Fact sheet: NN (L) Comm Enhncd

Fund information
Fund name
NN (L) Commodity Enhanced X Cap USD
Fund manager company
NN Investment Partners (LUX)
Fund type
Offshore Fund
Fund manager
  • Edwin Cuppensince 26/07/2010
Fund objective
Unhedged we aim to beat the performance of the benchmark Bloomberg Commodity Total Return Index. There is no benchmark for this specific hedged share class as we apply a currency hedging strategy. The fund provides diversified exposure to commodity sectors such as Energy, Agriculture, Industrial Metal, Precious Metals and Live Cattle. The fund's positions to the individual commodities are approximately equal to those of the benchmark. However the end date of the commodity contracts may deviate from the contract dates of which the benchmark is composed. The reason for this is that the fund aims to minimize the roll loss, or maximize the roll return, with roll referring to renewing expiring commodity contracts. It also aims to benefit from holding earlier the futures contracts that passive products and traditional indices will buy during the next period as well as from the relative price differences of certain commodities that are part of the same value chain. The positions are determined by an in-house built mathematical model. There are strict risk controls in place to limit the risk of the fund. The fund mainly invests in short term US treasuries and instruments that generate the performance of the commodities. The sub-funds base currency is US dollar (USD) and the sub-fund can be exposed to non-US dollar currencies. By hedging this share class we aim to exchange the base currency of the sub-fund (USD) with the currency of this share class Euro (EUR). The exposure towards non-EUR currencies in the sub-fund remains in this share class. A currency hedge consists of taking an offsetting position in another currency. You can sell your participation in this fund on each (working) day on which the value of the units is calculated, which for this fund occurs daily. The fund does not aim to provide you with a dividend. It will reinvest all earnings.
Benchmark
  • Bloomberg Commodity
Investment style
Active
Investment method
Indices
Quick stats
1 Year return
2.9%
1 Year rank in sector
59/102
Sector
FO Commodity & Energy
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.
1.65%
Fund size
£169m (£64m 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.
109
Top in this sector
Fund name1 Year
Pictet Timber33.5%
KBI Inst Wtr32.8%
Baring Global Mining32.7%
SIA Long Term Invest Nat Res32.5%
Pictet Clean Energy30.5%
...more in FO Commodity & Energy

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.2%-3.8%-1.3%2.9%-37.1%-40.4%
Sector-0.3%-3.7%1.8%7.2%-15.8%-20.9%
Rank within sector55 / 10144 / 10263 / 10259 / 10276 / 9458 / 75
Quartile3rd2nd3rd3rd4th4th
Calendar performance
 YTD - 20172016201520142013
Fund-2.5%12.2%-26.2%-15.5%-10.9%
Sector-0.4%23.1%-19.8%-9%-6.6%
Rank within sector60 / 10268 / 10168 / 9964 / 9162 / 86
Quartile3rd3rd3rd3rd3rd
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.
-10.45
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.
0.67
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.
-0.02
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%.
12.33
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.
9.31
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.
-0.99
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.
0.57
Price movement
52 week high144.54
52 week low129.98
Current bid price-
Current offer price-
Current mid price136.71
Region
No data available.
Industry sector
1Others100%
Asset type
No data available.
Individual holdings
1UNITED STATES OF AMER TREAS BILLS 0% TB 17/08/17 USD100012.39%
2UNITED STATES OF AMER TREAS BILLS 0% TB 13/07/17 USD10012.1%
30.000% TREASURY BILL 06/22/201711.81%
40.000% TREASURY BILL 07/20/201711.8%
50.000% TREASURY BILL 03/02/201710.35%
60.000% TREASURY BILL 04/27/20177.39%
70.000% TREASURY BILL 05/25/20176.85%
80.000% TREASURY BILL 03/30/20176.51%
90.000% TREASURY BILL 09/14/20175.9%
Management
Fund manager group
ING
Fund manager company
NN Investment Partners (LUX)
Fund type
Offshore Fund
Fund objective
Unhedged we aim to beat the performance of the benchmark Bloomberg Commodity Total Return Index. There is no benchmark for this specific hedged share class as we apply a currency hedging strategy. The fund provides diversified exposure to commodity sectors such as Energy, Agriculture, Industrial Metal, Precious Metals and Live Cattle. The fund's positions to the individual commodities are approximately equal to those of the benchmark. However the end date of the commodity contracts may deviate from the contract dates of which the benchmark is composed. The reason for this is that the fund aims to minimize the roll loss, or maximize the roll return, with roll referring to renewing expiring commodity contracts. It also aims to benefit from holding earlier the futures contracts that passive products and traditional indices will buy during the next period as well as from the relative price differences of certain commodities that are part of the same value chain. The positions are determined by an in-house built mathematical model. There are strict risk controls in place to limit the risk of the fund. The fund mainly invests in short term US treasuries and instruments that generate the performance of the commodities. The sub-funds base currency is US dollar (USD) and the sub-fund can be exposed to non-US dollar currencies. By hedging this share class we aim to exchange the base currency of the sub-fund (USD) with the currency of this share class Euro (EUR). The exposure towards non-EUR currencies in the sub-fund remains in this share class. A currency hedge consists of taking an offsetting position in another currency. You can sell your participation in this fund on each (working) day on which the value of the units is calculated, which for this fund occurs daily. The fund does not aim to provide you with a dividend. It will reinvest all earnings.
Benchmark
  • Bloomberg Commodity
Investment style
Active
Investment method
Indices
Fund manager
NameSinceBiography
Edwin Cuppen26/07/2010Edwin has 11 years experience in investment management. He started his career in 2000 as a currency trader in the ABN AMRO Bank. Subsequently he worked for Rabobank Group Treasury. He joined ING Investment Management in 2007 and is responsible for portfolio funds and structured derivatives trades.
Compliance
Transparent for Swiss Tax, Transparent for German Tax, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Czech Republic, Germany, Spain, Finland, France, United Kingdom, Greece, Italy, Luxembourg, Netherlands, Offshore, Portugal, Slovakia, Sweden
NN (L) Commodity Enhanced I Cap USD
Initial charge2%
Annual charge0.5%
Min single investment£250,000
Min regular saving£250,000
Available in ISANo
Ongoing charge (OCF)0.71%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price3501.04
CurrencyUSD
Price updated26/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKJB6
NN (L) Commodity Enhanced I Hedged Cap EUR
Initial charge2%
Annual charge0.5%
Min single investment£250,000
Min regular saving£250,000
Available in ISANo
Ongoing charge (OCF)0.73%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price2677.07
CurrencyEUR
Price updated26/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code04OU
NN (L) Commodity Enhanced I Hedged Cap EUR USD
Initial charge2%
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.73%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price2911.72
CurrencyUSD
Price updated26/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code04OV
NN (L) Commodity Enhanced N Hedged Cap EUR
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.87%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price144.65
CurrencyEUR
Price updated26/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFDKG
NN (L) Commodity Enhanced N Hedged Cap EUR USD
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.87%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price157.33
CurrencyUSD
Price updated26/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFDKH
NN (L) Commodity Enhanced P Hedged Cap EUR
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.37%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price141.86
CurrencyEUR
Price updated26/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeLTS4
NN (L) Commodity Enhanced X Cap USD
Initial charge5%
Annual charge1.3%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.65%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price136.71
CurrencyUSD
Price updated26/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeM1R0
NN (L) Commodity Enhanced X Hedged Cap CZK
Initial charge5%
Annual charge1.3%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.67%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price235.42
CurrencyCZK
Price updated26/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code05ZH
NN (L) Commodity Enhanced X Hedged Cap CZK USD
Initial charge5%
Annual charge1.3%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.67%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price9.52
CurrencyUSD
Price updated26/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code05ZI
NN (L) Commodity Enhanced ZZ Hedged i Cap EUR
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price5185.84
CurrencyEUR
Price updated26/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeC53W
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