Fact sheet: Fidelity US Loan

Fund information
Fund name
Fidelity US Loan Hedged GBP
Fund manager company
Fidelity (FIL Inv Mgt IRL Ltd)
Fund type
No data available.
Fund managers
  • Kevin Nielsensince 07/09/2014
  • Eric Mollenhauersince 07/09/2014
Fund objective
The Fund aims to achieve attractive returns through high current income and capital appreciation.The Fund will invest primarily in a diversified portfolio of listed or unlisted leveraged loans and other fixed or floating rate securities issued by US domiciled or companies operating in the US. The Fund may invest globally in listed or unlisted high yield bonds and non-US debt. The Fund may also invest globally in listed or unlisted fixed income and equity instruments, loans and other fixed and floating rate securities, money market instruments, cash and deposits.The term ‘leveraged loan’ refers to debt issued by companies with below investment grade credit ratings. Leveraged loans are typically secured with a lien on the company’s assets and are generally senior to the company’s other debt.For cash management purposes the Fund may invest un-invested cash up to 15% of Net Asset Value into a short-term money market fund domiciled in Ireland and managed by Fidelity and regulated by the Central Bank. A management charge of up to 1 per cent per annum of the Net Asset Value of the short-term money market fund shall apply.
Benchmark
  • S&P/LSTA LEVERAGED LOAN INDEX
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
4.9%
1 Year rank in sector
1/4
Sector
FO Fixed Int - USD Securitised
Yield
-
Fund size
£0m
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.
18
Top in this sector
Fund name1 Year
Fidelity US Loan4.9%
GAM Star MBS Ttl Rtn4%
Manulife US Treas Infln Ptd Sec2.4%
BNP Paribas FlexIUSMrtg1.2%
Allianz ShDrGblREBd-
...more in FO Fixed Int - USD Securitised

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund1%0.6%1.8%4.9%--
Sector-0.7%-0.7%0.8%2.4%6.6%12.8%
Rank within sector1 / 62 / 52 / 51 / 4--
Quartile1st2nd2nd1st
Calendar performance
 YTD - 20162015201420132012
Fund5.8%0.4%---
Sector3.2%-1.8%5.3%-2.5%8%
Rank within sector1 / 43 / 4---
Quartile1st3rd
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.
-
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.
-
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 high102.47
52 week low95.39
Current bid price-
Current offer price-
Current mid price97.74
Region
No data available.
Industry sector
No data available.
Asset type
No data available.
Individual holdings
No data available.
Management
Fund manager group
Fidelity
Fund manager company
Fidelity (FIL Inv Mgt IRL Ltd)
Fund type
No data available.
Fund objective
The Fund aims to achieve attractive returns through high current income and capital appreciation.The Fund will invest primarily in a diversified portfolio of listed or unlisted leveraged loans and other fixed or floating rate securities issued by US domiciled or companies operating in the US. The Fund may invest globally in listed or unlisted high yield bonds and non-US debt. The Fund may also invest globally in listed or unlisted fixed income and equity instruments, loans and other fixed and floating rate securities, money market instruments, cash and deposits.The term ‘leveraged loan’ refers to debt issued by companies with below investment grade credit ratings. Leveraged loans are typically secured with a lien on the company’s assets and are generally senior to the company’s other debt.For cash management purposes the Fund may invest un-invested cash up to 15% of Net Asset Value into a short-term money market fund domiciled in Ireland and managed by Fidelity and regulated by the Central Bank. A management charge of up to 1 per cent per annum of the Net Asset Value of the short-term money market fund shall apply.
Benchmark
  • S&P/LSTA LEVERAGED LOAN INDEX
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Kevin Nielsen07/09/2014Kevin Nielsen is a portfolio manager at Fidelity Investments. In this role, he co-manages Fidelity Floating Rate High Income Fund.Before assuming his current position in September 2013, Kevin was a research analyst in Fidelity Investments’ High Income division, from 2006 to 2013. Before joining Fidelity in 2006, he worked as a research analyst at W.R. Huff Asset Management from 2002 to 2006, as an acquisition analyst at Vornado Realty Trust from 1998 to 2000, and as an analyst at GE Capital from 1994 to 1998. He has been in the industry since 1994.Kevin earned a BA in government from Dartmouth College and an MBA in finance and strategy from Northwestern University’s Kellogg School of Management. He is also a Chartered Financial Analyst (CFA) charterholder.
Eric Mollenhauer07/09/2014Eric Mollenhauer is a portfolio manager for Fidelity Investments. He co-manages Fidelity Floating Rate High Income Fund and, for U.S. investors, Fidelity Advisor Floating Rate High Income Fund. He is also the portfolio co-manager of Pyramis Floating Rate High Income Commingled Pool, which is available to institutional investors, and all of Fidelity’s collateralized loan obligation strategies.Eric joined the High Income division at Fidelity Asset Management in 1995 as a research analyst, covering the paper, entertainment and leisure, gaming and lodging, services, homebuilding, and printing and publishing industries. In July 2003, he became Director of High-Yield Research, a position he held until 2006. In this role, he was responsible for overseeing Fidelity’s high-yield research professionals and resources and managing a number of high-yield bond portfolios. Eric received a BA in business administration from Gordon College in 1993. He is a Chartered Financial Analyst (CFA) charterholder.
Compliance
Transparent for Austrian Tax, Reporting Fund Status
Domicile
No data available.
Fund for sale in
Austria, Czech Republic, Germany, Denmark, Spain, Finland, France, United Kingdom, Ireland, Italy, Netherlands, Norway, Offshore, Poland, Sweden
Fidelity US Loan Acc USD
Initial charge-
Annual charge0.55%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price106.89
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKRIH
Fidelity US Loan Hedged EUR
Initial charge-
Annual charge0.55%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price96.154
CurrencyEUR
Price updated07/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKRIF
Fidelity US Loan Hedged GBP
Initial charge-
Annual charge0.55%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price97.743
CurrencyGBP
Price updated07/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKRIG
Fidelity US Loan Hedged JPY
Initial charge-
Annual charge0.55%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10480
CurrencyJPY
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKRIE
Fidelity US Loan Inc USD
Initial charge-
Annual charge0.55%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price98.341
CurrencyUSD
Price updated07/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKRII
Data provided by

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