Fact sheet: Schroder UK Corporate Bond

Fund information
Fund name
Schroder UK Corporate Bond Z Acc
Fund manager company
Schroder UT Managers
Fund type
OEIC
Fund managers
  • Alix Stewartsince 05/06/2008
  • Teamsince 05/06/2008
Fund objective
The fund's investment objective is to provide a total return. At least 80% of the fund will be invested in bonds issued by UK companies or bonds that have been hedged back to Sterling. The central appeal of the corporate bond market is that bonds in this sector generally offer higher interest payments than those available on government bonds, creating the potential for higher returns over the longer term. Corporate bonds also tend to be less volatile than shares of companies. Investments in bonds issued in a foreign currency will be hedged to reduce the effects of exchange rate fluctuations between that currency and the fund's base currency, pounds sterling. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives may be used to achieve the investment objective and to reduce risk or manage the fund more efficiently. The fund may use leverage and take indirect short positions.
Benchmark
  • Bank of America Merrill Lynch Sterling Corporate & Collateralised
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
7.5%
1 Year rank in sector
13/91
Sector
UT Sterling Corporate Bond
Yield
4.7%
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.
0.63%
Fund size
£243m (£244m 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.
41
Mid price
136.8
Top in this sector
Fund name1 Year
Schroder Long Dated Corp Bond11.8%
F&C Instl Lg Dtd Corp Bd10.8%
Henderson Inst Long Dat Cr10.6%
Newton Long Corporate Bond10.4%
Blackrock InstBdOver10YrCorp9.8%
...more in UT Sterling Corporate Bond

Performance snapshot

Holdings snapshot

  • UK61.3%
    USA8.5%
    France7.6%
    Italy4.6%
    Germany4%
  • Financials28.4%
    Industrials25.9%
    Mortgage & Secured Bonds20.2%
    Utilities19.3%
    Money Market3.2%
  • UK Fixed Interest61.3%
    US Fixed Interest8.5%
    French Fixed Interest7.6%
    Italian Fixed Interest4.6%
    German Fixed Interest4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-2.1%-6.4%3.4%7.5%17%38.2%
Sector-1.4%-5%2.9%5.9%16.4%35.1%
Rank within sector83 / 9781 / 9424 / 9413 / 9144 / 8637 / 71
Quartile4th4th2nd1st3rd3rd
Calendar performance
 YTD - 20162015201420132012
Fund8.4%-1%10%1.6%12.3%
Sector6.9%-0.3%10.1%0.2%12.1%
Rank within sector14 / 9274 / 9048 / 8723 / 7846 / 71
Quartile1st4th3rd2nd3rd
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.
-0.31
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.
1.17
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.
0.37
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%.
6.24
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.
1.19
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.
0.44
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.
0.98
Price movement
52 week high147.4
52 week low125.1
Current bid price-
Current offer price-
Current mid price136.8
Region
1UK61.25%
2USA8.53%
3France7.61%
4Italy4.62%
5Germany4.03%
6Money Market3.21%
7Netherlands2.63%
8Denmark1.67%
9Spain1.07%
Industry sector
1Financials28.44%
2Industrials25.85%
3Mortgage & Secured Bonds20.24%
4Utilities19.35%
5Money Market3.21%
6Government Agency Bonds2.56%
7Government Bonds0.18%
8Derivatives0.16%
Asset type
1UK Fixed Interest61.25%
2US Fixed Interest8.53%
3French Fixed Interest7.61%
4Italian Fixed Interest4.62%
5German Fixed Interest4.03%
6Money Market3.21%
7Dutch Fixed Interest2.63%
8Danish Fixed Interest1.67%
9Spanish Fixed Interest1.07%
Individual holdings
1AT&T INC 7% BDS 30/04/40 GBP(VAR)1.89%
2ITALY(REPUBLIC OF) 6% EUR MED TRM NOTES 4/8/2028 GBP10001.79%
3E.ON INTERNATIONAL FINANCE 6.75% MTN 27/01/39 GBP500001.61%
4DIGITAL STOUT HLDGS LLC 4.25% BDS 17/01/25 GBP1000001.45%
5THAMES WATER UTILITIES CAYMAN FIN 5.5% GTD UNWRAP BDS 11/2/41 GBP A1.44%
6NATIONAL GRID GAS FINANCE PLC 2.75% INST 22/09/46 GBP1000001.33%
7ORANGE SA 5.375% BDS 22/11/50 GBP500001.3%
8BANK OF SCOTLAND PLC 7.281% FXD/FLTG PERP GBP1000 SER`B`REG`S1.27%
9EDF 5.5% BDS 17/10/41 GBP1000001.25%
Management
Fund manager group
Schroders
Fund manager company
Schroder UT Managers
Fund type
OEIC
Fund objective
The fund's investment objective is to provide a total return. At least 80% of the fund will be invested in bonds issued by UK companies or bonds that have been hedged back to Sterling. The central appeal of the corporate bond market is that bonds in this sector generally offer higher interest payments than those available on government bonds, creating the potential for higher returns over the longer term. Corporate bonds also tend to be less volatile than shares of companies. Investments in bonds issued in a foreign currency will be hedged to reduce the effects of exchange rate fluctuations between that currency and the fund's base currency, pounds sterling. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives may be used to achieve the investment objective and to reduce risk or manage the fund more efficiently. The fund may use leverage and take indirect short positions.
Benchmark
  • Bank of America Merrill Lynch Sterling Corporate & Collateralised
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Alix Stewart05/06/2008Alix Stewart joined Schroders in 2012 as a Credit Portfolio Manager. Prior to joining Schroders Alix worked for UBS Global Asset Management as Head of UK Fixed Interest and before that as fund manager of Global Corporate Bonds. She graduated from University of Leeds with a BSc (Hons) in Economic and Mathematics. Alix has 20 years’ investment experience.
Team05/06/2008
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom, Ireland
Schroder UK Corporate 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)-
Bid price-
Offer price-
Mid price67.69
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJTBD
Schroder UK Corporate 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)1.1%
Bid price-
Offer price-
Mid price60.56
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKA61
Schroder UK Corporate Bond C Acc
Initial charge-
Annual charge0.75%
Min single investment£25,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)0.88%
Total expense ratio (TER)0.85%
Bid price-
Offer price-
Mid price129.3
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKR15
Schroder UK Corporate Bond C Inc
Initial charge-
Annual charge0.75%
Min single investment£25,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)0.88%
Total expense ratio (TER)0.85%
Bid price-
Offer price-
Mid price59.82
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeC125
Schroder UK Corporate Bond Z Acc
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.63%
Total expense ratio (TER)0.6%
Bid price-
Offer price-
Mid price136.8
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKR27
Schroder UK Corporate Bond Z Inc
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)0.63%
Total expense ratio (TER)0.59%
Bid price-
Offer price-
Mid price115.9
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code11LR
Data provided by

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