Fact sheet: OMW M&G Glb Fltng Rt HgYd

Fund information
Fund name
OMW M&G Global Floating Rate High Yield Pn
Fund manager company
Old Mutual Wlth Life As Co Ltd
Fund type
Pension Fund
Fund managers
  • James Tomlinssince 10/09/2014
  • Stefan Isaacssince 10/09/2014
Underlying fund
M&G GblFlRtHiY
Fund objective
The OMW M&G Global Floating Rate High Yield fund invests solely in the M&G Global Floating Rate High Yield fund, a sub fund of M&G Investment Funds (7) a UK authorised Open Ended Investment Company managed by M&G Securities Limited. The underlying fund aims to maximise total return (the combination of income and growth of capital) by investing on a global basis mainly in high yield corporate or government floating rate notes and asset backed securities denominated in any currency. Floating rate note exposure may be achieved either directly or synthetically, through various combinations of government securities, corporate bonds, cash, credit default swaps, interest rate swaps, asset swaps or other credit derivatives. 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
  • BofA Merrill Lynch Global Floating Rate High Yield Index
Investment style
None
Investment method
Floating Rate Notes
Quick stats
1 Year return
5%
1 Year rank in sector
51/56
Sector
PN Sterling High Yield
Yield
-
Fund size
£3m (£0m last year)
Bid price
99
Offer price
104.2
Top in this sector
Fund name1 Year
L&G High Income Pn10.9%
Aviva Invtec M High Inc Pn10.2%
SIP JPM Gbl Hi Yd Bd Pn10%
LV= Investec Monthly Hi Inc Pn9.9%
Aviva JPM Gbl HighYldBd Pn9.7%
...more in PN Sterling High Yield

Performance snapshot

Holdings snapshot

  • UK22.1%
    USA20.1%
    Money Market16.2%
    Luxembourg10.7%
    Italy6.3%
  • Industrials20.8%
    Consumer Goods16.9%
    Money Market16.2%
    Banks15.8%
    Telecommunications8%
  • Money Market100%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.7%1.5%3.3%5%--
Sector-0.5%-0.7%4.5%7.3%14.6%48.1%
Rank within sector2 / 574 / 5747 / 5751 / 56--
Quartile1st1st4th4th
Calendar performance
 YTD - 20162015201420132012
Fund5.7%----
Sector9.3%-0.1%4.4%6.8%19.3%
Rank within sector55 / 56----
Quartile4th
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.
-
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.
-
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.
-
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%.
-
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.
-
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.
-
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.
-
Price movement
52 week high99
52 week low91.1
Current bid price99
Current offer price104.2
Current mid price-
Region
1UK22.11%
2USA20.11%
3Money Market16.22%
4Luxembourg10.74%
5Italy6.34%
6Ireland5.93%
7France3.91%
8New Zealand3.13%
9Mexico2.94%
Industry sector
1Industrials20.75%
2Consumer Goods16.93%
3Money Market16.22%
4Banks15.85%
5Telecommunications7.98%
6Government Bonds7.96%
7Services7.83%
8Energy3.02%
9Media2.46%
Asset type
1Money Market100%
Individual holdings
No data available.
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 Floating Rate High Yield fund invests solely in the M&G Global Floating Rate High Yield fund, a sub fund of M&G Investment Funds (7) a UK authorised Open Ended Investment Company managed by M&G Securities Limited. The underlying fund aims to maximise total return (the combination of income and growth of capital) by investing on a global basis mainly in high yield corporate or government floating rate notes and asset backed securities denominated in any currency. Floating rate note exposure may be achieved either directly or synthetically, through various combinations of government securities, corporate bonds, cash, credit default swaps, interest rate swaps, asset swaps or other credit derivatives. 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
  • BofA Merrill Lynch Global Floating Rate High Yield Index
Investment style
None
Investment method
Floating Rate Notes
Fund managers
NameSinceBiography
James Tomlins10/09/2014James Tomlins joined M&G in June 2011 and was appointed fund manager of the M&G European High Yield Bond Fund later that year. In January 2014, he became co-manager of the M&G Global High Yield Bond Fund after two years as deputy manager on the fund. James has also managed the M&G Global Floating Rate High Yield Fund since its launch in September 2014. James is a specialist in high yield credit with more than 10 years’ experience in this sector. He was previously an analyst and then a fund manager at Cazenove Capital Management. Before Cazenove, James was at KBC Alternative Investment Management; in the three years prior to that, he worked at Merrill Lynch Investment Managers. James is a CFA charterholder. He graduated with an MA in history and PgDip in economics from the University of Cambridge.
Stefan Isaacs10/09/2014Stefan Isaacs is Deputy Head of Retail Fixed Interest for M&G's mutual fund range. He joined M&G as a graduate in 2001 and was subsequently promoted to corporate bond dealer specialising in high yield bonds and euro-denominated credit. Stefan joined the fund management team in 2006 and was appointed fund manager of the M&G European Corporate Bond Fund in April 2007 and the M&G Global High Yield Bond Fund in October 2010. Stefan is also deputy fund manager of the M&G Optimal Income Fund, the M&G European High Yield Fund and the M&G Global Floating Rate High Yield Fund.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
OMW M&G Global Floating Rate High Yield 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 price99
Offer price104.2
Mid price-
CurrencyGBX
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPWM
OMW M&G Global Floating Rate High Yield 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 price105.2
CurrencyGBX
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPWN
Data provided by

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