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

3.38 %

1 Year rank in sector

7/56

Sector

FO Fixed Int - EUR Corporate Bond

Yield
-
Fund size

£ 1.2 b

FE Risk score

76

NAV
-
Discount/Premium
-
Gearing
-

Top in sector

Holdings snapshot

  • USA
    22.26%
  • France
    16.19%
  • UK
    16.01%
  • Germany
    11.36%
  • Spain
    5.55%
  • Capital Goods
    15.75%
  • Services
    11.8%
  • Utilities
    10.57%
  • Telecommunications
    10.32%
  • Health Care
    10.18%
  • US Fixed Interest
    22.26%
  • French Fixed Interest
    16.19%
  • UK Fixed Interest
    16.01%
  • German Fixed Interest
    11.36%
  • Spanish Fixed Interest
    5.55%

Performance vs. Sector

Cumulative performance

1m6m1y3y5y
Fund-0.17 %2.17 %3.35 %9.73 %26.46 %
Sector0.04 %2.17 %1.42 %7.73 %21.86 %
Rank within sector45 / 5820 / 577 / 566 / 559 / 46
Quartile th4 th2 nd1 st1 st1 st

Calendar performance

YTD-20172016201520142013
Fund2.33 %5.25 %0.3 %5.08 %5.27 %
Sector1.81 %4.74 %-1.02 %6.9 %2.24 %
Rank within sector10 / 578 / 565 / 5648 / 526 / 49
Quartile th1 st1 st1 st4 th1 st

Risk statistics

Alpha0.61
Beta1
Sharpe-0
Volatility3.46
Tracking error1.68
Information ratio0.35
R-Squared0.76

Price movement

52 week high127.9
52 week low122.83
Current bid price0
Current offer price0
Current mid price127.55

Holdings by region

  • 22.26% USA
  • 16.19% France
  • 16.01% UK
  • 11.36% Germany
  • 5.55% Spain
  • 5.05% Netherlands
  • 3.48% Italy
  • 3.43% Ireland
  • 3.38% Luxembourg
  • 1.87% Sweden

Holdings by sector

  • 15.75% Capital Goods
  • 11.8% Services
  • 10.57% Utilities
  • 10.32% Telecommunications
  • 10.18% Health Care
  • 9.88% Basic Industries
  • 8.46% Media
  • 7.32% Automotive
  • 4.01% Leisure
  • 3.29% Financial Services

Holdings by asset type

  • 22.26% US Fixed Interest
  • 16.19% French Fixed Interest
  • 16.01% UK Fixed Interest
  • 11.36% German Fixed Interest
  • 5.55% Spanish Fixed Interest
  • 5.05% Dutch Fixed Interest
  • 3.48% Italian Fixed Interest
  • 3.43% Irish Fixed Interest
  • 3.38% Luxembourg Fixed Interest
  • 1.87% Swedish Fixed Interest

Individual holdings

  • 2.3% INTERNATIONAL GAME TECHNOLOGY PLC 4.75% NTS 15/02/23 EUR100000 REG S
  • 2.16% GRIFOLS SA 3.2% BDS 01/05/25 EUR100000
  • 1.87% VATTENFALL AB 3% SUB NON CL SECS 19/03/77 EUR100000
  • 1.82% VIRGIN MEDIA SECURED FINANCE PLC 5% NTS 15/04/27 GBP100000
  • 1.79% LA FINANCIERE ATALIAN SAS 4% BDS 15/05/24 EUR100000
  • 1.77% SNAM SPA 0.875% BDS 25/10/26 EUR100000
  • 1.76% EDF 4.25% PERP BDS EUR100000
  • 1.74% GLOBAL SWITCH HOLDINGS LTD MTN RegS
  • 1.74% IMS HEALTH INC 3.5% BDS 15/10/24 EUR100000
  • 1.74% LEVI STRAUSS & CO 3.375% BDS 15/03/27 EUR100000 REG S