Fact sheet: RLPPC Buy and Maintain Credit Pn

Fund information
Fund name
RLPPC Buy and Maintain Credit Pn
Fund manager company
Royal London Pooled Pension
Fund type
Pension Fund
Fund manager
  • Shalin Shahsince 24/06/2015
No data available.
Fund objective
The Fund will aim to provide excess income (relative to equivalent UK Government Bonds) over the life of the Fund. The Fund aims to achieve an initial credit spread of 0.9-1.1% in excess of gilt yields within an acceptable risk framework. The portfolio will be managed with a constant duration of between 8-10 years.
Benchmark
  • IBOXX £ Non-Gilt All Maturities
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
10%
1 Year rank in sector
45/174
Sector
PN Sterling Fixed Interest
Yield
2.6%
Fund size
£38m (£38m 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.
42
Top in this sector
Fund name1 Year
OMW IPL F&C Sht Pr Rl Dn LDI Pn51.3%
OMW IPL F&C Real Dynamic LDI Pn50%
OMW IPL F&C Nominal Dyn LDI Pn34.6%
OMW IPL LGIM 2055IdxLkdGltPn26.4%
OMW IPL LGIMOvr15Yr I LGltPn23.8%
...more in PN Sterling Fixed Interest

Performance snapshot

Holdings snapshot

  • International100%
  • Structured Products33.9%
    Utilities19.9%
    Mortgage & Secured Bonds12%
    Property11.1%
    Real Estate5.1%
  • Global Corporate Fixed Interest100%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0%2.3%-1.8%10%--
Sector0.2%2.4%-2.8%10.4%25.8%35.3%
Rank within sector107 / 18151 / 17936 / 17845 / 174--
Quartile3rd2nd1st2nd
Calendar performance
 YTD - 20172016201520142013
Fund1.7%11.4%---
Sector1.3%13.1%-1.2%13.9%-1.7%
Rank within sector32 / 17950 / 174---
Quartile1st2nd
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 high118.56
52 week low105.17
Current bid price-
Current offer price-
Current mid price115.75
Region
1International100%
Industry sector
1Structured Products33.87%
2Utilities19.91%
3Mortgage & Secured Bonds12%
4Property11.05%
5Real Estate5.05%
6Financial Services4.17%
7Consumer Services3.78%
8Telecommunications2.53%
9Consumer Goods2.24%
Asset type
1Global Corporate Fixed Interest100%
Individual holdings
1EQUITY RELEASE 5.7% 26/02/20311.71%
2CO-OPERATIVE BANK 4.75% GBL CVD BDS 11/11/21 GBP 2011-11.47%
3FINANCE FOR RESIDENCE SOC HOUSING 8.569% 05/10/581.45%
4LLOYDS TSB BANK 5.125% NTS 07/MAR/2025 GBP10001.36%
5CLYDESDALE BANK 4.625 08/06/261.31%
6ABBEY NATIONAL TREASURY 5.75% 02/03/20261.26%
7KEYSTONE IT PLC 7 3/4% DEB STK 20201.19%
8BRITISH LAND CO PLC 5.357% 1ST MTG DEB BDS 31/03/28 GBP(VAR)1.12%
9YORKSHIRE BUILDING SOCIETY 4.75% NTS 12/04/18 GBP1000001.12%
Management
Fund manager group
Royal London
Fund manager company
Royal London Pooled Pension
Fund type
Pension Fund
Fund objective
The Fund will aim to provide excess income (relative to equivalent UK Government Bonds) over the life of the Fund. The Fund aims to achieve an initial credit spread of 0.9-1.1% in excess of gilt yields within an acceptable risk framework. The portfolio will be managed with a constant duration of between 8-10 years.
Benchmark
  • IBOXX £ Non-Gilt All Maturities
Investment style
No data available.
Investment method
No data available.
Fund manager
NameSinceBiography
Shalin Shah24/06/2015Shalin Shah joined the Fixed Interest team at RLAM in mid 2008. Over the last three and a half years he has been involved in a variety of areas, including LDI (Liability Driven Investment) product development, risk management and more recently, he has moved into a credit fund manager role. Prior to joining RLAM, Shalin worked at PricewaterhouseCoopers LLP where he was involved in advising clients on a variety of investment solutions, including LDI and strategic asset allocation. Shalin holds a BSc in MORSE (Mathematics, Operational Research, Statistics and Economics) from the University of Warwick and is a qualified actuary.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
RLPPC Buy and Maintain Credit Pn
Initial charge-
Annual charge0.2%
Min single investment£5,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.22%
Bid price-
Offer price-
Mid price115.745
CurrencyGBX
Price updated27/03/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeMFNW
Data provided by

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