Fact sheet: FL BG Inv Grade Bd EP

Fund information
Fund name
FL Baillie Gifford Investment Grade Bond EP
Fund manager company
Friends Life
Fund type
Pension Fund
Fund manager
  • Stephen Rodgersince 30/11/2001
Underlying fund
Baillie Gifford Inv Grd Bd
Fund objective
The objective is to produce attractive returns over the long term, while achieving a higher level of income than would be available from investment only in comparable UK Gilts, by investing primarily in a diversified portfolio of investment grade fixed interest securities denominated in sterling. Currency forwards and derivatives may be used from time to time in keeping with the Fund’s objective with the intention of either protecting or enhancing the return on the Fund. No more than 10% in value of the property of the Fund will be invested in units of other collective investment schemes. More than 35% in value of the property of Baillie Gifford Investment Grade Bond Fund may be invested in Government and public securities (“GAPS”):- (a) issued by, or on behalf of, the same person provided that person is among the Government of the United Kingdom, of Northern Ireland, or of Eire, France, Germany, Luxembourg, Netherlands, Belgium, Denmark, Italy, Spain, Portugal, Greece, Austria, Finland, Sweden, Iceland, Norway, Liechtenstein, Australia, Canada, Japan, New Zealand, Switzerland or the United States of America; the International Bank for Reconstruction and Development (“the World Bank”), the European Investment Bank, the European Bank for Reconstruction and Development, the International Finance Corporation, or the Inter-American Development Bank;and/or(b) guaranteed by the same person, provided that that person is among the Governments referred to in paragraph (a) above.As at the date of this Prospectus more than 35% in value of the property of Baillie Gifford Investment Grade Bond Fund has been invested in such Government and public securities issued by the European Investment Bank.
Benchmark
  • BofA Merrill Lynch Sterling Non-Gilts
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
8.9%
1 Year rank in sector
138/259
Sector
PN Sterling Corporate Bond
Yield
-
Fund size
£0m (£0m 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.
48
Bid price
335.2
Offer price
335.2
Top in this sector
Fund name1 Year
BlackRock DC AqOv 15 YCrp BdIx HP15.4%
OMW IPL L&G AAA CrpBdOv15YIx Pn15.2%
AEGON UK Long Corporate Bond Pn14.5%
AEGON Long Core Plus Pn14.4%
MetLife Fid Corp Bd 20yr Pn13.8%
...more in PN Sterling Corporate Bond

Performance snapshot

Holdings snapshot

  • UK96.3%
    Money Market3.7%
  • Asset/Mortgage-Backed Securities14.1%
    Others12.7%
    Utilities12.2%
    Fixed Interest10.4%
    Government Guaranteed10.1%
  • UK Fixed Interest96.3%
    Money Market3.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.6%2.2%5.5%8.9%19.4%38.1%
Sector1%2.3%5.3%9.1%20.1%38.4%
Rank within sector216 / 263143 / 262101 / 260138 / 259129 / 230115 / 215
Quartile4th3rd2nd3rd3rd3rd
Calendar performance
 YTD - 20172016201520142013
Fund2.5%8.5%-1.2%13.1%0.4%
Sector3.2%9.4%0.2%10.5%1%
Rank within sector237 / 260170 / 256223 / 24211 / 230153 / 221
Quartile4th3rd4th1st3rd
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.
-0.28
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.
1.03
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.
0.4
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%.
6.48
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.
3.29
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.
-0.05
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.
0.74
Price movement
52 week high341.1
52 week low309.3
Current bid price335.2
Current offer price335.2
Current mid price-
Region
1UK96.3%
2Money Market3.7%
Industry sector
1Asset/Mortgage-Backed Securities14.1%
2Others12.7%
3Utilities12.2%
4Fixed Interest10.4%
5Government Guaranteed10.1%
6Insurance9.5%
7Real Estate7.3%
8Capital Goods5.3%
9Media4.9%
Asset type
1UK Fixed Interest96.3%
2Money Market3.7%
Individual holdings
1ANNINGTON FINANCE 4 5.3236% 20232.4%
2RSA INSURANCE GROUP PLC 5.125% BDS 10/10/45 GBP1000002.3%
3NORTHERN POWERGRID(YORKSHIRE)PLC 2.5% BDS 01/04/25 GBP1000002.2%
4GE CAPITAL UK FUNDING UNLTD CO 8% NTS 14/01/39 GBP20002.1%
5KFW INTERNATIONAL FINANCE INC 6% NOTES 7/12/2028 GBP(VAR)2.1%
6ROLLS-ROYCE PLC 6.75% GTD NTS 30/04/19 GBP500002.1%
7BBC 5.0636% 20332%
8NETWORK RAIL INFRASTRUCTURE FINANCE 4.75% NTS 22/01/24 GBP10002%
9EDF 6% 21141.9%
Management
Fund manager group
Friends Life
Fund manager company
Friends Life
Fund type
Pension Fund
Fund objective
The objective is to produce attractive returns over the long term, while achieving a higher level of income than would be available from investment only in comparable UK Gilts, by investing primarily in a diversified portfolio of investment grade fixed interest securities denominated in sterling. Currency forwards and derivatives may be used from time to time in keeping with the Fund’s objective with the intention of either protecting or enhancing the return on the Fund. No more than 10% in value of the property of the Fund will be invested in units of other collective investment schemes. More than 35% in value of the property of Baillie Gifford Investment Grade Bond Fund may be invested in Government and public securities (“GAPS”):- (a) issued by, or on behalf of, the same person provided that person is among the Government of the United Kingdom, of Northern Ireland, or of Eire, France, Germany, Luxembourg, Netherlands, Belgium, Denmark, Italy, Spain, Portugal, Greece, Austria, Finland, Sweden, Iceland, Norway, Liechtenstein, Australia, Canada, Japan, New Zealand, Switzerland or the United States of America; the International Bank for Reconstruction and Development (“the World Bank”), the European Investment Bank, the European Bank for Reconstruction and Development, the International Finance Corporation, or the Inter-American Development Bank;and/or(b) guaranteed by the same person, provided that that person is among the Governments referred to in paragraph (a) above.As at the date of this Prospectus more than 35% in value of the property of Baillie Gifford Investment Grade Bond Fund has been invested in such Government and public securities issued by the European Investment Bank.
Benchmark
  • BofA Merrill Lynch Sterling Non-Gilts
Investment style
No data available.
Investment method
No data available.
Fund manager
NameSinceBiography
Stephen Rodger30/11/2001Stephen graduated BSc (Hons) in Management Science from the University of St Andrews in 1990 and an MA in Accounting and Finance from the London School of Economics in 1994. He joined Baillie Gifford in 2000 and is Head of the Credit Team. Stephen became a Partner in 2008.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
FL Baillie Gifford Investment Grade Bond EP
Initial charge-
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.88%
Bid price335.2
Offer price335.2
Mid price-
CurrencyGBX
Price updated25/05/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeBRO2
FL Baillie Gifford Investment Grade Bond EP S3
Initial charge-
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.88%
Bid price335.2
Offer price335.2
Mid price-
CurrencyGBX
Price updated25/05/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeBRO3
Data provided by

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