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

4.45 %

1 Year rank in sector

19/65

Sector

FO Fixed Int - EUR Corporate Bond

Yield
-
Fund size

£ 1.2 b

FE Risk score

82

NAV
-
Discount/Premium
-
Gearing
-

Top in sector

Holdings snapshot

  • USA
    26.34%
  • France
    15.1%
  • UK
    13.42%
  • Germany
    11.3%
  • Spain
    5.56%
  • Telecommunications
    12.63%
  • Capital Goods
    12.56%
  • Utilities
    11.01%
  • Health Care
    10.93%
  • Services
    10.61%
  • US Fixed Interest
    26.34%
  • French Fixed Interest
    15.1%
  • UK Fixed Interest
    13.42%
  • German Fixed Interest
    11.3%
  • Spanish Fixed Interest
    5.56%

Performance vs. Sector

Cumulative performance

1m6m1y3y5y
Fund-0.09 %1.32 %4.45 %9.71 %21.67 %
Sector0.2 %1.7 %4.26 %7.49 %17.72 %
Rank within sector63 / 6851 / 6719 / 6510 / 6213 / 52
Quartile th4 th4 th2 nd1 st1 st

Calendar performance

YTD-20172016201520142013
Fund3.75 %5.25 %0.3 %5.08 %5.27 %
Sector3.34 %4.74 %-1.02 %6.9 %2.24 %
Rank within sector15 / 6514 / 645 / 6253 / 586 / 52
Quartile th1 st1 st1 st4 th1 st

Risk statistics

Alpha0.85
Beta0.99
Sharpe-0
Volatility3.45
Tracking error1.66
Information ratio0.49
R-Squared0.77

Price movement

52 week high130.08
52 week low123.99
Current bid price0
Current offer price0
Current mid price129.31

Holdings by region

  • 26.34% USA
  • 15.1% France
  • 13.42% UK
  • 11.3% Germany
  • 5.56% Spain
  • 5.23% Netherlands
  • 3.81% Ireland
  • 3.48% Italy
  • 2.03% Luxembourg
  • 1.99% Sweden

Holdings by sector

  • 12.63% Telecommunications
  • 12.56% Capital Goods
  • 11.01% Utilities
  • 10.93% Health Care
  • 10.61% Services
  • 10.26% Basic Industries
  • 8.16% Media
  • 7.63% Automotive
  • 4.18% Leisure
  • 3.59% Retail

Holdings by asset type

  • 26.34% US Fixed Interest
  • 15.1% French Fixed Interest
  • 13.42% UK Fixed Interest
  • 11.3% German Fixed Interest
  • 5.56% Spanish Fixed Interest
  • 5.23% Dutch Fixed Interest
  • 3.81% Irish Fixed Interest
  • 3.48% Italian Fixed Interest
  • 2.03% Luxembourg Fixed Interest
  • 1.99% Swedish Fixed Interest

Individual holdings

  • 2.35% INTERNATIONAL GAME TECHNOLOG 4.75% 15-02-2023
  • 2.32% VOLKSWAGEN INTERNATIONAL FINANCE NV 3.875% UNDATED BDS EUR100000
  • 1.99% VATTENFALL AB 3% SUB NON CL SECS 19/03/77 EUR100000
  • 1.97% GRIFOLS SA 3.2% BDS 01/05/25 EUR100000
  • 1.97% TESCO PROPERTY FINANCE 2 PLC 6.0517% MTG BDS 13/10/39 GBP1000
  • 1.85% AT&T INC 2.35% BDS 04/09/29 EUR100000
  • 1.84% Ziggo Secured Finance BV 3.75% 15/01/2023
  • 1.83% GLOBAL SWITCH HOLDINGS LTD MTN RegS
  • 1.83% IMS HEALTH INC 3.5% BDS 15/10/24 EUR100000
  • 1.83% VIRGIN MEDIA SECURED FINANCE PLC 5% NTS 15/04/27 GBP100000