Fact sheet: Scot Wid Abs Return Macro Pn

Fund information
Fund name
Scottish Widows Absolute Return Macro Pn S2
Fund manager company
Scottish Widows Limited
Fund type
Pension Fund
Fund managers
  • Takashi Saitosince 29/06/2008
  • Ken Adamssince 24/05/2006
No data available.
Fund objective
The Fund aims to achieve a positive return, over the long term. The Fund’s holdings will vary over time to reflect the current market view of the fund manager. They may consist of exposure to equities, fixed interest securities, money market instruments, cash, near cash, deposits, and index linked securities. The exposure may be achieved either directly or through permitted derivative contracts (including futures, options, swaps, forward currency contracts, contracts for difference and other derivatives) and techniques may be used to vary the total exposure to global markets and express views on the direction of currencies, interest rates, sectors and/or individual securities in order to enhance return, limit downside volatility and/or preserve capital. The Fund will also gain indirect exposure to alternative asset classes (such as property, private equity, hedge funds, and permitted commodities) through investment in shares of funds, companies and other vehicles which invest in such assets. In certain market conditions all, or a substantial proportion of, the physical assets of the Fund may at any time consist of fixed interest securities, cash, near cash, deposits and/or money market instruments depending on the views of the fund manager. The Fund may also invest in other transferable securities, other derivatives and forward contracts. Use may also be made of stocklending, borrowing, hedging and other permitted techniques. As well as holding assets that may rise or fall with market value (‘long’ position), it may also hold positions that will rise as the market value falls and fall as the market value rises (‘short’ position).
Benchmark
  • No Specified Index
Investment style
Absolute Return
Investment method
No data available.
Quick stats
1 Year return
-1.5%
1 Year rank in sector
453/510
Sector
PN Specialist
Yield
-
Fund size
£0m (£0m 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.
4
Bid price
77.8
Offer price
77.8
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Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.1%-0.4%-0.8%-1.5%-4.2%-5.1%
Sector-1.8%-0.3%7.2%8.4%19.9%43%
Rank within sector101 / 546275 / 544471 / 531453 / 510370 / 386301 / 313
Quartile1st3rd4th4th4th4th
Calendar performance
 YTD - 20162015201420132012
Fund-1.4%-1.4%-1.8%1%-0.6%
Sector8.9%2%7.2%11%7.7%
Rank within sector462 / 514382 / 450377 / 388298 / 357313 / 318
Quartile4th4th4th4th4th
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.
-1.4
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.
0.02
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%.
0.53
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.
5.74
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.
-1.31
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.
0.03
Price movement
52 week high79
52 week low77.8
Current bid price77.8
Current offer price77.8
Current mid price-
Region
No data available.
Industry sector
No data available.
Asset type
No data available.
Individual holdings
No data available.
Management
Fund manager group
Scottish Widows
Fund manager company
Scottish Widows Limited
Fund type
Pension Fund
Fund objective
The Fund aims to achieve a positive return, over the long term. The Fund’s holdings will vary over time to reflect the current market view of the fund manager. They may consist of exposure to equities, fixed interest securities, money market instruments, cash, near cash, deposits, and index linked securities. The exposure may be achieved either directly or through permitted derivative contracts (including futures, options, swaps, forward currency contracts, contracts for difference and other derivatives) and techniques may be used to vary the total exposure to global markets and express views on the direction of currencies, interest rates, sectors and/or individual securities in order to enhance return, limit downside volatility and/or preserve capital. The Fund will also gain indirect exposure to alternative asset classes (such as property, private equity, hedge funds, and permitted commodities) through investment in shares of funds, companies and other vehicles which invest in such assets. In certain market conditions all, or a substantial proportion of, the physical assets of the Fund may at any time consist of fixed interest securities, cash, near cash, deposits and/or money market instruments depending on the views of the fund manager. The Fund may also invest in other transferable securities, other derivatives and forward contracts. Use may also be made of stocklending, borrowing, hedging and other permitted techniques. As well as holding assets that may rise or fall with market value (‘long’ position), it may also hold positions that will rise as the market value falls and fall as the market value rises (‘short’ position).
Benchmark
  • No Specified Index
Investment style
Absolute Return
Investment method
No data available.
Fund managers
NameSinceBiography
Takashi Saito29/06/2008Takashi has 18 years of fund management experience, originally at Nikko Securities Investment Trust & Management and Nikko Global Asset Management and more recently at Ferox Capital where he ran a $10 million long-short equity book focusing on European equities.Takashi joins SWIP from Aesop Capital UK where he was a Principal, responsible for managing equity portfolios using long-short and active hedging techniques.
Ken Adams24/05/2006Ken is head of global strategy, having previously been an investment director in the global strategy team and top-down strategy research manager. As chairman of SWIP's Policy Group, he is responsible for driving asset allocation strategy on multi-asset portfolios, and is lead manager of a number of macro absolute return funds. He is also in charge of SWIP's top-down research effort. Ken also co-manages SWIP’s Diversified Assets Fund. Ken has been with the group since 1987. For the first two years of his career he worked in the fixed interest team. He was then seconded to the London office of Dai-Ichi Kangyo Asset Management (DKA), the Japanese investment company, where for two years he led a team managing multi-asset absolute return portfolios. Ken spent the following seven years in its Tokyo office in a similar role, and in 1996 he was appointed client director in charge of the group's joint venture with DKA. On his return to Britain in 1999, Ken joined the global strategy team as an investment director and member of the global equity portfolio construction team. Ken holds a BSc in Zoology and Botany from Bristol University.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
Scottish Widows Absolute Return Macro Pn S1
Initial charge-
Annual charge1.38%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.66%
Total expense ratio (TER)1.38%
Bid price74.9
Offer price78.8
Mid price-
CurrencyGBX
Price updated01/12/2016
Type-
Institutional or retail classRetail
Domicile-
Citi codeER26
Scottish Widows Absolute Return Macro Pn S2
Initial charge-
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.78%
Total expense ratio (TER)1.5%
Bid price77.8
Offer price77.8
Mid price-
CurrencyGBX
Price updated01/12/2016
Type-
Institutional or retail classRetail
Domicile-
Citi codeER27
Scottish Widows Absolute Return Macro Pn S4 IP
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.78%
Total expense ratio (TER)0.5%
Bid price85.8
Offer price85.8
Mid price-
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE568
Data provided by

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