Fact sheet: RWC Core Plus

Fund information
Fund name
RWC Core Plus B EUR
Fund manager company
RWC
Fund type
Offshore Fund
Fund managers
  • Esther Wattsince 01/11/2009
  • Davide Basilesince 30/09/2013
Fund objective
To generate strong positive returns over a 36 month period with low volatility whilst minimising drawdowns by using the convexity and capital protection that are inherent in convertible bonds, whilst enhancing the profile of returns with complementary asset classes and derivative exposure.
Benchmark
  • 1 MONTH EURIBOR +4.5%
Investment style
Absolute Return
Investment method
Convertibles
Quick stats
1 Year return
0.3%
1 Year rank in sector
64/131
Sector
FO Absolute Return
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.
0.91%
Fund size
£24m (£29m 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.
19
Top in this sector
Fund name1 Year
SW Mitchell Emerging European16.7%
Pioneer SICV-AbsRetBd16.1%
Pictet Scv II Dyn Ass Alloc11.2%
Orbis Optimal SA9.3%
Polar Capital UK Abs Eq9%
...more in FO Absolute Return

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.2%-0.1%1.2%0.3%7%6.8%
Sector0%-0.5%0.6%0%2.7%9.8%
Rank within sector60 / 14072 / 14046 / 13864 / 13116 / 8341 / 63
Quartile2nd3rd2nd2nd1st3rd
Calendar performance
 YTD - 20162015201420132012
Fund0.7%2.6%2.9%1.6%-0.6%
Sector0.3%0.7%1.2%3.6%3.9%
Rank within sector59 / 13133 / 11526 / 8747 / 7057 / 62
Quartile2nd2nd2nd3rd4th
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.
1.19
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.
1.4
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%.
3.04
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.
1.78
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.
0.82
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.
0.72
Price movement
52 week high1224.96
52 week low1163.85
Current bid price-
Current offer price-
Current mid price1221.97
Region
No data available.
Industry sector
1Non-Rated48.1%
2A15.7%
3BBB-14.3%
4BBB8.5%
5AA6.4%
6Money Market3.9%
7Unknown3.1%
Asset type
No data available.
Individual holdings
No data available.
Management
Fund manager group
RWC
Fund manager company
RWC
Fund type
Offshore Fund
Fund objective
To generate strong positive returns over a 36 month period with low volatility whilst minimising drawdowns by using the convexity and capital protection that are inherent in convertible bonds, whilst enhancing the profile of returns with complementary asset classes and derivative exposure.
Benchmark
  • 1 MONTH EURIBOR +4.5%
Investment style
Absolute Return
Investment method
Convertibles
Fund managers
NameSinceBiography
Esther Watt01/11/2009Esther Watt joined RWC in 2009 having previously worked as a global fixed income product specialist at Fortis Investments. Prior to Fortis, Esther was an analyst within the global credit risk management division at JP Morgan. Esther graduated from the ICMA Centre at Reading University with a BSc in International Securities, Investment and Banking and is a CFA Charterholder.
Davide Basile30/09/2013Davide Basile is the Portfolio Manager. He is supported by Michelle Shi, Esther Watt, Makeem Asif & Uday Sikand. Davide Basile was previously Head of Convertible Bonds and the lead portfolio manager for Morgan Stanley Investment Management. He was an employee at Morgan Stanley since 2001 working both within Private Wealth Management and the Investment Management. From 2005 until he left in November 2009 Davide was responsible for the management of the convertible bond accounts including the Luxembourg SICAVs and the instutional convertible bond accounts.From 2003 to 2005 Davide worked with Randall Curtis on the convertible bond funds that had been launched in 2002. Davide was the number two on the funds and was responsible for portfolio management and risk management. Prior to this Davide worked within the client strategy group at Morgan Stanley Private Wealth Management where he was involved in the use of derivatives for portfolio protection. In 2005 Davide spent 3 months away from Morgan Stanley when he left with Randall Curtis to join a boutique before he was recruited back to the firm to be Head of Convertible Bonds. From 1998 Davide worked in Riyadh as a project manager in the telecommunications industry.Davide graduated from Imperial College where he gained a degree in Material Science Engineering. He spent his childhood in San Francisco, Rome and Tanzania before being educated in the UK. He is an American and Italian passport holder.
Compliance
IA Recognised, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Switzerland, Germany, United Kingdom, Italy, Luxembourg, Offshore, Sweden
RWC Core Plus A CHF
Initial charge5%
Annual charge1.35%
Min single investment£25,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)1.65%
Total expense ratio (TER)1.59%
Bid price-
Offer price-
Mid price100.847
CurrencyCHF
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFNQ4
RWC Core Plus A EUR
Initial charge5%
Annual charge1.35%
Min single investment£25,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)1.67%
Total expense ratio (TER)1.64%
Bid price-
Offer price-
Mid price1103.2688
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE0T8
RWC Core Plus A GBP
Initial charge5%
Annual charge1.35%
Min single investment£25,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)1.65%
Total expense ratio (TER)1.64%
Bid price-
Offer price-
Mid price570.274
CurrencyGBP
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeB2M1
RWC Core Plus A USD
Initial charge5%
Annual charge1.35%
Min single investment£25,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)1.65%
Total expense ratio (TER)1.64%
Bid price-
Offer price-
Mid price1018.5422
CurrencyUSD
Price updated07/08/2013
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE0T9
RWC Core Plus B CHF
Initial charge5%
Annual charge0.7%
Min single investment£10,000,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)0.91%
Total expense ratio (TER)0.89%
Bid price-
Offer price-
Mid price982.8102
CurrencyCHF
Price updated16/01/2012
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKTG8
RWC Core Plus B EUR
Initial charge5%
Annual charge0.7%
Min single investment£10,000,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)0.91%
Total expense ratio (TER)0.91%
Bid price-
Offer price-
Mid price1221.9686
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeB0B3
RWC Core Plus B GBP
Initial charge5%
Annual charge0.7%
Min single investment£10,000,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)0.91%
Total expense ratio (TER)0.91%
Bid price-
Offer price-
Mid price587.8684
CurrencyGBP
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE0U1
RWC Core Plus B USD
Initial charge5%
Annual charge0.7%
Min single investment£10,000,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)0.93%
Total expense ratio (TER)0.91%
Bid price-
Offer price-
Mid price1213.484
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE0U0
RWC Core Plus C EUR
Initial charge5%
Annual charge0.7%
Min single investment£10,000,000
Min regular saving£5,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1124.9139
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJPPW
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