Fact sheet: FL BNYMeARBdCurHdXEPn

Fund information
Fund name
FL BNY Mellon Absolute Return Bond XE Pn
Fund manager company
Friends Life
Fund type
Pension Fund
Fund managers
  • Peter Bentleysince 09/03/2012
  • Andrew Wickhamsince 09/03/2012
Underlying fund
BNY Mellon Abs Rtn Bd
Fund objective
BNY Mellon state that the fund aims to provide a positive absolute return in all market conditions by investing primarily in debt and debt-related securities and instruments located worldwide and the fund aims to deliver cash 3 month GBP LIBOR + 3% on a rolling annualised 3 year basis before fees. In doing so, the Fund aims to achieve a positive return over a rolling 12 month period. However, a positive return is not guaranteed and a capital loss may occur. Derivatives may be used for investment purposes and exposure to currencies may be hedged.
Benchmark
  • 3 Month GBP LIBOR + 3%
Investment style
Absolute Return
Investment method
Fixed Interest
Quick stats
1 Year return
-
1 Year rank in sector
-
Sector
PN Specialist
Yield
-
Fund size
£2m (£1m last year)
Top in this sector
Fund name1 Year
OMW Neptune Rus + Grtr Rus48.9%
ReAssure AL NptRu&GtrRus Pn48.8%
L&G Nep Russia&Gtr Russia Pn48.2%
OMW InvescoPerpetualEmgEurpn44.4%
Scot Eq JPM Emg Eur Eq Pn43.8%
...more in PN Specialist

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.8%1.2%2.1%---
Sector-0%-0.1%6.8%9.4%21.6%42.3%
Rank within sector125 / 546137 / 545371 / 531---
Quartile1st2nd3rd
Calendar performance
 YTD - 20162015201420132012
Fund-----
Sector9.3%2%7.2%11%7.7%
Rank within sector-----
Quartile
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.
-
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.
-
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.
-
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%.
-
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.
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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.
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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.
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Price movement
52 week high1.02
52 week low0.99
Current bid price-
Current offer price-
Current mid price1.02
Region
1Money Market92.1%
2UK15.5%
3Netherlands9.6%
4France7.4%
5Not Specified6%
6Switzerland4.1%
7Italy3.2%
8Australia2.1%
9Ireland2%
Industry sector
1A1%
2BBB0.8%
3AA0.1%
4BB0.1%
Asset type
No data available.
Individual holdings
1US Ultra Bond Cbt Dec1675.32%
2EURO-BUND FUTURE DEC1627.67%
3US 10YR NOTE (CBT) DEC201613.3%
4EURO-BOBL FUTURE  DEC169.77%
5LLOYDS BA FRN 08/21/17-9.77%
6NATIONWID FRN 11/02/18-11.3%
7US TSY I/ 1.38% 15/44 IFL-20.76%
8INSIGHT GFII-EMRG MKTS DB-31.95%
9 US TSY I/ 0.75% 15/45 IFL-52.02%
Management
Fund manager group
Friends Life
Fund manager company
Friends Life
Fund type
Pension Fund
Fund objective
BNY Mellon state that the fund aims to provide a positive absolute return in all market conditions by investing primarily in debt and debt-related securities and instruments located worldwide and the fund aims to deliver cash 3 month GBP LIBOR + 3% on a rolling annualised 3 year basis before fees. In doing so, the Fund aims to achieve a positive return over a rolling 12 month period. However, a positive return is not guaranteed and a capital loss may occur. Derivatives may be used for investment purposes and exposure to currencies may be hedged.
Benchmark
  • 3 Month GBP LIBOR + 3%
Investment style
Absolute Return
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Peter Bentley09/03/2012Peter joined Insight in January 2008 as Head of UK Credit. Prior to joining Insight, Peter spent four years at Pimco Europe where he was a Senior Vice President portfolio manager responsible for the management and strategy of credit funds. Peter holds a BA honours in Economics and Econometrics from Nottingham University and is an Associate of the CFA Society of the UK.
Andrew Wickham09/03/2012Andrew joined the fixed income team at Insight in October 2003 as a Co-Head of UK Fixed Income, focusing particularly on government portfolio management. In December 2005, he was appointed Head of UK Fixed Income. Andrew worked at Schroders for the previous eight years, developing an extensive understanding of fixed income portfolio management and rising to become Head of Sterling Fixed Income. He joined the fixed income area of Schroders in 1995 and at the end of 2002 he was appointed Head of Sterling Fixed Income. Andrew holds a BSc honours degree and MEng in Electrical Engineering from the University of Bath and is an Associate of the CFA Society of the UK.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
FL BNY Mellon Absolute Return Bond XE Pn
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 price1.0243
CurrencyGBP
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMUZL
FL BNY Mellon Absolute Return Bond XE Pn Inet
Initial charge-
Annual charge1.15%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.26%
Bid price-
Offer price-
Mid price1.0137
CurrencyGBP
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMUZM
Data provided by

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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.