Fact sheet: Investec Target Return

Fund information
Fund name
Investec Target Return I Acc GBP
Fund manager company
Investec Fund Managers (UK)
Fund type
OEIC
Fund managers
  • John Stopfordsince 09/10/2005
  • Russell Silberstonsince 01/02/2016
Fund objective
The Fund aims to produce a positive return over the long term regardless of market conditions by investing primarily in interest bearing assets and related derivatives. While the Fund aims to achieve a positive return there is no guarantee it will be achieved over the long term, or over any period of time. There is no guarantee that all capital invested in the Fund will be returned.
Benchmark
  • Libor GBP Overnight Rate
Investment style
Absolute Return
Investment method
Fixed Interest
Quick stats
1 Year return
-0%
1 Year rank in sector
116/124
Sector
UT Specialist
Yield
0.6%
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.
0.76%
Fund size
£296m (£427m 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.
10
Mid price
107.88
Top in this sector
Fund name1 Year
MFM Junior Gold134.7%
WAY Charteris Gd Prcsml124.2%
Old Mutual JPM Nat Res87.6%
Smith & Williamson GblGld&Res86.8%
JPM Natural Resources85.2%
...more in UT Specialist

Performance snapshot

Holdings snapshot

  • USA24.1%
    Money Market18.3%
    New Zealand17.7%
    UK13%
    Czech Republic11.5%
  • Government Bonds47%
    High Yield Bond18.6%
    Money Market18.3%
    Index Linked12.7%
    Debt7.2%
  • No data available.

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.6%-0.9%0.3%-0%-0.4%1.1%
Sector-1.2%-0.5%9.4%19.8%17%27.7%
Rank within sector75 / 12472 / 125115 / 125116 / 124105 / 11473 / 91
Quartile3rd3rd4th4th4th4th
Calendar performance
 YTD - 20162015201420132012
Fund0.1%-2%1.2%-0.5%2.6%
Sector19.7%-4.5%1.2%4.5%7.5%
Rank within sector116 / 12470 / 11977 / 11577 / 10567 / 91
Quartile4th3rd3rd3rd3rd
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.
-0.44
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.
0.05
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%.
1.43
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.
9.44
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.
-0.58
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.
0.11
Price movement
52 week high109.19
52 week low107.24
Current bid price-
Current offer price-
Current mid price107.88
Region
1USA24.1%
2Money Market18.3%
3New Zealand17.7%
4UK13%
5Czech Republic11.5%
6France8.7%
7Spain7%
8Italy1.4%
9Germany1.3%
Industry sector
1Government Bonds47%
2High Yield Bond18.6%
3Money Market18.3%
4Index Linked12.7%
5Debt7.2%
6Investment Grade Corporate Bonds1.2%
7Foreign Exchange-5%
Asset type
No data available.
Individual holdings
1UNITED STATES TREASURY INFLATION 0.125 APR 15 2112.7%
2NEW ZEALAND(GOVERNMENT OF) 6% BDS 15/05/21 NZD100010.4%
3TREASURY 1.5 GILT 22/01/21 GBP0.019.8%
4FRANCE(GOVT OF) 0% BDS 25/05/21 EUR18.4%
5CZECH REPUBLIC 0% BDS 17/07/19 CZK100007.2%
6NEW ZEALAND(GOVERNMENT OF) 5% BDS 15/03/19 NZD10007.2%
7SPAIN(KINGDOM OF) 1.95% BDS 30/04/26 EUR10007%
8CZECH REPUBLIC 1% BDS 26/06/26 CZK100004.3%
9FRONTIER COMMUNICATIONS CORP 7.125% SNR NTS 15/03/19 USD1000 `144A`0.5%
Management
Fund manager group
Investec
Fund manager company
Investec Fund Managers (UK)
Fund type
OEIC
Fund objective
The Fund aims to produce a positive return over the long term regardless of market conditions by investing primarily in interest bearing assets and related derivatives. While the Fund aims to achieve a positive return there is no guarantee it will be achieved over the long term, or over any period of time. There is no guarantee that all capital invested in the Fund will be returned.
Benchmark
  • Libor GBP Overnight Rate
Investment style
Absolute Return
Investment method
Fixed Interest
Fund managers
NameSinceBiography
John Stopford09/10/2005John is the co-head of Multi-Asset at Investec Asset Management, responsible for all multi-strategy income. He is lead portfolio manager on our multi-strategy income and credit portfolios, as well as participating in the wider management of our multi-asset strategies. During his time at the firm John held the senior position of co-head of Fixed Income & Currency, and prior to this was responsible for the management of our South African fixed income assets from 1998 to 2004. John joined Guinness Flight in 1993, which was later acquired by Investec Asset Management, and took responsibility for investments in emerging bond and currency markets. Previous to this, he worked in London and Tokyo as a specialist global bond and currency portfolio manager for Mitsui Trust Asset Management. John graduated from the University of Oxford with an honours degree in Chemistry in 1990. In 1995, he was awarded the Chartered Financial Analyst (CFA) designation from the Association of Investment Management and Research.
Russell Silberston01/02/2016Russell is the head of Reserve Management, with primary responsibility for managing active interest rate and currency decisions in developed markets. Prior to joining Investec Asset Management, Russell worked for Cazenove Fund Management where he was a fixed income portfolio manager responsible for sterling treasury management services and UK, US and euro short interest rate forecasts. Before joining Cazenove in 2001, Russell worked for Investec Asset Management where his responsibilities included running multi-currency money market funds and non-sterling short dated cash plus products. Prior to that, Russell worked for Investec Bank where he ran a proprietary trading desk. From 1986 to 1995 Russell worked for Clive Discount Co. Ltd. where he traded a wide variety of on and off-balance sheet instruments. Russell started his City career at Samuel Montagu & Co. in 1982.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Chile, United Kingdom
Investec Target Return A Acc GBP
Initial charge-
Annual charge1.25%
Min single investment£1,000
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.36%
Total expense ratio (TER)1.35%
Bid price-
Offer price-
Mid price106.51
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeI011
Investec Target Return A Inc GBP
Initial charge-
Annual charge1.25%
Min single investment£1,000
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.36%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price94.39
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code12GN
Investec Target Return I Acc GBP
Initial charge-
Annual charge0.65%
Min single investment£1,000,000
Min regular saving£250,000
Available in ISAYes
Ongoing charge (OCF)0.76%
Total expense ratio (TER)0.75%
Bid price-
Offer price-
Mid price107.88
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeBOD5
Investec Target Return I Gr Acc GBP
Initial charge-
Annual charge0.65%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.76%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price98.7
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeM8OC
Investec Target Return I Gr Inc GBP
Initial charge-
Annual charge0.65%
Min single investment£1,000,000
Min regular saving£250,000
Available in ISANo
Ongoing charge (OCF)0.76%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price97.86
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeMDIH
Investec Target Return I Inc GBP
Initial charge-
Annual charge0.65%
Min single investment£1,000,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.76%
Total expense ratio (TER)0.77%
Bid price-
Offer price-
Mid price94.36
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi code12GO
Investec Target Return R Acc GBP
Initial charge-
Annual charge0.75%
Min single investment£100,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.86%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price98.5
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeI3YS
Investec Target Return S Hedged Gr Acc EUR
Initial charge-
Annual charge-
Min single investment£100,000,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)0.16%
Total expense ratio (TER)0.15%
Bid price-
Offer price-
Mid price114.57
CurrencyEUX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeBOD4
Investec Target Return S Hedged Gr Acc GBP
Initial charge-
Annual charge-
Min single investment£100,000,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)0.11%
Total expense ratio (TER)0.1%
Bid price-
Offer price-
Mid price131.66
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeIU73
Investec Target Return S Hedged Gr Acc USD
Initial charge-
Annual charge-
Min single investment£100,000,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)0.16%
Total expense ratio (TER)0.15%
Bid price-
Offer price-
Mid price114.85
CurrencyUSX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeBMQ1
Data provided by

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