Fact sheet: NN (L) Gl HYd

Fund information

Fund name
NN (L) Global High Yield X Cap USD EUR
Fund company manager
NN Investment Partners (LUX)
Fund type
SIB
Fund manager
Hans Stoter
since 01/05/2007
Fund objective
The fund primarily invests in a diversified portfolio of worldwide corporate bonds with a higher risk and therefore with a higher interest rate (so called high yield bonds, with a quality rating lower than BBB). Measured over a period of several years we aim to beat the performance of the benchmark 70% Bloomberg Barclays US High Yield, 30% Bloomberg Barclays Pan-European High Yield, 2% issuers capped ex financial subordinates. We combine our analysis on specific issuers of corporate bonds with a broader market analysis to construct the optimal portfolio. We aim to exploit differences in returns of these issuers within sectors and differences in returns between regions, sectors and different quality segments (ratings). The differences in high yield returns within a sector can be significant; we therefore believe that a strong focus on issuer selection and issuer diversification needs to be a crucial part of the high yield investment process. You can sell your participation in this fund on each (working) day on which the value of the units is calculated, which for this fund occurs daily. The fund does not aim to provide you with a dividend. It will reinvest all earnings.
Benchmark
-
Investment style
High Yield
Investment method
Fixed Interest

Quick stats

1 Year return

1.75 %

1 Year rank in sector

71/77

Sector

FO Fixed Int - Global High Yield

Yield
-
Fund size

£ 3.1 b

FE Risk score

79

NAV
-
Discount/Premium
-
Gearing
-

Top in sector

Holdings snapshot

  • USA
    64.38%
  • Luxembourg
    4.73%
  • Germany
    4.19%
  • Italy
    3.87%
  • France
    3.11%
  • Communications
    21.75%
  • Cyclical Consumer Goods
    14.34%
  • Capital Goods
    11.04%
  • Basic Industries
    9.77%
  • Non-Cyclical Consumer Goods
    9.38%
  • US Fixed Interest
    64.38%
  • Luxembourg Fixed Interest
    4.73%
  • German Fixed Interest
    4.19%
  • Italian Fixed Interest
    3.87%
  • French Fixed Interest
    3.11%

Performance vs. Sector

Cumulative performance

1m6m1y3y5y
Fund-0.16 %-4.68 %1.75 %13.08 %29.13 %
Sector0.45 %2.97 %7.08 %10.95 %24.53 %
Rank within sector83 / 9282 / 8871 / 7723 / 6312 / 46
Quartile th4 th4 th4 th2 nd2 nd

Calendar performance

YTD-20172016201520142013
Fund-5.12 %17.86 %0.59 %9.22 %2.76 %
Sector4.54 %11.43 %-2.49 %1.36 %5.18 %
Rank within sector78 / 824 / 7115 / 664 / 5743 / 48
Quartile th4 th1 st1 st1 st4 th

Risk statistics

Alpha1.76
Beta0.92
Sharpe0.13
Volatility7.74
Tracking error6.43
Information ratio0.2
R-Squared0.31

Price movement

52 week high338.64
52 week low309.38
Current bid price0
Current offer price0
Current mid price314.47

Holdings by region

  • 64.38% USA
  • 4.73% Luxembourg
  • 4.19% Germany
  • 3.87% Italy
  • 3.11% France
  • 3.11% UK
  • 2.81% Money Market
  • 2.75% Netherlands
  • 2% Canada
  • 1.37% China

Holdings by sector

  • 21.75% Communications
  • 14.34% Cyclical Consumer Goods
  • 11.04% Capital Goods
  • 9.77% Basic Industries
  • 9.38% Non-Cyclical Consumer Goods
  • 8.9% Others
  • 8.81% Energy
  • 5.75% Technology
  • 3.61% Money Market
  • 3.47% Mutual Funds

Holdings by asset type

  • 64.38% US Fixed Interest
  • 4.73% Luxembourg Fixed Interest
  • 4.19% German Fixed Interest
  • 3.87% Italian Fixed Interest
  • 3.11% French Fixed Interest
  • 3.11% UK Fixed Interest
  • 2.81% Money Market
  • 2.75% Dutch Fixed Interest
  • 2% Canadian Fixed Interest
  • 1.37% Chinese Fixed Interest

Individual holdings

  • 1.64% WIND ACQUISITION FINANCE SA 4% BDS 15/07/20 EUR100000
  • 1.54% ALTICE SA 7.25% BDS 15/05/22 EUR100000
  • 1.2% ARCELORMITTAL SA 6.25% BDS 25/02/22 USD1000
  • 1.19% 5.375% SFR GROUP SA 05/15/2022
  • 1.01% 2.750% ZF NA CAPITAL 04/27/2023
  • 0.94% ZIGGO FINANCE BV 3.75% BDS 15/01/25 EUR100000144A
  • 0.9% HCA INC 5.25% BDS 15/04/25 USD2000
  • 0.85% 5.125% TENET HEALTHCARE CORP 05/01/2025
  • 0.74% 3.250% QUINTILES IMS INC 03/15/2025
  • 0.74% SPRINT CORP 7.875% BDS 15/09/23 USD2000