Fact sheet: Pioneer SICV-Strat Inc

Fund information
Fund name
Pioneer SICAV - Strategic Income N Hedged Non Distributing GBP
Fund manager company
Pioneer Investments
Fund type
Offshore Fund
Fund managers
  • Kenneth J. Taubessince 12/08/2012
  • Andrew Feltussince 12/08/2012
  • Charles Melchreitsince 12/08/2012
Fund objective
Seeks to provide a high level of current income over the medium to long term. This Sub-Fund is a feeder UCITS which allocates 100% of its assets into Pioneer Funds -Strategic Income (the "Master Sub-Fund"). The Master Sub-Fund invests at least 80% of its assets in bonds, including mortgage-related and asset-backed securities. These investments may be from anywhere in the world, including emerging markets, and may be denominated in any currency. The Master Sub-Fund may invest up to 70% of its assets in below-investment grade bonds, up to 20% in bonds rated below CCC by Standard & Poor or equivalent and up to 30% in convertible securities and, on an ancillary basis, equities. 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
  • BarCap US Universal Index
Investment style
None
Investment method
Fixed Interest, Feeder fund
Quick stats
1 Year return
9.8%
1 Year rank in sector
-
Sector
FO Fixed Int - Global
Yield
-
Fund size
£2,762m
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.
20
Top in this sector
Fund name1 Year
Capital Group GHIOL42.7%
Dodge & Cox Global Bond31.2%
Franklin Gbl HiInc Bd24.6%
Natixis H2O Multibonds24.6%
CG Real Return22.3%
...more in FO Fixed Int - Global

Performance snapshot

Holdings snapshot

  • USA76.6%
    Others4.7%
    International3.2%
    Bermuda2.6%
    Money Market2.3%
  • Fixed Interest101.4%
    Money Market2.3%
    Equities0.9%
    Others-4.6%
  • US Fixed Interest76.6%
    Global Fixed Interest7.9%
    American Emerging Fixed Interest2.6%
    Money Market2.3%
    Brazilian Fixed Interest2.1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.2%1.4%0.1%9.8%9.4%22.5%
Sector0.3%1%-1.1%5.9%6.2%11.5%
Rank within sector------
Quartile
Calendar performance
 YTD - 20172016201520142013
Fund0.9%6.6%-1.4%4.4%2.3%
Sector0.6%4.6%-1.6%3.7%-1.6%
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.
1.09
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
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%.
3.26
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.
1.73
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.
0.61
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.
0.71
Price movement
52 week high59.15
52 week low53.8
Current bid price58.91
Current offer price58.91
Current mid price-
Region
1USA76.6%
2Others4.7%
3International3.2%
4Bermuda2.6%
5Money Market2.3%
6Brazil2.1%
7France2%
8Mexico2%
9UK1.4%
Industry sector
1Fixed Interest101.4%
2Money Market2.3%
3Equities0.9%
4Others-4.6%
Asset type
1US Fixed Interest76.6%
2Global Fixed Interest7.9%
3American Emerging Fixed Interest2.6%
4Money Market2.3%
5Brazilian Fixed Interest2.1%
6French Fixed Interest2%
7Mexican Fixed Interest2%
8UK Fixed Interest1.4%
9Canadian Fixed Interest1.2%
Individual holdings
1UNITED STATES OF AMER TREAS BONDS 1% BDS 15/02/46 USD1003.4%
2FEDERAL NATIONAL MORTGAGE ASSOC 5% SNR NTS 13/02/17 USD10002.7%
3UNITED STATES OF AMER TREAS BONDS 0% BDS 15/02/45 USD10001.9%
4GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I 3.5% 12/17/20151%
5UNITED STATES OF AMER TREAS BILLS 0% TB 02/02/17 USD1000.9%
6NEW ZEALAND(GOVERNMENT OF) 4.5% BDS 15/04/27 NZD10000000.7%
7EUROPEAN BANK FOR REC & DEV 7.375% NTS 15/04/19 IDR100000000.6%
8INTERNATIONAL BANK FOR REC & DEV 3.5% NTS 22/01/21 NZD100000.6%
9WELLS FARGO 7.5% 31/12/20490.6%
Management
Fund manager group
Pioneer Asset Management
Fund manager company
Pioneer Investments
Fund type
Offshore Fund
Fund objective
Seeks to provide a high level of current income over the medium to long term. This Sub-Fund is a feeder UCITS which allocates 100% of its assets into Pioneer Funds -Strategic Income (the "Master Sub-Fund"). The Master Sub-Fund invests at least 80% of its assets in bonds, including mortgage-related and asset-backed securities. These investments may be from anywhere in the world, including emerging markets, and may be denominated in any currency. The Master Sub-Fund may invest up to 70% of its assets in below-investment grade bonds, up to 20% in bonds rated below CCC by Standard & Poor or equivalent and up to 30% in convertible securities and, on an ancillary basis, equities. 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
  • BarCap US Universal Index
Investment style
None
Investment method
Fixed Interest, Feeder fund
Fund managers
NameSinceBiography
Kenneth J. Taubes12/08/2012Ken Taubes is Executive Vice President and Chief Investment Officer, U.S. at Pioneer Investments. He is a Portfolio Manager of Pioneer Strategic Income Fund, Pioneer Bond Fund, Pioneer Global Multisector Income Fund, and Pioneer Flexible Opportunities Fund. He is also a Portfolio Manager of the Opportunistic Core and Multi-Sector Fixed Income strategies for institutional clients. In addition, he oversees the equity and fixed income portfolio management and research analyst staff in the U.S. and is chairman of the U.S. Investment Committee, a member of the Global Investment Committee, and a member of the U.S. Management Committee. He is a member of the Board of Trustees of the Pioneer Funds, which oversees Pioneer’s U.S. registered portfolios. Prior to joining Pioneer, Ken spent seven years with Putnam Investments in Boston, most recently as Senior Vice President and Senior Portfolio Manager. Ken also served as Senior Vice President and Corporate Treasurer of Home Owners Savings Bank in Boston, New England’s largest thrift holding company and one of the nation’s largest mortgage banks, where he worked from 1986 to 1990. He began his career in 1980 with Bank of New England as a treasury officer in the bank’s international treasury division. Ken holds a B.S. in Accounting from Utica College and an M.B.A. from Suffolk University.
Andrew Feltus12/08/2012Andrew Feltus is Director of High Yield and Bank Loans and is a Portfolio Manager of Pioneer Global High Yield Fund, Pioneer High Yield Fund, Pioneer Strategic Income Fund, and Pioneer Global Multisector Income Fund at Pioneer Investments. He is also a Portfolio Manager of the institutional Multi-Sector Fixed Income strategy. He has extensive experience managing a wide range of debt securities globally, including emerging markets and foreign exchange, and has previously managed money market portfolios. Andrew is also a Portfolio Manager of two closed-end funds, Pioneer High Income Trust and Pioneer Diversified High Income Trust. Andrew joined Pioneer as a Fixed Income Analyst and was promoted to Portfolio Manager in 2001. Prior to joining Pioneer, he worked on the bond desk at Massachusetts Financial Services. Andrew has been actively managing U.S. fixed income portfolios since 1994, and managing derivatives, primarily bond futures, since 1992; currency forwards, since 1994; and credit default swaps, since 2008; which are used in a number of portfolios under his management. Andrew holds a B.A. in quantitative economics and philosophy from Tufts University. He is a CFA charterholder.
Charles Melchreit12/08/2012Charles Melchreit is a Portfolio Manager of Pioneer Multi-Asset Floating Rate Fund, Pioneer Government Income Fund, Pioneer Short Term Income Fund, Pioneer Global Aggregate Bond Fund, as well as a Portfolio Manager of institutional Core, Core Plus and Global Aggregate strategies. He specializes in structured securities as well as developing analytic methods and tools to enhance portfolio management processes. Before joining Pioneer Investments in 2006, Charles attended graduate school at Yale University, where he received a Master’s degree in Statistics. Concurrently, he worked at Cigna Investment Management where he managed an ABS and MBS portfolio. Previously he had worked for ING Aeltus, where he managed Aeltus’ Mortgage Group and Quantitative Research effort. His responsibilities included oversight of portfolio managers pursuing government and structured securities strategies, management of dedicated MBS/ABS portfolios, analysis and trading of fixed income derivatives, and leading a quantitative research team that focused on development of proprietary valuation and risk management tools. He has also worked in the Quantitative Management Group at MassMutual (now part of Babson Capital), where he was responsible for research in the area of mortgagebacked securities. Charles began his investment career in 1986 the Investment Department at Aetna Life and Casualty, where he was a quantitative investment analyst and later Head of Quantitative Research. In those roles, he was responsible for portfolio optimization and investment risk management; product development, including LDI and portfolio insurance strategies; development of proprietary investment systems; and research in rate forecasting and prepayment behavior. He holds a B.A. in Economics and an M.A. in Statistics, both from Yale University, as well as an M.S.C. in Management from Sloan School of Management, MIT.
Compliance
IA Recognised, Reporting Fund Status, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom, Luxembourg, Offshore
Pioneer SICAV - Strategic Income A Hedged Non Distributing EUR
Initial charge5%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.82%
Bid price54.58
Offer price54.58
Mid price-
CurrencyEUR
Price updated12/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF1WV
Pioneer SICAV - Strategic Income N Distributing Anually EUR
Initial charge-
Annual charge0.65%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)0.99%
Bid price60.3
Offer price60.3
Mid price-
CurrencyEUR
Price updated15/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFOAQ
Pioneer SICAV - Strategic Income N Distributing Anually GBP
Initial charge-
Annual charge0.65%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)0.99%
Bid price65.22
Offer price65.22
Mid price-
CurrencyGBP
Price updated15/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFOAP
Pioneer SICAV - Strategic Income N Distributing Anually USD
Initial charge-
Annual charge0.65%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)0.99%
Bid price50.49
Offer price50.49
Mid price-
CurrencyUSD
Price updated15/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFOAR
Pioneer SICAV - Strategic Income N Hedged Distributing Anually GBP
Initial charge-
Annual charge0.65%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price52.86
Offer price52.86
Mid price-
CurrencyGBP
Price updated15/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE0BD
Pioneer SICAV - Strategic Income N Hedged Non Distributing EUR
Initial charge-
Annual charge0.65%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price52.77
Offer price52.77
Mid price-
CurrencyEUR
Price updated15/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE09K
Pioneer SICAV - Strategic Income N Hedged Non Distributing GBP
Initial charge-
Annual charge0.65%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)0.85%
Bid price58.91
Offer price58.91
Mid price-
CurrencyGBP
Price updated15/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF1WW
Pioneer SICAV - Strategic Income N Non Distributing GBP
Initial charge-
Annual charge0.65%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)0.98%
Bid price74.04
Offer price74.04
Mid price-
CurrencyGBP
Price updated15/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF1WX
Pioneer SICAV - Strategic Income N Non Distributing USD
Initial charge-
Annual charge0.65%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price52.76
Offer price52.76
Mid price-
CurrencyUSD
Price updated12/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE0BE
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