AHFM Defined Returns B GBP

A fund of structured products targeting a 7-8% return net of fees.

  • 107.69p Price (Inc)
  • 151.54p Price (Acc)
  • 0.00% 0.00%

    Initial charge
  • 0.55% Annual management charge
  • 0.78% Ongoing charges
  • 0.00% Yield

Fund data last updated 20 November 2019

The fund was launched in November 2013 and has now accumulated a 24-month track record. It aims to generate medium to long-term growth targeting a long-term GRY net of fees of between 7-8%, based upon the pricing environment for structured investments. The fund has no index benchmark and aims to achieve its objective by investing in a diversified portfolio of structured investments linked to global equity indices. It will invest primarily in a mixture of standalone structured products across a number for eligible counterparties. The fund will hold a relatively high proportion of its assets in gilts which will typically be used to enter into swap agreements with eligible counterparties looking to obtain a desired payoff.

Fund summary

Sector Flexible Investment
Structure OFFSHORE FUND
Launched November, 2013
Size £1,097m
Yield 0.00%
Charging basis
Dividends paid Feb, May, Aug, Nov

Charges

Initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.55%
Ongoing charges figure 0.78%

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Investment process

The fund aims to generate medium to long-term growth by investing in a diversified portfolio of structured investments linked to global equity indices. It will invest primarily in a mixture of transferable securities and financial derivative instruments. The fund will look to gain exposure both via structured products issued by a number of counterparties as well as holding a proportion of its assets in gilts which will typically be used to enter into swap agreements with eligible counterparties looking to obtain a desired payoff. At the point of swap initiation, its values is zero. Swap agreements are marked to market on a daily basis and the value of swap agreements is typically collateralised. Allocation to gilts is a function of credit spreads – tighter levels of credit spreads will typically result in a larger allocation to ‘swap’ trades backed by gilts. Where trades are issued using bank notes, issuing counterparties will typically have a credit rating of at least ‘A-’. The fund will typically look to gain market exposure using autocalls, boosters and digital notes, allocating capital across a number of developed market regions, including North America, UK, Europe, Japan, and Asia ex Japan markets. The fund will typically have a bias to the UK and targets delta exposure of circa 60-80%.

Manager research

Average monthly relative returns

  • 14/15 0.00%
  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Track record

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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Top 10 holdings

% Stock
5.61%% Gilt Backed FTSE / EuroStoxx / S&P Def Autocall
5.22% JPM backed FTSE / S&P / EuroStoxx Def Autocall
5.21% Gilt Backed FTSE / EuroStoxx /Nikkei S&P Def Autocall
4.84% Gilt Backed FTSE / Swiss Market Index / EuroStoxx Def Autocall
4.57% Gilt Backed FTSE / EuroStoxx / S&P Def Autocall

Key Investor Information - Income

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Key Investor Information - Accumulation

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