Fact sheet: Nordea 1 RnmbHghYldBnd

Fund information
Fund name
Nordea 1 Renminbi High Yield Bond BP CNH
Fund manager company
Nordea
Fund type
Offshore Fund
Fund managers
  • James Husince 05/05/2015
  • Raymond Guisince 05/05/2015
Fund objective
The fund seeks to achieve attractive risk-adjusted return over a full credit cycle by primarily investing in CNH and USD denominated Asian High Yield bonds. The fund will actively hedge USD-denominated Asian High Yield bonds into Renminbi (CNH or CNY) to benefit from the forward carry. The investment team places a strong emphasis on downside protection while making sure it is able to capture most of the upside potential. The Fund will combine a top-down allocation strategy with an accurate bottom-up credit analysis.
Benchmark
  • No Specified Index
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
10.8%
1 Year rank in sector
-
Sector
FO Fixed Int - Other Single 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.
1.84%
Fund size
£97m (£97m last year)
Top in this sector
Fund name1 Year
Income Partners RMBHiYldBd11.6%
Nordea 1 RnmbHghYldBnd10.8%
...more in FO Fixed Int - Other Single High Yield

Performance snapshot

Holdings snapshot

  • China53.6%
    Indonesia11.7%
    Money Market10.4%
    Hong Kong7.3%
    India7%
  • B30.8%
    BB30.5%
    Non-Rated16%
    BBB13.4%
    Money Market6.6%
  • Chinese Fixed Interest53.6%
    Indonesian Fixed Interest11.7%
    Money Market10.4%
    Hong Kong Fixed Interest7.3%
    Indian Fixed Interest7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.1%3.7%6.7%10.8%--
Sector-0.2%2.6%5.5%7.4%13.3%-
Rank within sector------
Quartile
Calendar performance
 YTD - 20162015201420132012
Fund8.7%----
Sector6.7%2.8%0.3%7.1%-
Rank within sector-----
Quartile
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.
-
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.
-
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.
-
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%.
-
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.
-
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.
-
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.
-
Price movement
52 week high112.22
52 week low100.17
Current bid price-
Current offer price-
Current mid price111.99
Region
1China53.63%
2Indonesia11.72%
3Money Market10.36%
4Hong Kong7.31%
5India7.02%
6Sri Lanka2.72%
7Japan1.49%
8Singapore1.47%
9Philippines1.45%
Industry sector
1B30.79%
2BB30.48%
3Non-Rated15.97%
4BBB13.35%
5Money Market6.55%
6A2.86%
Asset type
1Chinese Fixed Interest53.63%
2Indonesian Fixed Interest11.72%
3Money Market10.36%
4Hong Kong Fixed Interest7.31%
5Indian Fixed Interest7.02%
6Asia Pacific Emerging Fixed Interest2.72%
7Japanese Fixed Interest1.49%
8Singapore Fixed Interest1.47%
9Philippine Fixed Interest1.45%
Individual holdings
1LONGFOR PROPERTIES CO LTD 6.75% BDS 29/01/23 USD2000003.01%
2GEELY AUTOMOBILE HLDGS 5.25% BDS 06/10/19 USD2000002.9%
3SINOCHEM CORP (GROUP) 5% BDS 29/12/49 USD200000REG S2.88%
4GOLDEN EAGLE RETAIL GROUP 4.625% BDS 21/05/23 USD200000REG S1.85%
5KING POWER CAPITAL LTD 5.625% NTS 03/11/24 USD10001.6%
6SHIMAO PROPERTY HOLDINGS 8.375% NTS 10/02/22 USD2000001.59%
7CHINA SCE PROPERTY HLDGS LTD 10% BDS 02/07/20 USD2000001.58%
8CITIC LTD 8.625% PERP NTS USD10001.56%
9HUARONG FINANCE CO LTD 5.5% MTN 16/01/25 USD2000001.56%
Management
Fund manager group
Nordea
Fund manager company
Nordea
Fund type
Offshore Fund
Fund objective
The fund seeks to achieve attractive risk-adjusted return over a full credit cycle by primarily investing in CNH and USD denominated Asian High Yield bonds. The fund will actively hedge USD-denominated Asian High Yield bonds into Renminbi (CNH or CNY) to benefit from the forward carry. The investment team places a strong emphasis on downside protection while making sure it is able to capture most of the upside potential. The Fund will combine a top-down allocation strategy with an accurate bottom-up credit analysis.
Benchmark
  • No Specified Index
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
James Hu05/05/2015James Hu joined Income Partners investment team in early 2014 as Portfolio Manager. His work concentrates on mainly onshore RMB (“CNY”)/ offshore RMB (“CNH”) related investment, including portfolio management of the newly launched RQFII, offshore CNH Investment Grade bond strategy, and CNY rates derivatives trading. James role is to closely monitor China's macro-economic trend as well as Central Bank policies and decisions. He formulates trading ideas based on comprehensive analysis of liquidity, demand-supply, credit and rates movement. James holds a PhD degree in statistics from Yale University (2010) and a Bachelor of Science degree in mathematics from Hong Kong University of Science and Technology (2004). He speaks Mandarin, English and Cantonese, and enjoys traveling, hiking and bossa nova music during his leisure time.
Raymond Gui05/05/2015Raymond Gui is Income Partner’s lead portfolio manager for Renminbi (RMB) denominated investment funds, and is a key member of the firm’s Investment Committee. He is also an active contributor to Asian credit and global macro views. Since joining Income Partners, Raymond has been instrumental in the firm’s early-entry initiatives in the offshore RMB fixed income market. A dedicated investment specialist covering the Chinese fixed income markets and a true follower of Income Partners’ philosophies of aligning internal and external interests, he has demonstrated his talent and knowledge by launching a first-to-market pure Investment grade RMB product followed by a high yield RMB product, and proactively set-up a ‘reverse enquiry model’ in order to help expand the offshore China primary bond issuers market. Raymond holds an MBA from the Chinese University of Hong Kong and has been a CFA charter-holder since 2005. He joined the International MBA Exchange Program (2005) at the Graduate School of Business, University of Chicago, and also holds a Masters and Bachelor degree in Finance from China’s top ‘Ivy League’ school, the Tsinghua University.
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, Belgium, Switzerland, Germany, Denmark, Spain, Estonia, Finland, France, United Kingdom, Italy, Lithuania, Luxembourg, Latvia, Netherlands, Norway, Offshore, Portugal, Singapore, Sweden
Nordea 1 Renminbi High Yield Bond AP CNH
Initial charge3%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.85%
Total expense ratio (TER)2.04%
Bid price-
Offer price-
Mid price109.51
CurrencyCNH
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFWBL
Nordea 1 Renminbi High Yield Bond AP EUR
Initial charge3%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.85%
Total expense ratio (TER)2.04%
Bid price-
Offer price-
Mid price14.6
CurrencyEUR
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFWBK
Nordea 1 Renminbi High Yield Bond BI CNH
Initial charge3%
Annual charge1%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.23%
Total expense ratio (TER)1.22%
Bid price-
Offer price-
Mid price112.96
CurrencyCNH
Price updated22/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFTYK
Nordea 1 Renminbi High Yield Bond BI EUR
Initial charge3%
Annual charge1%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.23%
Total expense ratio (TER)1.22%
Bid price-
Offer price-
Mid price15.06
CurrencyEUR
Price updated22/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFTYL
Nordea 1 Renminbi High Yield Bond BI USD
Initial charge3%
Annual charge1%
Min single investment£75,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.25%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price16.92
CurrencyUSD
Price updated22/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE9ET
Nordea 1 Renminbi High Yield Bond BP CNH
Initial charge3%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.84%
Total expense ratio (TER)1.84%
Bid price-
Offer price-
Mid price111.99
CurrencyCNH
Price updated22/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFTYM
Nordea 1 Renminbi High Yield Bond BP EUR
Initial charge3%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.84%
Total expense ratio (TER)1.84%
Bid price-
Offer price-
Mid price14.93
CurrencyEUR
Price updated22/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFTYN
Nordea 1 Renminbi High Yield Bond E CNH
Initial charge3%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.6%
Total expense ratio (TER)3.04%
Bid price-
Offer price-
Mid price110.86
CurrencyCNH
Price updated22/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFTYI
Nordea 1 Renminbi High Yield Bond E EUR
Initial charge3%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.6%
Total expense ratio (TER)3.04%
Bid price-
Offer price-
Mid price14.78
CurrencyEUR
Price updated22/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFTYJ
Nordea 1 Renminbi High Yield Bond MP CNH
Initial charge3%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.84%
Total expense ratio (TER)1.85%
Bid price-
Offer price-
Mid price104.56
CurrencyCNH
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFTYO
Nordea 1 Renminbi High Yield Bond MP EUR
Initial charge3%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.84%
Total expense ratio (TER)1.85%
Bid price-
Offer price-
Mid price13.94
CurrencyEUR
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFTYQ
Nordea 1 Renminbi High Yield Bond MP USD
Initial charge3%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.84%
Total expense ratio (TER)1.85%
Bid price-
Offer price-
Mid price15.66
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFTYP
Data provided by

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