Fact sheet: Nordea 1 European Crs Crdt

Fund information

Fund name
Nordea 1 European Cross Credit BP EUR
Fund company manager
Nordea
Fund type
SIB
Fund manager(s)
Jan Sørensen
since 22/02/2012
Fund objective
The fund invests in the universe of high yield and investment grade bonds to take advantage of structural inefficiencies created by rating agencies. More specifically, the fund invests in European corporate bonds (excluding financials) which have, at time of purchase, a long-term rating between BBB+ and B– or equivalent by any other available rating agency such as Moodys and Fitch. The cornerstone of the strategy is to exploit credit spreads/valuation variations between the different rating buckets revealing the best risk/adjusted returns. The fund follows a bottom-up approach which results in a conservative high conviction portfolio being built based on the credits’ solid fundamentals.
Benchmark
No Specified Index
Investment style
None
Investment method
Fixed Interest

Quick stats

1 Year return

3.58 %

1 Year rank in sector

13/65

Sector

FO Fixed Int - EUR Corporate Bond

Yield
-
Fund size

£ 1.3 b

FE Risk score

81

NAV
-
Discount/Premium
-
Gearing
-

Top in sector

Holdings snapshot

  • USA
    26.94%
  • France
    13.64%
  • UK
    13.61%
  • Germany
    10.74%
  • Spain
    5.49%
  • Telecommunications
    12.29%
  • Capital Goods
    11.2%
  • Utilities
    10.62%
  • Health Care
    10.41%
  • Basic Industries
    9.76%
  • US Fixed Interest
    26.94%
  • French Fixed Interest
    13.64%
  • UK Fixed Interest
    13.61%
  • German Fixed Interest
    10.74%
  • Spanish Fixed Interest
    5.49%

Performance vs. Sector

Cumulative performance

1m6m1y3y5y
Fund0.11 %1.92 %3.58 %9.23 %20.56 %
Sector-0.47 %1.55 %2.88 %6.16 %16.47 %
Rank within sector8 / 6812 / 6713 / 659 / 6312 / 52
Quartile th1 st1 st1 st1 st1 st

Calendar performance

YTD-20182017201620152014
Fund0.15 %3.67 %5.25 %0.3 %5.08 %
Sector-0.06 %2.87 %4.74 %-1.02 %6.9 %
Rank within sector7 / 6812 / 6514 / 646 / 6353 / 58
Quartile th1 st1 st1 st1 st4 th

Risk statistics

Alpha0.89
Beta0.99
Sharpe-0
Volatility3.47
Tracking error1.65
Information ratio0.52
R-Squared0.77

Price movement

52 week high130.08
52 week low124.64
Current bid price0
Current offer price0
Current mid price129.41

Holdings by region

  • 26.94% USA
  • 13.64% France
  • 13.61% UK
  • 10.74% Germany
  • 5.49% Spain
  • 5.3% Netherlands
  • 3.71% Ireland
  • 3.33% Italy
  • 2.64% Luxembourg
  • 2.16% Money Market

Holdings by sector

  • 12.29% Telecommunications
  • 11.2% Capital Goods
  • 10.62% Utilities
  • 10.41% Health Care
  • 9.76% Basic Industries
  • 9.73% Services
  • 7.45% Automotive
  • 7.08% Media
  • 5.39% Retail
  • 4.05% Leisure

Holdings by asset type

  • 26.94% US Fixed Interest
  • 13.64% French Fixed Interest
  • 13.61% UK Fixed Interest
  • 10.74% German Fixed Interest
  • 5.49% Spanish Fixed Interest
  • 5.3% Dutch Fixed Interest
  • 3.71% Irish Fixed Interest
  • 3.33% Italian Fixed Interest
  • 2.64% Luxembourg Fixed Interest
  • 2.16% Money Market

Individual holdings

  • 2.28% INTERNATIONAL GAME TECHNOLOG 4.75% 15-02-2023
  • 2.27% VOLKSWAGEN INTERNATIONAL FINANCE NV 3.875% UNDATED BDS EUR100000
  • 1.91% GRIFOLS SA 3.2% BDS 01/05/25 EUR100000
  • 1.91% VATTENFALL AB 3% SUB NON CL SECS 19/03/77 EUR100000
  • 1.9% TESCO PROPERTY FINANCE 2 PLC 6.0517% MTG BDS 13/10/39 GBP1000
  • 1.84% PVH CORP 3.125% BDS 15/12/27 EUR100000
  • 1.83% PINEWOOD FINANCE LTD 3.75% BDS 01/12/23 GBP1000REG S
  • 1.8% SAPPI PAPIER HOLDING GMBH 3.375% 01-04-2022
  • 1.8% TELEFONICA EUROPE BV 4.2% UNDATED 5Y NON CL SUB BDS EUR100000
  • 1.79% DUFRY ONE BV 2.5% BDS 15/10/24 EUR100000