Fact sheet: Royal London Durtn Hgd Crdt

Fund information
Fund name
Royal London Duration Hedged Credit Z Acc
Fund manager company
Royal London Unit Tst Mgrs Ltd
Fund type
OEIC
Fund managers
  • Shalin Shahsince 31/05/2015
  • Paola Binnssince 31/05/2015
Fund objective
The fund aims to achieve a positive absolute return over the medium (5 years) to long (7 years) term in all market conditions. The fund does not offer any element of capital protection or guarantee that this return will be achieved.
Benchmark
  • 3 Month LIBOR
Investment style
Absolute Return
Investment method
Fixed Interest
Quick stats
1 Year return
9.4%
1 Year rank in sector
14/72
Sector
UT Targeted Absolute Return
Yield
2.2%
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.
0.54%
Fund size
£165m (£176m 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.
22
Mid price
114.8
Top in this sector
Fund name1 Year
7IM Unconstrained19.5%
CF Ruffer Absolute Return17.3%
FP Pictet Multi Asset Portfolio16.3%
Schroder UKDynAbsRet14.4%
IFSL Brooks Macdonald DC14.2%
...more in UT Targeted Absolute Return

Performance snapshot

Holdings snapshot

  • International111.1%
    Not Specified-11.1%
  • BBB36%
    Unrated21.7%
    AA20.8%
    A19%
    BB10.9%
  • Global Corporate Fixed Interest93.1%
    UK Gilts16.6%
    Global Government Fixed Interest0.4%
    Alternative Investment Strategies-10.1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.3%2%2.7%9.4%4.2%-
Sector0.3%1.4%1.3%2.6%5.4%15.2%
Rank within sector49 / 7826 / 7521 / 7514 / 7237 / 56-
Quartile3rd2nd2nd1st3rd
Calendar performance
 YTD - 20172016201520142013
Fund1.3%2.5%0.2%1.5%6.4%
Sector0.6%1%2.2%2.5%6.5%
Rank within sector21 / 7828 / 7150 / 6545 / 5623 / 51
Quartile2nd2nd4th4th2nd
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.
-0.41
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.
0.28
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%.
3.79
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.
5.39
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.
-0.96
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.
0.18
Price movement
52 week high115.1
52 week low104.9
Current bid price-
Current offer price-
Current mid price114.8
Region
1International111.1%
2Not Specified-11.1%
Industry sector
1BBB35.99%
2Unrated21.7%
3AA20.81%
4A19.05%
5BB10.88%
6AAA1.68%
7Others-10.11%
Asset type
1Global Corporate Fixed Interest93.11%
2UK Gilts16.61%
3Global Government Fixed Interest0.39%
4Alternative Investment Strategies-10.11%
Individual holdings
1TREASURY 1.25% GILT 22/7/18 GBP0.0112.5%
2TREASURY 5% GILT 07/03/18 GBP4.2%
3HSBC BANK PLC 5.375%CALL SUB STEP UP NTS11/30GBP10002%
4TELEREAL SECURITISATION FLTG RATE NTS 10/12/33 GBP1000`B6`1.7%
5LAW DEBENTURE FINANCE 6.125% GTD SEC BDS 12/10/2034 GBP(VAR)1.3%
6CO-OPERATIVE BANK 4.75% GBL CVD BDS 11/11/21 GBP 2011-11.2%
7EDINBURGH INVESTMENT TST PLC 7 3/4% DEB STK 20221.2%
8FINANCE FOR RESIDENT SOCIAL HOUSING SER`1`CL`A1`AS BKD8.369%NT 2058 REG`S`BR1.2%
9GROSVENOR UK FINANCE 6.5% DEB STK 29/9/2026 GBP11.2%
Management
Fund manager group
Royal London Unit Tst Mgrs
Fund manager company
Royal London Unit Tst Mgrs Ltd
Fund type
OEIC
Fund objective
The fund aims to achieve a positive absolute return over the medium (5 years) to long (7 years) term in all market conditions. The fund does not offer any element of capital protection or guarantee that this return will be achieved.
Benchmark
  • 3 Month LIBOR
Investment style
Absolute Return
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Shalin Shah31/05/2015Shalin 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.
Paola Binns31/05/2015Paola Binns is a Senior Fund Manager within the Fixed Income team. She joined Royal London in 2007 from Credit Suisse Asset Management and has over 20 years' investment experience.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Royal London Duration Hedged Credit A
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBX
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0GDM
Royal London Duration Hedged Credit B
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBX
Price updated01/01/1900
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0GDN
Royal London Duration Hedged Credit Z Acc
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£50,000
Available in ISAYes
Ongoing charge (OCF)0.54%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price114.8
CurrencyGBX
Price updated27/02/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0GDO
Data provided by

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