Fact sheet: Pru Kames High Yield Bd Pn

Fund information
Fund name
Pru Kames High Yield Bond Pn Ser A
Fund manager company
Prudential Assurance Company
Fund type
Pension Fund
Fund managers
  • David Robertssince 31/05/2016
  • Philip Milburnsince 19/10/2008
Underlying fund
Kames High Yield Bond
Fund objective
The investment strategy of the fund is to purchase units in the Kames High Yield Bond Fund. That fund aims to maximise total return (income plus capital) by investing in a portfolio of predominantly high yield bonds, selected investment grade bonds and cash. The fund may also hold sterling and other currency denominated bonds hedged back to sterling. It may also invest in deposits, money market instruments, derivative instruments and forward transactions.
Benchmark
  • IA Sterling High Yield Sector Average
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
13.8%
1 Year rank in sector
48/56
Sector
PN Sterling High Yield
Yield
-
Fund size
£2m (£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.
35
Bid price
225.8
Offer price
237.7
Top in this sector
Fund name1 Year
L&G High Income Pn24.6%
Aviva JPM Gbl HighYldBd Pn23.6%
SIP JPM Gbl Hi Yd Bd Pn23.4%
FL AXA Gbl High Inc EP22%
Royal London JPM Gbl Hi Yield Bd Pn21.9%
...more in PN Sterling High Yield

Performance snapshot

Holdings snapshot

  • USA52.4%
    UK10.3%
    Netherlands6%
    Money Market5.8%
    France4.7%
  • Industrials67%
    Financials18.3%
    Money Market7.3%
    Utilities4%
    Asset/Mortgage-Backed Securities3.4%
  • US Fixed Interest52.4%
    UK Fixed Interest13.9%
    Dutch Fixed Interest6%
    Money Market5.6%
    French Fixed Interest4.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.6%3.3%2.2%13.8%11.3%35.1%
Sector0.7%3.6%3.2%16.3%16.4%41.8%
Rank within sector41 / 5835 / 5854 / 5748 / 5641 / 4937 / 46
Quartile3rd3rd4th4th4th4th
Calendar performance
 YTD - 20172016201520142013
Fund1.3%8.2%-1.3%4.5%6.1%
Sector1.5%11.2%-0.1%4.4%6.8%
Rank within sector36 / 5847 / 5636 / 5414 / 4940 / 49
Quartile3rd4th3rd2nd4th
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.
-1.84
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.
1.11
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.
0.06
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%.
5.24
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.
1.95
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.
-0.67
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.
0.87
Price movement
52 week high225.8
52 week low199.5
Current bid price225.8
Current offer price237.7
Current mid price-
Region
1USA52.43%
2UK10.27%
3Netherlands5.96%
4Money Market5.82%
5France4.71%
6Jersey3.63%
7Luxembourg3.28%
8Germany2.74%
9Switzerland2.74%
Industry sector
1Industrials67%
2Financials18.3%
3Money Market7.3%
4Utilities4%
5Asset/Mortgage-Backed Securities3.4%
Asset type
1US Fixed Interest52.43%
2UK Fixed Interest13.9%
3Dutch Fixed Interest5.96%
4Money Market5.65%
5French Fixed Interest4.71%
6Luxembourg Fixed Interest3.28%
7German Fixed Interest2.74%
8Swiss Fixed Interest2.74%
9Irish Fixed Interest2.67%
Individual holdings
1CPUK FINANCE LTD 7% BDS 28/08/20 GBP1000002.03%
2NUMERICABLE SFR BDS 01/05/26 USD200000 144A2%
3ACCESS MIDSTREAM PARTNERS LP 5.875% BDS 15/03/24 USD20001.76%
4CITIGROUP INC UNDATED BDS USD10001.75%
5AA BOND CO LTD(JE) 5.5% BDS 31/07/43 GBP100000 REG S1.6%
6SERVICE CORP INTL 4.5% BDS 15/11/20 USD10001.6%
7VIRGIN MEDIA RECEIVABLES FIN NOTES 5.5% BDS 15/09/24 GBP1000001.6%
8HCA INC 5.375% BDS 01/02/25 USD20001.53%
9INTERNATIONAL GAME TECHNOLOGY 6.25% BDS 15/02/22 USD- 10001.5%
Management
Fund manager group
Prudential
Fund manager company
Prudential Assurance Company
Fund type
Pension Fund
Fund objective
The investment strategy of the fund is to purchase units in the Kames High Yield Bond Fund. That fund aims to maximise total return (income plus capital) by investing in a portfolio of predominantly high yield bonds, selected investment grade bonds and cash. The fund may also hold sterling and other currency denominated bonds hedged back to sterling. It may also invest in deposits, money market instruments, derivative instruments and forward transactions.
Benchmark
  • IA Sterling High Yield Sector Average
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
David Roberts31/05/2016David Roberts is Head of Fixed Income and responsible for managing the fixed income team. In addition, he co-manages several funds including the flagship Kames Strategic Bond Fund, and has responsibility for overseeing cash and derivative management for the majority of Kames Capital’s clients. David joined us in 2004 from Britannic Asset Management where he was Head of Credit. He worked in the banking sector for a decade before moving into asset management. David studied Economics and Industrial Relations at the University of Strathclyde and has an MSc in Investment Analysis from the University of Stirling.
Philip Milburn19/10/2008Phil Milburn is Head of Investment Strategy in the Fixed Income team. He joined us in 1997 from the University of Edinburgh, where he earned a first class honours degree in Economics. After spells in UK and Latin American equities, Phil joined the fixed income team, where he now manages our strategic and high yield bond portfolios. Phil is also an integral member of the Investment Association Fixed Income Committee, helping lead on many industry initiatives.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
Pru Kames High Yield Bond Pn Ser A
Initial charge-
Annual charge1.45%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.45%
Bid price225.8
Offer price237.7
Mid price-
CurrencyGBX
Price updated17/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeD9K1
Data provided by

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