Fact sheet: Royal London Inv Grd Short Dtd Cr

Fund information
Fund name
Royal London Investment Grade Short Dated Credit Z
Fund manager company
Royal London Unit Tst Mgrs Ltd
Fund type
OEIC
Fund managers
  • Paola Binnssince 07/12/2015
  • Richard Nelsonsince 07/12/2015
Fund objective
The investment objective of the Fund is to provide a return from a combination of income and capital growth by investing in a diversified portfolio of investment grade short dated bonds. The Fund will seek to outperform its benchmark, ML 1-5 year Sterling Non-Gilt All Stocks Index, by 0.25% per annum over rolling three year periods.
Benchmark
  • ML 1-5 year Sterling Non-Gilt All Stocks Index
Investment style
Active
Investment method
Fixed Interest
Quick stats
1 Year return
-
1 Year rank in sector
-
Sector
UT Sterling Corporate Bond
Yield
2.6%
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.
0.25%
Fund size
£121m (£37m last year)
Mid price
100.7
Top in this sector
Fund name1 Year
Schroder Long Dated Corp Bond10.4%
F&C Instl Lg Dtd Corp Bd9.2%
Newton Long Corporate Bond9.2%
Henderson Inst Long Dat Cr9.1%
Blackrock InstBdOver10YrCorp8.4%
...more in UT Sterling Corporate Bond

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.1%-0.5%1.5%---
Sector-1.6%-4.9%2.7%5.4%16.6%35%
Rank within sector4 / 977 / 9483 / 94---
Quartile1st1st4th
Calendar performance
 YTD - 20162015201420132012
Fund3%----
Sector6.9%-0.3%10.1%0.2%12.1%
Rank within sector87 / 92----
Quartile4th
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.
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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 high102.1
52 week low99.32
Current bid price-
Current offer price-
Current mid price100.7
Region
1International100%
Industry sector
1BBB47.3%
2A23.6%
3AAA16.3%
4AA12.8%
Asset type
1Global Fixed Interest100%
Individual holdings
1CO-OPERATIVE BANK 4.75% GBL CVD BDS 11/11/21 GBP 2011-12.1%
2PERMANENT MASTER ISSUER PPLC 4.805% 20171.9%
3ANNINGTON FINANCE NO 11.8%
4HOLMES MASTER 4.009% 15/10/20541.8%
5FOSSE MASTER ISSUER 4.635% 18/01/20171.6%
6JP MORGAN 6.125% VRN 30/05/20171.5%
7ARKLE MASTER ISSUER PLC 4.681% NTS 17/02/17 GBP50000 144A1.4%
8DNB BANK 6.0116% VRN PERP1.4%
9PORTERBROOK RAIL FINANCE LTD 5.5% BDS 20/04/19 GBP10001.4%
Management
Fund manager group
Royal London Unit Tst Mgrs
Fund manager company
Royal London Unit Tst Mgrs Ltd
Fund type
OEIC
Fund objective
The investment objective of the Fund is to provide a return from a combination of income and capital growth by investing in a diversified portfolio of investment grade short dated bonds. The Fund will seek to outperform its benchmark, ML 1-5 year Sterling Non-Gilt All Stocks Index, by 0.25% per annum over rolling three year periods.
Benchmark
  • ML 1-5 year Sterling Non-Gilt All Stocks Index
Investment style
Active
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Paola Binns07/12/2015Paola 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.
Richard Nelson07/12/2015Richard Nelson is a Fund Manager within the Fixed Income team. He joined Royal London in 2013, as part of the Co-op Asset Management acquisition, and has 18 years' investment experience.
Compliance
IA Recognised, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Royal London Investment Grade Short Dated Credit M
Initial charge-
Annual charge0.25%
Min single investment£100,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBX
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMUEI
Royal London Investment Grade Short Dated Credit R
Initial charge-
Annual charge-
Min single investment£150,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price100
CurrencyGBX
Price updated02/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeNLZV
Royal London Investment Grade Short Dated Credit Z
Initial charge-
Annual charge0.2%
Min single investment£1,000,000
Min regular saving£50,000
Available in ISAYes
Ongoing charge (OCF)0.25%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price100.7
CurrencyGBX
Price updated02/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeMUEJ
Data provided by

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