Fact sheet: Principal GIF GblCrAlp

Fund information
Fund name
Principal GIF Global Credit Alpha I Acc USD
Fund manager company
Principal Global Investors (Ir
Fund type
Unit Trust
Fund managers
  • Mark Denkingersince 22/06/2015
  • William C. Armstrongsince 22/06/2015
  • Darrin Smithsince 22/06/2015
  • Joshua Ranksince 22/06/2015
  • Darryl Trunnelsince 22/06/2015
Fund objective
The Fund seeks to achieve its objective by investing the majority of its assets in high yield corporate bonds, securitized debt (as further described below), emerging markets bonds as well as government bonds and investment grade corporate bonds from markets around the world.
Benchmark
  • Barclays 3 month USD LIBOR
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
5.6%
1 Year rank in sector
53/295
Sector
FO Fixed Int - Global
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.79%
Fund size
£8m (£8m last year)
Top in this sector
Fund name1 Year
Capital Group GHIOL33.6%
Dodge & Cox Global Bond25.9%
HSBC GIF Gbl AsBk Bd24.3%
Morg Stnly Gbl Mrtg Securts23.8%
Russell Gbl Bd22.8%
...more in FO Fixed Int - Global

Performance snapshot

Holdings snapshot

  • USA74.3%
    Money Market6.7%
    Mexico5.4%
    Australia3%
    Greece2%
  • B+12.4%
    B-11.8%
    BBB+11.6%
    BBB9.9%
    BBB-7.6%
  • US Fixed Interest71.3%
    Money Market6.6%
    Mexican Fixed Interest5.4%
    Australian Fixed Interest3%
    US Corporate Fixed Interest2.4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.8%-0.4%3.4%5.6%--
Sector-1.8%-2.2%0.6%3.2%5.9%13.5%
Rank within sector97 / 31566 / 31251 / 30753 / 295--
Quartile2nd1st1st1st
Calendar performance
 YTD - 20162015201420132012
Fund7.2%----
Sector3.9%-1.6%3.7%-1.6%8.2%
Rank within sector49 / 299----
Quartile1st
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 high11.35
52 week low10.04
Current bid price-
Current offer price-
Current mid price11.18
Region
1USA74.31%
2Money Market6.69%
3Mexico5.45%
4Australia3.02%
5Greece2.02%
6Luxembourg1.92%
7Belgium1.85%
8Canada1.85%
9Puerto Rico1.28%
Industry sector
1B+12.45%
2B-11.8%
3BBB+11.58%
4BBB9.89%
5BBB-7.56%
6BB+6.14%
7Non-Rated6.13%
8BB-5.77%
9A-4.89%
Asset type
1US Fixed Interest71.27%
2Money Market6.62%
3Mexican Fixed Interest5.45%
4Australian Fixed Interest3.02%
5US Corporate Fixed Interest2.37%
6Greek Fixed Interest2.02%
7Luxembourg Fixed Interest1.92%
8Belgian Fixed Interest1.85%
9Canadian Fixed Interest1.85%
Individual holdings
1MORGAN STANLEY FRN 24/10/23 USD10003.63%
2GRUPO TELEVISA SAB 4.625% BDS 30/01/26 USD2000003.07%
3GOLDMAN SACHS GROUP INC FRN 28/10/27 USD20003.05%
4JPMORGAN CHASE & CO FRN 24/10/23 USD20003.03%
5AUSTRALIA & NEW ZEALAND BANKING GRP FRN 23/11/21 USD2500003.02%
6BANK OF AMERICA CORP 4.183% BDS 25/11/27 USD20003.02%
7WELLS FARGO & CO FRN 31/10/23 USD 10003.02%
8ABBOTT LABORATORIES 3.75% BDS 30/11/26 USD20002.99%
9METLIFE INC 10.75% BDS 01/08/69 USD10002.89%
Management
Fund manager group
Principal Global Investors
Fund manager company
Principal Global Investors (Ir
Fund type
Unit Trust
Fund objective
The Fund seeks to achieve its objective by investing the majority of its assets in high yield corporate bonds, securitized debt (as further described below), emerging markets bonds as well as government bonds and investment grade corporate bonds from markets around the world.
Benchmark
  • Barclays 3 month USD LIBOR
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Mark Denkinger22/06/2015Mark is a portfolio manager at Principal Global Fixed Income, with responsibility for high yield credit and leveraged loans. Previously, Mark was the managing director of fixed income credit research and trading. Mark joined the firm in 1990 and assumed his current role in 2004, having previously served as a portfolio manager and senior research analyst specializing in corporate debt with an emphasis on high yield and distressed credits. He received his bachelor's degree in finance and an MBA with a finance emphasis from the University of Iowa. Mark has earned the right to use the Chartered Financial Analyst designation. He is a member of the CFA Institute and the CFA Society of Iowa.
William C. Armstrong22/06/2015Bill is a portfolio manager for Principal Global Fixed Income. He manages core plus portfolios that invest in corporate bonds, mortgage-backed securities, commercial mortgage-backed securities, asset-backed securities, sovereigns, and agencies. Bill joined the firm in 1992. Previously, he served as a commissioned bank examiner at Federal Deposit Insurance Commission. Bill received an MBA from the University of Iowa and a bachelor's degree from Kearney State College. He has earned the right to use the Chartered Financial Analyst designation. Bill is a member of the CFA Institute and the CFA Society of Iowa, of which he formerly served as president.
Darrin Smith22/06/2015Darrin is a portfolio manager at Principal Global Fixed Income. He is a member of the high yield portfolio management team, with responsibility for high yield securities and leveraged loans. Darrin joined the firm in 2007 and has experience as a high yield portfolio manager since 1998. Previously, Darrin was a vice president and senior high yield portfolio manager at Aviva Capital Management. He received an MBA from Drake University and a bachelor's degree in economics from Iowa State University. Darrin has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Iowa. He is a Fellow of the Life Management Institute (FLMI) and a member of the Life Officers' Management Association (LOMA).
Joshua Rank22/06/2015Joshua is a high yield portfolio manager at Principal Global Investors. He is responsible for high yield and leveraged loan strategies. Joshua joined the firm in 2013. Prior to his current role, Joshua served as a vice president, senior high yield portfolio manager at Aviva Investors Americas. He received a bachelor's degree in finance from Iowa State University. Joshua holds the Chartered Financial Analyst designation.
Darryl Trunnel22/06/2015Darryl is a portfolio manager at Principal Global Fixed Income with responsibility for emerging markets and manages opportunistic credit strategies. Darryl joined the firm in 2008. Darryl has 26 years experience in the asset management industry, and prior to joining PGI was founder, principal, and portfolio manager at Blackhawk Capital Management, Iowa City, Iowa. In this capacity, he managed and operated a hedge fund including managing and trading the corporate bond and credit derivative portfolio. His background also includes positions with Credit Suisse First Boston as a director, with Eagle Capital as a principal and corporate bond trading manager, and with Cargill as an options trading and trading technology manager. He received a bachelor's degree in agricultural business from Iowa State University. Darryl has earned the right to use the Chartered Financial Analyst designation and is a member of both the CFA Institute and the CFA Society of Iowa.
Compliance
UCITS V Compliant
Domicile
No data available.
Fund for sale in
Belgium, Switzerland, Germany, Spain, Finland, France, United Kingdom, Guernsey, Ireland, Italy, Jersey, Netherlands, Offshore, Singapore, Sweden
Principal GIF Global Credit Alpha A Acc USD
Initial charge5%
Annual charge1.3%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPQA
Principal GIF Global Credit Alpha A Hedged Acc AUD
Initial charge5%
Annual charge1.3%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyAUD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPQC
Principal GIF Global Credit Alpha A Hedged Acc CHF
Initial charge5%
Annual charge1.3%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyCHF
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPQI
Principal GIF Global Credit Alpha A Hedged Acc EUR
Initial charge5%
Annual charge1.3%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPQE
Principal GIF Global Credit Alpha A Hedged Acc GBP
Initial charge5%
Annual charge1.3%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPQG
Principal GIF Global Credit Alpha A Hedged Acc JPY
Initial charge5%
Annual charge1.3%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyJPY
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPQK
Principal GIF Global Credit Alpha A Hedged Inc AUD
Initial charge5%
Annual charge1.3%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyAUD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPQD
Principal GIF Global Credit Alpha A Hedged Inc CHF
Initial charge5%
Annual charge1.3%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyCHF
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPQJ
Principal GIF Global Credit Alpha A Hedged Inc EUR
Initial charge5%
Annual charge1.3%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPQF
Principal GIF Global Credit Alpha A Hedged Inc GBP
Initial charge5%
Annual charge1.3%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPQH
Principal GIF Global Credit Alpha A Hedged Inc JPY
Initial charge5%
Annual charge1.3%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyJPY
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPQL
Principal GIF Global Credit Alpha A Inc USD
Initial charge5%
Annual charge1.3%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPQB
Principal GIF Global Credit Alpha D Acc USD
Initial charge5%
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.64%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPQW
Principal GIF Global Credit Alpha D Inc USD
Initial charge5%
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.64%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPQX
Principal GIF Global Credit Alpha F Acc USD
Initial charge-
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)2.14%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPQY
Principal GIF Global Credit Alpha F Inc USD
Initial charge-
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)2.14%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPQZ
Principal GIF Global Credit Alpha I Acc USD
Initial charge-
Annual charge0.65%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)0.79%
Total expense ratio (TER)0.78%
Bid price-
Offer price-
Mid price11.18
CurrencyUSD
Price updated06/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMH6P
Principal GIF Global Credit Alpha I Hedged Acc AUD
Initial charge-
Annual charge0.65%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyAUD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPQM
Principal GIF Global Credit Alpha I Hedged Acc CHF
Initial charge-
Annual charge0.65%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyCHF
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPQS
Principal GIF Global Credit Alpha I Hedged Acc EUR
Initial charge-
Annual charge0.65%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPQO
Principal GIF Global Credit Alpha I Hedged Acc GBP
Initial charge-
Annual charge0.65%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPQQ
Principal GIF Global Credit Alpha I Hedged Acc JPY
Initial charge-
Annual charge0.65%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyJPY
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPQU
Principal GIF Global Credit Alpha I Hedged Inc AUD
Initial charge-
Annual charge0.65%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyAUD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPQN
Principal GIF Global Credit Alpha I Hedged Inc CHF
Initial charge-
Annual charge0.65%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyCHF
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPQT
Principal GIF Global Credit Alpha I Hedged Inc EUR
Initial charge-
Annual charge0.65%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPQP
Principal GIF Global Credit Alpha I Hedged Inc GBP
Initial charge-
Annual charge0.65%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPQR
Principal GIF Global Credit Alpha I Hedged Inc JPY
Initial charge-
Annual charge0.65%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyJPY
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPQV
Principal GIF Global Credit Alpha I Inc USD
Initial charge-
Annual charge0.65%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPRA
Principal GIF Global Credit Alpha N Acc USD
Initial charge-
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNF7I
Principal GIF Global Credit Alpha N Hedged Acc EUR
Initial charge-
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNF7G
Principal GIF Global Credit Alpha N Hedged Acc GBP
Initial charge-
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNF7K
Principal GIF Global Credit Alpha N Hedged Inc EUR
Initial charge-
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNF7H
Principal GIF Global Credit Alpha N Hedged Inc GBP
Initial charge-
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNF7L
Principal GIF Global Credit Alpha N Inc USD
Initial charge-
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNF7J
Data provided by

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