Fact sheet: Investec HiIncBd

Fund information
Fund name
Investec European High Yield Bond F Acc EUR
Fund manager company
Investec Asset Management Luxe
Fund type
Offshore Fund
Fund managers
  • Jeff Boswellsince 31/03/2015
  • Garland Hansmannsince 31/03/2015
Fund objective
The Fund aims to provide an income and capital return in excess of that which is generated by prevailing European high yield bond indices over the long term. The Fund seeks to achieve its objective by investing primarily in a diversified portfolio of higher interest rate bearing fixed interest securities (which may be Investment Grade and Non-Investment Grade) issued by European Borrowers and derivatives which offer exposure to such securities. The currency mix of denominations may be varied, reflecting the Investment Manager’s assessment of likely exchange rate movements at any time.
Benchmark
  • ML European Currency High Yield Constrained Index Hedged to GBP
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
13%
1 Year rank in sector
-
Sector
FO Fixed Int - EUR 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.
1.63%
Fund size
£179m (£205m 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.
30
Top in this sector
Fund name1 Year
Schroder ISF EURO Hi Yd15%
JI High Yield Corporate Bonds CL14.4%
AB EuroHigh Yld Pfl14.2%
UBS (L)B€HiYld€13.5%
Fidelity Eur Hi Yld13.3%
...more in FO Fixed Int - EUR High Yield

Performance snapshot

Holdings snapshot

  • USA21.9%
    UK15.8%
    Germany8.1%
    France7.3%
    Money Market7.2%
  • High Yield Bond91.8%
    Money Market7%
    Investment Grade Corporate Bonds1%
    Foreign Exchange0.2%
  • US Fixed Interest21.9%
    UK Fixed Interest15.8%
    German Fixed Interest8.1%
    French Fixed Interest7.3%
    Money Market7.2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund1.1%3.7%2.3%13%9.7%27.9%
Sector0.5%3%2.5%11.9%11.8%39.3%
Rank within sector------
Quartile
Calendar performance
 YTD - 20172016201520142013
Fund1.5%8.4%-0.3%1.5%4%
Sector1%8%0.8%3.2%8.3%
Rank within sector-----
Quartile
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.
-1.01
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.
1.03
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%.
4.58
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.
1.19
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.
-0.74
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.
0.93
Price movement
52 week high31.53
52 week low27.89
Current bid price-
Current offer price-
Current mid price31.6
Region
1USA21.9%
2UK15.8%
3Germany8.1%
4France7.3%
5Money Market7.2%
6Netherlands7%
7Italy5.7%
8Ireland4.8%
9Luxembourg4.5%
Industry sector
1High Yield Bond91.8%
2Money Market7%
3Investment Grade Corporate Bonds1%
4Foreign Exchange0.2%
Asset type
1US Fixed Interest21.9%
2UK Fixed Interest15.8%
3German Fixed Interest8.1%
4French Fixed Interest7.3%
5Money Market7.2%
6Dutch Fixed Interest7%
7Italian Fixed Interest5.7%
8Irish Fixed Interest4.8%
9Luxembourg Fixed Interest4.5%
Individual holdings
1TELECOM ITALIA SPA 3.25% MTN 16/01/23 EUR10002.8%
2TELEFONICA EUROPE B.V 3.75 DEC 31 492.5%
3INTERNATIONAL GAME TECHNOLOGY 4.75% SNR 15/02/23 EUR1000144A2%
4SOLVAY FINANCE SA 5.118 DEC 31 992%
5UNITYMEDIA KABELBW GMBH 3.75% BDS 15/01/27 EUR100000 144A1.9%
6COTT FINANCE CORP 5.5% BDS 01/07/24 EUR1000001.8%
7PETROBRAS GLOBAL FINANCE BV 4.75% BDS 14/01/25 EUR10001.8%
8TELENET FINANCE LUXEMBOURG 4.875% BDS 15/07/27 EUR1000 144A1.7%
9CROWN EURO HLDGS SA 3.375% BDS 15/05/25 EUR1000001.6%
Management
Fund manager group
Investec
Fund manager company
Investec Asset Management Luxe
Fund type
Offshore Fund
Fund objective
The Fund aims to provide an income and capital return in excess of that which is generated by prevailing European high yield bond indices over the long term. The Fund seeks to achieve its objective by investing primarily in a diversified portfolio of higher interest rate bearing fixed interest securities (which may be Investment Grade and Non-Investment Grade) issued by European Borrowers and derivatives which offer exposure to such securities. The currency mix of denominations may be varied, reflecting the Investment Manager’s assessment of likely exchange rate movements at any time.
Benchmark
  • ML European Currency High Yield Constrained Index Hedged to GBP
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Jeff Boswell31/03/2015Jeff is responsible for managing and leading the development of the developed markets credit platform at Investec Asset Management. His responsibilities include acting as a portfolio manager across a range of Investec Asset Management credit funds. Prior to joining the firm Jeff worked at Intermediate Capital Group PLC as Head of Portfolio Management within its Credit Fund Management division. He was also a member of the investment committee across both liquid and illiquid Credit Fund Management strategies. Prior to this he was at Investec Bank Limited as Head of Acquisition Finance, where he established the Acquisition Finance platform and led the development a third party asset management CLO platform alongside. Previously he has also held structured and leveraged finance roles at NIB Capital (London) and BOE Merchant Bank (South Africa). Jeff holds a Bachelor of Commerce Honours (Cum Laude) from University of South Africa. He is also a Chartered Accountant (SA) and a CFA Charterholder.
Garland Hansmann31/03/2015Garland is a portfolio manager at Investec Asset Management, responsible for credit. Prior to joining the firm he was Head of High Yield at Intermediate Capital Group. Prior to this he was European Head of Credit Research and High Yield Bonds at Credit Suisse Asset Management. He has also held positions at Dresdner Bank AG and Delbrueck Asset Management. Garland holds a Finance and Capital Markets degree (Diplombetriebswirt) from the Hochschule fuer Bankwirtschaft University in Frankfurt. Garland is also a CFA Charterholder.
Compliance
Distributor Status, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Switzerland, Cayman Islands, Germany, Denmark, Spain, France, United Kingdom, Hong Kong, Ireland, Italy, Luxembourg, Macau, Netherlands, Norway, Offshore, Peru, Singapore, Taiwan - Province Of China
Investec European High Yield Bond A Hedged (Reference) Acc GBP
Initial charge5%
Annual charge1%
Min single investment£3,000
Min regular saving£750
Available in ISANo
Ongoing charge (OCF)1.47%
Total expense ratio (TER)1.52%
Bid price-
Offer price-
Mid price84.43
CurrencyGBP
Price updated22/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFBM5
Investec European High Yield Bond A Hedged (Reference) Inc-2 GBP
Initial charge5%
Annual charge1%
Min single investment£3,000
Min regular saving£750
Available in ISANo
Ongoing charge (OCF)1.47%
Total expense ratio (TER)1.52%
Bid price-
Offer price-
Mid price16.64
CurrencyGBP
Price updated22/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFBM4
Investec European High Yield Bond A Inc-2 EUR
Initial charge5%
Annual charge1%
Min single investment£3,000
Min regular saving£750
Available in ISANo
Ongoing charge (OCF)1.46%
Total expense ratio (TER)1.3%
Bid price-
Offer price-
Mid price18.16
CurrencyEUR
Price updated22/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeGO30
Investec European High Yield Bond C Acc USD
Initial charge3%
Annual charge2%
Min single investment£3,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.53%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price22.63
CurrencyUSD
Price updated22/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFBFL
Investec European High Yield Bond C Hedged (IRD) Inc-2 AUD
Initial charge3%
Annual charge2%
Min single investment£3,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.54%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price18.81
CurrencyAUD
Price updated22/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFFXU
Investec European High Yield Bond C Hedged (IRD) Inc-3 ZAR
Initial charge3%
Annual charge2%
Min single investment£3,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.49%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price190.94
CurrencyZAR
Price updated22/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFFXT
Investec European High Yield Bond C Hedged (Reference) Gr Inc ZAR
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyZAR
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFBBL
Investec European High Yield Bond C Hedged (Reference) Inc USD
Initial charge3%
Annual charge2%
Min single investment£3,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.53%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price20.8
CurrencyUSD
Price updated22/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFNIL
Investec European High Yield Bond C Hedged (Reference) Inc-2 USD
Initial charge3%
Annual charge2%
Min single investment£3,000
Min regular saving£750
Available in ISANo
Ongoing charge (OCF)2.48%
Total expense ratio (TER)2.48%
Bid price-
Offer price-
Mid price18.63
CurrencyUSD
Price updated22/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeF7PC
Investec European High Yield Bond C Inc-2 EUR
Initial charge3%
Annual charge2%
Min single investment£3,000
Min regular saving£750
Available in ISANo
Ongoing charge (OCF)2.43%
Total expense ratio (TER)2.43%
Bid price-
Offer price-
Mid price16.72
CurrencyEUR
Price updated22/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeIK26
Investec European High Yield Bond C Inc-2 USD
Initial charge3%
Annual charge2%
Min single investment£3,000
Min regular saving£750
Available in ISANo
Ongoing charge (OCF)2.43%
Total expense ratio (TER)2.45%
Bid price-
Offer price-
Mid price13.83
CurrencyUSD
Price updated22/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code06TB
Investec European High Yield Bond F Acc EUR
Initial charge5%
Annual charge0.65%
Min single investment£3,000
Min regular saving£750
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)1.73%
Bid price-
Offer price-
Mid price31.6
CurrencyEUR
Price updated22/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeY652
Investec European High Yield Bond F Acc USD
Initial charge5%
Annual charge0.65%
Min single investment£3,000
Min regular saving£750
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)1.74%
Bid price-
Offer price-
Mid price33.51
CurrencyUSD
Price updated22/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeAUN2
Investec European High Yield Bond F Hedged (Reference) Acc USD
Initial charge5%
Annual charge0.65%
Min single investment£3,000
Min regular saving£750
Available in ISANo
Ongoing charge (OCF)1.69%
Total expense ratio (TER)1.78%
Bid price-
Offer price-
Mid price23.32
CurrencyUSD
Price updated22/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF7PD
Investec European High Yield Bond F Hedged (Reference) Inc USD
Initial charge5%
Annual charge0.65%
Min single investment£3,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.73%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price20.81
CurrencyUSD
Price updated22/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFNIM
Investec European High Yield Bond F Hedged (Reference) Inc-2 USD
Initial charge5%
Annual charge0.65%
Min single investment£3,000
Min regular saving£750
Available in ISANo
Ongoing charge (OCF)1.68%
Total expense ratio (TER)1.8%
Bid price-
Offer price-
Mid price18.62
CurrencyUSD
Price updated22/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFBM6
Investec European High Yield Bond F Inc-2 USD
Initial charge5%
Annual charge0.65%
Min single investment£3,000
Min regular saving£750
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)1.74%
Bid price-
Offer price-
Mid price17.2
CurrencyUSD
Price updated22/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeAUN3
Investec European High Yield Bond I Hedged (Reference) Acc USD
Initial charge5%
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.83%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price24.68
CurrencyUSD
Price updated22/02/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF92J
Investec European High Yield Bond I Hedged (Reference) Inc-2 USD
Initial charge5%
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.84%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price20.63
CurrencyUSD
Price updated22/02/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeF92K
Data provided by

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