Fact sheet: FL M&G GblConvertibles EP

Fund information
Fund name
FL M&G Global Convertibles EP
Fund manager company
Friends Life
Fund type
Pension Fund
Fund managers
  • David Romanisince 01/10/2013
  • Leonard Vinvillesince 13/07/2007
  • Yannis Karachaliossince 01/10/2013
Underlying fund
M&G Gbl Convertibles
Fund objective
M&G state that the aim of the fund is to maximise long term total return to investors by investing mainly in global convertible assets. The fund's policy is to seek to maximise the risk-reward profile through investment in convertible assets whose issuers may be in any country, including emerging markets. Global convertible assets includes all assets that either directly or via a combination of instruments achieve exposure of a convertible bond nature. Such exposure can be achieved by investing directly or through the use of derivative instruments. Additionally, derivative instruments may be used to manage the risk characteristics of the fund. The remainder of the fund may be invested in securities in support of the fund objective, such as, equities, bonds, collective investment schemes, derivative instruments, money market instruments, cash and near cash.
Benchmark
  • UBS Global Focus Convertible Bond Idx
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
16.3%
1 Year rank in sector
150/537
Sector
PN Specialist
Yield
-
Fund size
£0m (£0m 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.
85
Bid price
355.7
Offer price
355.7
Top in this sector
Fund name1 Year
SIP Sanlam Gbl Fin Pn47.2%
Scot Eq Technology Pn44.7%
FL AXA Framlington Gbl Tech AP43.9%
Zurich AXAFramGblTechPn43%
FL AXA Fram Gbl Tech EP42.4%
...more in PN Specialist

Performance snapshot

Holdings snapshot

  • USA36.1%
    Netherlands11.4%
    Germany9.1%
    Money Market4.8%
    Mexico4%
  • Technology22.5%
    Financials12.6%
    Industrials11.1%
    Basic Materials9.8%
    Health Care8.9%
  • US Fixed Interest36.1%
    Dutch Fixed Interest11.4%
    German Fixed Interest9.1%
    Money Market4.8%
    Mexican Fixed Interest4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-2.3%-1.1%-1.1%16.3%35.5%61.6%
Sector-1.2%1.6%2%11.5%24.8%42.9%
Rank within sector402 / 560538 / 559493 / 552150 / 537101 / 39886 / 335
Quartile3rd4th4th2nd2nd2nd
Calendar performance
 YTD - 20172016201520142013
Fund-22.3%5%5.7%13.4%
Sector2%11.6%2%7.2%11%
Rank within sector466 / 55698 / 52078 / 455203 / 393118 / 365
Quartile4th1st1st3rd2nd
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.
2.64
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.
1.09
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.
0.9
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%.
8.44
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.
5.46
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.
0.57
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.
0.58
Price movement
52 week high369.6
52 week low296.3
Current bid price355.7
Current offer price355.7
Current mid price-
Region
1USA36.06%
2Netherlands11.38%
3Germany9.06%
4Money Market4.79%
5Mexico4%
6Japan3.94%
7UK3.29%
8Singapore3.14%
9France2.7%
Industry sector
1Technology22.54%
2Financials12.58%
3Industrials11.12%
4Basic Materials9.78%
5Health Care8.94%
6Consumer Services8.37%
7Others5.4%
8Oil & Gas5.06%
9Telecommunications5.02%
Asset type
1US Fixed Interest36.06%
2Dutch Fixed Interest11.38%
3German Fixed Interest9.06%
4Money Market4.79%
5Mexican Fixed Interest4%
6Japanese Fixed Interest3.94%
7UK Fixed Interest3.29%
8Singapore Fixed Interest3.14%
9French Fixed Interest2.7%
Individual holdings
1CITRIX SYSTEMS INC 0.5% CNV BDS 15/04/19 USD10004.52%
2YAHOO INC 0% CNV BDS 01/12/18 USD10003.53%
3PRICELINE GROUP INC (THE) 0.9% NTS 15/09/21 USD10002.74%
4SIEMENS FINANCIERINGSMAAT NV 1.65% NTS 16/08/19 USD2500002.54%
5RAG STIFTUNG 0% CNV BDS 18/02/21(EVONIK)EUR1000002.39%
6TELENOR ASA 0.25% CNV BDS 20/09/19 USD2000002.33%
7NXP SEMICONDUCTORS NV 1% SR NTS 01/12/19 USD10002.13%
8RAG STIFTUNG ZC 2017/16.03.2023 CV1.96%
9CAPITALAND 1.95% CNV BDS 17/10/23 SGD2500001.93%
Management
Fund manager group
Friends Life
Fund manager company
Friends Life
Fund type
Pension Fund
Fund objective
M&G state that the aim of the fund is to maximise long term total return to investors by investing mainly in global convertible assets. The fund's policy is to seek to maximise the risk-reward profile through investment in convertible assets whose issuers may be in any country, including emerging markets. Global convertible assets includes all assets that either directly or via a combination of instruments achieve exposure of a convertible bond nature. Such exposure can be achieved by investing directly or through the use of derivative instruments. Additionally, derivative instruments may be used to manage the risk characteristics of the fund. The remainder of the fund may be invested in securities in support of the fund objective, such as, equities, bonds, collective investment schemes, derivative instruments, money market instruments, cash and near cash.
Benchmark
  • UBS Global Focus Convertible Bond Idx
Investment style
No data available.
Investment method
No data available.
Fund managers
NameSinceBiography
David Romani01/10/2013David Romani was appointed deputy manager of the M&G Global Convertibles Fund in October 2013. David joined M&G in 2005, performing a variety of roles in strategic planning, marketing and client communications before becoming a dedicated convertibles analyst in the Global Convertibles team. Prior to joining M&G, he worked for Prudential and as a consultant to the asset management and life insurance industries. David holds an MBA degree from the University of Chicago and is a CFA charterholder.
Leonard Vinville13/07/2007Léonard Vinville joined M&G in 2002, and since then has been managing the convertibles allocation of the Prudential With Profit Life Fund. He has also been responsible for managing the M&G Global Convertibles Fund since its launch in July 2007. Both funds are run with the same investment approach and with an emphasis on generating strong risk-adjusted returns. Prior to joining M&G, Léonard was head of European convertibles at AGF Asset Management in Paris, where he managed convertibles and French equity mandates. He has an MBA and is qualified as a chartered accountant.
Yannis Karachalios01/10/2013Yannis Karachalios was appointed deputy manager of the M&G Global Convertibles Fund in October 2013, having joined M&G in 2011 as a credit analyst dedicated to the convertible bonds team. He is responsible for the credit analysis of convertible bonds and he has eight years of experience in high yield, leveraged loans and distressed debt. Yannis previously worked at Alpstar Capital in Geneva. Prior to this, he was a high yield credit analyst at Hermes Fund Managers London. Yannis has an MSc in financial economics from Brunel University.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
FL M&G Global Convertibles EP
Initial charge-
Annual charge1.2%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.36%
Bid price355.7
Offer price355.7
Mid price-
CurrencyGBX
Price updated21/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeI5T1
FL M&G Global Convertibles EP S3
Initial charge-
Annual charge1.2%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.36%
Bid price355.8
Offer price355.8
Mid price-
CurrencyGBX
Price updated21/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeI5T2
Data provided by

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Moneywise and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Financial Express. We believe the data to be correct however you should take care in using any information.

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.