Fund FP Shenkman Cred High Yield Europe Plus A Dis NAV

IMA Sector:

Global Bonds

ISIN:

GB0007368888

Fund Type:

OEIC

  70.00
   
  • PEP:
  • ISA:
  • CAT Std:
  • Date: 22-Aug-2014
  • Change:  0.00
  • Change %: n/a
  • Currency: EUR
  • YTD change:  70.00
  • YTD %: n/a

Fund Objective

To achieve primarily a high level of income and in addition capital appreciation.

View on Past Performance

In january, the PALLMALL High Yield Europe Plus Fund had a 1.34% return, net of all fees and expenses. The Fund's NAV at the end of the month stood at 80.86.

Future Expectations

The market outlook remains one of spread widening potential from our point of view. Last month we re-iterated our view that we expect spreads in high yeild to widen approximately 100-150 basis points over the next six months primarily on rising interest rate expectations driven by higher commodity prices and an up-tick in inflation, increased LBO activity and expectations of rising default rates from very low levels towards year end.On the positive side the market has absorbed recent new issuance without material indigestion and the short term pipeline is more subdued. The portfolio has reduced some risks and with underlying credit fundamentals remaining good on balance, we would expect to take advantage of any market weakness to pick up attractive risk at higher spreads.

Fund Details

Latest Price  70.00 IMA Sector Global Bonds
Currency Euro Launch Date 23/06/1999
Fund Size n/a Fund Manager Curt Schibli / Jonathan Goble / Oliver Chamberlain / Stephanie Winterhagen / Martina Jobst
ISIN GB0007368888 Dividend 6.05c

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Price Info

Date 22-Aug-2014
NAV  70.00
Currency EUR
Change  0.00
% n/a
YTD change  70.00
YTD % n/a

Fund Facts

Fund Inception 23/06/1999
Fund Manager Curt Schibli / Jonathan Goble / Oliver Chamberlain / Stephanie Winterhagen / Martina Jobst
TER -
Minimum Investment
Initial  1000000
Additional n/a
Savings n/a
Charges
Initial 2.00%
Annual Mang't 0.75%
Exit n/a

Risks

Name %
Standard deviation 0.01
Sharpe ratio -0.02

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