Fact sheet: Nordea 1 North Am Hi Yd Bd

Fund information
Fund name
Nordea 1 North American High Yield Bond BP USD
Fund manager company
Nordea
Fund type
Offshore Fund
Fund managers
  • Ben Millersince 01/07/2015
  • Derek Thomssince 01/07/2015
  • Jim Schaeffersince 01/07/2015
  • Kevin Bakkersince 01/07/2015
Fund objective
The fund invests into High Yield Bonds issued by companies which are domiciled or exercise the predominant part of their economic activity in the United States of America. The fund seeks to achieve attractive risk-adjusted return by using a fundamental and research driven approach to investing in the high yield investment universe. Traditional and distressed credit analysis is the driver of the investment process and is at the core of the portfolio construction. The distressed credit analysis helps evaluate opportunities in the lower quality portion of the high yield market where dislocations may occur.
Benchmark
  • ML US High Yield Master II
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
7.5%
1 Year rank in sector
15/46
Sector
FO Fixed Int - USD 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.
1.38%
Fund size
£574m (£294m 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.
73
Top in this sector
Fund name1 Year
Candriam GFUS HiYld Corp Bd27.3%
Old Mutual MtyInc HiYdBd26.5%
Allianz US Hi Yd24.1%
UBS LBdSICVAsnHiYld$12.3%
GS AsHiYiBoPo11%
...more in FO Fixed Int - USD High Yield

Performance snapshot

Holdings snapshot

  • USA82.9%
    Canada3.8%
    Money Market2.7%
    UK2.3%
    New Zealand1.8%
  • Basic Industries10.6%
    Media9.6%
    Health Care9.4%
    Telecommunications9%
    Energy9%
  • US Fixed Interest80.9%
    Money Market6.7%
    Canadian Fixed Interest3.3%
    New Zealand Fixed Interest1.8%
    UK Fixed Interest1.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.5%5%8.6%7.5%13.6%-
Sector0.3%4.1%7.6%6.8%10.4%35.4%
Rank within sector16 / 468 / 4618 / 4615 / 4610 / 33-
Quartile2nd1st2nd2nd2nd
Calendar performance
 YTD - 20162015201420132012
Fund11.6%-3.7%3.3%5.7%-
Sector10.2%-3.1%0.7%6.2%14.1%
Rank within sector14 / 4620 / 416 / 3319 / 32-
Quartile2nd2nd1st3rd
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.
0.74
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.
1.07
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.
0.23
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%.
5.64
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.
1.4
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.
0.7
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.
0.94
Price movement
52 week high118.1
52 week low100.09
Current bid price-
Current offer price-
Current mid price117.65
Region
1USA82.85%
2Canada3.78%
3Money Market2.69%
4UK2.27%
5New Zealand1.77%
6Luxembourg1.26%
7Netherlands1.15%
8Italy1%
9France0.93%
Industry sector
1Basic Industries10.61%
2Media9.56%
3Health Care9.36%
4Telecommunications9%
5Energy8.99%
6Banks7.21%
7Technology6.09%
8Capital Goods5.79%
9Leisure5.22%
Asset type
1US Fixed Interest80.89%
2Money Market6.7%
3Canadian Fixed Interest3.25%
4New Zealand Fixed Interest1.75%
5UK Fixed Interest1.66%
6Luxembourg Fixed Interest1.09%
7Dutch Fixed Interest0.93%
8French Fixed Interest0.82%
9Italian Fixed Interest0.82%
Individual holdings
1ISHARES TRUST IBOXX USD HIGH YIELD CORPORATE BOND ETF2.79%
2COMMUNITY HEALTH SYSTEMS INC(NEW) 6.875% BDS 01/02/22 USD10001.25%
3DENALI BORROWER/FIN CORP 5.625% NTS 15/10/20 USD10001.24%
4GMAC CAPITAL TRUST I 8.125 02/15/20401.24%
5UNIVISION COMMUNICATIONS INC 6.75% BDS 15/09/22 USD1000 144A1.08%
6INTERNATIONAL GAME TECHNOLOGY 6.5% BDS 15/02/25 USD 10000.98%
7CLEAR CHANNEL WORLDWIDE0.96%
8SPRINT CORP 7.875% BDS 15/09/23 USD20000.94%
9NRG ENERGY INC 7.875% SNR NT 15/05/21 USD10000.93%
Management
Fund manager group
Nordea
Fund manager company
Nordea
Fund type
Offshore Fund
Fund objective
The fund invests into High Yield Bonds issued by companies which are domiciled or exercise the predominant part of their economic activity in the United States of America. The fund seeks to achieve attractive risk-adjusted return by using a fundamental and research driven approach to investing in the high yield investment universe. Traditional and distressed credit analysis is the driver of the investment process and is at the core of the portfolio construction. The distressed credit analysis helps evaluate opportunities in the lower quality portion of the high yield market where dislocations may occur.
Benchmark
  • ML US High Yield Master II
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Ben Miller01/07/2015
Derek Thoms01/07/2015
Jim Schaeffer01/07/2015
Kevin Bakker01/07/2015
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Transparent for German Tax, 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, Portugal, Singapore, Sweden
Nordea 1 North American High Yield Bond BI EUR
Initial charge3%
Annual charge0.7%
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 price106.62
CurrencyEUR
Price updated23/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF42F
Nordea 1 North American 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)0.94%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price119.61
CurrencyUSD
Price updated23/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF42E
Nordea 1 North American High Yield Bond BP EUR
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.38%
Total expense ratio (TER)1.36%
Bid price-
Offer price-
Mid price104.88
CurrencyEUR
Price updated23/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF42H
Nordea 1 North American High Yield Bond BP USD
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.38%
Total expense ratio (TER)1.36%
Bid price-
Offer price-
Mid price117.65
CurrencyUSD
Price updated23/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF42G
Nordea 1 North American High Yield Bond E EUR
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.13%
Total expense ratio (TER)2.11%
Bid price-
Offer price-
Mid price101.94
CurrencyEUR
Price updated23/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF42D
Nordea 1 North American High Yield Bond E USD
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.13%
Total expense ratio (TER)2.11%
Bid price-
Offer price-
Mid price114.36
CurrencyUSD
Price updated23/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF42C
Nordea 1 North American High Yield Bond HB 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)1.36%
Bid price-
Offer price-
Mid price102.58
CurrencyEUR
Price updated23/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeBN1P
Nordea 1 North American High Yield Bond HB SEK
Initial charge3%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.38%
Total expense ratio (TER)1.36%
Bid price-
Offer price-
Mid price733.47
CurrencySEK
Price updated23/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF64E
Nordea 1 North American 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)0.94%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price796.85
CurrencySEK
Price updated23/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF4AS
Nordea 1 North American 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)0.08%
Total expense ratio (TER)0.06%
Bid price-
Offer price-
Mid price92.6
CurrencyEUR
Price updated23/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF42I
Data provided by

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