Fact sheet: OMW Kames High Yield Bond

Fund information
Fund name
OMW Kames High Yield Bond Pn
Fund manager company
Old Mutual Wlth Life As Co Ltd
Fund type
Pension Fund
Fund managers
  • David Ennettsince 08/09/2016
  • Philip Milburnsince 01/11/2003
Underlying fund
Kames High Yield Bond
Fund objective
The OMW Kames High Yield Bond Fund invests solely in the Kames High Yield Bond Fund, a sub-fund of Kames Capital ICVC, a UK authorised Open Ended Investment Company, managed by Kames Capital PLC. The underlying fund seeks to maximise total return (income plus capital) by investing in a portfolio of predominately high yield bonds and selected investment grade bonds. The underlying fund may hold sterling and other currency denominated bonds hedged back to sterling. Investments in emerging markets tend to be volatile and are usually considered to carry a greater degree of risk than investments in established markets. This relates to dealing, settlement and custody practices, the possibility of political or economic instability, and developing legal, fiscal and regulatory structures. The underlying fund invests into a relatively small number of assets, or into individual countries or a specific market sector. Such concentrated portfolios give rise to more risk than where investments are spread across a larger number of assets, countries or market sectors. 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. 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
  • IA £ High Yield Sector Median
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
5.5%
1 Year rank in sector
51/56
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.
38
Bid price
133.3
Offer price
140.3
Top in this sector
Fund name1 Year
L&G High Income Pn13.3%
OMW IPLPimUsHiYiBdPn12%
Aviva Invtec M High Inc Pn11.3%
Aviva JPM Gbl HighYldBd Pn11%
SIP JPM Gbl Hi Yd Bd Pn10.7%
...more in PN Sterling High Yield

Performance snapshot

Holdings snapshot

  • USA55.7%
    Money Market11.2%
    UK8.9%
    Netherlands5.6%
    France4.7%
  • Industrials72.5%
    Financials16.8%
    Money Market4.3%
    Asset/Mortgage-Backed Securities3.3%
    Utilities3.1%
  • US Fixed Interest55.7%
    UK Fixed Interest12.3%
    Money Market11.2%
    Dutch Fixed Interest5.6%
    French Fixed Interest4.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.2%-0.7%3%5.5%10%37.8%
Sector0.1%-0.5%4.5%8.3%15.2%46.5%
Rank within sector28 / 5753 / 5756 / 5751 / 5641 / 4939 / 46
Quartile2nd4th4th4th4th4th
Calendar performance
 YTD - 20162015201420132012
Fund6.9%-1.7%4.2%5.6%18.5%
Sector9.9%-0.1%4.4%6.8%19.3%
Rank within sector52 / 5639 / 5417 / 4945 / 4930 / 46
Quartile4th3rd2nd4th3rd
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.
-1.77
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
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%.
4.94
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.
1.64
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.
-0.86
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.
0.89
Price movement
52 week high134.9
52 week low118.8
Current bid price133.3
Current offer price140.3
Current mid price-
Region
1USA55.68%
2Money Market11.25%
3UK8.87%
4Netherlands5.61%
5France4.74%
6Jersey3.45%
7Switzerland3.29%
8Luxembourg2.92%
9Germany2.75%
Industry sector
1Industrials72.5%
2Financials16.8%
3Money Market4.3%
4Asset/Mortgage-Backed Securities3.3%
5Utilities3.1%
Asset type
1US Fixed Interest55.68%
2UK Fixed Interest12.32%
3Money Market11.25%
4Dutch Fixed Interest5.61%
5French Fixed Interest4.74%
6Swiss Fixed Interest3.29%
7Luxembourg Fixed Interest2.92%
8German Fixed Interest2.75%
9Irish Fixed Interest2.55%
Individual holdings
1NUMERICABLE SFR BDS 01/05/26 USD200000 144A2.02%
2FRONTIER COMMUNICATIONS CORP 10.5% NTS 15/09/22 USD10001.95%
3CPUK FINANCE LTD 7% BDS 28/08/20 GBP1000001.93%
4ACCESS MIDSTREAM PARTNERS LP 5.875% BDS 15/03/24 USD20001.7%
5CCO HLDGS LLC/CAP CORP 5.125% BDS 01/05/23 USD10001.7%
6CNH INDUSTRIAL NV 4.5% BDS 15/08/23 USD20001.68%
7CITIGROUP INC DEP SHS REPSTG 1/25TH PFD D FLTG RT1.64%
8CABLEVISION SYSTEMS CORP 5.875% BDS 15/09/22 USD10001.63%
9SERVICE CORP INTL 4.5% BDS 15/11/20 USD10001.6%
Management
Fund manager group
Skandia
Fund manager company
Old Mutual Wlth Life As Co Ltd
Fund type
Pension Fund
Fund objective
The OMW Kames High Yield Bond Fund invests solely in the Kames High Yield Bond Fund, a sub-fund of Kames Capital ICVC, a UK authorised Open Ended Investment Company, managed by Kames Capital PLC. The underlying fund seeks to maximise total return (income plus capital) by investing in a portfolio of predominately high yield bonds and selected investment grade bonds. The underlying fund may hold sterling and other currency denominated bonds hedged back to sterling. Investments in emerging markets tend to be volatile and are usually considered to carry a greater degree of risk than investments in established markets. This relates to dealing, settlement and custody practices, the possibility of political or economic instability, and developing legal, fiscal and regulatory structures. The underlying fund invests into a relatively small number of assets, or into individual countries or a specific market sector. Such concentrated portfolios give rise to more risk than where investments are spread across a larger number of assets, countries or market sectors. 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. 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
  • IA £ High Yield Sector Median
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
David Ennett08/09/2016David is Head of High Yield in the Fixed income team. He joined us in 2016 from Standard Life Investments, where he was head of European high yield and manager of the SLI Higher Income Bond Fund and SLI European High Yield Bond Fund. Before that, David worked for Old Mutual Asset Managers, CIBC World Markets and M&G in a variety of analysis and portfolio management roles. He has a degree in Political Science and Economics from the Australian National University in Canberra, and completed an MBA at Imperial College, London. David is a CFA Charterholder
Philip Milburn01/11/2003Philip is an investment manager in the fixed income team. He joined us in 1997 straight from university. Philip studied Economics at the University of Edinburgh.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
OMW Kames High Yield Bond Pn
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.9%
Bid price133.3
Offer price140.3
Mid price-
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeLFQ2
OMW Kames High Yield Bond SP
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.9%
Bid price-
Offer price-
Mid price146.9
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeLFQ3
Data provided by

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Moneywise and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Financial Express. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.