Fact sheet: FL KaAbRebdXEPn

Fund information
Fund name
FL Kames Absolute Return Bond XE 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
2.1%
1 Year rank in sector
381/513
Sector
PN Specialist
Yield
-
Fund size
£0m (£0m last year)
Bid price
102.6
Offer price
102.6
Top in this sector
Fund name1 Year
OMW Neptune Rus + Grtr Rus41.4%
ReAssure AL NptRu&GtrRus Pn40.9%
L&G Nep Russia&Gtr Russia Pn40.7%
Scot Eq JPM Emg Eur Eq Pn36.6%
OMW InvescoPerpetualEmgEurpn36.5%
...more in PN Specialist

Performance snapshot

Holdings snapshot

  • UK44.3%
    USA19.6%
    Australia10.2%
    Not Specified8.9%
    Netherlands7.5%
  • Industrials38.3%
    Financials34.5%
    Utilities14.9%
    Asset/Mortgage-Backed Securities5.4%
    Money Market4.8%
  • UK Fixed Interest51.2%
    US Fixed Interest15.7%
    Dutch Fixed Interest7.5%
    Money Market5.5%
    American Emerging Fixed Interest3.4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.3%1.1%2.1%--
Sector-0.8%-0.9%5.9%8.3%20.4%40.7%
Rank within sector145 / 546148 / 545394 / 531381 / 513--
Quartile2nd2nd3rd3rd
Calendar performance
 YTD - 20162015201420132012
Fund2%----
Sector8.3%2%7.2%11%7.7%
Rank within sector373 / 514----
Quartile3rd
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 high102.7
52 week low99.7
Current bid price102.6
Current offer price102.6
Current mid price-
Region
1UK44.28%
2USA19.6%
3Australia10.17%
4Not Specified8.88%
5Netherlands7.49%
6Money Market5.47%
7Jersey3.75%
8Cayman Islands3.36%
9Denmark3.19%
Industry sector
1Industrials38.3%
2Financials34.5%
3Utilities14.9%
4Asset/Mortgage-Backed Securities5.4%
5Money Market4.8%
6Government Bonds1.2%
7Government Agency Bonds0.9%
Asset type
1UK Fixed Interest51.16%
2US Fixed Interest15.71%
3Dutch Fixed Interest7.49%
4Money Market5.47%
5American Emerging Fixed Interest3.36%
6Danish Fixed Interest3.19%
7French Fixed Interest2.8%
8Swiss Fixed Interest2.1%
9Canadian Fixed Interest1.96%
Individual holdings
1JPMORGAN CHASE & CO 6.128% FR SUB CALL NTS 30/05/17 GBP2.04%
2NATIONAL EXPRESS GROUP 6.25% NTS 13/01/17 GBP500001.98%
3AT&T INC 5.875% NTS 28/04/17 GBP500001.94%
4ANHEUSER-BUSCH INBEV SA/NV 6.5% NTS 23/06/17 GBP10001.92%
5AA BOND CO LTD 4.7201% BDS 02/07/43 GBP1000001.73%
6BSKYB FINANCE UK 5.75% SNR UNS NTS 20/10/17 GBP `REGS`1.72%
7YORKSHIRE WATER SERVICES BRADFD FIN 6% FXD/FLTG RTE NTS 24/04/25 GBP50000 B11.72%
8MELLON CAPITAL III 6.369% BDS 05/09/66 GBP500001.69%
9LLOYDS BANK PLC 10.75% SUBORD FXD NTS 16/12/21 GBP10001.66%
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 is an investment manager in the fixed income team. He joined us in 2000 straight from university. Colin studied Economics and Finance at the University of Strathclyde, and is a CFA charterholder.
Stephen Snowden29/09/2011Stephen is an investment manager in the fixed income team. He rejoined us in 2011 from Old Mutual Asset Managers where he was a fund manager. Stephen studied Finance at Queen’s University, Belfast.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
FL Kames Absolute Return Bond XE Pn
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price102.6
Offer price102.6
Mid price-
CurrencyGBX
Price updated06/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMGXJ
FL Kames Absolute Return Bond XE Pn Inet
Initial charge-
Annual charge0.95%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.99%
Bid price-
Offer price-
Mid price1.0148
CurrencyGBP
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMGXK
Data provided by

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You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.