Fact sheet: Marlborough High Yld Fxd Int

Fund information
Fund name
Marlborough High Yield Fixed Interest P Inc
Fund manager company
Marlborough Fund Managers
Fund type
Unit Trust
Fund managers
  • Ben Pakenhamsince 01/03/2015
  • Steven Logansince 01/03/2015
Fund objective
The objective of the scheme is to provide a high level of income with the opportunity for some long-term capital growth. The Scheme will invest in a portfolio largely comprising fixed, variable rate and index related securities issued by corporates, government, supranational institutions and local and regional agencies, both in the UK and internationally, as well as other securities deemed to be appropriate by the Manager.
Benchmark
  • Mstar (IA) £ High Yield Bond
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
5.2%
1 Year rank in sector
17/23
Sector
UT Sterling High Yield
Yield
5.8%
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.
0.84%
Fund size
£53m (£49m 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.
35
Bid price
74.87
Offer price
75.82
Top in this sector
Fund name1 Year
Fidelity Global High Yield11.7%
Newton Global Hi Yield Bd10.3%
L&G High Income Trust9.7%
Investec MonthlyHiInc9.4%
JPM Global High Yield Bond8.8%
...more in UT Sterling High Yield

Performance snapshot

Holdings snapshot

  • Europe ex UK55.6%
    UK34.5%
    North America7%
    Money Market4.7%
    Australasia0.7%
  • B51.6%
    BB20.1%
    Non-Rated11.3%
    CCC9.1%
    BBB4.7%
  • Europe ex UK Fixed Interest55.6%
    UK Fixed Interest34.5%
    North American Fixed Interest7%
    Money Market4.7%
    Asia Pacific Fixed Interest0.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.5%0.7%3.3%5.2%14.2%53.4%
Sector-0.4%-0.2%4.2%6.5%10.3%40.7%
Rank within sector2 / 234 / 2317 / 2317 / 235 / 227 / 20
Quartile1st1st3rd3rd1st2nd
Calendar performance
 YTD - 20162015201420132012
Fund5.8%4.6%2.2%7.9%24.5%
Sector8%-0.3%1.8%6.2%18.4%
Rank within sector20 / 233 / 2313 / 2212 / 214 / 20
Quartile4th1st3rd3rd1st
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.
1.73
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.
0.84
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.
0.24
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%.
4.4
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.
2.52
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.
0.46
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.
0.7
Price movement
52 week high76.15
52 week low70.36
Current bid price74.87
Current offer price75.82
Current mid price-
Region
1Europe ex UK55.6%
2UK34.5%
3North America7%
4Money Market4.7%
5Australasia0.7%
6European Emerging Markets0.2%
7International-2.7%
Industry sector
1B51.6%
2BB20.1%
3Non-Rated11.3%
4CCC9.1%
5BBB4.7%
6Money Market4.7%
7A1.1%
8Others-2.6%
Asset type
1Europe ex UK Fixed Interest55.6%
2UK Fixed Interest34.5%
3North American Fixed Interest7%
4Money Market4.7%
5Asia Pacific Fixed Interest0.7%
6European Emerging Fixed Interest0.2%
7Global Fixed Interest-2.7%
Individual holdings
1CURRENCY CONTRACT - GBPPOUND STERLING64.87%
2PGH CAPITAL PLC 6.625% GTD SUB NTS 18/12/25 GBP1000001.98%
3ZINC CAPITAL SA 8.875% NTS 15/05/18 EUR1000 REG S1.87%
4INTERNATIONAL PERSONAL FINANCE PLC 5.75% SNR UNSC UNSB NTS 7/4/21 EUR1000001.77%
5WIND ACQUISITION FINANCE SA 7% NTS 23/04/21 EUR10001.7%
6CONVATEC HEALTHCARE E SA 10.875% SNR NTS 15/12/18 EUR1000 REG S1.64%
7NUMERICABLE SFR 5.625% BDS 15/05/24 EUR100000 REG S1.51%
8ALBA GROUP 8% BDS 15/05/18 EUR100000 REG S1.5%
9LLOYDS BANK PLC 13% STEP-UP PERP CAP SECS GBP1000001.49%
Management
Fund manager group
Marlborough Fund Managers
Fund manager company
Marlborough Fund Managers
Fund type
Unit Trust
Fund objective
The objective of the scheme is to provide a high level of income with the opportunity for some long-term capital growth. The Scheme will invest in a portfolio largely comprising fixed, variable rate and index related securities issued by corporates, government, supranational institutions and local and regional agencies, both in the UK and internationally, as well as other securities deemed to be appropriate by the Manager.
Benchmark
  • Mstar (IA) £ High Yield Bond
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Ben Pakenham01/03/2015Ben has more than 10 years’ experience in high yield and has been part of the investment team since 2011.
Steven Logan01/03/2015Steven Logan is Head of European High Yield Bonds and joined Aberdeen following the SWIP acquisition in April 2014. Steve joined SWIP in 2001 as an Investment Director and became Head of European High Yield in 2006. Steven joined SWIP from Standard Life Investments where he was a Credit Analyst and instrumental in the launch of their High Yield Bond fund. Previously, Steve was part of the Leveraged Finance Team at Sumitomo Trust, working on some of Europe’s earliest High Yield Bond issues, leveraged loan and mezzanine transactions. Prior to this Steve was with Hill Samuel Bank for seven years where he worked extensively in distressed debt workout situations. Steve has 25 years credit market experience and he has been managing European High Yield portfolios for 15 years. Steven is an ACIB (Associate of the Chartered Institute of Bankers) and holds a BA (Hons) in Banking and Finance.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Marlborough High Yield Fixed Interest A
Initial charge5.25%
Annual charge1.5%
Min single investment£1,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)1.59%
Total expense ratio (TER)1.58%
Bid price73.35
Offer price77.82
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeQM64
Marlborough High Yield Fixed Interest B Inc
Initial charge5%
Annual charge1%
Min single investment£50,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)1.09%
Total expense ratio (TER)-
Bid price74.12
Offer price78.43
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeI3PA
Marlborough High Yield Fixed Interest P Inc
Initial charge1%
Annual charge0.75%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)0.84%
Total expense ratio (TER)-
Bid price74.87
Offer price75.82
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeI3PB
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