Fact sheet: Fidelity Inst Rdcd Dr UK CrpBd

Fund information
Fund name
Fidelity Institutional Reduced Duration UK Corporate Bond Acc
Fund manager company
Fidelity International (FIL In
Fund type
OEIC
Fund manager
  • Ian Fishwicksince 04/06/2013
Fund objective
Aims to provide income and capital growth. Obtains exposure primarily to non-government bonds. Derivatives may be used to reduce interest rate risk in the fund, the use of such techniques may substantially affect the returns achieved. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Investments may be made in relation to bonds issued in currencies other than the fund’s denominated currency. Exposure to currencies may be hedged, for example with currency forward contracts.
Benchmark
  • BOA MERRILL LYNCH EUROSTERLING (HEDGED TO 2 YEARS INTEREST RATE DURATION)
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
3.8%
1 Year rank in sector
80/92
Sector
UT Sterling Corporate Bond
Yield
2.7%
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.
0.45%
Fund size
£17m (£85m 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.
28
Mid price
1091
Top in this sector
Fund name1 Year
Schroder Long Dated Corp Bond12.4%
Newton Long Corporate Bond11.4%
F&C Instl Lg Dtd Corp Bd11.1%
Henderson Inst Long Dat Cr11%
Fidelity Inst UK Lg Crp Bd10.5%
...more in UT Sterling Corporate Bond

Performance snapshot

Holdings snapshot

  • UK62.2%
    France7.9%
    Switzerland5.5%
    Middle East/ Africa5.2%
    Money Market5.1%
  • Government Bonds26%
    Insurance14.3%
    Banks13.8%
    Asset/Mortgage-Backed Securities13.7%
    Utilities12.6%
  • UK Fixed Interest62.2%
    French Fixed Interest7.9%
    European Fixed Interest5.6%
    Swiss Fixed Interest5.5%
    Middle East & African Fixed Interest5.2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.2%-0.1%3.7%3.8%6%-
Sector-1.1%-4.4%2.6%6.3%17.7%34.2%
Rank within sector10 / 972 / 9410 / 9480 / 9283 / 87-
Quartile1st1st1st4th4th
Calendar performance
 YTD - 20162015201420132012
Fund4.5%-0.5%1.3%--
Sector7.5%-0.3%10.1%0.2%12.1%
Rank within sector79 / 9259 / 9086 / 87--
Quartile4th3rd4th
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.
-0.36
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.
0.43
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%.
4.34
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.
4.82
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.
-0.72
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.
0.33
Price movement
52 week high1102
52 week low992.9
Current bid price-
Current offer price-
Current mid price1091
Region
1UK62.19%
2France7.94%
3Switzerland5.52%
4Middle East/ Africa5.24%
5Money Market5.14%
6Europe5.03%
7Latin America4.31%
8USA4.24%
9Australasia4.07%
Industry sector
1Government Bonds25.97%
2Insurance14.29%
3Banks13.75%
4Asset/Mortgage-Backed Securities13.71%
5Utilities12.63%
6Basic Industries6.11%
7Mortgage & Secured Bonds5.79%
8Money Market5.14%
9Property2.65%
Asset type
1UK Fixed Interest62.19%
2French Fixed Interest7.94%
3European Fixed Interest5.56%
4Swiss Fixed Interest5.52%
5Middle East & African Fixed Interest5.24%
6Money Market5.14%
7American Emerging Fixed Interest4.31%
8US Fixed Interest4.24%
9Asia Pacific Fixed Interest4.07%
Individual holdings
1TREASURY 4.25% GILT 07/03/36 GBP0.017.09%
2TREASURY 6% GILT 20284.41%
3EDF 6% UNDATED BDS GBP1000004.13%
4ENGIE SA 5.95% NTS 16/03/11 EUR10003.21%
5TREASURY 2.75% GILT 07/09/24 GBP0.012.93%
6CLYDESDALE BANK 4.625% REG CVD BDS 08/06/26 GBP1000002.86%
7MEXICO(UNITED MEXICAN STATES) 5.625% MTN 19/03/14 GBP1000002.64%
8CHANNEL LINK ENTERPRISES FINANCE TRANCHE`A4`SEC FRN 30/06/50 EUR2.63%
9TREASURY 4.5% GILT 7/9/2034 GBP0.012.47%
Management
Fund manager group
No data available.
Fund manager company
Fidelity International (FIL In
Fund type
OEIC
Fund objective
Aims to provide income and capital growth. Obtains exposure primarily to non-government bonds. Derivatives may be used to reduce interest rate risk in the fund, the use of such techniques may substantially affect the returns achieved. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Investments may be made in relation to bonds issued in currencies other than the fund’s denominated currency. Exposure to currencies may be hedged, for example with currency forward contracts.
Benchmark
  • BOA MERRILL LYNCH EUROSTERLING (HEDGED TO 2 YEARS INTEREST RATE DURATION)
Investment style
None
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Ian Fishwick04/06/2013Ian Fishwick is responsible for managing Fidelity’s sterling bond strategies including separate accounts for institutional investors. Ian has 29 years of investment experience and has worked for Fidelity for the past 9 years. He has been a portfolio manager for over 25 years. Ian has held a range of senior positions within the asset management industry including: Head of UK Fixed Income at Credit Suisse Asset Management, Chief Investment Officer for Sun Life of Canada’s UK asset management business, Head of Fixed Income for Sun Life of Canada, and Portfolio Manager for Confederation Life. He has a Masters Degree in Natural Sciences from Cambridge University and is a Fellow of the Institute of Actuaries.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom, Guernsey
Fidelity Institutional Reduced Duration UK Corporate Bond Acc
Initial charge-
Annual charge0.35%
Min single investment£100,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.45%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1091
CurrencyGBX
Price updated06/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJAVR
Fidelity Institutional Reduced Duration UK Corporate Bond Gr Acc
Initial charge-
Annual charge0.35%
Min single investment£100,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.45%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1119
CurrencyGBX
Price updated06/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJAVQ
Fidelity Institutional Reduced Duration UK Corporate Bond Gr Inc
Initial charge-
Annual charge0.35%
Min single investment£100,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.44%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price994.3
CurrencyGBX
Price updated06/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeJAVS
Fidelity Institutional Reduced Duration UK Corporate Bond Inc
Initial charge-
Annual charge0.35%
Min single investment£100,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.44%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price994.3
CurrencyGBX
Price updated06/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeJAVT
Data provided by

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