Fact sheet: ML ML MLCX Comm Alpha

Fund information
Fund name
ML Merrill Lynch MLCX Commodity Alpha E 5 Acc EUR
Fund manager company
Merrill Lynch International
Fund type
Offshore Fund
Fund manager
  • James Muncesince 22/02/2016
Fund objective
The MLCX Alpha F5 Total Return Index ("MLCXAF5 Index") was designed by BofA ML Commodity Research as a broad-based, UCITS IV compliant commodity index providing a market neutral exposure to commodity markets. The MLCX Alpha F5 Total Return Index is a Long - Short index replicating the outperformance of the MLCXA01 Index over the DJUBS Index on a five times leveraged basis. The MLCXAF5 Index is designed to meet the requirements set by the UCITS Directives. Under UCITS IV rules, investing in a commodity futures index is permitted as long as each sector component of the index does not exceed 20%, although one sector may represent up to 35% of the broad index. The MLCXAF5 Index is five times leveraged meaning that its level increases by five times the outperformance of the MLCXA01 Index compared to the DJUBS Index and increases by five times the underperformance of the MLCXA01 Index compared to the DJUBS Index. Certain share classes have reduced participation in the MLCXAF5 Index meaning that these share classes are less than five times exposed on a net basis to the MLCXA01 vs DJ UBS strategy. The Fund offers investment opportunities through three different share classes (Alpha 1, Alpha 3, Alpha 5), each tracking a Reference Index linked to the performance of MLCXAF5 strategy as follows: Each of the Reference Indices is calculated on a "total return after costs" basis using : 1) the daily performance of the MLCXAF5 Long - Short strategy on an "excess return before cost" basis, 2) multiplied by the relevant Participation Level, 3) decreased of the relevant daily roll costs, 4) compounded by the daily interest rate.
Benchmark
  • MLCX 5 ALS Index
Investment style
Passive/Tracking,Market Neutral
Investment method
Commodity/Energy, Synthetic
Quick stats
1 Year return
-
1 Year rank in sector
-
Sector
FO Hedge/Stru Prod - Commodity
Yield
-
Fund size
£20m (£22m last year)
Top in this sector
Fund name1 Year
Vontobel HrcrtCom14.6%
Allianz Dynamic Commodities8.4%
Pictet PAF Commo-4.2%
Russell OW ComLonNeSt-6.3%
ML ML MLCX Comm Alpha-
...more in FO Hedge/Stru Prod - Commodity

Performance snapshot

Holdings snapshot

  • No data available.
  • Energy31%
    Fishery, Agriculture & Forestry28.9%
    Other Metals17.1%
    Precious Metals & Stones15.6%
    Soft Commodities7.4%
  • No data available.

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.4%-0.1%2.1%---
Sector0.8%-0.1%-0.2%-0.2%-4.4%-10.7%
Rank within sector4 / 43 / 51 / 5---
Quartile4th3rd1st
Calendar performance
 YTD - 20162015201420132012
Fund-----
Sector0.3%-4.6%-0.6%-1.4%-4.5%
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.
-
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 high101.6
52 week low95.17
Current bid price-
Current offer price-
Current mid price100.03
Region
No data available.
Industry sector
1Energy31.04%
2Fishery, Agriculture & Forestry28.85%
3Other Metals17.11%
4Precious Metals & Stones15.59%
5Soft Commodities7.41%
Asset type
No data available.
Individual holdings
No data available.
Management
Fund manager group
Merrill Lynch
Fund manager company
Merrill Lynch International
Fund type
Offshore Fund
Fund objective
The MLCX Alpha F5 Total Return Index ("MLCXAF5 Index") was designed by BofA ML Commodity Research as a broad-based, UCITS IV compliant commodity index providing a market neutral exposure to commodity markets. The MLCX Alpha F5 Total Return Index is a Long - Short index replicating the outperformance of the MLCXA01 Index over the DJUBS Index on a five times leveraged basis. The MLCXAF5 Index is designed to meet the requirements set by the UCITS Directives. Under UCITS IV rules, investing in a commodity futures index is permitted as long as each sector component of the index does not exceed 20%, although one sector may represent up to 35% of the broad index. The MLCXAF5 Index is five times leveraged meaning that its level increases by five times the outperformance of the MLCXA01 Index compared to the DJUBS Index and increases by five times the underperformance of the MLCXA01 Index compared to the DJUBS Index. Certain share classes have reduced participation in the MLCXAF5 Index meaning that these share classes are less than five times exposed on a net basis to the MLCXA01 vs DJ UBS strategy. The Fund offers investment opportunities through three different share classes (Alpha 1, Alpha 3, Alpha 5), each tracking a Reference Index linked to the performance of MLCXAF5 strategy as follows: Each of the Reference Indices is calculated on a "total return after costs" basis using : 1) the daily performance of the MLCXAF5 Long - Short strategy on an "excess return before cost" basis, 2) multiplied by the relevant Participation Level, 3) decreased of the relevant daily roll costs, 4) compounded by the daily interest rate.
Benchmark
  • MLCX 5 ALS Index
Investment style
Passive/Tracking,Market Neutral
Investment method
Commodity/Energy, Synthetic
Fund manager
NameSinceBiography
James Munce22/02/2016
Compliance
Transparent for Austrian Tax, UCITS IV Compliant, UCITS V 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, Singapore, Sweden
ML Merrill Lynch MLCX Commodity Alpha B-5 Acc EUR
Initial charge-
Annual charge0.85%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price120.65
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN8CZ
ML Merrill Lynch MLCX Commodity Alpha B-5 Acc GBP
Initial charge-
Annual charge0.85%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price124.15
CurrencyGBP
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN8DA
ML Merrill Lynch MLCX Commodity Alpha B-5 Acc USD
Initial charge-
Annual charge0.85%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price123.25
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN8DB
ML Merrill Lynch MLCX Commodity Alpha C-5 Acc EUR
Initial charge-
Annual charge-
Min single investment£10,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price109.6
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN8DC
ML Merrill Lynch MLCX Commodity Alpha C-5 Acc USD
Initial charge-
Annual charge-
Min single investment£10,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price110.65
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN8DD
ML Merrill Lynch MLCX Commodity Alpha E 5 Acc EUR
Initial charge-
Annual charge0.85%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price100.03
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN42P
Data provided by

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You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.