Fact sheet: ML IS BeachPtDivCrUCTS

Fund information
Fund name
ML IS Beach Point Diversified Credit UCITS C Acc EUR
Fund manager company
Merrill Lynch International
Fund type
Offshore Fund
Fund managers
  • Scott Kleinsince 01/04/2013
  • Carl Goldsmithsince 01/04/2013
Fund objective
The Sub-Fund is a multi-strategy credit fund managed by Beach Point UCITS Management LLC (the “Investment Manager” or “Beach Point”). The Sub-Fund’s investment objective is to generate superior long-term performance with less than commensurate risk through an opportunistic portfolio of high yield bonds. The investments may also include stressed/opportunistic credit investments, undervalued and event-driven equities, and capital structure arbitrage investments. The Sub-Fund may also invest in short positions via the use of derivatives in debt and equity instruments. Allocations to and among the different types of investments will generally be based on what the Investment Manager believes to represent the best risk/reward dynamics given the liquidity and other regulatory requirements applicable to the Sub-Fund and then-current market conditions and situation-specific investment research.
Benchmark
  • No Specified Index
Investment style
Credit Arbitrage
Investment method
Fixed Interest
Quick stats
1 Year return
3.3%
1 Year rank in sector
6/23
Sector
FO Hedge/Stru Prod - Fixed Int
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.
2.76%
Fund size
£107m (£198m 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.
72
Top in this sector
Fund name1 Year
TCA Global Credit LP8.6%
III Relative Val Credit Strats6.4%
Prestige Alternative Finance5%
Lyxor European Senior Debt4.8%
Man IP 220 GLG USD Gtd Bds3.4%
...more in FO Hedge/Stru Prod - Fixed Int

Performance snapshot

Holdings snapshot

  • North America68.2%
    Europe10.9%
  • Communications20.1%
    Energy16.5%
    Health Care14.8%
    Industrials13.7%
    Consumer Discretionary12.2%
  • No data available.

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.8%-1.1%3.1%3.3%--
Sector0.2%0.8%0.9%0.5%-12.7%-12.1%
Rank within sector15 / 1622 / 235 / 236 / 23--
Quartile4th4th1st2nd
Calendar performance
 YTD - 20162015201420132012
Fund6.2%-3.2%---
Sector1.3%-14.4%0.6%-5.7%6.2%
Rank within sector3 / 2319 / 21---
Quartile1st4th
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.
-
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.
-
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.
-
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%.
-
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.
-
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.
-
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.
-
Price movement
52 week high102.03
52 week low89.5
Current bid price-
Current offer price-
Current mid price99.56
Region
1North America68.16%
2Europe10.88%
Industry sector
1Communications20.09%
2Energy16.54%
3Health Care14.82%
4Industrials13.7%
5Consumer Discretionary12.22%
6Utilities11.11%
7Consumer Staples6.59%
8Information Technology5.54%
9Financials3.86%
Asset type
No data available.
Individual holdings
1ALTICE FINANCING SA2.76%
2 21ST CENTURY ONCOLOGY INC2.71%
3HORIZON PHARMA INC2.32%
4 IMMUCOR INC2.3%
5CITGO HOLDING INC2.19%
Management
Fund manager group
Merrill Lynch
Fund manager company
Merrill Lynch International
Fund type
Offshore Fund
Fund objective
The Sub-Fund is a multi-strategy credit fund managed by Beach Point UCITS Management LLC (the “Investment Manager” or “Beach Point”). The Sub-Fund’s investment objective is to generate superior long-term performance with less than commensurate risk through an opportunistic portfolio of high yield bonds. The investments may also include stressed/opportunistic credit investments, undervalued and event-driven equities, and capital structure arbitrage investments. The Sub-Fund may also invest in short positions via the use of derivatives in debt and equity instruments. Allocations to and among the different types of investments will generally be based on what the Investment Manager believes to represent the best risk/reward dynamics given the liquidity and other regulatory requirements applicable to the Sub-Fund and then-current market conditions and situation-specific investment research.
Benchmark
  • No Specified Index
Investment style
Credit Arbitrage
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Scott Klein01/04/2013Scott Klein is a Founding Partner and Co-Chief Investment Officer for Beach Point Capital Management. Mr. Klein has 20 years of experience in managing high yield bonds, bank loans and distressed debt portfolios and restructuring companies in financial distress. Before founding Beach Point, Mr. Klein was Senior Managing Director at Post Advisory Group, where he spent over 12 years helping grow the company from under $200 million in assets to over $10 billion. Mr. Klein was responsible for co-running the alternative business of Post Advisory and co-managing the Total Return, Distressed Debt, and Corporate Loan strategies. In the early 1990s, Mr. Klein spent four years as a bankruptcy attorney at the law firm of Murphy, Weir and Butler advising bondholders and creditors' committees in corporate restructurings and Chapter 11 cases. He subsequently served as a vice president analyzing distressed investments at Dabney Resnick Imperial. He currently serves on the Board of Governors of Cedars Sinai Medical Center. Mr. Klein received dual bachelor's degrees in economics and political science from the University of Pennsylvania's Wharton School of Business, where he graduated magna cum laude, and a J.D. from the UCLA School of Law, where he served on the Law Review.
Carl Goldsmith01/04/2013Carl Goldsmith is a Founding Partner and Co-Chief Investment Officer for Beach Point Capital Management. Mr. Goldsmith has 20 years of experience managing high yield bonds, bank loans and distressed debt portfolios and working on corporate restructurings. Prior to founding Beach Point, Mr. Goldsmith was the Senior Investment Officer at Post Advisory Group. During his 15 years at Post Advisory, the firm grew from under $100 million in assets to over $10 billion. Mr. Goldsmith was responsible for co-running the alternative business of Post Advisory and co-managing the Total Return, Distressed Debt, and Corporate Loan strategies. In the early 1990s, Mr. Goldsmith worked in the Bankruptcy Support and Valuation departments at Price Waterhouse, where he advised debtors and creditors in bankruptcy restructurings. Mr. Goldsmith received a bachelor's degree in economics from the University of Pennsylvania's Wharton School of Business and a J.D. from the UCLA School of Law.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, United Kingdom, Ireland, Italy, Luxembourg, Netherlands, Norway, Offshore, Portugal, Sweden
ML IS Beach Point Diversified Credit UCITS B Acc GBP
Initial charge-
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.97%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price101.8
CurrencyGBP
Price updated30/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKFYE
ML IS Beach Point Diversified Credit UCITS B EUR
Initial charge-
Annual charge1.5%
Min single investment£1,000,000
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1.97%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price102.21
CurrencyEUR
Price updated30/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeK54H
ML IS Beach Point Diversified Credit UCITS B Inc GBP
Initial charge-
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.97%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price101.8
CurrencyGBP
Price updated30/11/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKFYD
ML IS Beach Point Diversified Credit UCITS B USD
Initial charge-
Annual charge1.5%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.91%
Total expense ratio (TER)1.91%
Bid price-
Offer price-
Mid price111.9
CurrencyUSD
Price updated30/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJ9CQ
ML IS Beach Point Diversified Credit UCITS C Acc EUR
Initial charge-
Annual charge2.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.76%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price99.56
CurrencyEUR
Price updated30/11/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeK1MS
ML IS Beach Point Diversified Credit UCITS C Acc GBP
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.76%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price99.55
CurrencyGBP
Price updated30/06/2015
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKFYF
ML IS Beach Point Diversified Credit UCITS C Acc USD
Initial charge5%
Annual charge2.25%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.7%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price102.05
CurrencyUSD
Price updated30/11/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJZ8X
ML IS Beach Point Diversified Credit UCITS D Acc USD
Initial charge-
Annual charge1%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.41%
Total expense ratio (TER)1.41%
Bid price-
Offer price-
Mid price115.35
CurrencyUSD
Price updated30/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF90E
ML IS Beach Point Diversified Credit UCITS D Hedged Acc EUR
Initial charge-
Annual charge1%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.47%
Total expense ratio (TER)1.41%
Bid price-
Offer price-
Mid price112.18
CurrencyEUR
Price updated30/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJD6Q
ML IS Beach Point Diversified Credit UCITS X Inc EUR
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.97%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price103.24
CurrencyEUR
Price updated30/11/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKV5Q
ML IS Beach Point Diversified Credit UCITS X Inc GBP
Initial charge-
Annual charge1.5%
Min single investment£1,000
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1.97%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price102.67
CurrencyGBP
Price updated30/11/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKV4L
ML IS Beach Point Diversified Credit UCITS Z EUR
Initial charge5%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.01%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price106.7
CurrencyEUR
Price updated30/11/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJP9M
Data provided by

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