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

3.87 %

1 Year rank in sector

7/66

Sector

FO Fixed Int - EUR Corporate Bond

Yield
-
Fund size

£ 1.2 b

FE Risk score

80

NAV
-
Discount/Premium
-
Gearing
-

Top in sector

Holdings snapshot

  • USA
    26.61%
  • France
    15.48%
  • UK
    14.02%
  • Germany
    9.51%
  • Spain
    5.66%
  • Capital Goods
    12.91%
  • Telecommunications
    12.75%
  • Utilities
    11.12%
  • Services
    11.04%
  • Basic Industries
    10.5%
  • US Fixed Interest
    26.61%
  • French Fixed Interest
    15.48%
  • UK Fixed Interest
    14.02%
  • German Fixed Interest
    9.51%
  • Spanish Fixed Interest
    5.66%

Performance vs. Sector

Cumulative performance

1m6m1y3y5y
Fund0.79 %2.67 %3.87 %11.49 %23.38 %
Sector0.6 %2.01 %1.85 %7.92 %18.95 %
Rank within sector9 / 6910 / 667 / 668 / 6311 / 53
Quartile th1 st1 st1 st1 st1 st

Calendar performance

YTD-20172016201520142013
Fund3.69 %5.25 %0.3 %5.08 %5.27 %
Sector2.78 %4.74 %-1.02 %6.9 %2.24 %
Rank within sector10 / 6613 / 656 / 6354 / 596 / 54
Quartile th1 st1 st1 st4 th1 st

Risk statistics

Alpha0.9
Beta0.99
Sharpe-0
Volatility3.44
Tracking error1.66
Information ratio0.52
R-Squared0.76

Price movement

52 week high129.28
52 week low122.83
Current bid price0
Current offer price0
Current mid price129.24

Holdings by region

  • 26.61% USA
  • 15.48% France
  • 14.02% UK
  • 9.51% Germany
  • 5.66% Spain
  • 5.28% Netherlands
  • 3.86% Ireland
  • 3.61% Luxembourg
  • 3.55% Italy
  • 1.96% Sweden

Holdings by sector

  • 12.91% Capital Goods
  • 12.75% Telecommunications
  • 11.12% Utilities
  • 11.04% Services
  • 10.5% Basic Industries
  • 9.3% Health Care
  • 8.32% Media
  • 7.6% Automotive
  • 4.14% Leisure
  • 3.61% Financial Services

Holdings by asset type

  • 26.61% US Fixed Interest
  • 15.48% French Fixed Interest
  • 14.02% UK Fixed Interest
  • 9.51% German Fixed Interest
  • 5.66% Spanish Fixed Interest
  • 5.28% Dutch Fixed Interest
  • 3.86% Irish Fixed Interest
  • 3.61% Luxembourg Fixed Interest
  • 3.55% Italian Fixed Interest
  • 1.96% Swedish Fixed Interest

Individual holdings

  • 2.35% INTERNATIONAL GAME TECHNOLOG 4.75% 15-02-2023
  • 2.21% VOLKSWAGEN INTERNATIONAL FINANCE NV 3.875% UNDATED BDS EUR100000
  • 2.01% GRIFOLS SA 3.2% BDS 01/05/25 EUR100000
  • 1.96% VATTENFALL AB 3% SUB NON CL SECS 19/03/77 EUR100000
  • 1.86% GLOBAL SWITCH HOLDINGS LTD MTN RegS
  • 1.85% AT&T INC 2.35% BDS 04/09/29 EUR100000
  • 1.85% BALL CORP 4.375% BDS 15/12/23 EUR1000
  • 1.85% NASDAQ INC 3.875% BDS 07/06/21 EUR100000
  • 1.85% SPCM SA 2.875% 15-06-2023
  • 1.85% TEOLLISUUDEN VOIMA OYJ 2.125% 04-02-2025