Fact sheet: FL KaAbReBdPn

Fund information
Fund name
FL Kames Absolute Return Bond Pn
Fund manager company
Friends Life
Fund type
Pension Fund
Fund managers
  • Colin Finlaysonsince 29/09/2011
  • Stephen Snowdensince 29/09/2011
Underlying fund
Kames Abslut Rtrn Bd
Fund objective
Kames Capital state that the objective of the fund is to generate positive absolute returns over a rolling 3 year period, irrespective of market conditions. The fund will seek to achieve its investment objective by investing in global debt instruments in any currency. It may invest in all types of fixed and floating rate fixed income securities, including: investment grade bonds, emerging market debt and high yield bonds. The fund may also invest in derivatives, cash, deposits and money market instruments. The fund may use derivatives for investment purposes as well as for efficient portfolio management.
Benchmark
  • LIBOR GBP 3m
Investment style
Absolute Return
Investment method
Fixed Interest
Quick stats
1 Year return
3.1%
1 Year rank in sector
117/131
Sector
PN Global Fixed Interest
Yield
-
Fund size
£3m (£3m last year)
Top in this sector
Fund name1 Year
Baillie Gifford Emerg Mrkts Bd Pn29.6%
Scot Eq AegonIntcEgMtsLclCrDtPn24.7%
Scot Eq Broker AMR Managed Pn22.3%
OMW M&G Glbl Government Bond20.3%
RLPPC Enhanced IL Pn20.2%
...more in PN Global Fixed Interest

Performance snapshot

Holdings snapshot

  • UK34.1%
    USA28.8%
    Netherlands9.3%
    Australia8.3%
    France6.3%
  • Financials37.2%
    Industrials33.3%
    Utilities15.4%
    Money Market5.6%
    Asset/Mortgage-Backed Securities5%
  • UK Fixed Interest42.9%
    US Fixed Interest20.8%
    Dutch Fixed Interest9.3%
    Money Market5.5%
    American Emerging Fixed Interest3.3%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.1%0.6%0.9%3.1%--
Sector0.3%0.8%-1.5%9.7%20%19.4%
Rank within sector58 / 14349 / 14324 / 139117 / 131--
Quartile2nd2nd1st4th
Calendar performance
 YTD - 20172016201520142013
Fund0.7%1.8%---
Sector0%14.1%-0.3%6.1%-3.6%
Rank within sector22 / 143127 / 129---
Quartile1st4th
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 high103.4
52 week low100.2
Current bid price-
Current offer price-
Current mid price103.3
Region
1UK34.13%
2USA28.8%
3Netherlands9.27%
4Australia8.3%
5France6.32%
6Money Market5.6%
7Germany3.35%
8Cayman Islands3.27%
9Jersey2.83%
Industry sector
1Financials37.2%
2Industrials33.3%
3Utilities15.4%
4Money Market5.6%
5Asset/Mortgage-Backed Securities5%
6Government Bonds2.6%
7Government Agency Bonds0.9%
Asset type
1UK Fixed Interest42.88%
2US Fixed Interest20.83%
3Dutch Fixed Interest9.27%
4Money Market5.55%
5American Emerging Fixed Interest3.27%
6French Fixed Interest3.21%
7Spanish Fixed Interest2.76%
8Swiss Fixed Interest2.38%
9Belgian Fixed Interest2.17%
Individual holdings
1UNITED STATES OF AMER TREAS BILLS 0.125% BDS 15/07/26 USD1002.6%
2JPMORGAN CHASE & CO 6.128% FR SUB CALL NTS 30/05/17 GBP2.15%
3TELEFONICA EMISIONES SAU 5.375% INST 02/02/18 GBP500002.08%
4BG ENERGY CAPITAL 6.5% CAP SECS BDS 30/11/72 GBP1000002.07%
5AT&T INC 5.875% NTS 28/04/17 GBP500002.03%
6AA BOND CO LTD 4.7201% BDS 02/07/43 GBP1000002%
7ANHEUSER-BUSCH INBEV SA/NV 6.5% NTS 23/06/17 GBP10002%
8BANK OF AMERICA CORP 7.75% NTS 30/04/18 GBP500001.99%
9YORKSHIRE WATER SERVICES BRADFD FIN 6% FXD/FLTG RTE NTS 24/04/25 GBP50000 B11.96%
Management
Fund manager group
Friends Life
Fund manager company
Friends Life
Fund type
Pension Fund
Fund objective
Kames Capital state that the objective of the fund is to generate positive absolute returns over a rolling 3 year period, irrespective of market conditions. The fund will seek to achieve its investment objective by investing in global debt instruments in any currency. It may invest in all types of fixed and floating rate fixed income securities, including: investment grade bonds, emerging market debt and high yield bonds. The fund may also invest in derivatives, cash, deposits and money market instruments. The fund may use derivatives for investment purposes as well as for efficient portfolio management.
Benchmark
  • LIBOR GBP 3m
Investment style
Absolute Return
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Colin Finlayson29/09/2011Colin Finlayson is an investment manager in Kames Capital’s Fixed Income team and specialises in global government bonds and relative-value analysis. He is the co-manager of the Kames Absolute Return Fund and Kames Strategic Global Bond Fund as well as the Core Plus and Long Core Plus pooled pension funds. He joined us in 2000 directly from the University of Strathclyde, where he studied Economics and Finance. Colin is a CFA charterholder.
Stephen Snowden29/09/2011Stephen Snowden is Head of Credit in the Fixed Income team. He specialises in investment grade credit and co-manages two investment grade bond funds and an absolute return bond fund. He rejoined Kames Capital in July 2011 from Old Mutual Asset Management where he managed the Corporate Bond Fund. Stephen started his career with us in 1994, initially focusing on equities before moving to the fixed income team to manage corporate bond funds. He has a first class honours degree BSc Finance and an MSc Finance from Queens University Belfast, and is also an associate member of the CFA Society of the UK.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
FL Kames Absolute Return Bond 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 price103.3
CurrencyGBX
Price updated23/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMGXC
FL Kames Absolute Return Bond Pn Inet
Initial charge-
Annual charge0.84%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.88%
Bid price-
Offer price-
Mid price102.04
CurrencyGBX
Price updated23/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMGXE
Data provided by

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