Fact sheet: Pioneer SICV-Eur Hi Yd

Fund information
Fund name
Pioneer SICAV - Euro High Yield N Non Distributing GBP
Fund manager company
Pioneer Investments
Fund type
Offshore Fund
Fund managers
  • Colm D'Rosariosince 18/07/2013
  • Desmond Englishsince 18/07/2013
Fund objective
Seeks to increase the value of your investment and to provide income over the medium to long term. This Sub-Fund is a feeder UCITS which allocates 100% of its assets into Pioneer Funds - Euro High Yield (the "Master Sub-Fund"). The Master Sub-Fund invests mainly in below-investment grade bonds from anywhere in the world, including emerging markets. The Master Sub-Fund may also invest in money market securities, and may invest up to 20% of its assets in convertible securities and, on an ancillary basis, in equities. The Master Sub-Fund’s investments will mainly be denominated in euro. For temporary defensive purposes, the Master Sub-Fund may invest up to 49% of its assets in cash or in bonds from EU states whose national currency is the euro. The Master Sub-Fund may use derivatives to reduce various risks, for efficient portfolio management and as a way to gain exposure to various assets, markets or income streams.
Benchmark
  • BofA Merrill Lynch Euro High Yield
Investment style
High Yield
Investment method
Fixed Interest, Money Market, Feeder fund
Quick stats
1 Year return
18.2%
1 Year rank in sector
-
Sector
FO Fixed Int - EUR High Yield
Yield
-
Fund size
£1,405m
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.
70
Top in this sector
Fund name1 Year
Pioneer SICV-Eur Hi Yd18.2%
Aberdeen Gbl SelEurHiYdBd17.4%
Nordea 1 Europ HgYdBd II10.7%
Schroder ISF EURO Hi Yd9.7%
Deutsche Inv I EurHiYdCorp8.9%
...more in FO Fixed Int - EUR High Yield

Performance snapshot

Holdings snapshot

  • Italy14.7%
    Money Market14.6%
    France13.9%
    UK12.5%
    Germany7.4%
  • Fixed Interest82.7%
    Money Market14.6%
    Others2.7%
    Equities0%
  • Italian Fixed Interest14.7%
    Money Market14.6%
    French Fixed Interest13.9%
    UK Fixed Interest13.3%
    German Fixed Interest7.4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.8%1.7%-1.8%18.2%17.2%50.3%
Sector0.9%1.6%2.7%7.1%11.1%39.1%
Rank within sector------
Quartile
Calendar performance
 YTD - 20172016201520142013
Fund1.7%25.8%-2.4%-3.9%11%
Sector2.2%8%0.8%3.2%8.3%
Rank within sector-----
Quartile
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.
2.95
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.
0.78
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.
0.22
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%.
9.13
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.
8.57
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.
0.21
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.
0.13
Price movement
52 week high77.08
52 week low62.23
Current bid price75.04
Current offer price75.04
Current mid price-
Region
1Italy14.68%
2Money Market14.59%
3France13.87%
4UK12.48%
5Germany7.4%
6USA5.91%
7Netherlands4.71%
8Luxembourg4.08%
9Spain3.19%
Industry sector
1Fixed Interest82.71%
2Money Market14.59%
3Others2.69%
4Equities0.02%
Asset type
1Italian Fixed Interest14.68%
2Money Market14.59%
3French Fixed Interest13.87%
4UK Fixed Interest13.31%
5German Fixed Interest7.4%
6US Fixed Interest5.91%
7Dutch Fixed Interest4.71%
8Luxembourg Fixed Interest4.08%
9Spanish Fixed Interest3.19%
Individual holdings
1FRANCE(GOVT OF) 0.25% BDS 25/11/26 EUR11.77%
2FIAT CHRYSLER FINANCE EUROPE 6.75% BDS 14/10/19 EUR10001.7%
3INTESA SANPAOLO SPA 6.625% NTS 13/09/23 EUR10001.01%
4UNICREDIT SPA 6.950 OCT 31 22 REG0.91%
5FAURECIA 3.625% BDS 15/06/23 EUR100000.88%
6WIND ACQUISITION FINANCE SA 7% NTS 23/04/21 EUR10000.88%
7ENEL SPA 8.75% BDS 24/09/73 USD10000.82%
8ALTICE SA 7.25% BDS 15/05/22 EUR100000REG S0.77%
9CASINO GUICHARD-PERRACHON 3.248% MTN 07/03/24 EUR1000000.72%
Management
Fund manager group
Pioneer Asset Management
Fund manager company
Pioneer Investments
Fund type
Offshore Fund
Fund objective
Seeks to increase the value of your investment and to provide income over the medium to long term. This Sub-Fund is a feeder UCITS which allocates 100% of its assets into Pioneer Funds - Euro High Yield (the "Master Sub-Fund"). The Master Sub-Fund invests mainly in below-investment grade bonds from anywhere in the world, including emerging markets. The Master Sub-Fund may also invest in money market securities, and may invest up to 20% of its assets in convertible securities and, on an ancillary basis, in equities. The Master Sub-Fund’s investments will mainly be denominated in euro. For temporary defensive purposes, the Master Sub-Fund may invest up to 49% of its assets in cash or in bonds from EU states whose national currency is the euro. The Master Sub-Fund may use derivatives to reduce various risks, for efficient portfolio management and as a way to gain exposure to various assets, markets or income streams.
Benchmark
  • BofA Merrill Lynch Euro High Yield
Investment style
High Yield
Investment method
Fixed Interest, Money Market, Feeder fund
Fund managers
NameSinceBiography
Colm D'Rosario18/07/2013Colm D'Rosario is a Senior Portfolio Manager in the Emerging Market & High Yield Debt team at Pioneer Investments. Colm was recently appointed Lead Portfolio Manager for our Emerging Market High Yield and Euro High Yield investment strategies. Colm has been a member of the team since 2007 and was previously a Co-Portfolio Manager on our High Yield investment strategies. He has over 9 years of investment experience. Before joining Pioneer Investments, Colm worked as a Credit Analyst with WGZ Bank (2004-2007), where he was primarily responsible for the research and analysis of Asset-Backed Securities and Banks. Colm has an MA in Economics and Finance, an MSc in Mathematics and a BA in Double Mathematics/Economics. He was awarded the Financial Risk Manager (FRM®) designation by the Global Association of Risk Professionals (GARP) in April 2007.
Desmond English18/07/2013Desmond English is a Loan Portfolio Manager within the Emerging Markets & High Yield Debt team in London. Desmond is a Portfolio Manager on our Euro High Yield strategy. He has over 22 years’ industry experience, 12 of which spent in the everaged finance arena. He has experience across the full range of senior and subordinated debt financing products. Prior to joining Pioneer Investments, Desmond was a Director at Commerzbank with responsibility for Loan Transaction Management. Previously, he was Director of Clerkenwell Limited, London, which provided investment and advisory support to businesses. Within this role, he utilised his expertise in credit analysis and debt restructuring to advise clients of the firm. Previous roles included Director of European Leveraged Loan Distribution for Barclays Capital European Leverage Finance, London, where he was responsible for providing primary leveraged loan sales coverage, working closely with the syndication team on large European private equity backed LBOs and Corporate leveraged transactions. He also worked with the sales team and analysts to enhance their understanding of the credit fundamentals and deal structures of the existing assets held in the Barcap European leveraged loan portfolio. He started his career with HSBC where he held various roles including Director of Specialised Finance and Director of Leveraged Capital/Private Equity. Desmond holds a BA (Hons) degree in Modern History and Political Science and a Masters in Development Finance from the University of Birmingham." Desmond English is a Loan Portfolio Manager within the Emerging Markets & High Yield Debt team in London. Desmond is a Portfolio Manager on our Euro High Yield strategy. He has over 22 years’ industry experience, 12 of which spent in the leveraged finance arena. He has experience across the full range of senior and subordinated debt financing products. Prior to joining Pioneer Investments, Desmond was a Director at Commerzbank with responsibility for Loan Transaction Management. Previously, he was Director of Clerkenwell Limited, London, which provided investment and advisory support to businesses. Within this role, he utilised his expertise in credit analysis and debt restructuring to advise clients of the firm. Previous roles included Director of European Leveraged Loan Distribution for Barclays Capital European Leverage Finance, London, where he was responsible for providing primary leveraged loan sales coverage, working closely with the syndication team on large European private equity backed LBOs and Corporate leveraged transactions. He also worked with the sales team and analysts to enhance their understanding of the credit fundamentals and deal structures of the existing assets held in the Barcap European leveraged loan portfolio. He started his career with HSBC where he held various roles including Director of Specialised Finance and Director of Leveraged Capital/Private Equity. Desmond holds a BA (Hons) degree in Modern History and Political Science and a Masters in Development Finance from the University of Birmingham.
Compliance
IA Recognised, Reporting Fund Status, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom, Luxembourg, Offshore
Pioneer SICAV - Euro High Yield A Non Distributing EUR
Initial charge5%
Annual charge1.2%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.59%
Bid price66.7
Offer price66.7
Mid price-
CurrencyEUR
Price updated25/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF1WP
Pioneer SICAV - Euro High Yield N Distributing Annually EUR
Initial charge-
Annual charge0.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.84%
Bid price51
Offer price51
Mid price-
CurrencyEUR
Price updated25/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFO1S
Pioneer SICAV - Euro High Yield N Distributing Annually USD
Initial charge-
Annual charge0.6%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)0.84%
Bid price44.55
Offer price44.55
Mid price-
CurrencyUSD
Price updated25/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFO1T
Pioneer SICAV - Euro High Yield N Non Distributing EUR
Initial charge-
Annual charge0.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.85%
Bid price56.47
Offer price56.47
Mid price-
CurrencyEUR
Price updated25/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFO1R
Pioneer SICAV - Euro High Yield N Non Distributing GBP
Initial charge-
Annual charge0.6%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)0.81%
Bid price75.04
Offer price75.04
Mid price-
CurrencyGBP
Price updated25/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF1WQ
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