Fact sheet: FL Schroder Abs Ret Bd AP

Fund information
Fund name
FL Schroder Absolute Return Bond AP
Fund manager company
Friends Life
Fund type
Pension Fund
Fund managers
  • Paul Graingersince 21/03/2016
  • Thomas Sartainsince 31/07/2016
  • James Lindsay-Fynnsince 31/07/2016
  • Bob Jollysince 30/11/2011
Underlying fund
Schroder Absolute Rtn Bd
Fund objective
Schroders state that the fund’s aim is to achieve a positive return over rolling twelve month periods, in all market conditions. To achieve the objective, the fund will invest primarily in a portfolio of bonds and other fixed and floating rate securities denominated in various currencies issued by governments, government agencies, supra-national and corporate issuers worldwide. The full spectrum of available securities, including non-investment grade, may be utilised. In addition foreign currency strategies may also be employed. Investment will be primarily in directly held transferable securities. The fund may also invest in collective investment schemes, derivatives, cash, deposits, warrants and money market instruments. Derivatives may be used for investment purposes as well as for efficient portfolio management.
Benchmark
  • LIBOR GBP 3m
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
5.3%
1 Year rank in sector
390/530
Sector
PN Specialist
Yield
-
Fund size
£1m (£1m 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.
20
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Performance snapshot

Holdings snapshot

  • USA50.7%
    UK11.9%
    International5.5%
    Sweden4.8%
    Germany3.3%
  • Government Bonds29.8%
    Financials25.1%
    Industrials16.5%
    Asset/Mortgage-Backed Securities11.4%
    Fixed Interest5.5%
  • No data available.

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.8%0.9%2.3%5.3%4.7%13.2%
Sector0.4%3%3.9%13.5%24.2%41.9%
Rank within sector156 / 559424 / 555298 / 550390 / 530340 / 397268 / 334
Quartile2nd4th3rd3rd4th4th
Calendar performance
 YTD - 20172016201520142013
Fund0.8%3.8%-2.3%3.4%2.6%
Sector2.5%11.6%2%7.2%11%
Rank within sector413 / 555386 / 519395 / 455302 / 393277 / 365
Quartile3rd3rd4th4th4th
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.
0.79
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.
0.08
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
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%.
3.02
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.
6.15
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.
-0.89
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.
0.03
Price movement
52 week high282
52 week low265.2
Current bid price-
Current offer price-
Current mid price279.6
Region
1USA50.7%
2UK11.94%
3International5.55%
4Sweden4.8%
5Germany3.34%
6Ireland3.27%
7Canada2.95%
8Mexico2.8%
9France1.84%
Industry sector
1Government Bonds29.75%
2Financials25.15%
3Industrials16.52%
4Asset/Mortgage-Backed Securities11.36%
5Fixed Interest5.55%
6Government Agency Bonds5.48%
7Money Market5.13%
8Local Government Bonds1.94%
9Mortgage & Secured Bonds0.94%
Asset type
No data available.
Individual holdings
1UNITED STATES OF AMER TREAS BILLS 0.125% BDS 15/07/26 USD10022.03%
2SVENSK EXPORTKREDIT AKTIEBOLAGET 1.25% MTN 12/04/19 USD10002.7%
3AFRICAN DEVELOPMENT BANK 1% MTN 15/05/19 USD10002.33%
4ELEMENT RAIL LEASING II2.23%
5TREASURY 1.25% IDX-LKD GILT 22/11/55 GBP0.012.21%
6JPMORGAN CHASE & CO FRN 22/03/19 USD10002.11%
7WELLS FARGO BANK NA 2.15% BDS 06/12/19 USD2500001.88%
8SCHRODER ISF EMERGING MARKET BOND I ACC NAV USD1.84%
9ECAF I1.75%
Management
Fund manager group
Friends Life
Fund manager company
Friends Life
Fund type
Pension Fund
Fund objective
Schroders state that the fund’s aim is to achieve a positive return over rolling twelve month periods, in all market conditions. To achieve the objective, the fund will invest primarily in a portfolio of bonds and other fixed and floating rate securities denominated in various currencies issued by governments, government agencies, supra-national and corporate issuers worldwide. The full spectrum of available securities, including non-investment grade, may be utilised. In addition foreign currency strategies may also be employed. Investment will be primarily in directly held transferable securities. The fund may also invest in collective investment schemes, derivatives, cash, deposits, warrants and money market instruments. Derivatives may be used for investment purposes as well as for efficient portfolio management.
Benchmark
  • LIBOR GBP 3m
Investment style
No data available.
Investment method
No data available.
Fund managers
NameSinceBiography
Paul Grainger21/03/2016Paul Grainger joined Schroders in 2015 as a Senior Portfolio Manager in the Fixed Income team, based in London. His earlier career began in 1995 within the BZW Securities graduate training programme where he rotated through Fixed Income sales and trading and into asset management at Barclays Global Investors. In 1999 he moved to Gartmore as a Senior Portfolio Manager and then moved to F&C Asset Management in 2003. In 2006 he moved to Wellington Management as a Portfolio Manager and latterly in 2014, co-founded a financial technology firm named yoyoDATA before moving to Schroders in 2015. Paul graduated from Exeter University in 1995 with a B.A. in Economics and European Studies and he is a Member of the United Kingdom Society of investment professionals and a CFA Charterholder.
Thomas Sartain31/07/2016Thomas Sartain is UK & European Money Market & Government Bond Fund Manager, based in London.He Joined Schroders in 2005 as fund manager’s assistant on the global fixed income desk. His Financial Markets career commenced in 2003 upon joining Royal Bank of Scotland. He has BA (Hons) degree in Management and Business Administration, University of Reading.
James Lindsay-Fynn31/07/2016
Bob Jolly30/11/2011Bob Jolly is a veteran portfolio manager and head of global macro strategy at Schroders having joined the company in 2011. Previously he worked as head of currency, UK fixed income and global sovereign portfolio management at UBS Global Asset Management. Prior to UBS, Bob spent over two decades at Gartmore Investment Management becoming head of UK, global and structured fixed income portfolio construction.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
FL Schroder Absolute Return Bond AP
Initial charge-
Annual charge0.54%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price279.6
CurrencyGBX
Price updated23/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeBVJ1
FL Schroder Absolute Return Bond AP Inet
Initial charge-
Annual charge1.35%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.47%
Bid price-
Offer price-
Mid price253.1
CurrencyGBX
Price updated23/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeCPH1
Data provided by

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