes
Ongoing charge (OCF)0.56%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price52.51
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeGRGW
Data provided by

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