Fact sheet: Nordea 1 Gbl High Yd Bd

Fund information
Fund name
Nordea 1 Global High Yield Bond BP USD
Fund manager company
Nordea
Fund type
Offshore Fund
Fund manager
  • Dan Robertssince 10/02/2010
Fund objective
The fund seeks to achieve attractive risk-adjusted return by identifying target bonds and eliminating uncompensated risk. The fund manager rigorously screens the investment universe for risk in order to quantify upside potential using bond analysis, not equity-style analysis. By targeting the sweet spot for risk compensation, the managers goal is to eliminate rather than include bonds. The underlying belief is that to deliver attractive returns it is more important to recognise which bonds not to include in the portfolio, than to focus on the ones that should be selected.
Benchmark
  • BofA ML Developed Markets High Yield Constrained Index
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
9.4%
1 Year rank in sector
24/73
Sector
FO Fixed Int - Global High Yield
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.
1.35%
Fund size
£586m (£607m 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.
39
Top in this sector
Fund name1 Year
Pioneer SICV-Gbl Hi Yld30.2%
Natixis LoomsSyles HInc23.4%
T. Rowe Price GblHghIncBd13.6%
Franklin High Yield12.6%
Nomura Gbl Hgh Yld Bd12.5%
...more in FO Fixed Int - Global High Yield

Performance snapshot

Holdings snapshot

  • USA75.4%
    Money Market5.2%
    UK4%
    France2.7%
    Germany2.5%
  • Basic Industries14.2%
    Capital Goods9.9%
    Energy8.3%
    Media7.6%
    Telecommunications7.2%
  • US Fixed Interest75.4%
    Money Market5.2%
    UK Fixed Interest4%
    French Fixed Interest2.7%
    German Fixed Interest2.5%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.1%-0.9%4.2%9.4%5.7%30.1%
Sector0.2%0.5%4.9%8.4%9.4%32.9%
Rank within sector49 / 8267 / 7940 / 7524 / 7344 / 5826 / 43
Quartile3rd4th3rd2nd4th3rd
Calendar performance
 YTD - 20162015201420132012
Fund11.4%-6%0.1%6.5%15.6%
Sector10.1%-2.5%1.4%5.2%15.5%
Rank within sector27 / 7354 / 6547 / 5824 / 4922 / 43
Quartile2nd4th4th2nd3rd
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.
-2.04
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.
1.32
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
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%.
6.44
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.
2.27
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.
-0.52
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.
0.93
Price movement
52 week high15.22
52 week low12.9
Current bid price-
Current offer price-
Current mid price14.98
Region
1USA75.44%
2Money Market5.21%
3UK4.03%
4France2.69%
5Germany2.51%
6Canada2.3%
7Luxembourg1.67%
8New Zealand1.48%
9Ireland1.02%
Industry sector
1Basic Industries14.2%
2Capital Goods9.85%
3Energy8.34%
4Media7.57%
5Telecommunications7.17%
6Technology6.39%
7Health Care6.34%
8Services5.35%
9Money Market5.21%
Asset type
1US Fixed Interest75.44%
2Money Market5.21%
3UK Fixed Interest4.03%
4French Fixed Interest2.69%
5German Fixed Interest2.51%
6Canadian Fixed Interest2.3%
7Luxembourg Fixed Interest1.67%
8New Zealand Fixed Interest1.48%
9Irish Fixed Interest1.02%
Individual holdings
1ARCELORMITTAL SA 7% BDS 15/10/39 USD10001.38%
2HCA INC 5% BDS 15/03/24 USD20001.03%
3CCO HLDGS LLC/CAP CORP BDS 01/05/26 USD2000 144A0.97%
4ICAHN ENTERPRISES LP 6% NTS 01/08/20 USD10000.97%
5ALTICE SA 7.75% BDS 15/05/22 USD2000000.89%
6REYNOLDS GROUP ISSUER INC/LLC/SA 8.25% BDS 15/02/21 USD10000.89%
7HUNTSMAN INTERNATIONAL 4.875% NTS 15/11/20 USD10000.86%
8ALLY FINANCIAL INC 8% SNR GTD NTS 01/11/31 USD10000.85%
9FIRST DATA CORP 7% BDS 01/12/23 USD20000.85%
Management
Fund manager group
Nordea
Fund manager company
Nordea
Fund type
Offshore Fund
Fund objective
The fund seeks to achieve attractive risk-adjusted return by identifying target bonds and eliminating uncompensated risk. The fund manager rigorously screens the investment universe for risk in order to quantify upside potential using bond analysis, not equity-style analysis. By targeting the sweet spot for risk compensation, the managers goal is to eliminate rather than include bonds. The underlying belief is that to deliver attractive returns it is more important to recognise which bonds not to include in the portfolio, than to focus on the ones that should be selected.
Benchmark
  • BofA ML Developed Markets High Yield Constrained Index
Investment style
High Yield
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Dan Roberts10/02/2010Dan C. Roberts, Ph.D. Senior Managing Director Chief Strategist High Yield Active Core Division. In October 2004 Dan Roberts came to MacKay when the firm acquired the fixed income division of Pareto Partners. Dan was Chief Investment Officer and an equity shareholder at Pareto. Dan assembled the US fixed income team while serving 10 years at UBS Asset Management, most recently as Managing Director and head of the fixed income group. Prior to its acquisition by UBS, he was a Financial Economist for Chase Manhattan Bank, NA and later was head of Global Interest Rate and Currency Swaps Trading. In 1997, Dans fixed income group was lifted out of UBS by Forstmann-Leff International and was subsequently purchased by Pareto Partners, effective February 2000. His regulatory and government experience included a two-year stint at the US Securities and Exchange Commission, serving at The White House with the Presidents Council of Economic Advisors and as Executive Director (Chief of Staff) of the US Congress Joint Economic Committee. Dan holds a BBA and a Ph.D. from University of Iowa.
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, Switzerland, Germany, Denmark, Spain, Estonia, Finland, France, United Kingdom, Italy, Lithuania, Luxembourg, Latvia, Netherlands, Norway, Offshore, Poland, Portugal, Singapore, Sweden
Nordea 1 Global High Yield Bond BC USD
Initial charge3%
Annual charge0.8%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.05%
Total expense ratio (TER)1.04%
Bid price-
Offer price-
Mid price15.2
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFD7B
Nordea 1 Global High Yield Bond BI USD
Initial charge3%
Annual charge0.7%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.95%
Total expense ratio (TER)0.95%
Bid price-
Offer price-
Mid price15.26
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0DZJ
Nordea 1 Global High Yield Bond BP Acc 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)-
Bid price-
Offer price-
Mid price13.97
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNDAJ
Nordea 1 Global High Yield Bond BP USD
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.35%
Total expense ratio (TER)1.35%
Bid price-
Offer price-
Mid price14.98
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeICI4
Nordea 1 Global High Yield Bond E EUR
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)2.1%
Bid price-
Offer price-
Mid price13.25
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF1SL
Nordea 1 Global High Yield Bond E PLN
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)2.1%
Bid price-
Offer price-
Mid price58.66
CurrencyPLN
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMRX7
Nordea 1 Global High Yield Bond E USD
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)2.1%
Bid price-
Offer price-
Mid price14.21
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeICI5
Nordea 1 Global High Yield Bond HBI EUR
Initial charge3%
Annual charge0.7%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.93%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price11.04
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeIVU4
Nordea 1 Global High Yield Bond HBI GBP
Initial charge3%
Annual charge0.7%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.93%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price9.64
CurrencyGBP
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0HFA
Nordea 1 Global High Yield Bond HBI SEK
Initial charge3%
Annual charge0.7%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.92%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price100.17
CurrencySEK
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF8OD
Nordea 1 Global High Yield Bond HE PLN
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)2.1%
Bid price-
Offer price-
Mid price46.61
CurrencyPLN
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMRX8
Nordea 1 Global High Yield Bond HX 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)0.06%
Bid price-
Offer price-
Mid price10.89
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeNFR9
Nordea 1 Global High Yield Bond X USD
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)0.06%
Bid price-
Offer price-
Mid price13.55
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0P05
Data provided by

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