Fact sheet: Zurich M&GGt&FIInc Pn

Fund information
Fund name
Zurich M&G Gilt & Fixed Interest Income Pn 3/4 AP Cap
Fund manager company
Zurich Assurance Ltd
Fund type
Pension Fund
Fund managers
  • Jim Leavisssince 29/04/1998
  • Matthew Russellsince 30/06/2015
Underlying fund
M&G Gilt & Fixed Int Inc
Fund objective
The fund aims to deliver income with stability of capital consistent with investment in gilts over rolling periods of three to five years. There is no guarantee that the fund will achieve its objective over this, or any other, period. The level of income may vary over time. Up to 20% of the fund can be invested in corporate bonds guaranteed by the government. Exposure to these assets is gained through physical holdings and the use of derivatives. The fund invests in UK government bonds (gilts) of all maturities, based on the manager’s view of the likely course of the UK economy and monetary policy.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
1.5%
1 Year rank in sector
169/178
Sector
PN UK Gilts
Yield
-
Fund size
£4m (£4m 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.
48
Bid price
499.7
Offer price
526
Top in this sector
Fund name1 Year
SSgA MPF Idx Lk Gilts >5yrs Net Pn19.4%
Fidelity Annuity Pn11.3%
Stan Life VanUK Long DurGtIdx Pn11.2%
AEGON UK Long Gilt Pn11%
FL HendersonInst Lg Dtd Gt EP10.6%
...more in PN UK Gilts

Performance snapshot

Holdings snapshot

  • UK89.5%
    USA4.4%
    International2.7%
    Money Market1.2%
    Finland1.1%
  • Government Bonds90.1%
    Government Guaranteed3.4%
    Fixed Interest2.7%
    Services2%
    Money Market1.2%
  • UK Gilts84.6%
    UK Corporate Fixed Interest4.9%
    Global Index Linked4.4%
    Global Corporate Fixed Interest2.7%
    Money Market1.2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.1%-4.3%-5.3%1.5%6.5%-3.7%
Sector-0.6%-3.3%-3.3%5.2%20.4%19.4%
Rank within sector167 / 179162 / 179168 / 178169 / 178164 / 170153 / 158
Quartile4th4th4th4th4th4th
Calendar performance
 YTD - 20172016201520142013
Fund-2.1%5.5%-3.8%7.5%-7.6%
Sector-2%9.9%-0.3%13.3%-4.8%
Rank within sector139 / 178169 / 178169 / 175162 / 170158 / 165
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.
-4.09
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.
0.98
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%.
7.21
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.
1.14
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.
-3.66
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.
0.97
Price movement
52 week high551.5
52 week low491.8
Current bid price499.7
Current offer price526
Current mid price-
Region
1UK89.51%
2USA4.43%
3International2.66%
4Money Market1.25%
5Finland1.09%
6Germany1.07%
Industry sector
1Government Bonds90.09%
2Government Guaranteed3.42%
3Fixed Interest2.66%
4Services2.05%
5Money Market1.25%
6Asset/Mortgage-Backed Securities0.54%
Asset type
1UK Gilts84.57%
2UK Corporate Fixed Interest4.93%
3Global Index Linked4.43%
4Global Corporate Fixed Interest2.66%
5Money Market1.25%
6Finnish Government Fixed Interest1.09%
7German Corporate Fixed Interest1.07%
Individual holdings
1TREASURY 4.5% GILT 7/9/2034 GBP0.0111.23%
2TREASURY 6% GILT 202810.22%
3TREASURY 5% GILT 20259.38%
4TREASURY 1.5% TREASURY GILT 22/07/47 GBP17.48%
5TREASURY 1.75% GILT 22/07/19 GBP0.016.46%
6TREASURY 4.25% GILT 7/9/39 GBP0.016.05%
7TREASURY 4.75% GILT 20205.74%
8TREASURY 1% GILT 07/09/17 GBP0.015.6%
9TREASURY 3.25% GILT 22/01/44 GBP0.015%
Management
Fund manager group
Zurich
Fund manager company
Zurich Assurance Ltd
Fund type
Pension Fund
Fund objective
The fund aims to deliver income with stability of capital consistent with investment in gilts over rolling periods of three to five years. There is no guarantee that the fund will achieve its objective over this, or any other, period. The level of income may vary over time. Up to 20% of the fund can be invested in corporate bonds guaranteed by the government. Exposure to these assets is gained through physical holdings and the use of derivatives. The fund invests in UK government bonds (gilts) of all maturities, based on the manager’s view of the likely course of the UK economy and monetary policy.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Jim Leaviss29/04/1998Jim Leaviss is Head of Retail Fixed Interest for M&G’s mutual fund range. He joined M&G in 1997 after five years at the Bank of England. As well as heading up the team, Jim is the fund manager of the M&G Global Macro Bond Fund and the M&G European Inflation Linked Corporate Bond Fund. He is also deputy manager of the M&G Gilt & Fixed Interest Income Fund, the M&G Index-Linked Bond Fund and the M&G UK Inflation Linked Corporate Bond Fund.
Matthew Russell30/06/2015Matthew Russell joined M&G in 2007 and was appointed fund manager of the M&G Short Dated Corporate Bond Fund in September 2013, having served as deputy fund manager since 2011. He was also appointed fund manager of the M&G Gilt & Fixed Interest Income Fund in July 2015. Matthew joined M&G as a fund managers’ assistant covering the retail fixed interest fund range. He has a BSc in economics from the University of Birmingham and is also a CFA charterholder.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
Zurich M&G Gilt & Fixed Interest Income Pn 1% AP Acc
Initial charge-
Annual charge1.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.76%
Bid price618.4
Offer price651
Mid price-
CurrencyGBX
Price updated23/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeK9B6
Zurich M&G Gilt & Fixed Interest Income Pn 3/4 AP
Initial charge-
Annual charge0.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.76%
Bid price-
Offer price-
Mid price732
CurrencyGBX
Price updated23/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGVR6
Zurich M&G Gilt & Fixed Interest Income Pn 3/4 AP Acc
Initial charge-
Annual charge1.35%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.51%
Bid price627
Offer price660.1
Mid price-
CurrencyGBX
Price updated23/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeK9B7
Zurich M&G Gilt & Fixed Interest Income Pn 3/4 AP Cap
Initial charge-
Annual charge4.85%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)5.01%
Bid price499.7
Offer price526
Mid price-
CurrencyGBX
Price updated23/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeK9B8
Zurich M&G Gilt & Fixed Interest Income Pn Inet
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price659.3
Offer price659.3
Mid price-
CurrencyGBX
Price updated23/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeENO5
Zurich M&G Gilt & Fixed Interest Income Pn ZP
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.66%
Bid price-
Offer price-
Mid price715.8
CurrencyGBX
Price updated23/01/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeENL6
Data provided by

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