Fact sheet: OMW F&C Maximum Income Bond

Fund information
Fund name
OMW F&C Maximum Income Bond Pn
Fund manager company
Old Mutual Wlth Life As Co Ltd
Fund type
Pension Fund
Fund managers
  • Chris Brilssince 07/11/2012
Underlying fund
F&C Maximum Income Bond
Fund objective
The OMW F&C Maximum Income Bond Fund invests solely in the F&C Maximum Income Bond Fund, a sub fund of the F&C Investment Funds ICVC, a UK authorised Investment Company with Variable Capital, managed by F&C Fund Management Limited. The aim of the underlying Fund is to maximise returns through investment primarily in high-yielding global fixed interest securities. The underlying Fund will invest predominantly in US dollar, sterling and Euro denominated high-yielding fixed interest securities, including non-investment grade bonds. To manage risk the underlying Fund will aim to achieve a wide degree of diversification and the managers will adopt a rigorous credit management process. 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. Some of the investments in the underlying fund can be difficult to sell at times, which could affect the price of units. 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 adjustments and the OMW investment process.
Benchmark
  • IA Sterling High Yield median
Investment style
High Yield
Investment method
No data available.
Quick stats
1 Year return
5.2%
1 Year rank in sector
50/56
Sector
PN Sterling High Yield
Yield
-
Fund size
£2m (£3m 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.
33
Bid price
247.1
Offer price
260.1
Top in this sector
Fund name1 Year
L&G High Income Pn11.1%
Aviva Invtec M High Inc Pn10.6%
Aviva JPM Gbl HighYldBd Pn10.5%
SIP JPM Gbl Hi Yd Bd Pn10.1%
LV= Investec Monthly Hi Inc Pn9.9%
...more in PN Sterling High Yield

Performance snapshot

Holdings snapshot

  • UK101.2%
    Money Market-1.2%
  • Others36.2%
    Cyclical Consumer Goods12.7%
    Basic Industries9.7%
    Banks9%
    Cyclical Services7.5%
  • UK Fixed Interest101.2%
    Money Market-1.2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.8%-1.4%3.1%5.2%10.8%44.5%
Sector-0.7%-0.7%4.6%7.4%14.6%48.8%
Rank within sector40 / 5755 / 5751 / 5750 / 5635 / 4930 / 46
Quartile3rd4th4th4th3rd3rd
Calendar performance
 YTD - 20162015201420132012
Fund6.5%0.3%3.1%7.2%19.6%
Sector9.2%-0.1%4.4%6.8%19.3%
Rank within sector49 / 5620 / 5428 / 4933 / 4923 / 46
Quartile4th2nd3rd3rd2nd
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.
-1.42
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.
1.08
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%.
4.76
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.
1.32
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.
-0.79
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 high252
52 week low222.3
Current bid price247.1
Current offer price260.1
Current mid price-
Region
1UK101.2%
2Money Market-1.2%
Industry sector
1Others36.2%
2Cyclical Consumer Goods12.7%
3Basic Industries9.7%
4Banks9%
5Cyclical Services7.5%
6Capital Goods5.7%
7Non-Cyclical Consumer Goods5.6%
8Utilities5.5%
9Telecommunications5.1%
Asset type
1UK Fixed Interest101.2%
2Money Market-1.2%
Individual holdings
1AALLN 3.25% 03 APR 20232%
2UNITYMEDIA HESSEN / NRW 6.25% BDS 15/01/29 EUR10001.5%
3CHANNEL LINK 30 JUN 20501.4%
4VIRGIN MEDIA SECURED FINANCE PLC 6.25% NTS 28/03/29 GBP1000144A1.3%
5PARAGON GROUP OF COMPANIES 7% CALL SUB NTS 20/4/17 GBP(VAR)1.2%
6ADRIA BIDCO 7.875% 15 NOV 20201.1%
7BALL CORP 4.375% BDS 15/12/23 EUR10001.1%
8CROWN EURO HLDGS SA 3.375% BDS 15/05/25 EUR1000001.1%
9SOFTBANK GROUP CORP 5.25% BDS 30/07/27 EUR1000001.1%
Management
Fund manager group
Skandia
Fund manager company
Old Mutual Wlth Life As Co Ltd
Fund type
Pension Fund
Fund objective
The OMW F&C Maximum Income Bond Fund invests solely in the F&C Maximum Income Bond Fund, a sub fund of the F&C Investment Funds ICVC, a UK authorised Investment Company with Variable Capital, managed by F&C Fund Management Limited. The aim of the underlying Fund is to maximise returns through investment primarily in high-yielding global fixed interest securities. The underlying Fund will invest predominantly in US dollar, sterling and Euro denominated high-yielding fixed interest securities, including non-investment grade bonds. To manage risk the underlying Fund will aim to achieve a wide degree of diversification and the managers will adopt a rigorous credit management process. 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. Some of the investments in the underlying fund can be difficult to sell at times, which could affect the price of units. 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 adjustments and the OMW investment process.
Benchmark
  • IA Sterling High Yield median
Investment style
High Yield
Investment method
No data available.
Fund managers
NameSinceBiography
Chris Brils07/11/2012Chris Brils joined the firm in January 2011 and is Head of High Yield. Prior to this, he was Head of High Yield at Pall Mall Investment Management, managing its flagship High Yield Europe Plus Fund that achieved a ‘AA’ rating from S&P and 5 stars from Morningstar among other funds. Prior to this he worked as the European Head of High Yield at ABN AMRO Asset Management. Chris is a CFA charterholder and has a Master’s degree in General Management from The Netherlands Business School, Nyenrode University and a Master’s degree in Forestry Science from Wageningen Agricultural University.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
OMW F&C Maximum Income Bond Pn
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.03%
Bid price247.1
Offer price260.1
Mid price-
CurrencyGBX
Price updated01/12/2016
Type-
Institutional or retail classRetail
Domicile-
Citi codeOY51
OMW F&C Maximum Income Bond SP
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.03%
Bid price-
Offer price-
Mid price292.8
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeZK99
Data provided by

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