Fact sheet: FL GM Sterling Bond Pension

Fund information
Fund name
FL GM Sterling Bond Pension
Fund manager company
Friends Life
Fund type
Pension Fund
Fund manager
  • Chris Highamsince 30/11/2015
Underlying fund
AXA Sterling Strategic Bd
Fund objective
The fund aims to generate returns by gaining exposure generally to the Sterling denominated bond market. Investments will include fixed income securities which are issued by governments or companies. Investment is anywhere in the world but in bonds denominated in Sterling. The fund may invest in securities with a lower credit rating if the returns are attractive. 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 Merrill Lynch Sterling Broad Market
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
6.9%
1 Year rank in sector
112/168
Sector
PN Sterling Strategic Bond
Yield
-
Fund size
£51m (£59m 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.
33
Bid price
2061.4
Offer price
2069.2
Top in this sector
Fund name1 Year
Canlife AXA Fram Mgd Inc Pn13%
OMW AXA Framlington Mgd Inc12.9%
AXA Wealth AXA Fram Mgd Inc Pn12.8%
LV= Artemis High Income Pn12.4%
SJP Corporate Bond Pn12.1%
...more in PN Sterling Strategic Bond

Performance snapshot

Holdings snapshot

  • UK99.4%
    Money Market0.6%
  • AA67.5%
    BBB20.3%
    A7.7%
    AAA2.2%
    BB1.6%
  • UK Gilts58.7%
    Global Corporate Fixed Interest35.2%
    Global Index Linked5.5%
    Money Market0.6%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.5%1.7%1%6.9%22.3%32%
Sector0.4%1.9%1.8%7.5%12.7%33.8%
Rank within sector62 / 174108 / 174121 / 172112 / 1683 / 15793 / 146
Quartile2nd3rd3rd3rd1st3rd
Calendar performance
 YTD - 20172016201520142013
Fund1.2%9.2%0.5%12.4%-2.3%
Sector1.5%6.7%0.7%5.6%5.9%
Rank within sector116 / 17420 / 16888 / 1632 / 156148 / 152
Quartile3rd1st3rd1st4th
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.
3.43
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.
0.83
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.
0.65
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%.
5.2
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.
4.46
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.
0.27
Price movement
52 week high2064.5
52 week low1928.5
Current bid price2061.4
Current offer price2069.2
Current mid price-
Region
1UK99.4%
2Money Market0.6%
Industry sector
1AA67.48%
2BBB20.34%
3A7.7%
4AAA2.24%
5BB1.64%
6Money Market0.6%
Asset type
1UK Gilts58.69%
2Global Corporate Fixed Interest35.18%
3Global Index Linked5.53%
4Money Market0.6%
Individual holdings
1TREASURY 2% GILT 07/09/25 GBP0.017.2%
2TREASURY 4.5% GILT 7/9/2034 GBP0.016.2%
3TREASURY (CPI) NOTE 0.125 07/15/20265.5%
4TREASURY 4.75% GILT 07/12/30 GBP4.8%
5TREASURY 4% GILT 22/01/60 GBP0.014.7%
6TREASURY 1.5% GILT 22/07/26 GBP0.014.1%
7TREASURY 4.25% GILT 7/12/462.6%
8TREASURY 4.25% GILT 07/03/36 GBP0.012.6%
9UK CONV GILT REGS 3.50% 22/01/20452.6%
Management
Fund manager group
Friends Life
Fund manager company
Friends Life
Fund type
Pension Fund
Fund objective
The fund aims to generate returns by gaining exposure generally to the Sterling denominated bond market. Investments will include fixed income securities which are issued by governments or companies. Investment is anywhere in the world but in bonds denominated in Sterling. The fund may invest in securities with a lower credit rating if the returns are attractive. 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 Merrill Lynch Sterling Broad Market
Investment style
None
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Chris Higham30/11/2015Chris Higham is the head of Credit Multi-Strategy Fixed Income. He joined Aviva investors in 2007. Chris oversees a range of bond funds which invest across fixed-income assets, including investment-grade corporates, high-yield corporates, government, and emerging markets bonds. During 2013 the Aviva Investors Managed High Income Fund was awarded the Lipper Fund award within the Bond-Global High Yield category. In 2014 the Aviva Investors Strategic Bond Fund was the winner of the Investment Advisor 100 club Sterling Strategic Bond Fund of the year. Chris has managed the Strategic Bond Fund from launch in 2008. Chris has extensive investment experience. Prior to joining Aviva Investors he worked as a portfolio manager for Old Mutual Asset Managers. He joined the industry as a credit analyst. Chris graduated from Durham University with a BA (Hons) in Economics. He is an associate member of the UK Society Investment Professionals and is a CFA Charterholder.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
FL GM Sterling Bond Pension
Initial charge-
Annual charge0.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.25%
Bid price2061.4
Offer price2069.2
Mid price-
CurrencyGBX
Price updated16/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeQP55
Data provided by

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