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
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
-0.2%
1 Year rank in sector
170/241
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
114.4
Offer price
114.4
Top in this sector
Fund name1 Year
Zurich BlackRock EurLiq Fst Pn19.3%
ReAssure HL FxIntPn Stf Pn9.2%
ReAssure HL FxIntPnStf LS Pn9.2%
Phoenix Fixed Int Individual Pn7.4%
Phoenix Prop Old Bldg Society Pn4.9%
...more in PN Money Market

Performance snapshot

Holdings snapshot

  • Money Market100%
  • Government Bonds42.2%
    Certificates of Deposit41.5%
    Money Market11.5%
    Commercial Paper4.8%
  • Money Market100%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.1%-0.2%-0.2%-0.2%-0.3%
Sector-0.1%-0.1%0.3%0.5%1%1.5%
Rank within sector228 / 247221 / 245204 / 246170 / 241105 / 22589 / 212
Quartile4th4th4th3rd2nd2nd
Calendar performance
 YTD - 20162015201420132012
Fund-0.2%-0.2%0.1%0.1%
Sector0.6%0%0.4%0.2%0.3%
Rank within sector176 / 24295 / 22873 / 22576 / 21999 / 212
Quartile3rd2nd2nd2nd2nd
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.
0.04
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.
0.06
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.
0.28
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.
-1.06
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.
0.01
Price movement
52 week high114.7
52 week low114.4
Current bid price114.4
Current offer price114.4
Current mid price-
Region
1Money Market100%
Industry sector
1Government Bonds42.2%
2Certificates of Deposit41.5%
3Money Market11.5%
4Commercial Paper4.8%
Asset type
1Money Market100%
Individual holdings
1UNITED KINGDOM OF GREAT BRITAIN 07 NOV 16 TBS4.8%
2UNITED KINGDOM OF GREAT BRITAIN 03 OCT 16 TBS4.6%
3UNITED KINGDOM OF GREAT BRITAIN 10 OCT 16 TBS4.2%
4UNITED KINGDOM OF GREAT BRITAIN 24 OCT 16 TBS4.2%
5BANK OF AMERICA CORP 0.35% CT OF DEP 04/01/17 GBP13.6%
6BANK OF MONTREAL 20 DEC 16 0.21 COD3.6%
7DZ BANK AG 03 JAN 17 0.39 COD3.6%
8NORDEA GROUP 15 DEC 16 0.32 COD3.6%
9SUMITOMO TRUST AND BANKING CO 20 DEC 16 0.4 COD3.6%
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.
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 price114.4
Offer price114.4
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeW328
Data provided by

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