Fact sheet: Federated High Income Adv

Fund information
Fund name
Federated High Income Advantage A Dis EUR
Fund manager company
Federated International Funds
Fund type
No data available.
Fund managers
  • Mark E. Durbianosince 11/06/1995
Fund objective
The investment objective of Federated High Income Advantage Fund is to provide high current income. The fund pursues its objective by investing, under normal circumstances, primarily in a portfolio of debt securities. These debt securities are expected to be lower-rated corporate debt obligations (rated below “investment grade”), and some may involve equity features.
Benchmark
  • Barclays U.S. Corporate High Yield 2% Issuer Capped Index
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
7.7%
1 Year rank in sector
30/43
Sector
FO Fixed Int - USD High Yield
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.25%
Fund size
£38m (£29m 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.
76
Top in this sector
Fund name1 Year
Candriam GFUS HiYld Corp Bd32.2%
Allianz US HiYd30.7%
Old Mutual MtyInc HiYdBd25.9%
Nomura US Hg Yld Bd13.1%
Morg Stnly US$ HiYd Bd10.9%
...more in FO Fixed Int - USD High Yield

Performance snapshot

Holdings snapshot

  • USA90%
    International7.9%
    Money Market2.1%
  • B45.1%
    CCC25.8%
    BB24.6%
    Money Market2.1%
    BBB1.8%
  • US Fixed Interest90%
    Global Fixed Interest7.9%
    Cash & Cash Equivalents2.1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0%-0.8%3.9%7.7%2.9%-
Sector0.6%0.7%5.2%8.5%8.6%32.8%
Rank within sector36 / 4540 / 4333 / 4330 / 4329 / 34-
Quartile4th4th4th3rd4th
Calendar performance
 YTD - 20162015201420132012
Fund9.9%-4.8%-1.8%1.3%-
Sector10.7%-3.1%0.7%6.2%14.1%
Rank within sector29 / 4325 / 3932 / 3431 / 33-
Quartile3rd3rd4th4th
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.
-2.02
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.
1.07
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%.
5.53
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.
1.48
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.
-1.25
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.
0.93
Price movement
52 week high9.92
52 week low8.73
Current bid price-
Current offer price-
Current mid price9.66
Region
1USA90%
2International7.9%
3Money Market2.1%
Industry sector
1B45.1%
2CCC25.8%
3BB24.6%
4Money Market2.1%
5BBB1.8%
6CC0.6%
Asset type
1US Fixed Interest90%
2Global Fixed Interest7.9%
3Cash & Cash Equivalents2.1%
Individual holdings
1HCA HOLDINGS INC3.3%
2T-MOBILE USA, INC.2.3%
3ALLY FINANCIAL INC2%
4SPRINT CORP1.6%
5TENET HEALTHCARE CORP1.5%
6AERCAP IRELAND CAPITAL LTD/AERCAP GLOBAL AVIATION TRUST1.3%
7COMMUNITY HEALTH SYSTEMS INC(NEW)1.3%
8FIRST DATA CORP.1.2%
9TRANSDIGM, INC1.2%
Management
Fund manager group
Federated International Funds
Fund manager company
Federated International Funds
Fund type
No data available.
Fund objective
The investment objective of Federated High Income Advantage Fund is to provide high current income. The fund pursues its objective by investing, under normal circumstances, primarily in a portfolio of debt securities. These debt securities are expected to be lower-rated corporate debt obligations (rated below “investment grade”), and some may involve equity features.
Benchmark
  • Barclays U.S. Corporate High Yield 2% Issuer Capped Index
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Mark E. Durbiano11/06/1995Mark E. Durbiano has been the Fund's Portfolio Manager for high yield securities since September 1996. Mr. Durbiano joined Federated in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of the Fund's Adviser since 1996. From 1988 through 1995, Mr. Durbiano was a Portfolio Manager and a Vice President of the Fund's Adviser. Mr. Durbiano is a Chartered Financial Analyst and received his M.B.A. in Finance from the University of Pittsburgh
Compliance
Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Belgium, Switzerland, Germany, Spain, France, United Kingdom, Hong Kong, Ireland, Luxembourg, Offshore
Federated High Income Advantage A Acc EUR
Initial charge3%
Annual charge1%
Min single investment£25,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price264.19
CurrencyEUR
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeI8BZ
Federated High Income Advantage A Acc USD
Initial charge3%
Annual charge1%
Min single investment£25,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1%
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price43.01
CurrencyUSD
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFH11
Federated High Income Advantage A Dis EUR
Initial charge3%
Annual charge1.25%
Min single investment£1,500
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1.25%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price9.66
CurrencyEUR
Price updated02/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeI8CD
Federated High Income Advantage I Dis EUR
Initial charge-
Annual charge0.75%
Min single investment£25,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.75%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price9.62
CurrencyEUR
Price updated02/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeI8CB
Federated High Income Advantage I Dis GBP
Initial charge-
Annual charge0.75%
Min single investment£25,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.75%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price9.92
CurrencyGBP
Price updated02/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeI8CC
Federated High Income Advantage I Dis USD
Initial charge-
Annual charge0.75%
Min single investment£25,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.75%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price9.81
CurrencyUSD
Price updated02/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeI8CA
Data provided by

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