Fact sheet: FL Schroder UK Corp Bd AP

Fund information
Fund name
FL Schroder UK Corporate Bond AP
Fund manager company
Friends Life
Fund type
Pension Fund
Fund managers
  • Teamsince 05/06/2008
  • Alix Stewartsince 05/06/2008
Underlying fund
Schroder UK Corporate Bond
Fund objective
Schroders state that the fund aims to generate a high income return together with capital growth by investing primarily in fixed income instruments including bonds, notes of fixed and variable interest, preference shares, convertible and other securities issued by government, quasi-government, supranational, bank and corporate entities and derivative instruments. The fund may use forward foreign exchange transactions, credit default swaps, interest rate and government bond futures and other exchange traded and off exchange traded derivative contracts for the purposes of efficient portfolio management and/or meeting the objectives of the fund. The fund’s net exposure to non-investment grade instruments, as determined by the manager, may not exceed 20% of the value. No more than 10% of the fund’s assets can be invested in aggregate in units of collective investment schemes.
Benchmark
  • BofA Merrill Lynch Sterling Non-Gilts
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
9.9%
1 Year rank in sector
29/260
Sector
PN Sterling Corporate Bond
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.
37
Top in this sector
Fund name1 Year
MetLife Fid Corp Bd 20yr Pn16.8%
OMW IPL L&G AAA CrpBdOv15YIx Pn14.8%
BlackRock DC AqOv 15 YCrp BdIx HP14.7%
AEGON Long Core Plus Pn14%
MetLife Fid Corp Bd 16yr Pn14%
...more in PN Sterling Corporate Bond

Performance snapshot

Holdings snapshot

  • UK63.2%
    USA8%
    France7.5%
    Germany4.1%
    Money Market3.8%
  • Financials28.8%
    Industrials26.2%
    Mortgage & Secured Bonds20.8%
    Utilities19.5%
    Money Market3.8%
  • UK Fixed Interest63.2%
    US Fixed Interest8%
    French Fixed Interest7.5%
    German Fixed Interest4.1%
    Money Market3.8%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund2%-1%1.1%9.9%22%43.1%
Sector1.5%-1%0.6%8.2%19.7%38.1%
Rank within sector35 / 264155 / 265102 / 26529 / 26071 / 23550 / 211
Quartile1st3rd2nd1st2nd1st
Calendar performance
 YTD - 20172016201520142013
Fund-0.2%11.3%0.3%10.9%2.9%
Sector-0.3%9.4%0.2%10.5%1%
Rank within sector115 / 26530 / 260135 / 246109 / 23552 / 226
Quartile2nd1st3rd2nd1st
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.
0.21
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.
1.08
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.
0.66
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%.
5.81
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.
0.93
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.
0.76
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 high398.5
52 week low341.3
Current bid price-
Current offer price-
Current mid price380.9
Region
1UK63.17%
2USA8.02%
3France7.49%
4Germany4.11%
5Money Market3.83%
6Italy2.85%
7Netherlands2.66%
8Denmark1.71%
9Spain1.02%
Industry sector
1Financials28.83%
2Industrials26.23%
3Mortgage & Secured Bonds20.76%
4Utilities19.5%
5Money Market3.83%
6Government Agency Bonds0.72%
7Government Bonds0.16%
8Derivatives-0.03%
Asset type
1UK Fixed Interest63.17%
2US Fixed Interest8.02%
3French Fixed Interest7.49%
4German Fixed Interest4.11%
5Money Market3.83%
6Italian Fixed Interest2.85%
7Dutch Fixed Interest2.66%
8Danish Fixed Interest1.71%
9Spanish Fixed Interest1.02%
Individual holdings
1AT&T INC 7% BDS 30/04/40 GBP(VAR)1.9%
2E.ON INTERNATIONAL FINANCE 6.75% MTN 27/01/39 GBP500001.63%
3DIGITAL STOUT HLDGS LLC 4.25% BDS 17/01/25 GBP1000001.49%
4THAMES WATER UTILITIES CAYMAN FIN 5.5% GTD UNWRAP BDS 11/2/41 GBP A1.45%
5NATIONAL GRID GAS FINANCE PLC 2.75% INST 22/09/46 GBP1000001.33%
6BANK OF SCOTLAND PLC 7.281% FXD/FLTG PERP GBP1000 SER`B`REG`S1.27%
7EDF 5.5% BDS 17/10/41 GBP1000001.24%
8ORANGE SA 5.375% BDS 22/11/50 GBP500001.24%
9INTERCONTINENTAL HOTELS GROUP 3.875% NTS 28/11/22 GBP1000001.1%
Management
Fund manager group
Friends Life
Fund manager company
Friends Life
Fund type
Pension Fund
Fund objective
Schroders state that the fund aims to generate a high income return together with capital growth by investing primarily in fixed income instruments including bonds, notes of fixed and variable interest, preference shares, convertible and other securities issued by government, quasi-government, supranational, bank and corporate entities and derivative instruments. The fund may use forward foreign exchange transactions, credit default swaps, interest rate and government bond futures and other exchange traded and off exchange traded derivative contracts for the purposes of efficient portfolio management and/or meeting the objectives of the fund. The fund’s net exposure to non-investment grade instruments, as determined by the manager, may not exceed 20% of the value. No more than 10% of the fund’s assets can be invested in aggregate in units of collective investment schemes.
Benchmark
  • BofA Merrill Lynch Sterling Non-Gilts
Investment style
No data available.
Investment method
No data available.
Fund managers
NameSinceBiography
Team05/06/2008
Alix Stewart05/06/2008Alix Stewart joined Schroders in 2012 as a Credit Portfolio Manager. Prior to joining Schroders Alix worked for UBS Global Asset Management as Head of UK Fixed Interest and before that as fund manager of Global Corporate Bonds. She graduated from University of Leeds with a BSc (Hons) in Economic and Mathematics. Alix has 20 years’ investment experience.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
FL Schroder UK Corporate Bond AP
Initial charge-
Annual charge0.48%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price380.9
CurrencyGBX
Price updated12/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeEX14
FL Schroder UK Corporate 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 price366.3
CurrencyGBX
Price updated12/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeEN75
Data provided by

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