Fact sheet: Nordea 1 European Crs Crdt

Fund information
Fund name
Nordea 1 European Cross Credit BP EUR
Fund manager company
Nordea
Fund type
Offshore Fund
Fund manager
  • Jan Sørensensince 22/02/2012
Fund objective
The fund invests in the universe of high yield and investment grade bonds to take advantage of structural inefficiencies created by rating agencies. More specifically, the fund invests in European corporate bonds (excluding financials) which have, at time of purchase, a long-term rating between BBB+ and B? or equivalent by any other available rating agency such as Moodys and Fitch. The cornerstone of the strategy is to exploit credit spreads/valuation variations between the different rating buckets revealing the best risk/adjusted returns. The fund follows a bottom-up approach which results in a conservative high conviction portfolio being built based on the credits? solid fundamentals.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
5.7%
1 Year rank in sector
38/46
Sector
FO Fixed Int - EUR Corporate Bond
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.
1.34%
Fund size
£1,111m (£938m 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.
60
Top in this sector
Fund name1 Year
Capital Group ECorpBdLUX27.9%
Schroder ISF €Cp Bd8.8%
JI High Grade Corporate Bonds CL7.9%
T. Rowe Price Euro Corp Bd7.5%
StanLife Inv €CrpBdSRI7.5%
...more in FO Fixed Int - EUR Corporate Bond

Performance snapshot

Holdings snapshot

  • USA16.2%
    France13.9%
    UK13.6%
    Germany13.4%
    Money Market7.3%
  • Capital Goods15.5%
    Utilities11.8%
    Basic Industries10.3%
    Media8.6%
    Automotive8.5%
  • US Fixed Interest16.2%
    French Fixed Interest13.9%
    UK Fixed Interest13.6%
    German Fixed Interest13.4%
    Money Market7.3%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.6%3.3%3.8%5.7%13.3%-
Sector-0.1%2.7%4.1%6.5%13.4%31.6%
Rank within sector46 / 478 / 4722 / 4738 / 4624 / 43-
Quartile4th1st2nd4th3rd
Calendar performance
 YTD - 20162015201420132012
Fund4.8%0.3%5.1%5.3%-
Sector5.9%-1%6.9%2.2%13.3%
Rank within sector37 / 465 / 4641 / 445 / 41-
Quartile4th1st4th1st
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.
0.2
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.
1.01
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.
0.39
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%.
3.37
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.
1.68
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.
0.15
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.
0.75
Price movement
52 week high125.27
52 week low115.5
Current bid price-
Current offer price-
Current mid price124.14
Region
1USA16.22%
2France13.86%
3UK13.57%
4Germany13.35%
5Money Market7.33%
6Netherlands5.12%
7Luxembourg5.07%
8Spain3.58%
9Ireland3.47%
Industry sector
1Capital Goods15.52%
2Utilities11.76%
3Basic Industries10.27%
4Media8.59%
5Automotive8.52%
6Telecommunications7.5%
7Money Market7.33%
8Services7.02%
9Leisure5.53%
Asset type
1US Fixed Interest16.22%
2French Fixed Interest13.86%
3UK Fixed Interest13.57%
4German Fixed Interest13.35%
5Money Market7.33%
6Dutch Fixed Interest5.12%
7Luxembourg Fixed Interest5.07%
8Spanish Fixed Interest3.58%
9Irish Fixed Interest3.47%
Individual holdings
1VATTENFALL AB 3% SUB NON CL SECS 19/03/77 EUR1000001.99%
2BALL CORP 4.375% BDS 15/12/23 EUR10001.89%
3TEOLLISUUDEN VOIMA OYJ 2.125% MTN 04/02/25 EUR1000001.88%
4SAPPI PAPIER HLDG AG 3.375% BDS 01/04/22 EUR1000REG S1.84%
5GESTAMP FUND LUX SA 3.5% BDS 15/05/23 EUR1000001.83%
6GREIF LUXEMBOURG FINANCE 7.375% NTS 15/07/21 EUR100000 REG S1.8%
7VOLKSWAGEN INTERNATIONAL FINANCE NV UNDATED FRN EUR1000001.8%
8CROWN EURO HLDGS SA 4% NTS 15/07/22 EUR10001.79%
9CELANESE US HLDGS LLC 3.25% NTS 15/10/19 EUR1000001.78%
Management
Fund manager group
Nordea
Fund manager company
Nordea
Fund type
Offshore Fund
Fund objective
The fund invests in the universe of high yield and investment grade bonds to take advantage of structural inefficiencies created by rating agencies. More specifically, the fund invests in European corporate bonds (excluding financials) which have, at time of purchase, a long-term rating between BBB+ and B? or equivalent by any other available rating agency such as Moodys and Fitch. The cornerstone of the strategy is to exploit credit spreads/valuation variations between the different rating buckets revealing the best risk/adjusted returns. The fund follows a bottom-up approach which results in a conservative high conviction portfolio being built based on the credits? solid fundamentals.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Jan Sørensen22/02/2012Jan joined us in 2009. Previously Jan worked as chief portfolio manager on credit portfolios with Danske Capital for 9 years. Jan started his career in Danske Bank as a credit analyst on international oriented major corporate customers in the Credit Department, Syndicated Loans and Corporate Banking. In between Danske Capital and Danske Bank he had a position as Vice President with Nykredit arranging and participating in acquisition finance, participation in syndicated loans and managing a portfolio of corporate bonds. Jan was one of two starting up the above mentioned business in Nykredit Bank. Jan has a general banking education and has Graduate Diploma in Business Administration, Finance and Accounting from Copenhagen Business School.
Compliance
Transparent for Austrian Tax, 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, Germany, Denmark, Spain, Estonia, Finland, France, United Kingdom, Italy, Lithuania, Luxembourg, Latvia, Netherlands, Norway, Offshore, Portugal, Singapore, Sweden
Nordea 1 European Cross Credit AC EUR
Initial charge3%
Annual charge0.6%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.87%
Total expense ratio (TER)0.86%
Bid price-
Offer price-
Mid price108.2
CurrencyEUR
Price updated27/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeBMJF
Nordea 1 European Cross Credit AI EUR
Initial charge3%
Annual charge0.5%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.71%
Total expense ratio (TER)0.7%
Bid price-
Offer price-
Mid price104.67
CurrencyEUR
Price updated27/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeF5MR
Nordea 1 European Cross Credit AP EUR
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.34%
Total expense ratio (TER)1.33%
Bid price-
Offer price-
Mid price103.32
CurrencyEUR
Price updated27/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeF43K
Nordea 1 European Cross Credit BC EUR
Initial charge3%
Annual charge0.6%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.94%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price127.26
CurrencyEUR
Price updated27/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeBMJE
Nordea 1 European Cross Credit BI EUR
Initial charge3%
Annual charge0.5%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.71%
Total expense ratio (TER)0.7%
Bid price-
Offer price-
Mid price127.8
CurrencyEUR
Price updated27/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0WRH
Nordea 1 European Cross Credit BP EUR
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.34%
Total expense ratio (TER)1.32%
Bid price-
Offer price-
Mid price124.14
CurrencyEUR
Price updated27/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0WRJ
Nordea 1 European Cross Credit E EUR
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.09%
Total expense ratio (TER)2.08%
Bid price-
Offer price-
Mid price119.91
CurrencyEUR
Price updated27/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0WRG
Nordea 1 European Cross Credit HAI USD
Initial charge3%
Annual charge0.5%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.72%
Total expense ratio (TER)0.7%
Bid price-
Offer price-
Mid price152.64
CurrencyUSD
Price updated27/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFGGH
Nordea 1 European Cross Credit HB DKK
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.25%
Total expense ratio (TER)1.31%
Bid price-
Offer price-
Mid price919.67
CurrencyDKK
Price updated27/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeBN1E
Nordea 1 European Cross Credit HB NOK
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.34%
Total expense ratio (TER)1.32%
Bid price-
Offer price-
Mid price994.16
CurrencyNOK
Price updated27/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0WRL
Nordea 1 European Cross Credit HB SEK
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.34%
Total expense ratio (TER)1.32%
Bid price-
Offer price-
Mid price1118.7
CurrencySEK
Price updated27/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0WRM
Nordea 1 European Cross Credit HBI NOK
Initial charge3%
Annual charge0.5%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.72%
Total expense ratio (TER)0.7%
Bid price-
Offer price-
Mid price1041.32
CurrencyNOK
Price updated27/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF0TF
Nordea 1 European Cross Credit HBI SEK
Initial charge3%
Annual charge0.5%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.64%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1219.43
CurrencySEK
Price updated27/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeC0MY
Nordea 1 European Cross Credit HBI SGD
Initial charge3%
Annual charge0.5%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.72%
Total expense ratio (TER)0.7%
Bid price-
Offer price-
Mid price219.46
CurrencySGD
Price updated27/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFLQT
Nordea 1 European Cross Credit X EUR
Initial charge-
Annual charge-
Min single investment£25,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.07%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price127.84
CurrencyEUR
Price updated27/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeC0MZ
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