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
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

3.45 %

1 Year rank in sector

7/58

Sector

FO Fixed Int - EUR Corporate Bond

Yield
-
Fund size

£ 1.2 b

FE Risk score

79

NAV
-
Discount/Premium
-
Gearing
-

Top in sector

Holdings snapshot

  • USA
    25.84%
  • France
    15%
  • UK
    14.51%
  • Germany
    9.29%
  • Spain
    5.65%
  • Telecommunications
    12.19%
  • Services
    11.66%
  • Capital Goods
    10.96%
  • Utilities
    10.8%
  • Basic Industries
    10.1%
  • US Fixed Interest
    25.84%
  • French Fixed Interest
    15%
  • UK Fixed Interest
    14.51%
  • German Fixed Interest
    9.29%
  • Spanish Fixed Interest
    5.65%

Performance vs. Sector

Cumulative performance

1m6m1y3y5y
Fund0.18 %2.26 %3.45 %9.49 %23.6 %
Sector-0.16 %2.24 %1.5 %7.11 %19.4 %
Rank within sector5 / 6022 / 587 / 587 / 5511 / 47
Quartile th1 st2 nd1 st1 st1 st

Calendar performance

YTD-20172016201520142013
Fund2.86 %5.25 %0.3 %5.08 %5.27 %
Sector2.2 %4.74 %-1.02 %6.9 %2.24 %
Rank within sector10 / 5811 / 575 / 5647 / 526 / 49
Quartile th1 st1 st1 st4 th1 st

Risk statistics

Alpha0.69
Beta1
Sharpe-0
Volatility3.45
Tracking error1.66
Information ratio0.4
R-Squared0.77

Price movement

52 week high128.37
52 week low122.83
Current bid price0
Current offer price0
Current mid price128.2

Holdings by region

  • 25.84% USA
  • 15% France
  • 14.51% UK
  • 9.29% Germany
  • 5.65% Spain
  • 5.23% Netherlands
  • 3.76% Ireland
  • 3.52% Italy
  • 3.46% Luxembourg
  • 3.12% Money Market

Holdings by sector

  • 12.19% Telecommunications
  • 11.66% Services
  • 10.96% Capital Goods
  • 10.8% Utilities
  • 10.1% Basic Industries
  • 9.13% Health Care
  • 8.23% Media
  • 7.44% Automotive
  • 4.05% Leisure
  • 3.47% Financial Services

Holdings by asset type

  • 25.84% US Fixed Interest
  • 15% French Fixed Interest
  • 14.51% UK Fixed Interest
  • 9.29% German Fixed Interest
  • 5.65% Spanish Fixed Interest
  • 5.23% Dutch Fixed Interest
  • 3.76% Irish Fixed Interest
  • 3.52% Italian Fixed Interest
  • 3.46% Luxembourg Fixed Interest
  • 3.12% Money Market

Individual holdings

  • 2.35% VOLKSWAGEN INTERNATIONAL FINANCE NV 3.875% UNDATED BDS EUR100000
  • 2.31% INTERNATIONAL GAME TECHNOLOG 4.75% 15-02-2023
  • 2.17% GRIFOLS SA 3.2% BDS 01/05/25 EUR100000
  • 1.93% VATTENFALL AB 3% SUB NON CL SECS 19/03/77 EUR100000
  • 1.82% LA FINANCIERE ATALIAN SAS 4% BDS 15/05/24 EUR100000
  • 1.8% EDF 4.25% PERP BDS EUR100000
  • 1.79% VIRGIN MEDIA SECURED FINANCE PLC 5% NTS 15/04/27 GBP100000
  • 1.78% ENERGIAS DE PORTUGAL SA 5.375% BDS 16/09/75 EUR100000
  • 1.78% LEVI STRAUSS & CO 3.375% BDS 15/03/27 EUR1000
  • 1.78% SNAM SPA 0.875% BDS 25/10/26 EUR100000