Fact sheet: Henderson HzEurHighYldBd

Fund information
Fund name
Henderson Horizon Euro High Yield Bond I2 Acc EUR
Fund manager company
Henderson Management SA
Fund type
Offshore Fund
Fund managers
  • Stephen Thariyansince 19/11/2012
  • Tom Rosssince 01/08/2015
Fund objective
The investment objective of the Henderson Horizon Fund Euro High Yield Bond Fund is to provide a high overall yield and potential for capital growth. The Fund will invest at least 70% of its net assets in sub investment grade corporate debt securities with a credit rating equivalent to BB+ or lower and denominated in Euros and Sterling. 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 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, options, OTC swaps, asset swaps and credit default swaps, credit default swaps on indices, and forward foreign exchange contracts.
Benchmark
  • BofA Merrill Lynch European Currency Non-Financial High Yield Constrained Index
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
8.3%
1 Year rank in sector
7/23
Sector
FO Fixed Int - Europe
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
£194m (£175m 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.
35
Top in this sector
Fund name1 Year
Robeco Eurpn Hi Yld Bds10.1%
Fidelity Inst Eur Hi Yld9.4%
T. Rowe Price EurHiYdBd9%
F&C European High Yield Bond8.7%
Morg Stnly Erpn Cur HiYd Bd8.7%
...more in FO Fixed Int - Europe

Performance snapshot

Holdings snapshot

  • UK24.1%
    Luxembourg15.7%
    Others11.5%
    Money Market10.4%
    Germany8.9%
  • Basic Industries14.1%
    Retail11.6%
    Media10.7%
    Capital Goods10.4%
    Money Market10.4%
  • UK Fixed Interest24.1%
    Luxembourg Fixed Interest15.7%
    Global Fixed Interest11.5%
    Money Market10.4%
    German Fixed Interest8.9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.5%5.3%5.7%8.3%23.2%-
Sector0.2%2.6%3.7%5.2%13.4%30.5%
Rank within sector22 / 253 / 254 / 257 / 232 / 18-
Quartile4th1st1st2nd1st
Calendar performance
 YTD - 20162015201420132012
Fund7.2%5.2%4.2%12.2%-
Sector4.7%1.1%5.2%4.2%11.7%
Rank within sector5 / 252 / 2010 / 182 / 17-
Quartile1st1st3rd1st
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.
0.85
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.
1.57
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.
0.91
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%.
5.02
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.
3.05
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.
1.1
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.
0.72
Price movement
52 week high137.8
52 week low121.94
Current bid price-
Current offer price-
Current mid price136.58
Region
1UK24.1%
2Luxembourg15.7%
3Others11.5%
4Money Market10.4%
5Germany8.9%
6Italy6.6%
7France6.2%
8USA5.2%
9Netherlands3.8%
Industry sector
1Basic Industries14.1%
2Retail11.6%
3Media10.7%
4Capital Goods10.4%
5Money Market10.4%
6Telecommunications7.5%
7Automotive7%
8Services6.2%
9Utilities5.4%
Asset type
1UK Fixed Interest24.1%
2Luxembourg Fixed Interest15.7%
3Global Fixed Interest11.5%
4Money Market10.4%
5German Fixed Interest8.9%
6Italian Fixed Interest6.6%
7French Fixed Interest6.2%
8US Fixed Interest5.2%
9Dutch Fixed Interest3.8%
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 Henderson Horizon Fund Euro High Yield Bond Fund is to provide a high overall yield and potential for capital growth. The Fund will invest at least 70% of its net assets in sub investment grade corporate debt securities with a credit rating equivalent to BB+ or lower and denominated in Euros and Sterling. 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 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, options, OTC swaps, asset swaps and credit default swaps, credit default swaps on indices, and forward foreign exchange contracts.
Benchmark
  • BofA Merrill Lynch European Currency Non-Financial High Yield Constrained Index
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Stephen Thariyan19/11/2012Stephen Thariyan is the Global Head of Credit in charge of the 30-strong credit team of portfolio managers and analysts at Henderson. Prior to joining Henderson in 2007 as Head of Credit, Stephen was a portfolio manager at Rogge Global Partners responsible for investing in corporate bonds and credit derivatives globally. He was previously a director and senior analyst at NatWest Markets’ credit rating and research unit where he led teams of sector analysts in credit research. He started his career as an accountant at Ernst & Young in 1988 and later moved to become senior auditor at Chevron Corporation. Stephen graduated from the University of Newcastle-Upon-Tyne with a BA (Hons) in Accountancy and Financial Analysis.
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.
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, Chile, Germany, Denmark, Spain, Finland, France, United Kingdom, Ireland, Italy, Luxembourg, Malta, Netherlands, Norway, Offshore, Singapore, Sweden
Henderson Horizon Euro High Yield Bond A2 Acc EUR
Initial charge5%
Annual charge0.75%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.17%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price134.43
CurrencyEUR
Price updated26/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF3QY
Henderson Horizon Euro High Yield Bond A2 Hedged Acc CHF
Initial charge5%
Annual charge0.75%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.17%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price129.55
CurrencyCHF
Price updated26/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF46T
Henderson Horizon Euro High Yield Bond A2 Hedged Acc USD
Initial charge5%
Annual charge0.75%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.17%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price135.21
CurrencyUSD
Price updated26/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF3XJ
Henderson Horizon Euro High Yield Bond A3 Inc EUR
Initial charge5%
Annual charge0.75%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.17%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price108.46
CurrencyEUR
Price updated26/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeF3QX
Henderson Horizon Euro High Yield Bond C2 Acc EUR
Initial charge-
Annual charge1%
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 price-
CurrencyEUR
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE43O
Henderson Horizon Euro High Yield Bond H2 Acc EUR
Initial charge5%
Annual charge0.38%
Min single investment£750,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.81%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price107.59
CurrencyEUR
Price updated26/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFWXY
Henderson Horizon Euro High Yield Bond I2 Acc 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 price136.58
CurrencyEUR
Price updated26/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF3QZ
Henderson Horizon Euro High Yield Bond I2 Hedged 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 price119.08
CurrencyUSD
Price updated26/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFFWO
Henderson Horizon Euro High Yield Bond X2 Acc EUR
Initial charge-
Annual charge0.75%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.52%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price110.88
CurrencyEUR
Price updated26/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFJLG
Henderson Horizon Euro High Yield Bond X3 Inc EUR
Initial charge-
Annual charge0.75%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.52%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price103.85
CurrencyEUR
Price updated26/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFJVJ
Henderson Horizon Euro High Yield Bond Z2 Hedged Acc 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 price143.25
CurrencyGBP
Price updated26/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF3RA
Henderson Horizon Euro 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 price-
CurrencyGBP
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE43N
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