Fact sheet: LM WA Euro High Yield

Fund information
Fund name
Legg Mason Western Asset Euro High Yield A(D) Dis EUR
Fund manager company
Legg Mason Global Funds Plc
Fund type
OEIC
Fund manager
  • Western Asset Management Cosince 17/12/2008
Fund objective
The Fund seeks to provide a high level of current income by investing at least two-thirds of its Net Asset Value in high-yielding debt securities (higher yields are generally available from securities rated below investment grade) that are denominated in Euro. The Sub-Investment Managers may invest all, or substantially all, of the Fund’s Net Asset Value in debt securities rated below Investment Grade.
Benchmark
  • BofA Merrill Lynch European Currency High Yield (ex. Financials) 2% Constrained (Hedged) EUR
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
6.3%
1 Year rank in sector
7/29
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.
1.44%
Fund size
£93m (£92m 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.
67
Top in this sector
Fund name1 Year
Aberdeen Gbl SelEurHiYdBd24.8%
Pioneer SICV-Eur Hi Yd24.7%
Deutsche Inv I EurHiYdCorp9.1%
Nordea 1 Europ HgYdBd II8.3%
JI High Yield Corporate Bonds CL7%
...more in FO Fixed Int - EUR High Yield

Performance snapshot

Holdings snapshot

  • UK22%
    France17.1%
    USA12.2%
    Money Market10.3%
    Italy8.8%
  • Cyclical Consumer Goods26.5%
    Communications13.4%
    Non-Cyclical Consumer Services9.9%
    Cash & Cash Equivalents8.5%
    Investment Grade Corporate Bonds7.7%
  • UK Fixed Interest22%
    French Fixed Interest17.1%
    US Fixed Interest12.2%
    Money Market10.3%
    Italian Fixed Interest8.8%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0%-0.6%2.6%6.3%14.6%52.3%
Sector-0.1%-0.4%2.9%5.6%11.8%47.4%
Rank within sector16 / 2820 / 2912 / 297 / 2910 / 256 / 20
Quartile3rd3rd2nd1st2nd2nd
Calendar performance
 YTD - 20162015201420132012
Fund7%1.8%4.5%7.9%24.2%
Sector6.7%0.8%3.2%8.3%22.4%
Rank within sector10 / 297 / 299 / 2514 / 247 / 21
Quartile2nd1st2nd3rd2nd
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.
0.81
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.
1.01
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.
0.23
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%.
4.3
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.
0.77
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.
1.07
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.
0.97
Price movement
52 week high103.94
52 week low94.96
Current bid price-
Current offer price-
Current mid price102.41
Region
1UK21.99%
2France17.12%
3USA12.24%
4Money Market10.25%
5Italy8.75%
6Luxembourg7.16%
7Germany6.32%
8Spain4.18%
9Netherlands2.39%
Industry sector
1Cyclical Consumer Goods26.47%
2Communications13.35%
3Non-Cyclical Consumer Services9.92%
4Cash & Cash Equivalents8.48%
5Investment Grade Corporate Bonds7.7%
6Capital Goods7.69%
7Industrials6.24%
8Basic Industries5.21%
9Non Investment Grade Bonds3.54%
Asset type
1UK Fixed Interest21.99%
2French Fixed Interest17.12%
3US Fixed Interest12.24%
4Money Market10.25%
5Italian Fixed Interest8.75%
6Luxembourg Fixed Interest7.16%
7German Fixed Interest6.32%
8Spanish Fixed Interest4.18%
9Dutch Fixed Interest2.39%
Individual holdings
1EUROFINS SCIENTIFIC 4.875% UNDATED NTS EUR1000002.67%
2UPC HOLDING BV 6.375% BDS 15/09/22 EUR1000 REG S2.1%
3NUMERICABLE SFR 5.625% BDS 15/05/24 EUR100000 REG S1.96%
4SMCP SAS 5.875% BDS 01/05/23 EUR1000001.78%
5ADIENT GLOBAL HOLDINGS LTD 3.5% BDS 15/08/24 EUR1000001.76%
6SAMVARDHANA MOTHERSON AUTO SYST 4.125% MTN 15/07/21 EUR100000REG S1.75%
7AA BOND CO LTD(JE) 5.5% BDS 31/07/43 GBP100000 REG S1.68%
8EIRCOM FINANCE DAC 0% BDS 31/05/22 EUR100000 REG S1.67%
93AB OPTIQUE DVLPT 5.625% BDS 15/04/19 EUR100000REG S1.61%
Management
Fund manager group
Legg Mason
Fund manager company
Legg Mason Global Funds Plc
Fund type
OEIC
Fund objective
The Fund seeks to provide a high level of current income by investing at least two-thirds of its Net Asset Value in high-yielding debt securities (higher yields are generally available from securities rated below investment grade) that are denominated in Euro. The Sub-Investment Managers may invest all, or substantially all, of the Fund’s Net Asset Value in debt securities rated below Investment Grade.
Benchmark
  • BofA Merrill Lynch European Currency High Yield (ex. Financials) 2% Constrained (Hedged) EUR
Investment style
High Yield
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Western Asset Management Co17/12/2008Western Asset Management focuses primarily on the management of fixed income portfolios, taking a fundamental approach to money management that is continually fine-tuned and adapted to changing conditions. When making investment decisions, Western Asset focuses on areas such as sector allocation, issue selection, duration weighting and maturity.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Distributor Status, Reporting Fund Status, UCITS IV Compliant, MAS Unrestricted Scheme
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Germany, Finland, France, United Kingdom, Hong Kong, Ireland, Italy, Luxembourg, Netherlands, Norway, Offshore, Singapore, Sweden
Legg Mason Western Asset Euro High Yield A(D) Dis EUR
Initial charge5%
Annual charge1.15%
Min single investment£1,000
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.44%
Total expense ratio (TER)1.44%
Bid price-
Offer price-
Mid price102.41
CurrencyEUR
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMAA2
Data provided by

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