Fact sheet: Kames High Yield Bond

Fund information
Fund name
Kames High Yield Bond A Acc
Fund manager company
Kames Capital
Fund type
OEIC
Fund managers
  • David Ennettsince 08/09/2016
  • Philip Milburnsince 01/11/2003
Fund objective
The investment objective is to maximise total return (income plus capital).
Benchmark
  • IA Sterling High Yield Sector
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
11.9%
1 Year rank in sector
-
Sector
UT Sterling High Yield
Yield
4%
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.
1.29%
Fund size
£1,086m (£1,385m 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
Mid price
122.2
Top in this sector
Fund name1 Year
L&G High Income Trust22.3%
Fidelity Global High Yield19.9%
JPM Global High Yield Bond19%
AXA Global High Income18.7%
Schroder Hi Yield Opps17.5%
...more in UT Sterling High Yield

Performance snapshot

Holdings snapshot

  • USA52.4%
    UK10.3%
    Netherlands6%
    Money Market5.8%
    France4.7%
  • Industrials67%
    Financials18.3%
    Money Market7.3%
    Utilities4%
    Asset/Mortgage-Backed Securities3.4%
  • US Fixed Interest52.4%
    UK Fixed Interest13.9%
    Dutch Fixed Interest6%
    Money Market5.6%
    French Fixed Interest4.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.7%3.1%1.8%11.9%8%28.4%
Sector0.8%3.7%3.6%15%11.9%34.8%
Rank within sector------
Quartile
Calendar performance
 YTD - 20172016201520142013
Fund1.2%7.2%-2.1%3.5%5%
Sector1.5%9.9%-0.3%1.8%6.2%
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.
-1.02
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.
1.1
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%.
5.25
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.
1.66
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.
-0.41
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.
0.91
Price movement
52 week high122.18
52 week low108.88
Current bid price-
Current offer price-
Current mid price122.2
Region
1USA52.43%
2UK10.27%
3Netherlands5.96%
4Money Market5.82%
5France4.71%
6Jersey3.63%
7Luxembourg3.28%
8Germany2.74%
9Switzerland2.74%
Industry sector
1Industrials67%
2Financials18.3%
3Money Market7.3%
4Utilities4%
5Asset/Mortgage-Backed Securities3.4%
Asset type
1US Fixed Interest52.43%
2UK Fixed Interest13.9%
3Dutch Fixed Interest5.96%
4Money Market5.65%
5French Fixed Interest4.71%
6Luxembourg Fixed Interest3.28%
7German Fixed Interest2.74%
8Swiss Fixed Interest2.74%
9Irish Fixed Interest2.67%
Individual holdings
1CPUK FINANCE LTD 7% BDS 28/08/20 GBP1000002.03%
2NUMERICABLE SFR BDS 01/05/26 USD200000 144A2%
3ACCESS MIDSTREAM PARTNERS LP 5.875% BDS 15/03/24 USD20001.76%
4CITIGROUP INC UNDATED BDS USD10001.75%
5AA BOND CO LTD(JE) 5.5% BDS 31/07/43 GBP100000 REG S1.6%
6SERVICE CORP INTL 4.5% BDS 15/11/20 USD10001.6%
7VIRGIN MEDIA RECEIVABLES FIN NOTES 5.5% BDS 15/09/24 GBP1000001.6%
8HCA INC 5.375% BDS 01/02/25 USD20001.53%
9INTERNATIONAL GAME TECHNOLOGY 6.25% BDS 15/02/22 USD- 10001.5%
Management
Fund manager group
Kames Capital
Fund manager company
Kames Capital
Fund type
OEIC
Fund objective
The investment objective is to maximise total return (income plus capital).
Benchmark
  • IA Sterling High Yield Sector
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
David Ennett08/09/2016David Ennett is Head of High Yield in the Fixed income team. He joined us in 2016 from Standard Life Investments, where he was head of European high yield and manager of the SLI Higher Income Bond Fund and SLI European High Yield Bond Fund. Before that, David worked for Old Mutual Asset Managers, CIBC World Markets and M&G in a variety of analysis and portfolio management roles. He has a degree in Political Science and Economics from the Australian National University in Canberra, and completed an MBA at Imperial College, London. David is a CFA Charterholder.
Philip Milburn01/11/2003Phil Milburn is Head of Investment Strategy in the Fixed Income team. He joined us in 1997 from the University of Edinburgh, where he earned a first class honours degree in Economics. After spells in UK and Latin American equities, Phil joined the fixed income team, where he now manages our strategic and high yield bond portfolios. Phil is also an integral member of the Investment Association Fixed Income Committee, helping lead on many industry initiatives.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Kames High Yield Bond A Acc
Initial charge1.5%
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.29%
Total expense ratio (TER)1.31%
Bid price-
Offer price-
Mid price122.2
CurrencyGBX
Price updated21/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeA222
Kames High Yield Bond A Inc
Initial charge1.5%
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.29%
Total expense ratio (TER)1.31%
Bid price-
Offer price-
Mid price52.5
CurrencyGBX
Price updated21/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeA223
Kames High Yield Bond B Acc
Initial charge-
Annual charge0.75%
Min single investment£2,000,000
Min regular saving£10,000
Available in ISANo
Ongoing charge (OCF)0.79%
Total expense ratio (TER)0.81%
Bid price-
Offer price-
Mid price262.36
CurrencyGBX
Price updated21/02/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeA224
Kames High Yield Bond B Inc
Initial charge-
Annual charge0.75%
Min single investment£2,000,000
Min regular saving£10,000
Available in ISANo
Ongoing charge (OCF)0.79%
Total expense ratio (TER)0.81%
Bid price-
Offer price-
Mid price99.39
CurrencyGBX
Price updated21/02/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeCWS6
Kames High Yield Bond D Acc
Initial charge1.5%
Annual charge1%
Min single investment£250,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)1.04%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price117.9
CurrencyGBX
Price updated21/02/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeI01N
Kames High Yield Bond D Inc
Initial charge1.5%
Annual charge1%
Min single investment£250,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)1.04%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price97.59
CurrencyGBX
Price updated21/02/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeI01O
Data provided by

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