Fact sheet: FundLogic SalarConAbsRtn

Fund information
Fund name
FundLogic Salar Convertible Absolute Return C Mutualised Acc EUR
Fund manager company
FundLogic SAS
Fund type
OEIC
Fund managers
  • David Persaudsince 02/09/2010
  • Alexander Warrensince 02/09/2010
Fund objective
The Fund aims to offer absolute returns with low volatility. The portfolio offers exposure to a collection of outright trades focussed on bonds close to their bond floor and synthetic put trades derived from being long deep in the money convertibles and shorting the underlying stock. It will also take positions when opportunities arise for good risk reward in more balanced convertibles. The nature of the convertible positions is to provide limited and quantifiable downside with exponential upside.
Benchmark
  • No Specified Index
Investment style
Convertible Arbitrage
Investment method
Mixed
Quick stats
1 Year return
-3%
1 Year rank in sector
72/123
Sector
FO Hedge/Stru Prod - Mixed
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.
2.45%
Fund size
£117m (£245m 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.
66
Top in this sector
Fund name1 Year
LFIS VisionPremiaOpps18.7%
Castellain Value17.6%
Avia Altus14.6%
Garraway Garr FT11.1%
Nordea 1 Alpha 1510.6%
...more in FO Hedge/Stru Prod - Mixed

Performance snapshot

Holdings snapshot

  • Japan44%
    Europe & Middle East31%
    USA15%
    New Jersey10%
  • Industrials33%
    Property13%
    Non-Cyclical Consumer Goods11%
    Cyclical Consumer Goods8%
    Technology8%
  • No data available.

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.2%0.2%0.5%-3%-2.2%0.1%
Sector-0.5%-1.2%-0.2%-2.1%3.2%6.9%
Rank within sector36 / 11642 / 14048 / 13772 / 12361 / 8255 / 68
Quartile2nd2nd2nd3rd3rd4th
Calendar performance
 YTD - 20162015201420132012
Fund-2%0.6%-1%0.7%3.2%
Sector-1.3%-0.6%5.1%1.4%1.9%
Rank within sector70 / 12435 / 10876 / 8946 / 8139 / 72
Quartile3rd2nd4th3rd3rd
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.
-1.69
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.
0.8
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%.
3.76
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.
3.39
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.
-0.59
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.
0.19
Price movement
52 week high100.29
52 week low95.33
Current bid price-
Current offer price-
Current mid price97.69
Region
1Japan44%
2Europe & Middle East31%
3USA15%
4New Jersey10%
Industry sector
1Industrials33%
2Property13%
3Non-Cyclical Consumer Goods11%
4Cyclical Consumer Goods8%
5Technology8%
6Basic Materials7%
7Utilities6%
8Financials5%
9Others5%
Asset type
No data available.
Individual holdings
No data available.
Management
Fund manager group
FundLogic
Fund manager company
FundLogic SAS
Fund type
OEIC
Fund objective
The Fund aims to offer absolute returns with low volatility. The portfolio offers exposure to a collection of outright trades focussed on bonds close to their bond floor and synthetic put trades derived from being long deep in the money convertibles and shorting the underlying stock. It will also take positions when opportunities arise for good risk reward in more balanced convertibles. The nature of the convertible positions is to provide limited and quantifiable downside with exponential upside.
Benchmark
  • No Specified Index
Investment style
Convertible Arbitrage
Investment method
Mixed
Fund managers
NameSinceBiography
David Persaud02/09/2010David Persaud joined Ferox in 2008 following a ten year period at JP Morgan London. At JP Morgan David ran the EMEA Convertible Sales and Trading desk, holding the position of Managing Director and overseeing the banks convertible franchise. During this period, the firm regularly topped the new issue underwriting league tables for CB’s. Prior to this he spent two years at BZW on the Convertible Bond desk. David graduated from Bristol University in 1994 with a BSc in Economics and Politics.
Alexander Warren02/09/2010Alexander Warren is a co-founder of Ferox Capital and has 17 years experience in convertibles trading. He graduated from Bristol University and joined Lehman Brothers in London in 1994 as a market-maker in European convertible bonds. In 1996 he joined JP Morgan in London to assist Jeremy Herrmann in establishing the European convertible bond business. In addition to his market-making responsibility he managed the systems and technical set up. From 1997 onwards he focussed primarily on proprietary trading. He left to co-found the Investment Manager in June 2000.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Transparent for German Tax, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Germany, Spain, Finland, France, United Kingdom, Ireland, Italy, Luxembourg, Norway, Offshore, Singapore, Sweden
FundLogic Salar Convertible Absolute Return A CHF
Initial charge-
Annual charge1.5%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.93%
Total expense ratio (TER)1.93%
Bid price-
Offer price-
Mid price97.41
CurrencyCHF
Price updated25/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKTTN
FundLogic Salar Convertible Absolute Return AM Acc EUR
Initial charge-
Annual charge1.5%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.95%
Total expense ratio (TER)1.95%
Bid price-
Offer price-
Mid price99.27
CurrencyEUR
Price updated25/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeMEN5
FundLogic Salar Convertible Absolute Return AM Acc GBP
Initial charge-
Annual charge1.5%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.95%
Total expense ratio (TER)1.95%
Bid price-
Offer price-
Mid price111.13
CurrencyGBP
Price updated25/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeNHE1
FundLogic Salar Convertible Absolute Return AM Acc USD
Initial charge-
Annual charge1.5%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.95%
Total expense ratio (TER)1.95%
Bid price-
Offer price-
Mid price99.49
CurrencyUSD
Price updated25/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code00Z1
FundLogic Salar Convertible Absolute Return AM GBP
Initial charge-
Annual charge1.5%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.95%
Total expense ratio (TER)1.95%
Bid price-
Offer price-
Mid price109.94
CurrencyGBP
Price updated25/11/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeNJN5
FundLogic Salar Convertible Absolute Return AS Acc EUR
Initial charge-
Annual charge1.5%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.95%
Total expense ratio (TER)1.95%
Bid price-
Offer price-
Mid price109.69
CurrencyEUR
Price updated25/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeNFE7
FundLogic Salar Convertible Absolute Return AS Acc USD
Initial charge-
Annual charge1.5%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.95%
Total expense ratio (TER)1.95%
Bid price-
Offer price-
Mid price114.46
CurrencyUSD
Price updated25/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeMEN7
FundLogic Salar Convertible Absolute Return B Mutualised Acc EUR
Initial charge-
Annual charge0.75%
Min single investment£500,000
Min regular saving£10,000
Available in ISANo
Ongoing charge (OCF)1.2%
Total expense ratio (TER)1.2%
Bid price-
Offer price-
Mid price108.11
CurrencyEUR
Price updated25/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJ78J
FundLogic Salar Convertible Absolute Return B Standard Acc EUR
Initial charge-
Annual charge0.75%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.2%
Total expense ratio (TER)1.2%
Bid price-
Offer price-
Mid price118.81
CurrencyEUR
Price updated25/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeMEO3
FundLogic Salar Convertible Absolute Return B Standard Acc GBP
Initial charge-
Annual charge0.75%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.2%
Total expense ratio (TER)1.2%
Bid price-
Offer price-
Mid price120.84
CurrencyGBP
Price updated25/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeMEO1
FundLogic Salar Convertible Absolute Return B Standard Acc USD
Initial charge-
Annual charge0.75%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.2%
Total expense ratio (TER)1.2%
Bid price-
Offer price-
Mid price120.38
CurrencyUSD
Price updated25/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeMEO2
FundLogic Salar Convertible Absolute Return B Standard GBP
Initial charge-
Annual charge0.75%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.2%
Total expense ratio (TER)1.2%
Bid price-
Offer price-
Mid price117.6
CurrencyGBP
Price updated25/11/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeMEO0
FundLogic Salar Convertible Absolute Return C Mutualised Acc EUR
Initial charge5%
Annual charge2%
Min single investment£10,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.45%
Total expense ratio (TER)2.45%
Bid price-
Offer price-
Mid price97.69
CurrencyEUR
Price updated25/11/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code00Z3
Data provided by

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