Fact sheet: FL Investec Strlg Mny EP

Fund information
Fund name
FL Investec Sterling Money EP Gr
Fund manager company
Friends Life
Fund type
Pension Fund
Fund managers
  • Russell Silberstonsince 01/03/2012
  • Johan Du Plessissince 01/03/2017
Underlying fund
Investec Sterling Money
Fund objective
Investec state that the fund aims to generate a Sterling income return at the rate available in the wholesale Eurocurrency market (the market in which currencies are borrowed and lent outside of the country in which those currencies are legal tender, e.g. a bank outside of the US borrowing or lending US Dollars). The Eurocurrency market has no connection with the Euro or the European Union. The fund is a short-term money market fund and while it aims to preserve capital, this is not guaranteed. The fund normally invests in bank deposits repayable within six months and money market instruments with a lifespan of up to one year. The average lifespan of the bank deposits held does not normally exceed 90 days. The fund is able to invest anywhere in the world. The fund’s investments are priced or hedged back into Sterling. The manager is free to choose how the fund is invested and does not manage it with reference to an index.
Benchmark
  • LIBOR LIBID GBP 1w
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
-0.3%
1 Year rank in sector
193/246
Sector
PN Money Market
Yield
-
Fund size
£6m (£6m 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.
1
Bid price
114.3
Offer price
114.3
Top in this sector
Fund name1 Year
ReAssure HL FxIntPn Stf Pn11.3%
ReAssure HL FxIntPnStf LS Pn11.3%
Phoenix Fixed Int Individual Pn9.9%
Zurich BlackRock EurLiq Fst Pn5.7%
Phoenix Prop Old Bldg Society Pn4.7%
...more in PN Money Market

Performance snapshot

Holdings snapshot

  • Money Market100%
  • Certificates of Deposit38.8%
    Commercial Paper27.7%
    Government Bonds22.8%
    Money Market10.7%
  • Money Market100%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund--0.1%-0.2%-0.3%-0.1%-
Sector-0%0%-0%0.5%1.1%1.6%
Rank within sector64 / 249178 / 249192 / 247193 / 246140 / 229102 / 216
Quartile2nd3rd4th4th3rd2nd
Calendar performance
 YTD - 20172016201520142013
Fund-0.1%-0.3%0.2%0.1%0.1%
Sector0%0.7%0%0.4%0.2%
Rank within sector169 / 249183 / 24271 / 23082 / 22676 / 220
Quartile3rd4th2nd2nd2nd
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.
-0.09
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.
0.17
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%.
0.14
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.
0.25
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.
-1.57
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.
0.11
Price movement
52 week high114.6
52 week low114.3
Current bid price114.3
Current offer price114.3
Current mid price-
Region
1Money Market100%
Industry sector
1Certificates of Deposit38.8%
2Commercial Paper27.7%
3Government Bonds22.8%
4Money Market10.7%
Asset type
1Money Market100%
Individual holdings
1UNITED KINGDOM OF GREAT BRITAIN 08 MAY 17 TBS5.6%
2UNITED KINGDOM OF GREAT BRITAIN 10 APR 17 TBS4.7%
3UNITED KINGDOM OF GREAT BRITAIN 15 MAY 17 TBS3.6%
4ABBEY NATIONAL TREASURY 07 JUN 17 0.27 COD2.9%
5CREDIT INDUSTRIEL ET COMMERCIA 07 JUN 17 0.3 COD2.9%
6MITSUBISHI TRUST & BANKING CORP 0.32% CT OF DEP 30/05/17 GBP12.9%
7NORDEA GROUP 22 JUN 17 0.25 COD2.9%
8SUMITOMO MITSUI BANKING CP EUR 08 JUN 17 0.345 COD2.9%
9SUMITOMO TRUST BANKING CO 23 JUN 17 0.3 COD2.9%
Management
Fund manager group
Friends Life
Fund manager company
Friends Life
Fund type
Pension Fund
Fund objective
Investec state that the fund aims to generate a Sterling income return at the rate available in the wholesale Eurocurrency market (the market in which currencies are borrowed and lent outside of the country in which those currencies are legal tender, e.g. a bank outside of the US borrowing or lending US Dollars). The Eurocurrency market has no connection with the Euro or the European Union. The fund is a short-term money market fund and while it aims to preserve capital, this is not guaranteed. The fund normally invests in bank deposits repayable within six months and money market instruments with a lifespan of up to one year. The average lifespan of the bank deposits held does not normally exceed 90 days. The fund is able to invest anywhere in the world. The fund’s investments are priced or hedged back into Sterling. The manager is free to choose how the fund is invested and does not manage it with reference to an index.
Benchmark
  • LIBOR LIBID GBP 1w
Investment style
No data available.
Investment method
No data available.
Fund managers
NameSinceBiography
Russell Silberston01/03/2012Russell is the head of Reserve Management, with primary responsibility for managing active interest rate and currency decisions in developed markets. Prior to joining Investec Asset Management, Russell worked for Cazenove Fund Management where he was a fixed income portfolio manager responsible for sterling treasury management services and UK, US and euro short interest rate forecasts. Before joining Cazenove in 2001, Russell worked for Investec Asset Management where his responsibilities included running multi-currency money market funds and non-sterling short dated cash plus products. Prior to that, Russell worked for Investec Bank where he ran a proprietary trading desk. From 1986 to 1995 Russell worked for Clive Discount Co. Ltd. where he traded a wide variety of on and off-balance sheet instruments. Russell started his City career at Samuel Montagu & Co. in 1982.
Johan Du Plessis01/03/2017
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
FL Investec Sterling Money EP Gr
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.63%
Bid price114.3
Offer price114.3
Mid price-
CurrencyGBX
Price updated20/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeW328
Data provided by

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