Fact sheet: OMW M&G Global High Yield Bond

Fund information
Fund name
OMW M&G Global High Yield Bond Pn
Fund manager company
Old Mutual Wlth Life As Co Ltd
Fund type
Pension Fund
Fund managers
  • Stefan Isaacssince 29/09/2010
  • James Tomlinssince 01/01/2014
Underlying fund
M&G Gbl Hi Yield Bd
Fund objective
The OMW M&G Global High Yield Bond fund invests solely in the M&G Global High Yield Bond fund, a sub fund of M&G Investment Funds a UK authorised Open Ended Investment Company managed by M&G Securities Limited.The underlying fund seeks to maximise total return (the combination of income and growth of capital) while generating a high level of income by investing predominantly in higher yielding corporate debt instruments which may be denominated in sterling, European currencies and other major global currencies.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
  • No Specified Index
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
7.7%
1 Year rank in sector
28/56
Sector
PN Sterling High Yield
Yield
-
Fund size
£1m (£2m 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.
43
Bid price
230.6
Offer price
242.7
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

  • USA41.9%
    UK20.2%
    Money Market5.1%
    Germany4%
    Luxembourg3.9%
  • Banks13.9%
    Media11.7%
    Government Bonds9.7%
    Health Care8.6%
    Energy8.3%
  • US Corporate Fixed Interest41.3%
    UK Corporate Fixed Interest10.8%
    UK Gilts9.7%
    Money Market5.1%
    German Corporate Fixed Interest4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.3%-0.7%3.6%7.7%9.6%40.2%
Sector0.1%-0.5%4.5%8.3%15.2%46.5%
Rank within sector49 / 5751 / 5739 / 5728 / 5643 / 4935 / 46
Quartile4th4th3rd2nd4th4th
Calendar performance
 YTD - 20162015201420132012
Fund9.9%-2.1%1.3%8%19.2%
Sector9.9%-0.1%4.4%6.8%19.3%
Rank within sector25 / 5645 / 5446 / 4922 / 4927 / 46
Quartile2nd4th4th2nd3rd
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.
-2.63
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.
1.28
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%.
5.88
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.
2.36
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.
-0.6
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 high232.7
52 week low199.9
Current bid price230.6
Current offer price242.7
Current mid price-
Region
1USA41.93%
2UK20.21%
3Money Market5.07%
4Germany4.05%
5Luxembourg3.92%
6Spain3.78%
7France3.15%
8Italy2.87%
9Canada2.44%
Industry sector
1Banks13.9%
2Media11.73%
3Government Bonds9.65%
4Health Care8.57%
5Energy8.3%
6Telecommunications8.03%
7Capital Goods6.63%
8Basic Industries6.27%
9Services5.67%
Asset type
1US Corporate Fixed Interest41.31%
2UK Corporate Fixed Interest10.84%
3UK Gilts9.65%
4Money Market5.07%
5German Corporate Fixed Interest4.05%
6Luxembourg Corporate Fixed Interest3.92%
7Spanish Corporate Fixed Interest3.32%
8French Corporate Fixed Interest3.15%
9Italian Corporate Fixed Interest2.87%
Individual holdings
1TREASURY 1.25% GILT 22/7/18 GBP0.014.45%
2TREASURY 0% TSY BILL 05/12/16 GBP13.42%
3TREASURY 1.75% GILT 22/07/19 GBP0.011.78%
4WILLIAM HILL PLC 4.875% BDS 07/09/23 GBP1000001.18%
5MATTERHORN TELECOM SA 3.875% BDS 01/05/22 EUR1000001.1%
6NUMERICABLE SFR 5.625% BDS 15/05/24 EUR100000 REG S0.98%
7VTR FINANCE BV 6.875% BDS 15/01/24 USD2000000.97%
8BELDEN INC. 5.5% MTN 15/04/23 EUR100000 REG S0.94%
9JPMORGAN CHASE & CO DEP SHS REPR 1/10 7.9%NON CUM PFD I0.94%
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 High Yield Bond fund invests solely in the M&G Global High Yield Bond fund, a sub fund of M&G Investment Funds a UK authorised Open Ended Investment Company managed by M&G Securities Limited.The underlying fund seeks to maximise total return (the combination of income and growth of capital) while generating a high level of income by investing predominantly in higher yielding corporate debt instruments which may be denominated in sterling, European currencies and other major global currencies.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
  • No Specified Index
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Stefan Isaacs29/09/2010Stefan 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.
James Tomlins01/01/2014James 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.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
OMW M&G Global 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)1.1%
Bid price230.6
Offer price242.7
Mid price-
CurrencyGBX
Price updated08/12/2016
Type-
Institutional or retail classRetail
Domicile-
Citi codeSP57
OMW M&G Global 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)1.1%
Bid price-
Offer price-
Mid price275.9
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeZS52
Data provided by

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