Fact sheet: Morg Stnly Erpn Cur HiYd Bd

Fund information
Fund name
Morg Stnly European Currencies High Yield Bond I EUR
Fund manager company
Morgan Stanley Investment Fund
Fund type
Offshore Fund
Fund managers
  • Leon Grenyersince 29/06/2002
  • Alice La Trobe-Westonsince 29/06/2005
Fund objective
Seeks to provide an attractive rate of return, measured in euro, through investments worldwide primarily in lower rated and unrated fixed income securities issued by governments, agencies and corporations that offer a yield above that generally available on debt securities in the four highest rating categories of S&P or Moody's denominated in European currencies.
Benchmark
  • BofA ML European Currency High Yield 3% Constrained Ex-Sub Financials Index
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
5.6%
1 Year rank in sector
7/26
Sector
FO Fixed Int - Europe
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.
0.73%
Fund size
£1,336m (£1,100m 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.
68
Top in this sector
Fund name1 Year
Robeco Eurpn Hi Yld Bds7.9%
T. Rowe Price EurHiYdBd7.3%
Fidelity Inst Eur Hi Yld6.6%
Babson Capital EnHgYdBd6.2%
Henderson HzEurHighYldBd6.1%
...more in FO Fixed Int - Europe

Performance snapshot

Holdings snapshot

  • UK21.4%
    France12%
    Spain8.7%
    Italy8.5%
    Money Market8.1%
  • Telecommunications14.8%
    Cash & Cash Equivalents8.1%
    Automotive5.9%
    Oil & Gas4.9%
    Paper - Packaging & Printing4.6%
  • UK Fixed Interest21.4%
    French Fixed Interest12%
    Spanish Fixed Interest8.7%
    Italian Fixed Interest8.5%
    Money Market8.1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1%-1%3.5%5.6%14.7%61.4%
Sector-0.7%-0.5%2.1%2.8%10.6%31.1%
Rank within sector22 / 2619 / 275 / 267 / 268 / 193 / 16
Quartile4th3rd1st2nd2nd1st
Calendar performance
 YTD - 20162015201420132012
Fund7.3%1.3%4.4%10.3%26.4%
Sector3.9%1.1%5.2%4.2%11.7%
Rank within sector6 / 2611 / 2110 / 195 / 182 / 16
Quartile1st3rd3rd2nd1st
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.
-1.08
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.
1.69
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.
0.36
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%.
5.09
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.
3.05
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.
0.47
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.
0.77
Price movement
52 week high25.26
52 week low22.01
Current bid price-
Current offer price-
Current mid price24.85
Region
1UK21.37%
2France11.99%
3Spain8.66%
4Italy8.49%
5Money Market8.09%
6Germany7.99%
7USA7.1%
8Luxembourg5.81%
9Netherlands4.41%
Industry sector
1Telecommunications14.82%
2Cash & Cash Equivalents8.09%
3Automotive5.88%
4Oil & Gas4.92%
5Paper - Packaging & Printing4.62%
6Electricity Supply4.28%
7Foods4.16%
8Leisure4.11%
9Media3.88%
Asset type
1UK Fixed Interest21.37%
2French Fixed Interest11.99%
3Spanish Fixed Interest8.66%
4Italian Fixed Interest8.49%
5Money Market8.09%
6German Fixed Interest7.99%
7US Fixed Interest7.1%
8Luxembourg Fixed Interest5.81%
9Dutch Fixed Interest4.41%
Individual holdings
1GAZ CAPITAL SA 3.389% MTN 20/03/20 EUR10001.5%
2FIAT CHRYSLER FINANCE EUROPE 6.75% BDS 14/10/19 EUR10001.42%
3TESCO CORPORATE TREASURY SVCS PLC 2.5% NTS 01/07/24 EUR1000001.32%
4ALTICE SA 7.25% BDS 15/05/22 EUR1000001.29%
5WIND ACQUISITION FINANCE SA 7% BDS 23/04/21 EUR1000144A1.21%
6ZF NORTH AMERICA CAPITAL INC, 2.750000%, 2023-04-271.12%
7CEMEX S.A.B. DE C.V. 4.375% BDS 05/03/23 EUR1000001.08%
8SOFTBANK GROUP CORP 4.75% BDS 30/07/25 EUR1000001.04%
9OLIVETTI FINANCE NV 7.75% 24/01/20331.01%
Management
Fund manager group
Morgan Stanley
Fund manager company
Morgan Stanley Investment Fund
Fund type
Offshore Fund
Fund objective
Seeks to provide an attractive rate of return, measured in euro, through investments worldwide primarily in lower rated and unrated fixed income securities issued by governments, agencies and corporations that offer a yield above that generally available on debt securities in the four highest rating categories of S&P or Moody's denominated in European currencies.
Benchmark
  • BofA ML European Currency High Yield 3% Constrained Ex-Sub Financials Index
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Leon Grenyer29/06/2002Leon is a member of the Fixed Income team. He joined Morgan Stanley in 2002 and has 16 years of investment experience. Prior to joining the firm, Leon was a credit analyst and investment analyst at Abbey National Treasury Services. He received a B.S. in geography from the University of Bristol.
Alice La Trobe-Weston29/06/2005Alice is a member of the Fixed Income team. She joined Morgan Stanley in 2005 and has ten years of investment experience. Prior to joining the firm, she worked at Henderson Global Investors, where served as a senior analyst. Previously, she worked at JPMorgan. Alice received an MA in geography from Cambridge University and an MSc in political economy from the London School of Economics. She holds the Chartered Financial Analyst designation.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Switzerland, Chile, Germany, Spain, Finland, France, United Kingdom, Greece, Guernsey, Hong Kong, Ireland, Italy, Luxembourg, Netherlands, Norway, Offshore, Peru, Portugal, Singapore, Sweden
Morg Stnly European Currencies High Yield Bond A EUR
Initial charge4%
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.15%
Total expense ratio (TER)1.15%
Bid price-
Offer price-
Mid price22.88
CurrencyEUR
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMI34
Morg Stnly European Currencies High Yield Bond A EUR USD
Initial charge4%
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.15%
Total expense ratio (TER)1.15%
Bid price-
Offer price-
Mid price24.25
CurrencyUSD
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMH32
Morg Stnly European Currencies High Yield Bond ADX EUR
Initial charge4%
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.15%
Total expense ratio (TER)1.15%
Bid price-
Offer price-
Mid price21.93
CurrencyEUR
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNBG5
Morg Stnly European Currencies High Yield Bond ADX EUR USD
Initial charge4%
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.15%
Total expense ratio (TER)1.15%
Bid price-
Offer price-
Mid price23.24
CurrencyUSD
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNEW9
Morg Stnly European Currencies High Yield Bond AH USD
Initial charge4%
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.14%
Total expense ratio (TER)1.19%
Bid price-
Offer price-
Mid price27.91
CurrencyUSD
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFHRA
Morg Stnly European Currencies High Yield Bond AX EUR
Initial charge4%
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.15%
Total expense ratio (TER)1.15%
Bid price-
Offer price-
Mid price29.32
CurrencyEUR
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0IVO
Morg Stnly European Currencies High Yield Bond AX EUR USD
Initial charge4%
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.15%
Total expense ratio (TER)1.15%
Bid price-
Offer price-
Mid price31.07
CurrencyUSD
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0IVQ
Morg Stnly European Currencies High Yield Bond B EUR
Initial charge-
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.15%
Total expense ratio (TER)2.15%
Bid price-
Offer price-
Mid price19
CurrencyEUR
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMI35
Morg Stnly European Currencies High Yield Bond B EUR USD
Initial charge-
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.15%
Total expense ratio (TER)2.15%
Bid price-
Offer price-
Mid price20.13
CurrencyUSD
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeYM03
Morg Stnly European Currencies High Yield Bond BD EUR
Initial charge-
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.15%
Total expense ratio (TER)2.15%
Bid price-
Offer price-
Mid price27.89
CurrencyEUR
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNBG6
Morg Stnly European Currencies High Yield Bond BD EUR USD
Initial charge-
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.15%
Total expense ratio (TER)2.15%
Bid price-
Offer price-
Mid price29.55
CurrencyUSD
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNEX0
Morg Stnly European Currencies High Yield Bond BDX EUR
Initial charge-
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.15%
Total expense ratio (TER)2.15%
Bid price-
Offer price-
Mid price21.9
CurrencyEUR
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNBG7
Morg Stnly European Currencies High Yield Bond BDX EUR USD
Initial charge-
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.15%
Total expense ratio (TER)2.15%
Bid price-
Offer price-
Mid price23.21
CurrencyUSD
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNEX1
Morg Stnly European Currencies High Yield Bond BX EUR
Initial charge-
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.15%
Total expense ratio (TER)2.15%
Bid price-
Offer price-
Mid price29.28
CurrencyEUR
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0IVR
Morg Stnly European Currencies High Yield Bond BX EUR USD
Initial charge-
Annual charge0.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.15%
Total expense ratio (TER)2.15%
Bid price-
Offer price-
Mid price31.02
CurrencyUSD
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0IVT
Morg Stnly European Currencies High Yield Bond C EUR
Initial charge-
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.8%
Total expense ratio (TER)1.8%
Bid price-
Offer price-
Mid price47.43
CurrencyEUR
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeDPA1
Morg Stnly European Currencies High Yield Bond C EUR USD
Initial charge-
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.8%
Total expense ratio (TER)1.8%
Bid price-
Offer price-
Mid price50.26
CurrencyUSD
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeDPA2
Morg Stnly European Currencies High Yield Bond I EUR
Initial charge3%
Annual charge0.5%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.73%
Total expense ratio (TER)0.73%
Bid price-
Offer price-
Mid price24.85
CurrencyEUR
Price updated01/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeMI36
Morg Stnly European Currencies High Yield Bond I EUR USD
Initial charge3%
Annual charge0.5%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.73%
Total expense ratio (TER)0.73%
Bid price-
Offer price-
Mid price26.33
CurrencyUSD
Price updated01/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeYM04
Morg Stnly European Currencies High Yield Bond IH USD
Initial charge3%
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.77%
Total expense ratio (TER)0.77%
Bid price-
Offer price-
Mid price28.24
CurrencyUSD
Price updated01/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFHRB
Morg Stnly European Currencies High Yield Bond Z EUR
Initial charge1%
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.69%
Total expense ratio (TER)0.69%
Bid price-
Offer price-
Mid price52.1
CurrencyEUR
Price updated01/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeDPA3
Morg Stnly European Currencies High Yield Bond Z EUR USD
Initial charge1%
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.69%
Total expense ratio (TER)0.69%
Bid price-
Offer price-
Mid price55.21
CurrencyUSD
Price updated01/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeDPA4
Morg Stnly European Currencies High Yield Bond ZD EUR
Initial charge1%
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.69%
Total expense ratio (TER)0.71%
Bid price-
Offer price-
Mid price25.5
CurrencyEUR
Price updated09/02/2015
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFGSM
Morg Stnly European Currencies High Yield Bond ZD USD
Initial charge1%
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.69%
Total expense ratio (TER)0.71%
Bid price-
Offer price-
Mid price28.89
CurrencyUSD
Price updated09/02/2015
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFGSN
Morg Stnly European Currencies High Yield Bond ZH USD
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.73%
Total expense ratio (TER)0.7%
Bid price-
Offer price-
Mid price26.46
CurrencyUSD
Price updated01/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFVPV
Morg Stnly European Currencies High Yield Bond ZX EUR
Initial charge1%
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.69%
Total expense ratio (TER)0.69%
Bid price-
Offer price-
Mid price25.16
CurrencyEUR
Price updated01/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeI90P
Morg Stnly European Currencies High Yield Bond ZX EUR GBP
Initial charge1%
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.69%
Total expense ratio (TER)0.69%
Bid price-
Offer price-
Mid price21.13
CurrencyGBP
Price updated01/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeI90Q
Morg Stnly European Currencies High Yield Bond ZX EUR USD
Initial charge1%
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.69%
Total expense ratio (TER)0.69%
Bid price-
Offer price-
Mid price26.66
CurrencyUSD
Price updated01/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeI90R
Data provided by

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