Fact sheet: Investec All China Bond

Fund information
Fund name
Investec All China Bond A
Fund manager company
Investec Asset Management Luxe
Fund type
Offshore Fund
Fund managers
  • Wilfred Weesince 19/06/2014
  • Peter Eerdmanssince 19/06/2014
Fund objective
The Fund aims to provide income with the opportunity for long-term capital growth primarily through investment in a portfolio of debt securities (e.g. bonds) which are issued by Chinese Borrowers. The Fund may hold debt securities issued in Mainland China, including, without limitation, the China Interbank Bond Market.
Benchmark
  • iBoxx ALBI Offshore China
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
-2.1%
1 Year rank in sector
26/31
Sector
FO Fixed Int - Other Single Currency
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.
2.08%
Fund size
£13m
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.
72
Top in this sector
Fund name1 Year
HSBC GIF Brazil Bond37.2%
Aberdeen Gbl Brazil Bond30.6%
Baring China Bond16.9%
Aberdeen Gbl Indian Bond12.3%
Nordea 1 Swedish Bond3%
...more in FO Fixed Int - Other Single Currency

Performance snapshot

Holdings snapshot

  • China90%
    Hong Kong5.1%
    Money Market2.5%
    Cayman Islands2.4%
  • Investment Grade Corporate Bonds66.6%
    Debt16.4%
    High Yield Bond14.6%
    Money Market3.7%
    Others-0.1%
  • Chinese Fixed Interest90%
    Hong Kong Fixed Interest5.1%
    Money Market2.5%
    American Emerging Fixed Interest2.4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-3%-5.1%-4.7%-2.1%--
Sector-1.6%-2.3%-0.9%1.3%5.1%9.7%
Rank within sector24 / 3129 / 3128 / 3126 / 31--
Quartile4th4th4th4th
Calendar performance
 YTD - 20162015201420132012
Fund-0.9%-2.4%---
Sector1.7%-0.9%4.2%-0.3%4.3%
Rank within sector25 / 3124 / 27---
Quartile4th4th
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 high20.89
52 week low19.54
Current bid price-
Current offer price-
Current mid price19.63
Region
1China90%
2Hong Kong5.1%
3Money Market2.5%
4Cayman Islands2.4%
Industry sector
1Investment Grade Corporate Bonds66.6%
2Debt16.4%
3High Yield Bond14.6%
4Money Market3.7%
5Others-0.1%
6Foreign Exchange-1.2%
Asset type
1Chinese Fixed Interest90%
2Hong Kong Fixed Interest5.1%
3Money Market2.5%
4American Emerging Fixed Interest2.4%
Individual holdings
1CRCC YUPENG LTD 3.95 DEC 31 993.6%
2ENN ENERGY HOLDINGS LTD 6 MAY 13 213.5%
3BANK OF CHINA LTD HONG KONG BRANCH 5.55% NTS 11/02/20 USD1000`REG S`3.4%
4CHINA(PEOPLE`S REPUBLIC OF) 3.28% BDS 02/06/19 CNY10000003.4%
5CHINA(PEOPLE`S REPUBLIC OF) 3.29% BDS 30/11/18 CNY5000003.4%
6KUNLUN ENERGY CO LTD 3.75% BDS 13/05/25 USD1000 144A3.2%
7SINOCHEM GLOBAL CAPITAL CO LTD 5 DEC 31 993.2%
8THREE GORGES FINANCE I CAYMAN JUN 10 253.2%
9CHINA LIFE INSURANCE CO LTD 4 JUL 03 753.1%
Management
Fund manager group
Investec
Fund manager company
Investec Asset Management Luxe
Fund type
Offshore Fund
Fund objective
The Fund aims to provide income with the opportunity for long-term capital growth primarily through investment in a portfolio of debt securities (e.g. bonds) which are issued by Chinese Borrowers. The Fund may hold debt securities issued in Mainland China, including, without limitation, the China Interbank Bond Market.
Benchmark
  • iBoxx ALBI Offshore China
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Wilfred Wee19/06/2014Wilfred is an investment specialist in in the Global Emerging Market Debt team and a portfolio manager. He is responsible for the Asia Local Currency Bond Fund as well as an Asian credit specialist. Prior to joining Investec Asset Management, Wilfred worked for the Government of Singapore Investment Corporation (GIC) for nine years, three of which were based in New York. At the GIC, Wilfred was a portfolio manager and lead credit analyst for Emerging Market credit, focused on Asia. He was also credit analyst and strategist responsible for European financials. Wilfred holds a Bachelor of Arts (Hons.) degree in Economics from the University of Cambridge, and a Masters in Financial Mathematics from Stanford University and is also a CFA charterholder.
Peter Eerdmans19/06/2014Peter is co-head of Emerging Market Fixed Income at Investec Asset Management. He is jointly responsible with Werner Gey van Pittius for all global emerging market debt strategies. Peter is also responsible for Asian markets within the team. Peter joined Investec Asset Management in 2005 from Watson Wyatt, where he was responsible for bond and currency manager research. Prior to his time at Watson Wyatt, he spent six years as a senior portfolio manager responsible for global bond management at Robeco, where he helped develop the credit process and lead on numerous projects improving the process and tools of the department. He graduated in 1995 with a Masters degree in Econometrics from Erasmus University Rotterdam.
Compliance
Reporting Fund Status, UCIS
Domicile
No data available.
Fund for sale in
United Kingdom, Luxembourg, Offshore
Investec All China Bond A
Initial charge5%
Annual charge1.5%
Min single investment£3,000
Min regular saving£750
Available in ISANo
Ongoing charge (OCF)2.08%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price19.63
CurrencyUSD
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFKQX
Investec All China Bond IX
Initial charge5%
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£250,000
Available in ISANo
Ongoing charge (OCF)1.17%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price20.08
CurrencyUSD
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFKQY
Investec All China Bond S
Initial charge10%
Annual charge-
Min single investment£100,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.27%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price24.53
CurrencyUSD
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFKQZ
Data provided by

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