Fact sheet: OMW M&G Gbl Convertibles

Fund information
Fund name
OMW M&G Global Convertibles Pn
Fund manager company
Old Mutual Wlth Life As Co Ltd
Fund type
Pension Fund
Fund managers
  • David Romanisince 30/09/2013
  • Leonard Vinvillesince 12/07/2007
  • Yannis Karachaliossince 30/09/2013
Underlying fund
M&G Gbl Convertibles
Fund objective
The OMW M&G Global Convertibles fund invests solely in the M&G Global Convertibles fund, a sub fund of M&G Investment Funds (7), a UK authorised OEIC managed by M&G Securities Limited. The underlying fund aims to maximise long term total return (the combination of income and growth of capital) to investors by investing mainly in global convertible assets. 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
  • Thomson Reuters Global Focus Convertible Index
Investment style
None
Investment method
No data available.
Quick stats
1 Year return
18.5%
1 Year rank in sector
63/513
Sector
PN Specialist
Yield
-
Fund size
£1m (£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.
74
Bid price
177.6
Offer price
186.9
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Performance snapshot

Holdings snapshot

  • USA37.5%
    Netherlands11.4%
    Germany7.7%
    Japan5.1%
    Money Market4.7%
  • Fixed Interest86.7%
    Money Market4.7%
    Health Care2.5%
    Oil & Gas1.4%
    Real Estate0.9%
  • US Corporate Fixed Interest36.1%
    Dutch Corporate Fixed Interest10.7%
    German Corporate Fixed Interest7.1%
    Japanese Corporate Fixed Interest4.7%
    Money Market4.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-2.1%1.5%13.3%18.5%29.6%53.1%
Sector-0.9%-0.9%6%8.2%20.2%40.8%
Rank within sector466 / 54668 / 54463 / 53163 / 51384 / 386105 / 317
Quartile4th1st1st1st1st2nd
Calendar performance
 YTD - 20162015201420132012
Fund17.9%3.2%5.3%12.4%6.5%
Sector8.2%2%7.2%11%7.7%
Rank within sector60 / 514109 / 450221 / 388127 / 357212 / 318
Quartile1st1st3rd2nd3rd
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.
2.23
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.
1.13
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.
0.66
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%.
8.84
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.
5.71
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.
0.5
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.
0.58
Price movement
52 week high188.2
52 week low145.5
Current bid price177.6
Current offer price186.9
Current mid price-
Region
1USA37.53%
2Netherlands11.35%
3Germany7.67%
4Japan5.15%
5Money Market4.72%
6Singapore3.53%
7France3.45%
8Mexico3.19%
9Luxembourg3.18%
Industry sector
1Fixed Interest86.7%
2Money Market4.72%
3Health Care2.45%
4Oil & Gas1.35%
5Real Estate0.92%
6Industrials0.78%
7Retail0.62%
8Technology0.52%
9Utilities0.45%
Asset type
1US Corporate Fixed Interest36.1%
2Dutch Corporate Fixed Interest10.68%
3German Corporate Fixed Interest7.05%
4Japanese Corporate Fixed Interest4.74%
5Money Market4.72%
6Singapore Corporate Fixed Interest3.54%
7Mexican Corporate Fixed Interest3.19%
8Luxembourg Corporate Fixed Interest3.18%
9UK Corporate Fixed Interest3.16%
Individual holdings
1CITRIX SYSTEMS INC 0.5% CNV BDS 15/04/19 USD10004.55%
2YAHOO INC 0% CNV BDS 01/12/18 USD10003.76%
3PRICELINE GROUP INC (THE) 0.9% NTS 15/09/21 USD10002.86%
4SIEMENS FINANCIERINGSMAAT NV 1.65% NTS 16/08/19 USD2500002.51%
5NXP SEMICONDUCTORS NV 1% SR NTS 01/12/19 USD10002.3%
6PRICELINE GROUP INC (THE) 0.35% SNR CNV NTS 15/06/20 USD10002.16%
7CAPITALAND 1.95% CNV BDS 17/10/23 SGD2500002.06%
8FRESENIUS MEDICAL CARE AG & CO.KGAA 1.125% CNV BDS 31/01/20 EUR1000001.88%
9SUZUKI MOTOR CORP 0% CNV BDS 31/03/23 JPY100000001.85%
Management
Fund manager group
Skandia
Fund manager company
Old Mutual Wlth Life As Co Ltd
Fund type
Pension Fund
Fund objective
The OMW M&G Global Convertibles fund invests solely in the M&G Global Convertibles fund, a sub fund of M&G Investment Funds (7), a UK authorised OEIC managed by M&G Securities Limited. The underlying fund aims to maximise long term total return (the combination of income and growth of capital) to investors by investing mainly in global convertible assets. 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
  • Thomson Reuters Global Focus Convertible Index
Investment style
None
Investment method
No data available.
Fund managers
NameSinceBiography
David Romani30/09/2013David Romani was appointed deputy manager of the M&G Global Convertibles Fund in October 2013. David joined M&G in 2005, performing a variety of roles in strategic planning, marketing and client communications before becoming a dedicated convertibles analyst in the Global Convertibles team. Prior to joining M&G, he worked for Prudential and as a consultant to the asset management and life insurance industries. David holds an MBA degree from the University of Chicago and is a CFA charterholder.
Leonard Vinville12/07/2007Léonard Vinville joined M&G in 2002, and since then has been managing the convertibles allocation of the Prudential With Profit Life Fund. He has also been responsible for managing the M&G Global Convertibles Fund since its launch in July 2007. Both funds are run with the same investment approach and with an emphasis on generating strong risk-adjusted returns. Prior to joining M&G, Léonard was head of European convertibles at AGF Asset Management in Paris, where he managed convertibles and French equity mandates. He has an MBA and is qualified as a chartered accountant.
Yannis Karachalios30/09/2013Yannis Karachalios was appointed deputy manager of the M&G Global Convertibles Fund in October 2013, having joined M&G in 2011 as a credit analyst dedicated to the convertible bonds team. He is responsible for the credit analysis of convertible bonds and he has eight years of experience in high yield, leveraged loans and distressed debt. Yannis previously worked at Alpstar Capital in Geneva. Prior to this, he was a high yield credit analyst at Hermes Fund Managers London. Yannis has an MSc in financial economics from Brunel University.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
OMW M&G Global Convertibles Pn
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.29%
Bid price177.6
Offer price186.9
Mid price-
CurrencyGBX
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFEJ3
OMW M&G Global Convertibles SP
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.29%
Bid price-
Offer price-
Mid price197.8
CurrencyGBX
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFEJ4
Data provided by

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