Fact sheet: FL M&G Gilt & Fixed Int IncAP

Fund information
Fund name
FL M&G Gilt & Fixed Interest Income AP
Fund manager company
Friends Life
Fund type
Pension Fund
Fund managers
  • Jim Leavisssince 30/04/1998
  • Matthew Russellsince 06/07/2015
Underlying fund
M&G Gilt & Fixed Int Inc
Fund objective
M&G state that the aim of the fund is to generate a secure income with stability of capital consistent with investment in gilts. The fund's policy is to invest mainly in short, medium or long-dated gilts according to manager’s view at any given moment of the likely course of interest rates and trend of the gilt-edged market. The fund’s exposure to gilts may be gained through the use of derivatives. The fund may also invest in other assets including collective investment schemes, other transferable securities, other debt instruments, cash and near cash, deposits, warrants, money market instruments and other derivative instruments. The fund may use derivatives for the purposes of efficient portfolio management (including hedging) and investment.
Benchmark
  • IA UK Gilts
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
8.4%
1 Year rank in sector
39/177
Sector
PN UK Gilts
Yield
-
Fund size
£5m (£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.
48
Top in this sector
Fund name1 Year
SSgA MPF Idx Lk Gilts >5yrs Net Pn27.6%
Baillie Gifford Active Lg Gi+ Pn15.8%
FL TMLgGltTra EP15.6%
Zurich Long Dated Gilt Pn15.5%
SSgA MPF UK Over 15 Conv Glt Idx Pn15.4%
...more in PN UK Gilts

Performance snapshot

Holdings snapshot

  • UK90.7%
    International2.7%
    USA2.5%
    Germany2.1%
    Finland1.1%
  • Government Bonds89.2%
    Government Agency Bonds7.3%
    Services2.1%
    Money Market0.8%
    Asset/Mortgage-Backed Securities0.6%
  • UK Gilts96.6%
    UK Equities2.1%
    Money Market0.8%
    UK Fixed Interest0.6%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund1%3.5%1%8.4%24.2%26.8%
Sector1.1%3.3%0.4%7.9%22.6%25.2%
Rank within sector129 / 18256 / 18039 / 18039 / 17740 / 17236 / 161
Quartile3rd2nd1st1st1st1st
Calendar performance
 YTD - 20172016201520142013
Fund1.7%10.3%0.9%12.5%-3%
Sector1.6%9.9%-0.3%13.3%-4.8%
Rank within sector65 / 18036 / 17717 / 17556 / 1707 / 166
Quartile2nd1st1st2nd1st
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.
0.69
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.
0.98
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.
0.57
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%.
7.42
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.
0.94
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.
0.6
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.
0.98
Price movement
52 week high399.6
52 week low352.2
Current bid price-
Current offer price-
Current mid price383.3
Region
1UK90.73%
2International2.72%
3USA2.55%
4Germany2.1%
5Finland1.12%
6Money Market0.78%
Industry sector
1Government Bonds89.21%
2Government Agency Bonds7.35%
3Services2.1%
4Money Market0.78%
5Asset/Mortgage-Backed Securities0.56%
Asset type
1UK Gilts96.56%
2UK Equities2.1%
3Money Market0.78%
4UK Fixed Interest0.56%
Individual holdings
1TREASURY 4.5% GILT 7/9/2034 GBP0.0115.9%
2TREASURY 1.5% GILT 22/07/26 GBP0.0110.34%
3TREASURY 4.75% GILT 20207.65%
4TREASURY 2.75% GILT 07/09/24 GBP0.017.51%
5TREASURY 1.5% GILT 22/07/47 GBP17.06%
6TREASURY 2.5% GILT 22/07/65 GBP0.16.25%
7TREASURY 4.25% GILT 7/9/39 GBP0.016.2%
8TREASURY 1% GILT 07/09/17 GBP0.014.91%
9TREASURY 4.25% GILT 07/06/2032 GBP0.014.03%
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 generate a secure income with stability of capital consistent with investment in gilts. The fund's policy is to invest mainly in short, medium or long-dated gilts according to manager’s view at any given moment of the likely course of interest rates and trend of the gilt-edged market. The fund’s exposure to gilts may be gained through the use of derivatives. The fund may also invest in other assets including collective investment schemes, other transferable securities, other debt instruments, cash and near cash, deposits, warrants, money market instruments and other derivative instruments. The fund may use derivatives for the purposes of efficient portfolio management (including hedging) and investment.
Benchmark
  • IA UK Gilts
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Jim Leaviss30/04/1998Jim Leaviss is Head of Retail Fixed Interest for M&G’s mutual fund range. He joined M&G in 1997 after five years at the Bank of England. As well as heading up the team, Jim is the fund manager of the M&G Global Macro Bond Fund and the M&G European Inflation Linked Corporate Bond Fund. He is also deputy manager of the M&G Gilt & Fixed Interest Income Fund, the M&G Index-Linked Bond Fund and the M&G UK Inflation Linked Corporate Bond Fund.
Matthew Russell06/07/2015Matthew Russell joined M&G in 2007 and was appointed fund manager of the M&G Short Dated Corporate Bond Fund in September 2013, having served as deputy fund manager since 2011. He was also appointed fund manager of the M&G Gilt & Fixed Interest Income Fund in July 2015. Matthew joined M&G as a fund managers’ assistant covering the retail fixed interest fund range. He has a BSc in economics from the University of Birmingham and is also a CFA charterholder.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
FL M&G Gilt & Fixed Interest Income AP
Initial charge-
Annual charge0.64%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price383.3
CurrencyGBX
Price updated25/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeEY84
FL M&G Gilt & Fixed Interest Income AP Inet
Initial charge-
Annual charge1.45%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.61%
Bid price-
Offer price-
Mid price361.4
CurrencyGBX
Price updated25/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeEM50
Data provided by

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