Fact sheet: HSBC GIF EurCrBdTtlRtrn

Fund information
Fund name
HSBC GIF Euro Credit Bond Total Return EC
Fund manager company
HSBC Investment Funds (Lux) SA
Fund type
Offshore Fund
Fund manager
  • Jean - Oliver Neyratsince 12/12/2013
Fund objective
The sub-fund invests for long term total return in a portfolio allocated across the full spectrum of Euro denominated corporate bonds and other similar securities or instruments.The Total Return strategy aims to capture the majority of the upside in the Euro credit universe while limiting the downside risk. The Total Return strategy has a flexible allocation across the Euro credit market. Returns are generated through duration management, yield curve positioning and the selection of individual securities within the investment universe. By seeking multiple sources of return, the Total Return strategy aims to provide over an investment cycle risk-adjusted returns above the investment universe of the sub-fund without reference to a benchmark index. However the Total Return strategy does not imply there is any protection of capital or guarantee of a positive return over time. The sub-fund is subject to market risks at any time. The sub-fund invests in normal market conditions a minimum of 90% of its net assets, either directly or through the use of financial derivative instruments, in Investment Grade and Non-Investment Grade rated fixed income and other similar securities which are issued by companies which are based in or carry out the larger part of their business in developed markets such as OECD countries or issued or guaranteed by governments, government agencies and supranational bodies of the same markets. These securities are primarily denominated in Euro.On an ancillary basis (normally up to 10% of its net assets), the sub-fund may also invest in Euro denominated securities issued or guaranteed by governments or government agencies or supranational bodies of Emerging Markets or issued by companies which are based in Emerging Markets.Investments in Asset Backed Securities (ABS) and Mortgage Back Securities (MBS) are limited to a maximum of 10% of the sub-fund's net assets.Investments in convertible bonds are subject to a limit of 10% of the sub-fund's net assets.The sub-fund may invest up to 15% of its net assets in contingent convertible securities, however this is not expected to exceed 10%.The sub-fund may achieve its investment policy and limits by investing up to 10% of its net assets in units or shares of UCITS and/or other open-ended funds (including other sub-funds of HSBC Global Investment Funds).The sub-fund may also invest in financial derivative instruments such as futures, options, swaps (including, but not limited to, credit default swaps and total return swaps), forward currency contracts and in other currency and credit derivatives, as well as other structured products. The sub-fund intends to use such financial derivative instruments for, inter alia, the purposes of managing interest and credit risks and currency positioning and also to enhance return when the Investment Adviser believes the investment in financial derivative instruments will assist the sub-fund in achieving its investment objectives.The sub-fund is managed without reference to any market index weightings.The sub-fund's primary currency exposure is to the Euro. On an ancillary basis (normally up to 10% of its net assets), the sub-fund may also have exposure to other European currencies but hedged back into Euro.
Benchmark
No data available.
Investment style
Total Return
Investment method
Fixed Interest
Quick stats
1 Year return
3.3%
1 Year rank in sector
21/34
Sector
FO Fixed Int - EUR
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.
1.45%
Fund size
£226m (£160m 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.
60
Top in this sector
Fund name1 Year
Schroder ISF EURCrConv9.8%
Robeco All Strat Euro Bds8.9%
Lloyds Euro High Inc8.6%
Union Quoniam Sel SICV€Cr8.2%
Pictet EUR Bonds7.8%
...more in FO Fixed Int - EUR

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.5%1.3%2%3.3%--
Sector0.2%1.5%2.6%4.3%13%26.1%
Rank within sector34 / 3415 / 3420 / 3421 / 34--
Quartile4th2nd3rd3rd
Calendar performance
 YTD - 20162015201420132012
Fund2%-1%6.7%--
Sector3.8%0%7.7%1.5%10.2%
Rank within sector22 / 3428 / 3319 / 31--
Quartile3rd4th3rd
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 high10.87
52 week low10.37
Current bid price-
Current offer price-
Current mid price10.81
Region
No data available.
Industry sector
No data available.
Asset type
No data available.
Individual holdings
1FRTR 0.5 '26 EUR9.6%
2FRANCE(GOVT OF) 0.25% NTS 25/07/24 EUR17.45%
3BUONI POLIENNALI DEL TES 1.2500 15-SEP-323.92%
4SPAIN(KINGDOM OF) 0.75% BDS 30/07/21 EUR10003.65%
5BGB 0.8 06/22/253.31%
6SPGB 1.95 '26 EUR2.41%
7GENERAL ELECTRIC CO. 4.625%/FR EU SUB DEB 15/9/66 EUR`144A`1.37%
8TOTAL SA 2.25% UNDATED BDS EUR1000001.33%
9ENEL SPA 5% BDS 15/01/75 EUR10001.2%
Management
Fund manager group
HSBC
Fund manager company
HSBC Investment Funds (Lux) SA
Fund type
Offshore Fund
Fund objective
The sub-fund invests for long term total return in a portfolio allocated across the full spectrum of Euro denominated corporate bonds and other similar securities or instruments.The Total Return strategy aims to capture the majority of the upside in the Euro credit universe while limiting the downside risk. The Total Return strategy has a flexible allocation across the Euro credit market. Returns are generated through duration management, yield curve positioning and the selection of individual securities within the investment universe. By seeking multiple sources of return, the Total Return strategy aims to provide over an investment cycle risk-adjusted returns above the investment universe of the sub-fund without reference to a benchmark index. However the Total Return strategy does not imply there is any protection of capital or guarantee of a positive return over time. The sub-fund is subject to market risks at any time. The sub-fund invests in normal market conditions a minimum of 90% of its net assets, either directly or through the use of financial derivative instruments, in Investment Grade and Non-Investment Grade rated fixed income and other similar securities which are issued by companies which are based in or carry out the larger part of their business in developed markets such as OECD countries or issued or guaranteed by governments, government agencies and supranational bodies of the same markets. These securities are primarily denominated in Euro.On an ancillary basis (normally up to 10% of its net assets), the sub-fund may also invest in Euro denominated securities issued or guaranteed by governments or government agencies or supranational bodies of Emerging Markets or issued by companies which are based in Emerging Markets.Investments in Asset Backed Securities (ABS) and Mortgage Back Securities (MBS) are limited to a maximum of 10% of the sub-fund's net assets.Investments in convertible bonds are subject to a limit of 10% of the sub-fund's net assets.The sub-fund may invest up to 15% of its net assets in contingent convertible securities, however this is not expected to exceed 10%.The sub-fund may achieve its investment policy and limits by investing up to 10% of its net assets in units or shares of UCITS and/or other open-ended funds (including other sub-funds of HSBC Global Investment Funds).The sub-fund may also invest in financial derivative instruments such as futures, options, swaps (including, but not limited to, credit default swaps and total return swaps), forward currency contracts and in other currency and credit derivatives, as well as other structured products. The sub-fund intends to use such financial derivative instruments for, inter alia, the purposes of managing interest and credit risks and currency positioning and also to enhance return when the Investment Adviser believes the investment in financial derivative instruments will assist the sub-fund in achieving its investment objectives.The sub-fund is managed without reference to any market index weightings.The sub-fund's primary currency exposure is to the Euro. On an ancillary basis (normally up to 10% of its net assets), the sub-fund may also have exposure to other European currencies but hedged back into Euro.
Benchmark
No data available.
Investment style
Total Return
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Jean - Oliver Neyrat12/12/2013Jean-Olivier Neyrat (Paris) is a Portfolio Manager in the European Credit Bond Management team and has been working in the industry since 1994. Prior to joining HSBC in 2007 Jean-Olivier worked as a credit trader at Elgin Capital LLP. He graduated from the engineering school ENSTA (France).
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Reporting Fund Status, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, United Kingdom, Italy, Luxembourg, Netherlands, Offshore, Portugal, Sweden
HSBC GIF Euro Credit Bond Total Return A
Initial charge5.54%
Annual charge0.9%
Min single investment£5,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.15%
Total expense ratio (TER)1.12%
Bid price-
Offer price-
Mid price10.905
CurrencyEUR
Price updated29/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFFMS
HSBC GIF Euro Credit Bond Total Return ACHCHF
Initial charge5.54%
Annual charge0.9%
Min single investment£5,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.21%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyCHF
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFNQD
HSBC GIF Euro Credit Bond Total Return ACUSD
Initial charge5.54%
Annual charge0.9%
Min single investment£5,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.15%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFNQE
HSBC GIF Euro Credit Bond Total Return AD
Initial charge5.54%
Annual charge0.9%
Min single investment£5,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.15%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.183
CurrencyEUR
Price updated29/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFNQF
HSBC GIF Euro Credit Bond Total Return BC
Initial charge5.54%
Annual charge0.45%
Min single investment£5,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.7%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFNQG
HSBC GIF Euro Credit Bond Total Return Bd
Initial charge5.54%
Annual charge0.45%
Min single investment£5,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.7%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFNQH
HSBC GIF Euro Credit Bond Total Return EC
Initial charge5.54%
Annual charge1.2%
Min single investment£5,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.45%
Total expense ratio (TER)1.43%
Bid price-
Offer price-
Mid price10.814
CurrencyEUR
Price updated29/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFFHQ
HSBC GIF Euro Credit Bond Total Return ED
Initial charge5.54%
Annual charge1.2%
Min single investment£5,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.45%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFNQI
HSBC GIF Euro Credit Bond Total Return IC
Initial charge5.54%
Annual charge0.45%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.65%
Total expense ratio (TER)0.64%
Bid price-
Offer price-
Mid price11.058
CurrencyEUR
Price updated29/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFFHR
HSBC GIF Euro Credit Bond Total Return ICCHF
Initial charge5.54%
Annual charge0.45%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.65%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyCHF
Price updated01/01/1900
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFNQJ
HSBC GIF Euro Credit Bond Total Return ICHCHF
Initial charge5.54%
Annual charge0.45%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.71%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyCHF
Price updated01/01/1900
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFNQK
HSBC GIF Euro Credit Bond Total Return ICUSD
Initial charge5.54%
Annual charge0.45%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.65%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFNQL
HSBC GIF Euro Credit Bond Total Return ID
Initial charge5.54%
Annual charge0.45%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.65%
Total expense ratio (TER)0.65%
Bid price-
Offer price-
Mid price10.411
CurrencyEUR
Price updated29/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFI6Z
HSBC GIF Euro Credit Bond Total Return S10C
Initial charge5.54%
Annual charge0.2%
Min single investment£10,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.35%
Total expense ratio (TER)0.35%
Bid price-
Offer price-
Mid price10.685
CurrencyEUR
Price updated29/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFKAO
HSBC GIF Euro Credit Bond Total Return S10D
Initial charge5.54%
Annual charge0.2%
Min single investment£10,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.35%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFNQM
HSBC GIF Euro Credit Bond Total Return ZC
Initial charge5.54%
Annual charge-
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.2%
Total expense ratio (TER)0.2%
Bid price-
Offer price-
Mid price11.199
CurrencyEUR
Price updated29/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFFOS
Data provided by

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Moneywise and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Financial Express. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.