Fact sheet: Principal GIF HY

Fund information
Fund name
Principal GIF High Yield I Acc USD
Fund manager company
Principal Global Investors (Ir
Fund type
Unit Trust
Fund managers
  • Mark Denkingersince 31/03/2008
  • Joshua Ranksince 22/06/2013
  • Darrin Smithsince 31/03/2008
Fund objective
The Fund seeks to provide a return consisting of income and, over the long term, capital growth. The Fund seeks to achieve its overall objective by investing primarily in a portfolio of U.S. dollar denominated high yield fixed income securities. Value will be primarily added through security selection.
Benchmark
  • BofA Merrill Lynch Global High Yield
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
10.2%
1 Year rank in sector
12/43
Sector
FO Fixed Int - USD High Yield
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.
0.86%
Fund size
£142m (£133m 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.
83
Top in this sector
Fund name1 Year
Allianz US HiYd32.1%
Candriam GFUS HiYld Corp Bd32.1%
Old Mutual MtyInc HiYdBd27.8%
Nomura US Hg Yld Bd13.9%
SKY Hrb Gl Fd US Hi Yield11.9%
...more in FO Fixed Int - USD High Yield

Performance snapshot

Holdings snapshot

  • USA58.2%
    Luxembourg5.4%
    UK5.1%
    Money Market4.3%
    Italy3.7%
  • B15.2%
    B+15%
    BB12.4%
    BB+11.7%
    BB-11.1%
  • US Fixed Interest57.2%
    Luxembourg Fixed Interest5.4%
    UK Fixed Interest5.1%
    Money Market4.3%
    Italian Fixed Interest3.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund1.3%1.3%5.8%10.2%13.7%47.3%
Sector0.8%1.1%5.4%9.2%9%32.8%
Rank within sector6 / 4511 / 4313 / 4312 / 436 / 344 / 23
Quartile1st2nd2nd2nd1st1st
Calendar performance
 YTD - 20162015201420132012
Fund12.3%-0.6%0.9%9.9%18.1%
Sector11.2%-3.1%0.7%6.2%14.1%
Rank within sector19 / 435 / 3916 / 343 / 332 / 24
Quartile2nd1st2nd1st1st
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.
1.11
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.
1.09
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.
0.11
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%.
5.58
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.
1.22
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.
1.1
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.
0.96
Price movement
52 week high23.97
52 week low20.34
Current bid price-
Current offer price-
Current mid price23.96
Region
1USA58.22%
2Luxembourg5.37%
3UK5.15%
4Money Market4.34%
5Italy3.72%
6Germany3.71%
7France3.6%
8Netherlands3.03%
9Canada2.53%
Industry sector
1B15.17%
2B+14.96%
3BB12.42%
4BB+11.68%
5BB-11.14%
6B-10.82%
7BBB-6.23%
8CCC+5.54%
9Non-Rated3.03%
Asset type
1US Fixed Interest57.24%
2Luxembourg Fixed Interest5.37%
3UK Fixed Interest5.15%
4Money Market4.34%
5Italian Fixed Interest3.72%
6German Fixed Interest3.71%
7French Fixed Interest3.6%
8Dutch Fixed Interest3.03%
9Canadian Fixed Interest2.53%
Individual holdings
1ING BANK NV FRN 15/05/53 USD10001.33%
2OBERTHUR TECHNOLOGIES 9.25% BDS 30/04/20 EUR1000001.27%
3ARQIVA BROADCAST HOLDINGS 9.5% MTN 31/03/20 GBP100000 REG S1.15%
4HCA INC 4.75% BDS 01/05/23 USD20001.03%
5CCO HLDGS LLC/CAP CORP 5.125% BDS 01/05/23 USD10001.02%
6DIAMOND 1 FIN/DIAMOND 2 BDS 15/06/24 USD2000 144A1.01%
7JPMORGAN CHASE & CO DEP SHS REP 1/10TH INT PFD V FXD TO FLTG1%
8NUMERICABLE SFR 6% BDS 15/05/22 USD2000001%
9WIND ACQUISITION FINANCE SA 7.375% BDS 23/04/21 USD200000REG S0.99%
Management
Fund manager group
Principal Global Investors
Fund manager company
Principal Global Investors (Ir
Fund type
Unit Trust
Fund objective
The Fund seeks to provide a return consisting of income and, over the long term, capital growth. The Fund seeks to achieve its overall objective by investing primarily in a portfolio of U.S. dollar denominated high yield fixed income securities. Value will be primarily added through security selection.
Benchmark
  • BofA Merrill Lynch Global High Yield
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Mark Denkinger31/03/2008Mark 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.
Joshua Rank22/06/2013Joshua 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.
Darrin Smith31/03/2008Darrin 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).
Compliance
Transparent for Swiss Tax, Transparent for German Tax, Reporting Fund Status, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
Belgium, Switzerland, Germany, Spain, Finland, France, United Kingdom, Guernsey, Hong Kong, Ireland, Italy, Jersey, Netherlands, Offshore, Singapore, Sweden
Principal GIF High Yield A Acc USD
Initial charge5%
Annual charge1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.25%
Total expense ratio (TER)1.27%
Bid price-
Offer price-
Mid price17
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMEZJ
Principal GIF High Yield A Hedged Inc AUD
Initial charge5%
Annual charge1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.26%
Total expense ratio (TER)1.27%
Bid price-
Offer price-
Mid price12.85
CurrencyAUD
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeM2BM
Principal GIF High Yield A Hedged Inc GBP
Initial charge5%
Annual charge1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.25%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeM6TL
Principal GIF High Yield A Inc USD
Initial charge5%
Annual charge1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.26%
Total expense ratio (TER)1.29%
Bid price-
Offer price-
Mid price9.43
CurrencyUSD
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKQUA
Principal GIF High Yield D Acc USD
Initial charge5%
Annual charge0.75%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.6%
Total expense ratio (TER)1.62%
Bid price-
Offer price-
Mid price10.87
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeM6TM
Principal GIF High Yield D Inc USD
Initial charge5%
Annual charge0.75%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.6%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeM6TN
Principal GIF High Yield D2 Inc USD
Initial charge-
Annual charge0.75%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.6%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMWTX
Principal GIF High Yield F Acc USD
Initial charge-
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)2.04%
Total expense ratio (TER)2.12%
Bid price-
Offer price-
Mid price11.1
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN2YG
Principal GIF High Yield F Inc USD
Initial charge-
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeM6TP
Principal GIF High Yield I Acc JPY
Initial charge-
Annual charge0.75%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)0.85%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyJPY
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeM6TU
Principal GIF High Yield I Acc USD
Initial charge-
Annual charge0.75%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)0.86%
Total expense ratio (TER)0.88%
Bid price-
Offer price-
Mid price23.96
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeP473
Principal GIF High Yield I Hedged Acc AUD
Initial charge-
Annual charge0.75%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.25%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyAUD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeM6TS
Principal GIF High Yield I Hedged Acc BRL
Initial charge-
Annual charge0.75%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)0.86%
Total expense ratio (TER)0.88%
Bid price-
Offer price-
Mid price34.64
CurrencyBRL
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJJ4R
Principal GIF High Yield I Hedged Acc EUR
Initial charge-
Annual charge0.75%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)0.86%
Total expense ratio (TER)0.88%
Bid price-
Offer price-
Mid price8.48
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJY9T
Principal GIF High Yield I Hedged Acc GBP
Initial charge-
Annual charge0.75%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.25%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeM6TQ
Principal GIF High Yield I Hedged Inc AUD
Initial charge-
Annual charge0.75%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.25%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyAUD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeM6TR
Principal GIF High Yield I Hedged Inc BRL
Initial charge-
Annual charge0.75%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.25%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyBRL
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeM6TT
Principal GIF High Yield I Inc USD
Initial charge-
Annual charge0.75%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.25%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeM6TV
Principal GIF High Yield 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 codeNF8T
Principal GIF High Yield 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 codeNF8V
Principal GIF High Yield 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 codeNF8X
Principal GIF High Yield 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 codeNF8W
Principal GIF High Yield 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 codeNF8Y
Principal GIF High Yield 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 codeNF8U
Principal GIF High Yield P Acc USD
Initial charge-
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.02%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMDBZ
Principal GIF High Yield P Inc USD
Initial charge-
Annual charge0.65%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.02%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMDCA
Data provided by

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You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.