Fact sheet: FL F&C FxdAnnty Cnvrn XE/IE Pn

Fund information
Fund name
FL F&C Fixed Annuity Conversion XE/IE Pn
Fund manager company
Friends Life
Fund type
Pension Fund
Fund managers
  • Alex Soulsbysince 07/06/2012
  • Robert Crewesince 07/06/2012
Underlying fund
F&C Fixed Annuity Conversion
Fund objective
F&C state that the objective of the fund is to provide a total return and to match a benchmark based on fixed annuity prices with the aim of reducing the annuity conversion risk for pre-retirement funds. The manager will invest in gilts and inflation linked gilts. The manager may also invest in money market instruments, derivatives and forward transactions. Derivatives may be used for meeting the investment objective of the fund as well for managing the portfolio efficiently.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
11.8%
1 Year rank in sector
7/178
Sector
PN UK Gilts
Yield
-
Fund size
£0m (£0m last year)
Top in this sector
Fund name1 Year
SSgA MPF Idx Lk Gilts >5yrs Net Pn17.2%
AEGON UK Long Gilt Pn13.4%
AXA Wealth Teams Act UK Lg Glts Pn13.3%
Zurich Long Dated Gilt Pn12.3%
FL TMLgGltTra EP12.2%
...more in PN UK Gilts

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.6%-10.7%3.8%11.8%--
Sector-1.6%-7.5%2.2%6.4%20%20.9%
Rank within sector105 / 179165 / 17811 / 1787 / 178--
Quartile3rd4th1st1st
Calendar performance
 YTD - 20162015201420132012
Fund12.7%----
Sector7.8%-0.3%13.3%-4.8%2.3%
Rank within sector13 / 178----
Quartile1st
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.
-
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.
-
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.
-
Price movement
52 week high1.5
52 week low1.18
Current bid price-
Current offer price-
Current mid price1.33
Region
1UK99.6%
2Money Market0.4%
Industry sector
No data available.
Asset type
1UK Fixed Interest99.6%
2Money Market0.4%
Individual holdings
1TREASURY 4.5% GILT 7/9/2034 GBP0.0120.66%
2TREASURY 3.25% GILT 22/01/44 GBP0.0119.95%
3TREASURY 4.25% GILT 07/12/49 GBP0.0115.56%
4TREASURY 4.25% GILT 7/9/39 GBP0.0113.55%
5TREASURY 4.25% GILT 07/12/55 GBP0.0111.09%
6TREASURY 6% 07/12/202810.43%
7TREASURY 5% GILT 20255.62%
8TREASURY 4% GILT 22/01/60 GBP0.012.49%
9TREASURY 3.5% GILT 22/07/68 GBP0.010.3%
Management
Fund manager group
Friends Life
Fund manager company
Friends Life
Fund type
Pension Fund
Fund objective
F&C state that the objective of the fund is to provide a total return and to match a benchmark based on fixed annuity prices with the aim of reducing the annuity conversion risk for pre-retirement funds. The manager will invest in gilts and inflation linked gilts. The manager may also invest in money market instruments, derivatives and forward transactions. Derivatives may be used for meeting the investment objective of the fund as well for managing the portfolio efficiently.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Alex Soulsby07/06/2012Alex Soulsby joined the Group in July 2006 and is Head of Liability Driven Investment. He has spent the last 9 years managing the LDI investments for pensions and insurance clients. Prior to joining, Alex worked at JP Morgan where he spent 8 years as an interest rate specialist, modelling exotic derivatives and subsequently structuring derivatives hedges for UK financial institutions. Alex has a BSc in Economics from LSE and a BA in Philosophy and Politics from the University of Durham.
Robert Crewe07/06/2012
Compliance
UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
FL F&C Fixed Annuity Conversion XE/IE 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 price1.33
CurrencyGBP
Price updated30/11/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeK80H
FL F&C Fixed Annuity Conversion XE/IE Pn Inet
Initial charge-
Annual charge0.54%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.62%
Bid price131.3
Offer price131.3
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeK7YD
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.