Fact sheet: ReAssure M&G Optimal Income PPB Pn

Fund information
Fund name
ReAssure M&G Optimal Income PPB Pn
Fund manager company
ReAssure Limited
Fund type
Pension Fund
Fund managers
  • Stefan Isaacssince 08/12/2006
  • Richard Woolnoughsince 08/12/2006
Underlying fund
M&G Optimal Income
Fund objective
The M&G Optimal Income fund is a flexible fund that can perform well in a wide variety of market conditions. Central to the investment philosophy of the M&G Optimal Income fund is that every bond has two characteristics: duration and credit risk. Duration is a measure of how sensitive a bond's price is to changes in interest rates, and is similar to the life of a bond. Credit risk is the risk of a company defaulting on its debts. At various stages throughout the economic cycle, credit risk or duration could be attractive, or both or neither may be attractive. The optimal income stream is the combination of duration and credit risk that maximises total return at any point in time. The manager uses a top-down investment approach to determine the optimal income stream throughout the economic cycle. To achieve the fund's investment objective, the fund manager may use derivatives.
Benchmark
  • No Specified Index
Investment style
Strategic Investment
Investment method
Fixed Interest
Quick stats
1 Year return
-
1 Year rank in sector
-
Sector
PN Sterling Strategic Bond
Yield
-
Fund size
£0m
Bid price
1.043
Offer price
1.098
Top in this sector
Fund name1 Year
AXA Wealth AXA Fram Mgd Inc Pn9.1%
Canlife AXA Fram Mgd Inc Pn9%
OMW AXA Framlington Mgd Inc8.3%
FL Artemis Stra Bd AP8.1%
Aviva Art Strategic Bd Pn8%
...more in PN Sterling Strategic Bond

Performance snapshot

Holdings snapshot

  • USA32.2%
    UK23.3%
    Germany22.1%
    France6.5%
    Italy2.6%
  • Government Bonds20.7%
    Telecommunications14.5%
    Banks12.3%
    Asset/Mortgage-Backed Securities7.4%
    Media6.1%
  • US Corporate Fixed Interest29.7%
    UK Corporate Fixed Interest21.7%
    German Government Fixed Interest12.8%
    French Corporate Fixed Interest5.8%
    Global Index Linked4.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.9%-0.5%3.4%---
Sector-0.6%-1.6%2.7%4.7%12.7%39.1%
Rank within sector16 / 17248 / 17254 / 172---
Quartile1st2nd2nd
Calendar performance
 YTD - 20162015201420132012
Fund-----
Sector5.5%0.7%5.6%5.9%15.8%
Rank within sector-----
Quartile
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 high1.05
52 week low1
Current bid price1.04
Current offer price1.1
Current mid price-
Region
1USA32.23%
2UK23.29%
3Germany22.11%
4France6.53%
5Italy2.59%
6Money Market2.56%
7Netherlands2.1%
8Mexico1.45%
9Spain1.2%
Industry sector
1Government Bonds20.74%
2Telecommunications14.51%
3Banks12.26%
4Asset/Mortgage-Backed Securities7.41%
5Media6.1%
6Equities5.02%
7Insurance4.27%
8Electronics3.77%
9Utilities3.48%
Asset type
1US Corporate Fixed Interest29.69%
2UK Corporate Fixed Interest21.71%
3German Government Fixed Interest12.84%
4French Corporate Fixed Interest5.76%
5Global Index Linked4.71%
6German Corporate Fixed Interest3.64%
7Money Market2.56%
8Dutch Corporate Fixed Interest1.92%
9US Equities1.88%
Individual holdings
1GERMANY(FEDERAL REPUBLIC OF) 0.5% BDS 13/10/17 EUR10003.46%
2GERMANY(FEDERAL REPUBLIC OF) FRN 23/02/18 EUR0.01 1652.33%
3GERMANY(FEDERAL REPUBLIC OF) 0.25% BDS 13/04/18 EUR1002.32%
4GERMANY(FEDERAL REPUBLIC OF) 0.5% BDS 07/04/17 EUR1002.3%
5GERMANY(FEDERAL REPUBLIC) 1.75% ILN 15/04/20 EUR0.012.09%
6GERMANY(FEDERAL REPUBLIC OF) IDX/LKD 15/04/18 EUR10001.87%
7VERIZON COMMUNICATIONS INC 4.672% NTS 15/03/55 USD20001.46%
8VERIZON COMMUNICATIONS INC 5.012% BDS 21/08/54 USD20001.46%
9TREASURY 1% GILT 07/09/17 GBP0.011.28%
Management
Fund manager group
ReAssure Limited
Fund manager company
ReAssure Limited
Fund type
Pension Fund
Fund objective
The M&G Optimal Income fund is a flexible fund that can perform well in a wide variety of market conditions. Central to the investment philosophy of the M&G Optimal Income fund is that every bond has two characteristics: duration and credit risk. Duration is a measure of how sensitive a bond's price is to changes in interest rates, and is similar to the life of a bond. Credit risk is the risk of a company defaulting on its debts. At various stages throughout the economic cycle, credit risk or duration could be attractive, or both or neither may be attractive. The optimal income stream is the combination of duration and credit risk that maximises total return at any point in time. The manager uses a top-down investment approach to determine the optimal income stream throughout the economic cycle. To achieve the fund's investment objective, the fund manager may use derivatives.
Benchmark
  • No Specified Index
Investment style
Strategic Investment
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Stefan Isaacs08/12/2006Stefan Isaacs is Deputy Head of Retail Fixed Interest for M&G's mutual fund range. He joined M&G as a graduate in 2001 and was subsequently promoted to corporate bond dealer specialising in high yield bonds and euro-denominated credit. Stefan joined the fund management team in 2006 and was appointed fund manager of the M&G European Corporate Bond Fund in April 2007 and the M&G Global High Yield Bond Fund in October 2010. Stefan is also deputy fund manager of the M&G Optimal Income Fund, the M&G European High Yield Fund and the M&G Global Floating Rate High Yield Fund.
Richard Woolnough08/12/2006Richard Woolnough joined M&G in January 2004 and is fund manager of the M&G Optimal Income Fund, the M&G Corporate Bond Fund and the M&G Strategic Corporate Bond Fund, three of the company's flagship fixed interest funds. Richard began his career at Lloyds Merchant Bank in 1985, moving to Italian insurer Assicurazioni Generali two years later, followed by SG Warburg. In 1995, he became a fund manager at Old Mutual. Richard graduated from the London School of Economics with a BSc in Economics.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
ReAssure M&G Optimal Income PPB Pn
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price1.043
Offer price1.098
Mid price-
CurrencyGBP
Price updated06/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN6LI
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