Fact sheet: FL Index-Linked AP

Fund information
Fund name
FL Index-Linked AP
Fund manager company
Friends Life
Fund type
Pension Fund
Fund managers
  • Orla Garveysince 19/11/2015
  • Edward Hutchingssince 19/11/2015
No data available.
Fund objective
The fund aims to achieve long-term growth which at least keeps pace with inflation from a combination of income generation and capital growth. The fund invests almost entirely in index-linked gilts and other index-linked securities and may also invest in UK fixed interest securities and index-linked bonds of other governments. Any foreign currency exposure is typically hedged back to Sterling. The fund can also invest in money market instruments and short-term bonds.
Benchmark
  • FTSE Actuaries UK Index-Linked Over 5 Years
Investment style
Active
Investment method
None
Quick stats
1 Year return
14%
1 Year rank in sector
82/147
Sector
PN UK Index - Linked Gilts
Yield
-
Fund size
£139m (£110m 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.
90
Top in this sector
Fund name1 Year
SSgA Uk Idx Lkd Gilt Mar 2062 Pn22.9%
SSgA UK Idx Lkd Gilt Nov2055 Pn18.5%
FL TEAMS IL Glt Tckr EP18.2%
SSgA UK Idx Lkd Glt Mar 2050 Pn17.5%
SSgA MPF Ovr 15Y IL Gilt Pn17.4%
...more in PN UK Index - Linked Gilts

Performance snapshot

Holdings snapshot

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-5.8%-6.2%12.2%14%37.4%48.5%
Sector-6%-7.6%12.4%13.7%36.2%43.8%
Rank within sector32 / 15218 / 15198 / 15182 / 14782 / 13736 / 120
Quartile1st1st3rd3rd3rd2nd
Calendar performance
 YTD - 20162015201420132012
Fund18.6%-0.9%18.4%1.1%0.6%
Sector18.5%-1.5%18.7%0.1%-0.1%
Rank within sector91 / 14824 / 14190 / 13712 / 12918 / 120
Quartile3rd1st3rd1st1st
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.
0.17
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
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.
0.71
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%.
11.53
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.
1.72
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.
0.07
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.
0.98
Price movement
52 week high363.7
52 week low275.7
Current bid price-
Current offer price-
Current mid price328.4
Region
No data available.
Industry sector
1AA99.98%
2Money Market0.02%
Asset type
1UK Index-Linked94.75%
2UK Gilts5.23%
3Money Market0.02%
Individual holdings
1TREASURY 0.125% IDX LKD GILT 22/03/26 GBP0.0116.1%
2TREASURY 1.25% IDX-LKD GILT 22/11/32 GBP0.0112.67%
3TREASURY 0.25% IDX LKD GILT 22/3/52 GBP0.019.45%
4TREASURY 0.125% IDX LKD GILT 22/03/58 GBP0.019.02%
5TREASURY 0.625% IDX-LKD GILT 22/11/42 GBP8.5%
6TREASURY 1.125% IDX GILT 22/11/37 GBP8.03%
7TREASURY 0.75% IDX LKD GILT 22/11/47 GBP7.55%
8TREASURY 0.125% GILT 22/03/68 GBP0.017.35%
9TREASURY 1.875% IDX LKD GILT 22/11/22 GBP5.21%
Management
Fund manager group
Friends Life
Fund manager company
Friends Life
Fund type
Pension Fund
Fund objective
The fund aims to achieve long-term growth which at least keeps pace with inflation from a combination of income generation and capital growth. The fund invests almost entirely in index-linked gilts and other index-linked securities and may also invest in UK fixed interest securities and index-linked bonds of other governments. Any foreign currency exposure is typically hedged back to Sterling. The fund can also invest in money market instruments and short-term bonds.
Benchmark
  • FTSE Actuaries UK Index-Linked Over 5 Years
Investment style
Active
Investment method
None
Fund managers
NameSinceBiography
Orla Garvey19/11/2015Orla joined SWIP in February 2010 as a Trainee Fund Manager in the Global Rates team. She focuses on Gilt and Index Linked Gilt portfolios. Prior to joining SWIP, Orla spent a year with the Representative Church Body in Ireland actively managing both a bond and UK & Irish equity portfolio. Orla has also spent two years as an equity analyst at NCB Stockbrokers in Dublin. Orla holds an MSc in Statistics from University College Dublin, as well as a BSc Financial and Actuarial Maths from Dublin City University.
Edward Hutchings19/11/2015Edward joined the investment industry in 2002 and Aviva Investors in 2004.He Carries out key analytical research of G4 markets and assists in the management of gilt and European government funds.Ed joined Aviva Investors in 2004 after one year of working for Pavilion Asset Management as a performance analyst.He holds a BA (Hons) in International Finance and Capital Markets from Brighton University. Ed also holds the CFA Society of the UK, Investment management Certificate and is a CFA charterholder.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
FL Index-Linked AP
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 price328.4
CurrencyGBX
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeAJ64
FL Index-Linked AP 1
Initial charge-
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1%
Bid price1037.8
Offer price1092.4
Mid price-
CurrencyGBX
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeQP12
FL Index-Linked AP 1 Cap
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price325.2
Offer price342.3
Mid price-
CurrencyGBX
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeQP25
FL Index-Linked AP 4 Acc
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price992.7
Offer price1044.9
Mid price-
CurrencyGBX
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeEQ25
FL Index-Linked AP 5 Acc
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price1236.6
Offer price1301.7
Mid price-
CurrencyGBX
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeAB67
FL Index-Linked AP 8 Acc
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price1236.6
Offer price1301.7
Mid price-
CurrencyGBX
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeEQ98
FL Index-Linked AP Inet
Initial charge-
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price286
CurrencyGBX
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeG788
Data provided by

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