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
  • 3 Months LIBID
Investment style
Active,High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
3.5%
1 Year rank in sector
70/74
Sector
FO Fixed Int - Global High Yield
Yield
5%
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.
0.64%
Fund size
£745m (£326m 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 Yld27.6%
Natixis LoomsSyles HInc17.4%
Fidelity Gbl Hi Yld17.1%
Franklin High Yield15.8%
LM WA Gbl Hi Yd15.5%
...more in FO Fixed Int - Global High Yield

Performance snapshot

Holdings snapshot

  • International100%
  • Consumer Services31.5%
    Telecommunications30.5%
    General Industrials24.4%
    Consumer Goods8.5%
    Real Estate2.6%
  • Global Corporate Fixed Interest100%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.6%0.8%1.6%3.5%11.3%-
Sector1.3%1.7%2.9%10.2%10%29.2%
Rank within sector76 / 8975 / 8664 / 7870 / 7416 / 59-
Quartile4th4th4th4th2nd
Calendar performance
 YTD - 20172016201520142013
Fund1.1%4.3%4.6%2.5%-
Sector2.7%11.4%-2.5%1.4%5.2%
Rank within sector73 / 8467 / 713 / 6417 / 58-
Quartile4th4th1st2nd
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.
2.91
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.
0.2
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.
0.05
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%.
1.29
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.
3.87
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.
0.11
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.
0.56
Price movement
52 week high0.95
52 week low0.91
Current bid price-
Current offer price-
Current mid price0.92
Region
1International100%
Industry sector
1Consumer Services31.53%
2Telecommunications30.52%
3General Industrials24.35%
4Consumer Goods8.46%
5Real Estate2.58%
6Financial Services1.51%
7Structured Products1.05%
Asset type
1Global Corporate Fixed Interest100%
Individual holdings
1TEGNA INC 5.125% 15/10/20191.53%
2ARQIVA BROADCAST HOLDINGS 9.5% BDS 31/03/20 GBP100000 144A1.52%
3NCR CORP 4.625% BDS 15/02/21 USD10001.5%
4VOUGEOT BIDCO PLC FRN 15/07/20 EUR1000 REG S1.49%
5GREIF INC 7.75% SNR NTS 01/08/19 USD10001.48%
6CPUK FINANCE LTD 7% BDS 28/08/20 GBP 1000001.47%
7UNIVISION COMMUNICATIONS INC 6.75% BDS 15/09/22 USD1000 144A1.47%
8ADRIA BIDCO BV 7.875 11/15/20201.44%
9UPC HOLDING BV 6.75% BDS 15/03/23 CHF1000REG S1.44%
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
  • 3 Months LIBID
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, UCITS IV Compliant, UCITS V 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)1.04%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price0.9163
CurrencyGBP
Price updated25/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeI7SK
Royal London Short Duration Global High Yield Bond M Acc
Initial charge-
Annual charge0.5%
Min single investment£100,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.61%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1.009
CurrencyGBP
Price updated25/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeNPZA
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)0.64%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price0.9189
CurrencyGBP
Price updated25/04/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeI7SL
Royal London Short Duration Global High Yield Bond Z Acc
Initial charge-
Annual charge0.4%
Min single investment£1,000,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.52%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1.0126
CurrencyGBP
Price updated25/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeNOLP
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)0.54%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price0.9292
CurrencyGBP
Price updated25/04/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeI7SN
Data provided by

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