Fact sheet: FL AXA Gbl High Inc EP

Fund information
Fund name
FL AXA Global High Income EP
Fund manager company
Friends Life
Fund type
Pension Fund
Fund managers
  • James Gledhillsince 01/08/2012
Underlying fund
AXA Global High Income
Fund objective
AXA state that the aim of the fund is to provide long-term high yield returns through investing in a broadly diversified portfolio of sub-investment grade bonds. The policy is to invest principally in fixed income securities which are issued by governments or companies. Investment is anywhere in the world. The fund may also invest in transferable securities, derivatives, money market instruments, deposits, collective investment schemes and cash holdings. The manager may use investment techniques to protect the value of the fund, including using interest rate futures and forward contracts in order to reduce the risks otherwise associated with making investments in currencies other than the fund's accounting currency. The manager may also use derivatives for the purposes of meeting the objective.
Benchmark
  • BofA ML Global High Yield
Investment style
High Yield
Investment method
No data available.
Quick stats
1 Year return
14.7%
1 Year rank in sector
4/56
Sector
PN Sterling High Yield
Yield
-
Fund size
£1m (£1m 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.
36
Bid price
404.2
Offer price
404.2
Top in this sector
Fund name1 Year
RLP Sterling Extra Yield BdPn16.3%
Zurich Royal Lon Stg ExYldBd Pn15.9%
L&G High Income Pn14.9%
FL AXA Gbl High Inc EP14.7%
L&G Schroder Mnthy Hi Inc Pn13.9%
...more in PN Sterling High Yield

Performance snapshot

Holdings snapshot

  • International92%
    UK4.8%
    Money Market3.2%
  • B46%
    CCC22.1%
    BB21.9%
    Money Market3.2%
    CC2.8%
  • Global Corporate Fixed Interest92%
    UK Corporate Fixed Interest4.8%
    Money Market3.2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.4%2.4%6%14.7%12.1%36.8%
Sector-0.2%1.9%3%10.7%15.1%38.2%
Rank within sector41 / 587 / 583 / 574 / 5629 / 4927 / 47
Quartile3rd1st1st1st3rd3rd
Calendar performance
 YTD - 20172016201520142013
Fund2.3%14.1%-3.6%2.2%7.6%
Sector1.5%11.2%-0.1%4.4%6.8%
Rank within sector7 / 584 / 5648 / 5435 / 4928 / 49
Quartile1st1st4th3rd3rd
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.
-1.88
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.
1.21
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.
0.12
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%.
5.79
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.
2.47
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.
-0.35
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.
0.84
Price movement
52 week high408.6
52 week low349.8
Current bid price404.2
Current offer price404.2
Current mid price-
Region
1International91.95%
2UK4.82%
3Money Market3.23%
Industry sector
1B45.99%
2CCC22.11%
3BB21.92%
4Money Market3.23%
5CC2.83%
6BBB1.74%
7Non-Rated1.45%
8D0.55%
9A0.19%
Asset type
1Global Corporate Fixed Interest91.95%
2UK Corporate Fixed Interest4.82%
3Money Market3.23%
Individual holdings
1SPEEDY GROUP HOLDINGS CORP 12% BDS 15/11/17 USD1000 144A1.2%
2CAPSUGEL SA 7% BDS 15/05/19 USD10000.9%
3COLUMBUS INTL INC 7.38% BDS 30/03/21 USD200000144A0.9%
4SPRINT CAPITAL CORP 8.75% BDS 15/3/32 USD1000`144A`0.9%
5CEQUEL COMMUNICATIONS HLG I/CAP CRP 6.375% BDS 15/09/20 USD1000 144A0.8%
6NUFARM 6.375% BDS 15/10/19 USD1000 144A0.8%
7RAYONIER AM PRODUCTS INC 5.5% BDS 01/06/24 USD10000.8%
8SPRINT CORP 7.875% BDS 15/09/23 USD2000 144A0.8%
9STEARNS HOLDINGS INC 9.375 15/08/200.8%
Management
Fund manager group
Friends Life
Fund manager company
Friends Life
Fund type
Pension Fund
Fund objective
AXA state that the aim of the fund is to provide long-term high yield returns through investing in a broadly diversified portfolio of sub-investment grade bonds. The policy is to invest principally in fixed income securities which are issued by governments or companies. Investment is anywhere in the world. The fund may also invest in transferable securities, derivatives, money market instruments, deposits, collective investment schemes and cash holdings. The manager may use investment techniques to protect the value of the fund, including using interest rate futures and forward contracts in order to reduce the risks otherwise associated with making investments in currencies other than the fund's accounting currency. The manager may also use derivatives for the purposes of meeting the objective.
Benchmark
  • BofA ML Global High Yield
Investment style
High Yield
Investment method
No data available.
Fund managers
NameSinceBiography
James Gledhill01/08/2012James joined AXA IM in June 2011 and has over 22 years’ investment experience. He joined AXA IM from Henderson New Star, where he spent 10 years. During his time there he successfully launched and built their retail fixed income business (from nil to circa £3bn in assets in a competitive retail environment), and was appointed Head of Fixed Income in 2007. Between 1992 and 2001, he worked for M&G and Prudential M&G, managing flagship High Yield and Corporate Bond Funds. He holds a degree from Oxford University.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
FL AXA Global High Income EP
Initial charge-
Annual charge0.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.63%
Bid price404.2
Offer price404.2
Mid price-
CurrencyGBX
Price updated23/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeG1I8
FL AXA Global High Income EP S3
Initial charge-
Annual charge0.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.63%
Bid price404.4
Offer price404.4
Mid price-
CurrencyGBX
Price updated23/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeG1F7
Data provided by

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Moneywise and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Financial Express. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.