Fact sheet: Schroder Absolute Rtn Bd

Fund information
Fund name
Schroder Absolute Return Bond Z Acc
Fund manager company
Schroder UT Managers
Fund type
Unit Trust
Fund managers
  • Paul Graingersince 21/03/2016
  • Bob Jollysince 30/11/2011
  • Gareth Isaacsince 30/11/2011
Fund objective
The Fund's investment objective is to achieve a positive return over rolling 12 month periods, in all market conditions. The Manager will seek to achieve positive returns in all market conditions, but there is no guarantee that this objective will be achieved and your capital is at risk. To achieve the investment objective, the Fund will invest primarily in a portfolio of bonds and other fixed and floating rate securities denominated in various currencies issued by governments, government agencies, supra-national and corporate issuers worldwide. The full spectrum of available securities, including non-investment grade, may be utilised. In addition foreign currency strategies may also be employed. Investment will be primarily in directly held transferable securities. The Fund may also invest in collective investment schemes, derivatives, cash, deposits, warrants and money market instruments.
Benchmark
  • LIBOR GBP 3 month
Investment style
Absolute Return
Investment method
Fixed Interest
Quick stats
1 Year return
2.3%
1 Year rank in sector
25/72
Sector
UT Targeted Absolute Return
Yield
1.7%
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.
0.73%
Fund size
£102m (£257m 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.
21
Bid price
53.36
Offer price
53.58
Top in this sector
Fund name1 Year
Majedie Tortoise22%
Jupiter Absolute Return11.2%
Threadneedle Tgt Rtn10.2%
CF Ruffer Absolute Return9.9%
Newton Mgd Tgtd Rtn7.8%
...more in UT Targeted Absolute Return

Performance snapshot

Holdings snapshot

  • USA42.1%
    UK10.9%
    Canada7.6%
    Sweden5.9%
    International5.5%
  • Financials34.4%
    Industrials22.6%
    Government Bonds13.5%
    Asset/Mortgage-Backed Securities11.5%
    Fixed Interest5.5%
  • No data available.

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.6%1.6%1.7%2.3%2.5%12.5%
Sector-1%-0.3%0.8%0.1%5.5%15%
Rank within sector33 / 7311 / 7431 / 7225 / 7246 / 5834 / 47
Quartile2nd1st2nd2nd4th3rd
Calendar performance
 YTD - 20162015201420132012
Fund2.3%-3%2.7%1.9%7%
Sector-0%2.2%2.5%6.5%3.3%
Rank within sector24 / 7262 / 6735 / 5847 / 5310 / 47
Quartile2nd4th3rd4th1st
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.
-0.01
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.
0.51
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
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%.
3.14
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.
3.12
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.
-0.41
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.
0.08
Price movement
52 week high53.7
52 week low50.37
Current bid price53.36
Current offer price53.58
Current mid price-
Region
1USA42.08%
2UK10.88%
3Canada7.57%
4Sweden5.94%
5International5.54%
6Belgium4.28%
7Ireland3.23%
8Germany2.68%
9China2.6%
Industry sector
1Financials34.39%
2Industrials22.58%
3Government Bonds13.51%
4Asset/Mortgage-Backed Securities11.46%
5Fixed Interest5.54%
6Government Agency Bonds5.33%
7Mortgage & Secured Bonds3.92%
8Money Market2.72%
9Local Government Bonds1.37%
Asset type
No data available.
Individual holdings
1UNITED STATES OF AMER TREAS BILLS 0.125% BDS 15/07/26 USD10010.15%
2HSBC USA INC 1.7% BDS 05/03/18 USD1000002.68%
3SVENSK EXPORTKREDIT AKTIEBOLAGET 1.25% MTN 12/04/19 USD10002.55%
4ROYAL BANK OF CANADA FRN 13/10/17 USD10002.34%
5AFRICAN DEVELOPMENT BANK 1% MTN 15/05/19 USD10002.22%
6GOLDMAN SACHS GROUP INC FRN 22/05/17 USD20002.22%
7ELEMENT RAIL LEASING II2.14%
8EUROPEAN INVESTMENT BANK 1.25% BDS 16/12/19 USD10002.06%
9BELGIUM(KINGDOM OF) 1.125% MTN 05/03/18 USD10001.99%
Management
Fund manager group
Schroders
Fund manager company
Schroder UT Managers
Fund type
Unit Trust
Fund objective
The Fund's investment objective is to achieve a positive return over rolling 12 month periods, in all market conditions. The Manager will seek to achieve positive returns in all market conditions, but there is no guarantee that this objective will be achieved and your capital is at risk. To achieve the investment objective, the Fund will invest primarily in a portfolio of bonds and other fixed and floating rate securities denominated in various currencies issued by governments, government agencies, supra-national and corporate issuers worldwide. The full spectrum of available securities, including non-investment grade, may be utilised. In addition foreign currency strategies may also be employed. Investment will be primarily in directly held transferable securities. The Fund may also invest in collective investment schemes, derivatives, cash, deposits, warrants and money market instruments.
Benchmark
  • LIBOR GBP 3 month
Investment style
Absolute Return
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Paul Grainger21/03/2016Paul joined Gartmore in 1999 and is responsible for managing our gilt portfolios. His career began with BZW Securities, selling a wide varity of fixed income products. Paul subsequently moved to BGI, where he was responsible for trading and managing their fixed income index funds. Paul graduated from Exeter University in 1995 with a BA in Economics and European Studies. He has passed level II of the CFA examination.
Bob Jolly30/11/2011Bob Jolly is a veteran portfolio manager and head of global macro strategy at Schroders having joined the company in 2011. Previously he worked as head of currency, UK fixed income and global sovereign portfolio management at UBS Global Asset Management. Prior to UBS, Bob spent over two decades at Gartmore Investment Management becoming head of UK, global and structured fixed income portfolio construction.
Gareth Isaac30/11/2011Gareth Isaac, CFA, is Senior Portfolio Manager, Multi Sector. He is Global fixed income fund manager, based in London. Gareth joined Schroders in 2011. In 2009, following their purchase of SGAM, he joined GLG Partners where he was a fixed income fund manager. In 2007, he worked as Senior Fixed Income Fund manager at Societe Generale Asset Management in Paris and in 2004 he became the Fixed Income Fund Manager at Axa Investment Managers. In 1998, he was an Assistant Fund Manager, then Fixed Income Manager at Newton Asset Management. Prior to this, Gareth worked at Manulife Financial and Midland Security Services. He graduated as BSc from the University of Glamorgan and is a member of the United Kingdom Society of Investment Professionals.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Schroder Absolute Return Bond A Acc
Initial charge-
Annual charge1%
Min single investment£1,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)1.13%
Total expense ratio (TER)1.14%
Bid price99.37
Offer price99.76
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeUM63
Schroder Absolute Return Bond A Inc
Initial charge-
Annual charge1%
Min single investment£1,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)1.13%
Total expense ratio (TER)1.14%
Bid price42.09
Offer price42.26
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeUM64
Schroder Absolute Return Bond I Gr Acc
Initial charge0.1%
Annual charge0.6%
Min single investment£25,000,000
Min regular saving£10,000,000
Available in ISANo
Ongoing charge (OCF)0.64%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBX
Price updated01/01/1900
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJQDW
Schroder Absolute Return Bond L Acc
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.63%
Total expense ratio (TER)-
Bid price51.46
Offer price51.67
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJOWF
Schroder Absolute Return Bond L Inc
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)0.63%
Total expense ratio (TER)-
Bid price49.98
Offer price50.18
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJOWG
Schroder Absolute Return Bond Z Acc
Initial charge-
Annual charge0.6%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.73%
Total expense ratio (TER)0.74%
Bid price53.36
Offer price53.58
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNND7
Schroder Absolute Return Bond Z Inc
Initial charge-
Annual charge0.6%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.73%
Total expense ratio (TER)0.74%
Bid price48.8
Offer price48.99
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNND8
Data provided by

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