Fact sheet: OMW BlackRock Abslte Rtn Bd

Fund information
Fund name
OMW BlackRock Absolute Return Bond Pn
Fund manager company
Old Mutual Wlth Life As Co Ltd
Fund type
Pension Fund
Fund managers
  • Andreas Doerrenhaussince 13/09/2015
  • Ian Winshipsince 29/09/2011
Underlying fund
BlackRock Absolute Return Bond
Fund objective
The OMW BlackRock Absolute Return Bond invests solely in the BlackRock Absolute Return Bond fund, a UK authorised Unit Trust managed by BlackRock Fund Managers Limited. The underlying fund seeks to achieve a positive absolute return for investors regardless of market movements and as such the underlying fund will not be managed against any fixed income benchmark. The underlying fund will seek to achieve this investment objective by taking long positions and using derivatives to take synthetic long and synthetic short investment positions. The underlying fund may be denominated in or hold assets in a currency other than Sterling. The performance of the fund may therefore rise and fall as a result of exchange rate fluctuations. The underlying fund invests in non-investment grade high-yielding bonds. The high yield reflects a higher risk of capital loss through default. The underlying fund invests in bonds or money market instruments (including deposits with banks or other financial institutions). The yield and/or value of the fund will fluctuate as interest rates change. There is a possibility of default, reducing capital values. The underlying fund, or some of its underlying assets, may hold derivatives, or borrow to invest ('gearing'), and the nature of these investments can lead to a higher volatility in the price of the fund. In addition, the fund may have some exposure to credit risk if a provider of derivatives fails to honour their obligation. Some of the investments in the underlying fund can be difficult to sell at times, which could affect the price of units. The underlying fund aims to deliver positive returns in any market conditions, but returns are not guaranteed. Funds in this sector must clearly state the timeframe over which they aim to meet their stated objective which must not be longer than three years. It should be noted that the performance of the OMW fund will not match that of the underlying investment due to OMW fund charges, appropriate taxation adjustment and the OMW investment process.
Benchmark
  • 3m GBP LIBOR
Investment style
Absolute Return,High Yield
Investment method
Feeder fund, Fixed Interest
Quick stats
1 Year return
2.1%
1 Year rank in sector
435/520
Sector
PN Specialist
Yield
-
Fund size
£0m (£0m 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.
10
Bid price
98.9
Offer price
104.1
Top in this sector
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L&G Nep Russia&Gtr Russia Pn74%
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Performance snapshot

Holdings snapshot

  • Others74.1%
    UK15.1%
    Canada8.3%
    France7.1%
    Money Market6.6%
  • Derivatives74.1%
    Investment Grade Bonds25.3%
    Mortgage & Secured Bonds21.7%
    Debt8%
    Money Market6.6%
  • Global Fixed Interest93.5%
    Money Market6.6%
    International Equities0%
    Alternative Investment Strategies-0.1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.3%-0.1%2.1%0.4%4.3%
Sector1.8%4.3%4%16.2%23.9%41.7%
Rank within sector531 / 551498 / 546428 / 541435 / 520350 / 386291 / 323
Quartile4th4th4th4th4th4th
Calendar performance
 YTD - 20172016201520142013
Fund0.1%0.6%0.3%-0.6%1.3%
Sector2.1%11.6%2%7.2%11%
Rank within sector452 / 547428 / 511300 / 447366 / 384293 / 357
Quartile4th4th3rd4th4th
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.
0.12
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%.
1.45
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.
5.38
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.
-1.26
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.
0.24
Price movement
52 week high99.3
52 week low96.7
Current bid price98.9
Current offer price104.1
Current mid price-
Region
1Others74.08%
2UK15.06%
3Canada8.29%
4France7.06%
5Money Market6.57%
6Italy2.87%
7Spain2.5%
8Australia2.46%
9Japan1.87%
Industry sector
1Derivatives74.05%
2Investment Grade Bonds25.34%
3Mortgage & Secured Bonds21.74%
4Debt7.96%
5Money Market6.57%
6High Yield Bond1.62%
7Others0.05%
8Government Bonds-37.33%
Asset type
1Global Fixed Interest93.5%
2Money Market6.57%
3International Equities0.01%
4Alternative Investment Strategies-0.06%
Individual holdings
1FGOLD 30YR TBA(REG A) 4 02/13/20174.16%
2TREASURY (CPI) NOTE 0.125 07/15/20262.11%
3ONTARIO(PROVINCE OF) 4.4% BDS 02/06/19 CAD10001.32%
4ALBERTA (PROVINCE OF) 1.35 09/01/20211.06%
5FNMA 30YR TBA(REG A) 3.5 02/13/20171.04%
6TURBF_7 A1 REGS0.87%
7TREASURY (CPI) NOTE 0.625 01/15/20260.8%
8TAURS_13-GMF1 A REGS0.76%
9AUSTRALIAN GOVT LOANS(CMNWLTH OF) 3% LN STK 21/03/47 AUD1000.75%
Management
Fund manager group
Skandia
Fund manager company
Old Mutual Wlth Life As Co Ltd
Fund type
Pension Fund
Fund objective
The OMW BlackRock Absolute Return Bond invests solely in the BlackRock Absolute Return Bond fund, a UK authorised Unit Trust managed by BlackRock Fund Managers Limited. The underlying fund seeks to achieve a positive absolute return for investors regardless of market movements and as such the underlying fund will not be managed against any fixed income benchmark. The underlying fund will seek to achieve this investment objective by taking long positions and using derivatives to take synthetic long and synthetic short investment positions. The underlying fund may be denominated in or hold assets in a currency other than Sterling. The performance of the fund may therefore rise and fall as a result of exchange rate fluctuations. The underlying fund invests in non-investment grade high-yielding bonds. The high yield reflects a higher risk of capital loss through default. The underlying fund invests in bonds or money market instruments (including deposits with banks or other financial institutions). The yield and/or value of the fund will fluctuate as interest rates change. There is a possibility of default, reducing capital values. The underlying fund, or some of its underlying assets, may hold derivatives, or borrow to invest ('gearing'), and the nature of these investments can lead to a higher volatility in the price of the fund. In addition, the fund may have some exposure to credit risk if a provider of derivatives fails to honour their obligation. Some of the investments in the underlying fund can be difficult to sell at times, which could affect the price of units. The underlying fund aims to deliver positive returns in any market conditions, but returns are not guaranteed. Funds in this sector must clearly state the timeframe over which they aim to meet their stated objective which must not be longer than three years. It should be noted that the performance of the OMW fund will not match that of the underlying investment due to OMW fund charges, appropriate taxation adjustment and the OMW investment process.
Benchmark
  • 3m GBP LIBOR
Investment style
Absolute Return,High Yield
Investment method
Feeder fund, Fixed Interest
Fund managers
NameSinceBiography
Andreas Doerrenhaus13/09/2015Andreas, who is based in London, is head of BlackRock’s European investment grade (IG) unconstrained credit strategies and a portfolio manager in BlackRock’s Global Unconstrained Fixed Income Team. Andreas currently manages the European IG unconstrained credit strategies in BGF FIGO and contributes towards the idea generation and investment process of the fund as well as the risk/capital allocation process. His addition as co-manager is a formalisation of Andreas’ historic and ongoing contribution to the fund’s investment process. Prior to joining BlackRock in 2010, Andreas worked as a credit portfolio manager at Deutsche Bank Group - Deutsche Asset Management. Before joining Deutsche Bank, he worked as a banker for Commerzbank AG and as a consultant for KPMG Consulting - BearingPoint. Andreas earned a Diplom-Kaufmann degree in finance and international management from the Katholische Universitaet Eichstaett (WFI).
Ian Winship29/09/2011Ian Winship graduated from the University od Strathclyde in 1985 with a BA (Hons) in Economics and Marketing. He joined the fixed income team in 1997, as a fund manager, responsible for a number of fixed income portfolios managed on behalf of UK clients. in addition he has responsibility for research in the European markets. Previously, he has managed bond portfolios for Murray Johnstone, Hill Samuel Asset Managers and more recently was responsible for fixed Income portfolios and research at Scottish Amicable Investment Managers.
Compliance
UCITS III Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
OMW BlackRock Absolute Return Bond Pn
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.79%
Bid price98.9
Offer price104.1
Mid price-
CurrencyGBX
Price updated23/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0SYH
OMW BlackRock Absolute Return Bond SP
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.79%
Bid price-
Offer price-
Mid price108.2
CurrencyGBX
Price updated23/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0SYI
Data provided by

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