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
11.5%
1 Year rank in sector
24/45
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.
1.34%
Fund size
£459m (£440m 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.
86
Top in this sector
Fund name1 Year
Candriam GFUS HiYld Crp Bd27.7%
Old Mutual MtyInc HiYdBd23.5%
Pioneer US Hi Yd15.9%
BNY Mellon Gbl Hi Yld Bd15.5%
Morg Stnly US$ HiYd Bd15.2%
...more in FO Fixed Int - USD High Yield

Performance snapshot

Holdings snapshot

  • USA79.4%
    Canada4.2%
    Money Market3.3%
    UK2.7%
    Netherlands2.6%
  • Media10.8%
    Energy10.7%
    Telecommunications10.2%
    Basic Industries9.9%
    Health Care9.2%
  • US Fixed Interest95.6%
    Money Market3.3%
    Property1.1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund1.7%2.2%3.8%11.5%12.8%-
Sector1.3%1.6%3%10.7%9.3%29.4%
Rank within sector13 / 517 / 4912 / 4624 / 4512 / 35-
Quartile2nd1st2nd3rd2nd
Calendar performance
 YTD - 20172016201520142013
Fund3.4%13.4%-3.7%3.3%5.7%
Sector2.3%12.7%-3.1%0.7%6.2%
Rank within sector6 / 4920 / 4421 / 387 / 3417 / 33
Quartile1st2nd3rd1st3rd
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.
0.78
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.
1.1
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.
0.1
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%.
5.72
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.
1.48
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 high123.66
52 week low109.89
Current bid price-
Current offer price-
Current mid price123.62
Region
1USA79.35%
2Canada4.22%
3Money Market3.26%
4UK2.68%
5Netherlands2.59%
6Luxembourg1.94%
7France1.79%
8Italy1.35%
9Switzerland0.77%
Industry sector
1Media10.75%
2Energy10.68%
3Telecommunications10.24%
4Basic Industries9.92%
5Health Care9.18%
6Banks7.72%
7Leisure5.78%
8Capital Goods5.21%
9Technology5.04%
Asset type
1US Fixed Interest95.64%
2Money Market3.26%
3Property1.1%
Individual holdings
1SPRINT NEXTEL CORP 9% BDS 15/11/18 USD1000 144A1.42%
2UNIVISION COMMUNICATIONS INC 6.75% BDS 15/09/22 USD1000 144A1.15%
3INTERNATIONAL GAME TECHNOLOGY 6.5% BDS 15/02/25 USD 10000.95%
4T-MOBILE US INC 6.731% BDS 28/04/22 USD20000.94%
5GMAC CAPITAL TRUST I 8.125 02/15/20400.86%
6SCIENTIFIC GAMES INTL INC 10% BDS 01/12/22 USD 20000.86%
7CLEAR CHANNEL WORLDWIDE0.85%
8LINCOLN NATIONAL CORP FLTG RATE NTS 17/05/66 USD10000.82%
9CENTURYLINK INC 7.65% BDS 15/03/42 USD10000.78%
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)0.93%
Total expense ratio (TER)0.88%
Bid price-
Offer price-
Mid price115.74
CurrencyEUR
Price updated25/04/2017
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)0.93%
Total expense ratio (TER)0.88%
Bid price-
Offer price-
Mid price126.02
CurrencyUSD
Price updated25/04/2017
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)1.34%
Total expense ratio (TER)1.34%
Bid price-
Offer price-
Mid price113.54
CurrencyEUR
Price updated25/04/2017
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)1.34%
Total expense ratio (TER)1.34%
Bid price-
Offer price-
Mid price123.62
CurrencyUSD
Price updated25/04/2017
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)2.09%
Total expense ratio (TER)2.08%
Bid price-
Offer price-
Mid price109.89
CurrencyEUR
Price updated25/04/2017
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)2.09%
Total expense ratio (TER)2.08%
Bid price-
Offer price-
Mid price119.65
CurrencyUSD
Price updated25/04/2017
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)1.34%
Total expense ratio (TER)1.33%
Bid price-
Offer price-
Mid price106.77
CurrencyEUR
Price updated25/04/2017
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)1.34%
Total expense ratio (TER)1.33%
Bid price-
Offer price-
Mid price762.27
CurrencySEK
Price updated25/04/2017
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)0.93%
Total expense ratio (TER)0.88%
Bid price-
Offer price-
Mid price830.31
CurrencySEK
Price updated25/04/2017
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)0.07%
Total expense ratio (TER)0.05%
Bid price-
Offer price-
Mid price97.17
CurrencyEUR
Price updated25/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeF42I
Nordea 1 North American 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)0.02%
Total expense ratio (TER)0.01%
Bid price-
Offer price-
Mid price126.45
CurrencyUSD
Price updated25/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeC39U
Data provided by

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