Fact sheet: Royal London ShtDr GblHY Bd

Fund information
Fund name
Royal London Short Duration Global High Yield Bond M Inc
Fund manager company
Royal London Asset Mgmt (IRL)
Fund type
OEIC
Fund managers
  • Azhar Hussainsince 15/02/2013
  • Stephen Tapleysince 15/02/2013
Fund objective
To provide income. The Fund seeks to achieve its investment objective by outperforming its benchmark, the 3 Month LIBOR (the “Benchmark”) by 2% per annum over rolling three year periods.
Benchmark
  • LIBOR 3 month GBP
Investment style
Active,High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
4.1%
1 Year rank in sector
67/73
Sector
FO Fixed Int - Global High Yield
Yield
5.9%
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.
0.61%
Fund size
£536m (£332m 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
Top in this sector
Fund name1 Year
Pioneer SICV-Gbl Hi Yld31.9%
Natixis LoomsSyles HInc25%
T. Rowe Price Gbl HiYld Bd14.4%
T. Rowe Price GblHghIncBd14.3%
Franklin High Yield14.1%
...more in FO Fixed Int - Global High Yield

Performance snapshot

Holdings snapshot

  • International100%
  • Telecommunications33.1%
    Consumer Services25.6%
    General Industrials23%
    Consumer Goods14.5%
    Real Estate3%
  • Global Corporate Fixed Interest100%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.2%0.5%1.5%4.1%12.1%-
Sector0.3%0.8%4.9%9.1%9.8%33.4%
Rank within sector55 / 8338 / 7970 / 7567 / 7317 / 58-
Quartile3rd2nd4th4th2nd
Calendar performance
 YTD - 20162015201420132012
Fund4%4.6%2.5%--
Sector10.5%-2.5%1.4%5.2%15.5%
Rank within sector70 / 734 / 6518 / 58--
Quartile4th1st2nd
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.
3.18
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.
0.21
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.
0.25
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%.
1.33
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.
3.78
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.
0.24
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.
0.58
Price movement
52 week high0.96
52 week low0.92
Current bid price-
Current offer price-
Current mid price0.93
Region
1International100%
Industry sector
1Telecommunications33.1%
2Consumer Services25.6%
3General Industrials23%
4Consumer Goods14.5%
5Real Estate3%
6Structured Products0.8%
Asset type
1Global Corporate Fixed Interest100%
Individual holdings
1BEVERAGE PACKAGING HLDGS(LUX)II SA 5.625% BDS 15/12/16 USD1000 REGS2.2%
2T-MOBILE US INC 5.25% SRN 01/09/18 USD1000 144A2.2%
3ARDAGH PACKAGING FINANCE FRN 15/12/19 USD10001.8%
4BULGARIAN TELECOMMUNICATION CO 6.625% BDS 15/11/18 EUR1000 144A1.8%
5CABLEVISION SYSTEMS CORP 8.625% BDS 15/09/17 USD1000`144A`1.8%
6RITE AID CORP 9.25% BDS 15/03/20 144A1.8%
7UPC HOLDING BV 6.75% BDS 15/03/23 CHF1000REG S1.8%
8ALTICE FINANCING SA 9% BDS 15/06/23 EUR1000001.7%
9DISH DBS CORP 4.625% BDS 15/07/17 USD1000 144A1.7%
Management
Fund manager group
Royal London Asset Mgmt (IRL)
Fund manager company
Royal London Asset Mgmt (IRL)
Fund type
OEIC
Fund objective
To provide income. The Fund seeks to achieve its investment objective by outperforming its benchmark, the 3 Month LIBOR (the “Benchmark”) by 2% per annum over rolling three year periods.
Benchmark
  • LIBOR 3 month GBP
Investment style
Active,High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Azhar Hussain15/02/2013Azhar joined RLAM in May 2012 from Insight Investment Management, where he was Head of High Yield and Leveraged Loans, and the manager of a number of high yield credit funds. Prior to Insight, he worked at Gulf International Bank (GIB) in London, specialising in global high yield. He joined GIB in 2001 as an analyst, before assuming his first portfolio management role two years later and subsequently establishing a high yield team. He began his career at Deloitte & Touche in 1996, where he qualified as a Chartered Accountant. Azhar has a BA in Economics and Law from the University of London (School of Oriental & African Studies).
Stephen Tapley15/02/2013Stephen Tapley joined RLAM in 2012 as an assistant Fund manager reporting to Azhar Hussain. He joined from Scottish Widows Investment Partnership (SWIP), where, for the prior two years, he was a high yield analyst focusing on the European market and covering the chemicals, paper & packaging, healthcare and heavy industrials sectors. His research role included credit and liquidity modelling, and idea generation. Prior to SWIP he spent three years as an investment analyst at Gulf International Bank UK, where he focused on high yield credit and specialised on event-driven idea generation for a range of long only and hedge Fund strategies. A CFA Charterholder, Stephen holds a BEng in Mechatronic Engineering and an MSc in Financial & Industrial Mathematics, both from Dublin City University.
Compliance
IA Recognised, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom, Ireland, Offshore
Royal London Short Duration Global High Yield Bond A Inc
Initial charge4%
Annual charge0.9%
Min single investment£1,000
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.01%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price0.9302
CurrencyGBP
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeI7SK
Royal London Short Duration Global High Yield Bond M Inc
Initial charge-
Annual charge0.5%
Min single investment£100,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)0.61%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price0.9333
CurrencyGBP
Price updated07/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeI7SL
Royal London Short Duration Global High Yield Bond Z Inc
Initial charge-
Annual charge0.4%
Min single investment£1,000,000
Min regular saving£50,000
Available in ISAYes
Ongoing charge (OCF)0.51%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price0.9439
CurrencyGBP
Price updated07/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeI7SN
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