Newton Long Corporate Bond

As at 31 March 2010

Investment objective

The objective of the Sub-Fund is to maximise returns through investment in predominantly in sterling denominated fixed interest securities excluding gilts. The Sub-Fund may also invest in deposits, derivative instruments, forward transactions and collective investment schemes.

General information

Fund type
ICVC
Fund domicile
UK
Type of shares / units
Accumulation
Base currency
GBP
Fund manager
Howard Cunningham
Alternate
Jon Day

Key dates

Fund launch
29/06/2000
Fund size (million)
£ 145.32

Fund aim

To outperform the Merrill Lynch Over 10 Years Investment Grade Index by up to 1% p.a. over rolling five year periods.

Calendar performance (%)

Calendar performance (%)

Performance (%)

PeriodFundBenchmarkRelative
3 Months to Mar-104.13.50.6
3 Months to Dec-09-1.2-0.8-0.4
3 Months to Sep-0911.311.9-0.6
3 Months to Jun-097.08.0-1.0
12 Months22.624.1-1.5
3 Years annualised3.53.40.1
5 Years annualised4.03.90.1
Since Fund launch annualised6.26.3-0.1

Historical fund statistics - 3 years

12 Month turnover
46.40
3 Month turnover
13.41
Annualised Sharpe ratio
-0.08
Annualised alpha
-0.35
Annualised information ratio
-0.35
Beta
0.95
Ex ante tracking error
n/a
Ex post tracking error
1.50
Fund volatility
9.20
Index volatility
9.59
Jensen alpha
-0.03
Portfolio VAR pa
n/a
Portfolio VAR pm
n/a
R²
0.98
Treynor ratio
-0.80

TOP TEN ISSUERS (%)

IssuerFund
European Invt Bk7.23
Netwrk Rail Infr3.90
Kredit Wiederauf3.77
LCR Finance Plc2.79
Scottish & South2.38
HSBC Bank Plc2.24
Int Bk Recon&Dev2.10
Credit Suisse2.10
Soc Natl Belges1.92
British Broadcasting Corp Plc1.63

MATURITY PROFILE (%)

YearsFundB'mark
0 - 5 yrs2.550.00
5 - 10 yrs8.950.25
10 - 15 yrs23.1231.84
15 - 20 yrs25.2723.70
20 - 25 yrs14.2220.30
25 - 30 yrs20.9517.84
30 yrs +4.946.07

CREDIT RATING DISTRIBUTION (%)

RatingFundB'mark
AAA36.0825.46
AA19.5019.63
A24.8538.52
BBB15.7516.39
BB1.360.00
B0.570.00
Cash1.890.00

SECTOR ALLOCATION (%)

SectorFund
Asset Backed/Securitisation23.45
Cash1.89
Consumer Cyclical1.50
Consumer Non-cyclical4.04
Finance22.88
Govt Guaranteed/Agency13.76
Industrial2.16
Other4.86
Supranational10.12
Telecommunications3.37
Utility11.97

Characteristics

FundB'mark
Duration10.7310.93
No. of Issuers84221

Literature

Dealing & Statutory literature