Fact sheet: Kames High Yield Bond

Fund information
Fund name
Kames High Yield Bond B Acc
Fund manager company
Kames Capital
Fund type
OEIC
Fund managers
  • David Ennettsince 09/09/2016
  • 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
7.5%
1 Year rank in sector
22/23
Sector
UT Sterling High Yield
Yield
4.5%
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.
0.8%
Fund size
£1,086m (£1,330m 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.
37
Mid price
261.09
Top in this sector
Fund name1 Year
Fidelity Global High Yield15.7%
L&G High Income Trust14.3%
AXA Global High Income13.4%
Schroder Hi Yield Opps12.9%
Newton Global Hi Yield Bd12%
...more in UT Sterling High Yield

Performance snapshot

Holdings snapshot

  • USA55.2%
    UK11.1%
    Netherlands5.9%
    France4.9%
    Jersey3.7%
  • BB47.4%
    B33.3%
    BBB8%
    Money Market5.8%
    CCC3.5%
  • US Fixed Interest55.2%
    UK Fixed Interest14.7%
    Dutch Fixed Interest5.9%
    French Fixed Interest4.9%
    Money Market3.8%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.7%1.1%1.6%7.5%8.1%28.5%
Sector-0.4%1.6%3.2%10.1%10.9%31.8%
Rank within sector18 / 2319 / 2323 / 2322 / 2318 / 2218 / 21
Quartile4th4th4th4th4th4th
Calendar performance
 YTD - 20172016201520142013
Fund0.8%7.7%-1.6%4%5.6%
Sector1.4%9.9%-0.3%1.8%6.2%
Rank within sector19 / 2318 / 2315 / 234 / 2217 / 21
Quartile4th4th3rd1st4th
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.
-0.75
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.
1.09
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%.
5.14
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.
1.57
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.
-0.29
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 high264.57
52 week low241.08
Current bid price-
Current offer price-
Current mid price261.09
Region
1USA55.19%
2UK11.06%
3Netherlands5.9%
4France4.87%
5Jersey3.66%
6Luxembourg3.36%
7Money Market3.3%
8Germany2.86%
9Ireland2.78%
Industry sector
1BB47.4%
2B33.3%
3BBB8%
4Money Market5.8%
5CCC3.5%
6Non-Rated2%
Asset type
1US Fixed Interest55.19%
2UK Fixed Interest14.72%
3Dutch Fixed Interest5.9%
4French Fixed Interest4.87%
5Money Market3.78%
6Luxembourg Fixed Interest3.36%
7German Fixed Interest2.86%
8Irish Fixed Interest2.78%
9Canadian Fixed Interest1.3%
Individual holdings
1NUMERICABLE SFR BDS 01/05/26 USD200000 144A2.1%
2CPUK FINANCE LTD 7% BDS 28/08/20 GBP1000002.01%
3CITIGROUP INC UNDATED BDS USD10001.83%
4ACCESS MIDSTREAM PARTNERS LP 5.875% BDS 15/03/24 USD20001.82%
5VIRGIN MEDIA RECEIVABLES FIN NOTES 5.5% BDS 15/09/24 GBP1000001.67%
6SERVICE CORP INTL 4.5% BDS 15/11/20 USD10001.66%
7AA BOND CO LTD(JE) 5.5% BDS 31/07/43 GBP100000 REG S1.65%
8TALK TALK TELECOM GROUP PLC 5.375% MTN 15/01/22 GBP1000001.6%
9HCA INC 5.375% BDS 01/02/25 USD20001.58%
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 Ennett09/09/2016David 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)1.3%
Total expense ratio (TER)1.31%
Bid price-
Offer price-
Mid price121.56
CurrencyGBX
Price updated23/03/2017
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)1.3%
Total expense ratio (TER)1.31%
Bid price-
Offer price-
Mid price52.05
CurrencyGBX
Price updated23/03/2017
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)0.8%
Total expense ratio (TER)0.81%
Bid price-
Offer price-
Mid price261.09
CurrencyGBX
Price updated23/03/2017
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)0.8%
Total expense ratio (TER)0.81%
Bid price-
Offer price-
Mid price98.59
CurrencyGBX
Price updated23/03/2017
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)1.05%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price117.31
CurrencyGBX
Price updated23/03/2017
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)1.05%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price96.78
CurrencyGBX
Price updated23/03/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeI01O
Data provided by

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