Fact sheet: OMW Fidelity Extra Income

Fund information
Fund name
OMW Fidelity Extra Income Pn
Fund manager company
Old Mutual Wlth Life As Co Ltd
Fund type
Pension Fund
Fund managers
  • Sajiv Vaidsince 02/08/2015
  • Ian Spreadburysince 30/06/2002
Underlying fund
Fidelity Extra Income
Fund objective
The OMW Fidelity Extra Income invests solely in the Fidelity Extra Income fund, a sub fund of Fidelity Investment Funds a UK authorised OEIC managed by Fidelity Investment Services Ltd. The underlying fund seeks to achieve a relatively high level of income. The underlying fund will obtain exposure primarily to UK corporate and government bonds and other fixed income and money market securities, preference shares and convertibles. The underlying fund may invest directly in securities or may achieve exposure indirectly through the use of derivatives. 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. 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
  • No Specified Index
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
5.7%
1 Year rank in sector
57/168
Sector
PN Sterling Strategic Bond
Yield
-
Fund size
£3m (£5m 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.
30
Bid price
237.7
Offer price
250.2
Top in this sector
Fund name1 Year
AXA Wealth AXA Fram Mgd Inc Pn9.4%
Canlife AXA Fram Mgd Inc Pn9.4%
OMW AXA Framlington Mgd Inc9.4%
FL Artemis Stra Bd AP8.3%
FL Artemis Strat Bd EP7.9%
...more in PN Sterling Strategic Bond

Performance snapshot

Holdings snapshot

  • UK59.9%
    USA12.2%
    Continental Europe6.5%
    Europe5.5%
    Germany5.2%
  • High Yield Bond38.2%
    Investment Grade Bonds27.6%
    Financials17.1%
    Asset/Mortgage-Backed Securities8.5%
    Government Bonds6%
  • UK Fixed Interest57.2%
    UK Corporate Fixed Interest38.2%
    UK Gilts6%
    Money Market0.6%
    Alternative Investment Strategies-1.9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.1%-3.6%2.7%5.7%15.8%38.5%
Sector-0.4%-1.5%2.8%5%12.9%38.8%
Rank within sector145 / 172156 / 17285 / 17257 / 16843 / 15584 / 143
Quartile4th4th2nd2nd2nd3rd
Calendar performance
 YTD - 20162015201420132012
Fund6.5%-0.2%8.9%2.9%15.6%
Sector5.7%0.7%5.6%5.9%15.8%
Rank within sector61 / 168110 / 16317 / 155129 / 15186 / 143
Quartile2nd3rd1st4th3rd
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.
-0.26
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.
1.29
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.
0.32
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%.
4.42
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.
1.78
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.
0.48
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.
0.88
Price movement
52 week high246.7
52 week low218.3
Current bid price237.7
Current offer price250.2
Current mid price-
Region
1UK59.87%
2USA12.24%
3Continental Europe6.51%
4Europe5.54%
5Germany5.15%
6France4.53%
7Latin America3%
8Switzerland1.28%
9Australasia1.2%
Industry sector
1High Yield Bond38.18%
2Investment Grade Bonds27.62%
3Financials17.09%
4Asset/Mortgage-Backed Securities8.52%
5Government Bonds6%
6Others3.77%
7Money Market0.56%
8Investment Grade Government Bonds0.17%
9Foreign Exchange-1.91%
Asset type
1UK Fixed Interest57.17%
2UK Corporate Fixed Interest38.18%
3UK Gilts6%
4Money Market0.56%
5Alternative Investment Strategies-1.91%
Individual holdings
1RWE FINANCE BV 6.125% MTN 06/07/39 GBP500001.14%
2IMPERIAL BRANDS FINANCE PLC 9% GTD NTS 17/02/22 GBP500001.02%
3EDF 6% BDS 22/01/14 USD20001%
4FIDELITY INSTITUTIONAL LIQUIDITY GBP A DIS0.98%
5PREMIERTEL CLS`B`6.175% BDS 8/5/32 GBP10000.91%
6UNITED STATES OF AMER TREAS NOTES 2.125% TB 15/05/25 USD10000.89%
7GREAT ROLLING STOCK CO LTD 6.25% NTS 27/07/20 GBP10000.88%
8TREASURY 2% GILT 07/09/25 GBP0.010.84%
9ENTERPRISE INNS 6.375% SEC BDS 26/9/2031 GBP10000.82%
Management
Fund manager group
Skandia
Fund manager company
Old Mutual Wlth Life As Co Ltd
Fund type
Pension Fund
Fund objective
The OMW Fidelity Extra Income invests solely in the Fidelity Extra Income fund, a sub fund of Fidelity Investment Funds a UK authorised OEIC managed by Fidelity Investment Services Ltd. The underlying fund seeks to achieve a relatively high level of income. The underlying fund will obtain exposure primarily to UK corporate and government bonds and other fixed income and money market securities, preference shares and convertibles. The underlying fund may invest directly in securities or may achieve exposure indirectly through the use of derivatives. 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. 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
  • No Specified Index
Investment style
No data available.
Investment method
No data available.
Fund managers
NameSinceBiography
Sajiv Vaid02/08/2015Sajiv Vaid joined Fidelity in 2015 and is co-Manager on the Moneybuilder and Extra Income Funds. After graduation Sajiv joined Gerrard Group (1994-1997) as a trainee bond fund manager, joining Fuji Investments as a fully-fledged bond fund manager in 1997, where he managed global fixed income portfolios. In 2001, he joined Royal London Asset Management where he managed their flagship retail and institutional corporate funds. Sajiv graduated from the University of Hull in 1991 in Economic & Social History and holds an MA in Modern Internatio.al Studies from University of Leeds.
Ian Spreadbury30/06/2002Ian Spreadbury is a Senior Portfolio Manager at Fidelity International with 30 years investment experience. Since joining Fidelity in 1995, he has been responsible for managing several of Fidelity's bond strategies. Previously, he worked for Legal and General in various positions including Senior Portfolio Manager (Bonds). Ian has a BSc in Pure & Applied Mathematics from University College of North Wales and an MSc in Mathematical Statistics from University of Sussex. He is also a Fellow of the Institute of Actuaries and is one of the most experienced fixed income managers in the industry.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
OMW Fidelity Extra Income Pn
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.16%
Bid price237.7
Offer price250.2
Mid price-
CurrencyGBX
Price updated08/12/2016
Type-
Institutional or retail classRetail
Domicile-
Citi codeUY15
OMW Fidelity Extra Income SP
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.16%
Bid price-
Offer price-
Mid price283.8
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeZX21
Data provided by

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