Fact sheet: Henderson Hz Gbl HiYd Bd

Fund information
Fund name
Henderson Horizon Global High Yield Bond I2 Acc USD
Fund manager company
Henderson Management SA
Fund type
Offshore Fund
Fund managers
  • Tom Rosssince 01/08/2015
  • Kevin Loomesince 19/11/2013
Fund objective
The investment objective of the Global High Yield Bond Fund is to provide a high overall yield and potential for capital growth.The Fund will invest at least 80% of its net assets in sub investment grade corporate debt securities of issuers with a credit rating equivalent to BB+ or lower. The Fund can invest in fixed and variable rate and index related securities issued by corporate, government, supranational institutions and local and regional agencies.The Fund may also make use of one or a combination of the following instruments / strategies in order to achieve the Fund’s objective including, but not limited to asset and mortgage backed securities, convertible bonds, structured notes, exchange traded derivatives, OTC swaps (such as credit default swaps, credit default swaps on indices and interest rate swaps), forward foreign exchange contracts and preferred stocks.
Benchmark
  • BofA Merrill Lynch Global High Yield Constrained Index (100% Hedged)
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
8.2%
1 Year rank in sector
19/77
Sector
FO Fixed Int - Global 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.
0.75%
Fund size
£108m (£90m 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.
36
Top in this sector
Fund name1 Year
Franklin GblCorpHiYd28.7%
Pioneer SICV-Gbl Hi Yld26.5%
HSBC GIF Gbl AsBk Hg Yld Bd21.3%
Aberdeen Gbl Select HgYdBd18.3%
BlueBay Em Mkt HY Crp14.1%
...more in FO Fixed Int - Global High Yield

Performance snapshot

Holdings snapshot

  • USA60.6%
    Luxembourg9.6%
    UK7.3%
    Others6.2%
    Germany3.2%
  • Basic Industries19.9%
    Services10.1%
    Energy8.7%
    Capital Goods8.4%
    Media7.6%
  • US Fixed Interest60.6%
    Luxembourg Fixed Interest9.6%
    UK Fixed Interest7.3%
    Global Fixed Interest6.2%
    German Fixed Interest3.2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.1%4.5%8.5%8.2%--
Sector0%3.8%6.9%6.6%10.6%34.5%
Rank within sector27 / 8316 / 8221 / 8119 / 77--
Quartile2nd1st2nd1st
Calendar performance
 YTD - 20162015201420132012
Fund11%1.3%4.2%--
Sector9.2%-2.5%1.4%5.2%15.5%
Rank within sector24 / 8014 / 7013 / 63--
Quartile2nd1st1st
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 high119.72
52 week low102.98
Current bid price-
Current offer price-
Current mid price119.16
Region
1USA60.6%
2Luxembourg9.6%
3UK7.3%
4Others6.2%
5Germany3.2%
6Italy3.1%
7Brazil2.1%
8Money Market2.1%
9France1.6%
Industry sector
1Basic Industries19.9%
2Services10.1%
3Energy8.7%
4Capital Goods8.4%
5Media7.6%
6Telecommunications7.5%
7Retail7%
8Technology5.1%
9Health Care4.7%
Asset type
1US Fixed Interest60.6%
2Luxembourg Fixed Interest9.6%
3UK Fixed Interest7.3%
4Global Fixed Interest6.2%
5German Fixed Interest3.2%
6Italian Fixed Interest3.1%
7Brazilian Fixed Interest2.1%
8Money Market2.1%
9French Fixed Interest1.6%
Individual holdings
No data available.
Management
Fund manager group
Henderson Global Investors
Fund manager company
Henderson Management SA
Fund type
Offshore Fund
Fund objective
The investment objective of the Global High Yield Bond Fund is to provide a high overall yield and potential for capital growth.The Fund will invest at least 80% of its net assets in sub investment grade corporate debt securities of issuers with a credit rating equivalent to BB+ or lower. The Fund can invest in fixed and variable rate and index related securities issued by corporate, government, supranational institutions and local and regional agencies.The Fund may also make use of one or a combination of the following instruments / strategies in order to achieve the Fund’s objective including, but not limited to asset and mortgage backed securities, convertible bonds, structured notes, exchange traded derivatives, OTC swaps (such as credit default swaps, credit default swaps on indices and interest rate swaps), forward foreign exchange contracts and preferred stocks.
Benchmark
  • BofA Merrill Lynch Global High Yield Constrained Index (100% Hedged)
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Tom Ross01/08/2015Tom Ross joined Henderson in 2002 and has been co-managing Henderson's absolute return credit funds since 2006. In August 2015 he was appointed co-manager of a number of European and global bond funds. Prior to fund management, Tom specialised in credit trading on Henderson's centralised dealing desk where he was able to build strong relationships with market participants in order to gain flow and positioning information to supplement credit views. Tom graduated from Nottingham University with a BSc (Hons) in Biology and is a CFA charterholder.
Kevin Loome19/11/2013Kevin Loome joined Henderson in 2013 as the Head of US Credit and since then has helped launch and manage a number of funds. His career began at Morgan Stanley as an investment banking analyst, before moving on to work at T.Rowe Price as a portfolio manager and analyst. Prior to joining Henderson, Kevin worked at Delaware Investments as the Head of High Yield Investments and senior portfolio manager. Kevin graduated from the University of Virginia with a BS in Commerce and has an MBA from the Amos Tuck School at Dartmouth. He is also a CFA charterholder.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Reporting Fund Status, UCITS V Compliant, MAS Unrestricted Scheme
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, United Kingdom, Ireland, Italy, Luxembourg, Malta, Netherlands, Norway, Offshore, Singapore, Sweden
Henderson Horizon Global High Yield Bond A2 Acc USD
Initial charge5%
Annual charge0.75%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.18%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price117.87
CurrencyUSD
Price updated22/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFEIQ
Henderson Horizon Global High Yield Bond A2 Hedged EUR
Initial charge5%
Annual charge0.75%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.18%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price116.15
CurrencyEUR
Price updated22/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFEIP
Henderson Horizon Global High Yield Bond A3 Hedged EUR
Initial charge5%
Annual charge0.75%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.26%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price96.77
CurrencyEUR
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFGKG
Henderson Horizon Global High Yield Bond A3 Inc USD
Initial charge5%
Annual charge0.75%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price103.61
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE1AB
Henderson Horizon Global High Yield Bond I2 Acc USD
Initial charge-
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.75%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price119.16
CurrencyUSD
Price updated22/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFEIR
Henderson Horizon Global High Yield Bond I2 Hedged EUR
Initial charge-
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.75%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price117.42
CurrencyEUR
Price updated22/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFEIS
Henderson Horizon Global High Yield Bond Z2 Hedged GBP
Initial charge-
Annual charge-
Min single investment£25,000,000
Min regular saving£250,000
Available in ISANo
Ongoing charge (OCF)0.07%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price115.95
CurrencyGBP
Price updated22/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFIAD
Henderson Horizon Global High Yield Bond Z3 Hedged Inc GBP
Initial charge-
Annual charge-
Min single investment£25,000,000
Min regular saving£250,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price106.67
CurrencyGBP
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE8DF
Data provided by

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