Fact sheet: SW Blkrck Abs Alpha Pn

Fund information
Fund name
SW BlackRock Absolute Alpha Pension Series 2
Fund manager company
Scottish Widows Limited
Fund type
Pension Fund
Fund managers
  • Nick Osbornesince 17/01/2008
  • Nigel Ridgesince 28/03/2013
Underlying fund
BlackRock UK Absolute Alpha
Fund objective
BlackRock describe their funds aim as follows: to achieve a positive absolute return for investors and, as such the fund will not be managed against any UK equity index. The fund will be managed with the aim of delivering absolute (more than zero) returns on a 12 month basis in any market conditions. An absolute return is not guaranteed and the fund may experience periods of negative return. The fund will seek to achieve this investment objective by taking long positions and using derivatives to take synthetic long and synthetic short investment positions. The fund primarily aims to gain investment exposure to equities and equity related securities of, or giving exposure to companies incorporated or listed in the uk. In order to gain this exposure, the fund invests primarily in derivatives, equities and equity related securities and when determined appropriate cash and near cash. The fund may also invest in other transferable securities, permitted money market instruments, permitted deposits and units in collective investment schemes.
Benchmark
  • LIBOR 3 Month (GBP)
Investment style
Absolute Return
Investment method
Shares
Quick stats
1 Year return
0.8%
1 Year rank in sector
410/510
Sector
PN Specialist
Yield
-
Fund size
£4m (£2m 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.
25
Bid price
108.2
Offer price
108.2
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Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.4%0.3%0.5%0.8%16.2%15.4%
Sector-1.8%-0.3%7.2%8.4%19.9%43%
Rank within sector42 / 546194 / 544429 / 531410 / 510213 / 386251 / 313
Quartile1st2nd4th4th3rd4th
Calendar performance
 YTD - 20162015201420132012
Fund0.1%7%6%1.9%0.2%
Sector8.9%2%7.2%11%7.7%
Rank within sector425 / 51462 / 450189 / 388289 / 357297 / 318
Quartile4th1st2nd4th4th
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.
4.48
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.
0.26
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.
0.53
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%.
4.97
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.
6.39
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.
-0.09
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.
0.09
Price movement
52 week high108.7
52 week low103.5
Current bid price108.2
Current offer price108.2
Current mid price-
Region
1UK100%
Industry sector
1Consumer Services15.47%
2Financials13.65%
3Industrials5.29%
4Health Care4.26%
5Telecommunications3.41%
6Oil & Gas2.93%
7Consumer Goods2.7%
8Utilities-0.15%
9Technology-0.33%
Asset type
No data available.
Individual holdings
1RELX PLC6.03%
2CARNIVAL CORP3.77%
3BRITISH AMERICAN TOBACCO3.75%
4LLOYDS BANKING GROUP PLC3.16%
5SHIRE PLC2.97%
6ROYAL DUTCH SHELL2.95%
73I GROUP2.51%
8BETTER CAPITAL2.31%
9INTERTEK GROUP2.23%
Management
Fund manager group
Scottish Widows
Fund manager company
Scottish Widows Limited
Fund type
Pension Fund
Fund objective
BlackRock describe their funds aim as follows: to achieve a positive absolute return for investors and, as such the fund will not be managed against any UK equity index. The fund will be managed with the aim of delivering absolute (more than zero) returns on a 12 month basis in any market conditions. An absolute return is not guaranteed and the fund may experience periods of negative return. The fund will seek to achieve this investment objective by taking long positions and using derivatives to take synthetic long and synthetic short investment positions. The fund primarily aims to gain investment exposure to equities and equity related securities of, or giving exposure to companies incorporated or listed in the uk. In order to gain this exposure, the fund invests primarily in derivatives, equities and equity related securities and when determined appropriate cash and near cash. The fund may also invest in other transferable securities, permitted money market instruments, permitted deposits and units in collective investment schemes.
Benchmark
  • LIBOR 3 Month (GBP)
Investment style
Absolute Return
Investment method
Shares
Fund managers
NameSinceBiography
Nick Osborne17/01/2008Nick Osborne, CFA, Director and portfolio manager, is a member of the UK Equity team in the Fundamental Equity division of BlackRock's Portfolio Management Group. He co-manages the UK Absolute Alpha Fund and is responsible for managing UK equity portfolios for institutional and retail investors and also covers the Utilities and Telecommunications sectors.Mr Osborne's service with the firm dates back to 1999, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. He began his career with MLIM in 1999 as an investment analyst on the UK and Emerging Market teams.Mr. Osborne earned a BSc in Economics from Bristol University in 1999.
Nigel Ridge28/03/2013Nigel Ridge is a member of the UK Equity Team and a member of the UK and Pan European Model Portfolio Team in London. He joined us in 1994 after six years at Schroder Investment Management. Nigel has a BSc from Loughborough University.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
SW BlackRock Absolute Alpha Pension Series 1
Initial charge-
Annual charge0.88%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.81%
Total expense ratio (TER)1.81%
Bid price103.6
Offer price109
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeM5X6
SW BlackRock Absolute Alpha Pension Series 2
Initial charge-
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.93%
Total expense ratio (TER)1.93%
Bid price108.2
Offer price108.2
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeM5X7
SW BlackRock Absolute Alpha Pension Series 4
Initial charge-
Annual charge0.95%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.13%
Total expense ratio (TER)1.13%
Bid price113.5
Offer price113.5
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeM5X8
Data provided by

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