Fact sheet: FL Nomura US Hgh Yld Bd Pn

Fund information
Fund name
FL Nomura US High Yield Bond Pn
Fund manager company
Friends Life
Fund type
Pension Fund
Fund manager
  • Steve Kotsensince 30/03/2009
Underlying fund
Nomura US Hg Yld Bd
Fund objective
Nomura state that the objective of this fund is to achieve current yield and capital gains, through investment in a diversified portfolio of primarily high yielding US Dollar denominated Debt and Debt-Related Securities.
Benchmark
  • BofA Merrill Lynch US High Yield Master II Index
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
-
1 Year rank in sector
-
Sector
PN Global Fixed Interest
Yield
-
Fund size
£0m
Top in this sector
Fund name1 Year
FL GM Overseas Bond Pension30.7%
OMW M&G Glbl Government Bond28.9%
Baillie Gifford Emerg Mrkts Bd Pn26.7%
Pru Intnl Bd Pn25.9%
M&G PP International Bond Pn25.7%
...more in PN Global Fixed Interest

Performance snapshot

Holdings snapshot

  • USA82.5%
    Canada4.7%
    Luxembourg2.9%
    France1.6%
    UK1.5%
  • Others25.2%
    Energy16%
    Basic Industries13%
    Media10.2%
    Telecommunications9.6%
  • US Fixed Interest75.7%
    Money Market7.6%
    Canadian Fixed Interest4.7%
    Luxembourg Fixed Interest2.9%
    French Fixed Interest1.6%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.6%-----
Sector-3.3%-2.2%5.6%12.8%18.2%19.5%
Rank within sector3 / 144-----
Quartile1st
Calendar performance
 YTD - 20162015201420132012
Fund-----
Sector12.7%-0.3%6.1%-3.6%3%
Rank within sector-----
Quartile
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.
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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.
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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 high107.2
52 week low100
Current bid price-
Current offer price-
Current mid price103.4
Region
1USA82.54%
2Canada4.73%
3Luxembourg2.89%
4France1.61%
5UK1.52%
6Bermuda1.26%
7Ireland1.21%
8Money Market1.15%
9Cayman Islands1.06%
Industry sector
1Others25.23%
2Energy15.98%
3Basic Industries13.03%
4Media10.22%
5Telecommunications9.55%
6Health Care6.67%
7Technology5.9%
8Leisure5.53%
9Banks4.24%
Asset type
1US Fixed Interest75.68%
2Money Market7.56%
3Canadian Fixed Interest4.73%
4Luxembourg Fixed Interest2.89%
5French Fixed Interest1.61%
6UK Fixed Interest1.6%
7Irish Fixed Interest1.21%
8North American Fixed Interest1.2%
9American Emerging Fixed Interest1.06%
Individual holdings
1SPRINT CAPITAL CORP 8.75% BDS 15/3/32 USD10001.1%
2NUMERICABLE SFR 6% BDS 15/05/22 USD10000.91%
3BOYD GAMING CORP 6.875% BDS 15/05/23 USD10000.82%
4FRONTIER COMMUNICATIONS CORP 11% NTS 15/09/25 USD10000.71%
5NUMERICABLE SFR BDS 01/05/26 USD200000 144A0.7%
6CENTURYLINK INC 7.6% BDS 15/09/39 USD1000 `P`0.64%
7SPRINT CORP 7.875% BDS 15/09/23 USD20000.55%
8CITGO HOLDING INC 10.75% BDS 15/02/20 USD2000 144A0.54%
9LTF MERGER SUB INC 8.5% BDS 15/06/23 USD2000 144A0.54%
Management
Fund manager group
Friends Life
Fund manager company
Friends Life
Fund type
Pension Fund
Fund objective
Nomura state that the objective of this fund is to achieve current yield and capital gains, through investment in a diversified portfolio of primarily high yielding US Dollar denominated Debt and Debt-Related Securities.
Benchmark
  • BofA Merrill Lynch US High Yield Master II Index
Investment style
High Yield
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Steve Kotsen30/03/2009Stephen Kotsen, CFA, is a Managing Director and Portfolio Manager with NCRAM. He joined NCRAM in December 1998 and has been a Portfolio Manager for NCRAM's high yield bond investments since 2000. Upon joining NCRAM he worked as a Credit Analyst primarily responsible for the Gaming, Lodging, Leisure, Metals and Mining, Chemicals, Homebuilding, Building Products, Printing, Publishing, and Shipping industries. From July 1995 until December 1998 he was a portfolio manager at Lazard Freres Asset Management for a $2 billion investment-grade portfolio. Thereafter he became a Generalist High Yield Research Analyst and later managed an $85 million double-B rated high yield portfolio. Mr. Kotsen received his M.B.A. in Finance from Columbia Business School in 1995, and his B.A. in International Relations from Princeton University in 1991. Mr. Kotsen is a CFA Charterholder and a member of The CFA Institute.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
FL Nomura US High Yield 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 price103.4
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN2KU
FL Nomura US High Yield Bond Pn Inet
Initial charge-
Annual charge0.89%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price103.24
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN2KV
Data provided by

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