Fact sheet: Royal London Short Dur Credit

Fund information
Fund name
Royal London Short Duration Credit M Inc
Fund manager company
Royal London Unit Tst Mgrs Ltd
Fund type
OEIC
Fund manager
  • Paola Binnssince 08/11/2013
Fund objective
To achieve a combination of mainly income with some capital growth over the medium term.
Benchmark
  • ML 1-5 year Sterling Non-Gilt All Stocks Index
Investment style
Absolute Return
Investment method
Fixed Interest
Quick stats
1 Year return
4.2%
1 Year rank in sector
48/77
Sector
UT Sterling Strategic Bond
Yield
3.1%
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.
0.34%
Fund size
£187m (£93m 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.
8
Mid price
101.7
Top in this sector
Fund name1 Year
Fidelity I Stg Cr + Bd11.8%
Natixis LS Stgc Inc11%
Fidelity UK Inv Grd Lg Cr10.6%
Fidelity Pre-Retirmnt Bd9.8%
NFU Mutual Gilt & Corporate Bond8.9%
...more in UT Sterling Strategic Bond

Performance snapshot

Holdings snapshot

  • International100%
  • Structured Products29.1%
    Financial Services21.3%
    Investment Trusts10.1%
    Insurance9.8%
    Property8.5%
  • Global Corporate Fixed Interest100%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund--0%2%4.2%10.9%-
Sector-1.2%-3.1%2.3%4.9%12.6%32.2%
Rank within sector10 / 839 / 8256 / 8248 / 7747 / 71-
Quartile1st1st3rd3rd3rd
Calendar performance
 YTD - 20162015201420132012
Fund4.3%1.6%4.8%--
Sector5.7%-0.3%6.8%2.6%12.6%
Rank within sector59 / 7712 / 7448 / 72--
Quartile4th1st3rd
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.
2.11
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.
0.34
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%.
1.41
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.
2.38
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.
-0.19
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.
0.65
Price movement
52 week high103.6
52 week low100.3
Current bid price-
Current offer price-
Current mid price101.7
Region
1International100%
Industry sector
1Structured Products29.1%
2Financial Services21.3%
3Investment Trusts10.1%
4Insurance9.8%
5Property8.5%
6Utilities7.2%
7Consumer Services4.5%
8Real Estate3.6%
9Mortgage & Secured Bonds2.2%
Asset type
1Global Corporate Fixed Interest100%
Individual holdings
1TEMPLE BAR INVESTMENT 9.875% 31/12/20171.9%
2FIRST HYDRO FINANCE 9% GTD SEC BDS 31/7/2021 GBP(REGD)1.4%
3VALUE AND INCOME TRUST 11% 31/03/20211.4%
4ARKLE MASTER ISSUER PLC 4.681% NTS 17/02/17 GBP50000 144A1.3%
5ANNINGTON FINANCE NO 1 8% SECURED BDS 2/10/2021 GBP100001.2%
6CO-OPERATIVE BANK 4.75% GBL CVD BDS 11/11/21 GBP 2011-11.2%
7HALOS 8.375% DEB STK 9/11/20181.2%
8HOME GROUP 0% 11/05/20191.2%
9FIRST DEBENTURE FINANCE11.125% 02/01/20181.1%
Management
Fund manager group
Royal London Unit Tst Mgrs
Fund manager company
Royal London Unit Tst Mgrs Ltd
Fund type
OEIC
Fund objective
To achieve a combination of mainly income with some capital growth over the medium term.
Benchmark
  • ML 1-5 year Sterling Non-Gilt All Stocks Index
Investment style
Absolute Return
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Paola Binns08/11/2013Paola 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 Short Duration Credit M Inc
Initial charge-
Annual charge0.25%
Min single investment£100,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)0.34%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price101.7
CurrencyGBX
Price updated05/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJPBR
Royal London Short Duration Credit Z Inc
Initial charge-
Annual charge0.2%
Min single investment£1,000,000
Min regular saving£50,000
Available in ISAYes
Ongoing charge (OCF)0.26%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price101.9
CurrencyGBX
Price updated05/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeJPBS
Data provided by

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