Fact sheet: Sparinvest Corpt Value Bonds

Fund information
Fund name
Sparinvest Corporate Value Bonds EUR R
Fund manager company
Sparinvest (LUX)
Fund type
Offshore Fund
Fund manager
  • Team Managedsince 01/05/2011
Fund objective
The Sub-Fund aims at providing a positive return over the long term by investing in high yield corporate bonds. The Sub-Fund invests at least 2/3 of its total net assets in high yield corporate bonds listed on an exchange and/or traded on a Regulated Market within OECD countries, EU Member States, Singapore or Hong Kong. The high yield corporate bonds are to be rated less than Baa3/BBB- by Moody’s, Standard & Poor’s or Fitch. The Sub-Fund applies an ethical screening done by ISS-Ethix Consultants that identifies the companies that do not fulfill an ethical framework, and they are excluded. Companies with controversial activities, such as production of combat equipment, alcohol, gambling, tobacco and pornography do not qualify for investment..
Benchmark
  • ML Global High Yd
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
-1%
1 Year rank in sector
73/74
Sector
FO Fixed Int - Global High Yield
Yield
0.2%
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.
1.58%
Fund size
£144m (£237m 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.
85
Top in this sector
Fund name1 Year
Franklin GblCorpHiYd33.2%
Pioneer SICV-Gbl Hi Yld30.6%
Natixis LoomsSyles HInc19.9%
T. Rowe Price GblHghIncBd12.6%
Nomura Gbl Hgh Yld Bd11.7%
...more in FO Fixed Int - Global High Yield

Performance snapshot

Holdings snapshot

  • USA60.1%
    Others10%
    UK7.4%
    Brazil6%
    Canada3.1%
  • Consumer Discretionary18%
    Health Care12.9%
    Energy11.6%
    Information Technology10.8%
    Materials10.6%
  • US Fixed Interest60.1%
    Global Fixed Interest10%
    UK Fixed Interest7.4%
    Brazilian Fixed Interest6%
    Canadian Fixed Interest3.1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.7%1.1%3.2%-1%-1.7%27.8%
Sector-0.7%0.3%4.9%7.7%9.1%34%
Rank within sector48 / 8413 / 8157 / 7773 / 7457 / 5931 / 43
Quartile3rd1st3rd4th4th3rd
Calendar performance
 YTD - 20162015201420132012
Fund2.8%-8.1%3.9%2.8%23.4%
Sector9.7%-2.5%1.4%5.2%15.5%
Rank within sector73 / 7561 / 6614 / 5942 / 491 / 43
Quartile4th4th1st4th1st
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.
-3.2
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.
0.99
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%.
6.34
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.
4.36
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.
-0.76
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.
0.53
Price movement
52 week high122.82
52 week low109.49
Current bid price-
Current offer price-
Current mid price120.19
Region
1USA60.13%
2Others10.01%
3UK7.39%
4Brazil6.03%
5Canada3.14%
6Money Market3%
7Netherlands2.58%
8Norway1.84%
9France1.58%
Industry sector
1Consumer Discretionary18.03%
2Health Care12.89%
3Energy11.55%
4Information Technology10.76%
5Materials10.61%
6Financials9.23%
7Industrials8.23%
8Telecommunications6.78%
9Consumer Staples5.07%
Asset type
1US Fixed Interest60.13%
2Global Fixed Interest10.01%
3UK Fixed Interest7.39%
4Brazilian Fixed Interest6.03%
5Canadian Fixed Interest3.14%
6Money Market3%
7Dutch Fixed Interest2.58%
8Norwegian Fixed Interest1.84%
9French Fixed Interest1.58%
Individual holdings
1HCA INC 5.875% BDS 01/05/23 USD20001.85%
2MPT OPERATING PTNRSHP/MPT FIN CORP 6.375% BDS 15/02/22 USD10001.67%
3COMPASS MINERALS INTERNATIONAL INC 4.875% BDS 15/07/24 USD1000 144A1.49%
4RACKSPACE HOSTING INC 6.5% BDS 15/01/24 USD20001.41%
5MICRON TECHNOLOGY INC 5.25% BDS 01/08/23 USD20001.27%
6IHEARTCOMMUNICATIO 9% 03/01/211.24%
7PETROBRAS GLOBAL FINANCE BV 4.75 01/14/20251.2%
8BRASKEM FINANCE LTD 5.75% NTS 15/04/21 USD1000 144A1.19%
95,25% HOLOGIC INC 20221.17%
Management
Fund manager group
Sparinvest
Fund manager company
Sparinvest (LUX)
Fund type
Offshore Fund
Fund objective
The Sub-Fund aims at providing a positive return over the long term by investing in high yield corporate bonds. The Sub-Fund invests at least 2/3 of its total net assets in high yield corporate bonds listed on an exchange and/or traded on a Regulated Market within OECD countries, EU Member States, Singapore or Hong Kong. The high yield corporate bonds are to be rated less than Baa3/BBB- by Moody’s, Standard & Poor’s or Fitch. The Sub-Fund applies an ethical screening done by ISS-Ethix Consultants that identifies the companies that do not fulfill an ethical framework, and they are excluded. Companies with controversial activities, such as production of combat equipment, alcohol, gambling, tobacco and pornography do not qualify for investment..
Benchmark
  • ML Global High Yd
Investment style
High Yield
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Team Managed01/05/2011At TOBAM, all portfolios are team-managed by the Portfolio Management and Research team. TOBAM’s portfolio management activities have always been based in Paris and led by the same team since the firm’s inception in 2006, which has grown overtime and currently includes 14 experienced professionals.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Switzerland, Germany, Denmark, Finland, France, Faroe Islands, United Kingdom, Greenland, Luxembourg, Netherlands, Norway, Offshore, Sweden
Sparinvest Corporate Value Bonds CHF R
Initial charge2%
Annual charge1.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.58%
Total expense ratio (TER)1.58%
Bid price-
Offer price-
Mid price130.54
CurrencyCHF
Price updated30/11/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE08M
Sparinvest Corporate Value Bonds DKK R
Initial charge2%
Annual charge1.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.65%
Total expense ratio (TER)1.65%
Bid price-
Offer price-
Mid price892.89
CurrencyDKK
Price updated30/11/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE08N
Sparinvest Corporate Value Bonds EUR I
Initial charge-
Annual charge0.65%
Min single investment£5,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.92%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price123.78
CurrencyEUR
Price updated30/11/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeNML3
Sparinvest Corporate Value Bonds EUR ID
Initial charge-
Annual charge0.65%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.98%
Total expense ratio (TER)0.98%
Bid price-
Offer price-
Mid price114.45
CurrencyEUR
Price updated30/11/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE08L
Sparinvest Corporate Value Bonds EUR R
Initial charge2%
Annual charge1.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.58%
Total expense ratio (TER)1.58%
Bid price-
Offer price-
Mid price120.19
CurrencyEUR
Price updated30/11/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNML4
Sparinvest Corporate Value Bonds EUR RD
Initial charge2%
Annual charge1.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.62%
Total expense ratio (TER)1.62%
Bid price-
Offer price-
Mid price111.44
CurrencyEUR
Price updated30/11/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE08J
Sparinvest Corporate Value Bonds EUR RX
Initial charge2%
Annual charge0.63%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1%
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price121.09
CurrencyEUR
Price updated30/11/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE08K
Sparinvest Corporate Value Bonds SEK ID
Initial charge-
Annual charge0.65%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.97%
Total expense ratio (TER)0.97%
Bid price-
Offer price-
Mid price1079.55
CurrencySEK
Price updated30/11/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE08Q
Sparinvest Corporate Value Bonds SEK R
Initial charge2%
Annual charge1.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.59%
Total expense ratio (TER)1.59%
Bid price-
Offer price-
Mid price1051.95
CurrencySEK
Price updated30/11/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF2XI
Sparinvest Corporate Value Bonds SEK RD
Initial charge2%
Annual charge1.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.6%
Total expense ratio (TER)1.6%
Bid price-
Offer price-
Mid price1049.62
CurrencySEK
Price updated30/11/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE08O
Data provided by

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