Baring High Yield Bond

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					                                                                                                       INTERNATIONAL FUNDS ISLE OF MAN


Baring High Yield Bond

July 2011                                                                             This factsheet is for information only and should not be considered a
                                                                                      financial promotion. This information should not be relied upon for buying
                                                                                      and selling decisions.


FUND OBJECTIVE                                                                        MIRROR FUND KEY FACTS

To provide a high yield in dollar terms. The fund will invest in three                FP Code:                                                               J27
main bond markets: US Corporate Markets, Emerging (developing)                        Currency:                                                              USD
Markets, and higher yielding OECD markets.                                            Launch Date:                                                      Oct 1995
                                                                                      FPI Risk Rating:                                                         3
FPI MIRROR FUND RISK RATING                                                           Fund Key:                                                                    S
                                                                                      Dealing:                                                                  Daily
                                                                                      Sharia Compliant:                                                           No
                                                                                      Index Tracker:                                                              No
                                                                                      Socially Responsible Investment:                                            No
     Grade 3: These funds take a balanced approach to                                 SFC Authorised:                                                            Yes
     investment by holding a diverse portfolio of assets.                             MAS Approved:                                                              Yes

The fund price may go up and down depending on investment                             UNDERLYING FUND KEY FACTS
performance and is not guaranteed. You may get back less than
you’ve paid in.                                                                Sedol Code:                                                0083595
                                                                               ISIN Code:                                            IE0000835953
DPPI MIRROR FUND SEARCH SCHEME                                                 Launch Date:                                             19/07/1993
                                                                               Fund Management Company:                Baring Intl Fund Mgr (Ire) Ltd
Dynamic Portfolio Planner International (DPPi) is our online, adviser only,    Fund Manager:                                            Ece Ugurtas
portfolio-planning tool. The Mirror Fund Search Scheme is used to filter our Manager Since:                                             13/09/2007
mirror fund range by defining broad asset classes in order to refine a search. Fund Size (as at 30/06/2011):                             USD 595m
                                                                               Annual Management Charge:                                     1.00%
This fund is classified as:                                                    Additional Expenses (as at 31/05/2011):                       0.50%
                                                                               Total Expense Ratio (as at 31/05/2011):                       1.50%
                                                                                      The Total Expense Ratio is a measure of the total annual charge of the
                                                                                      underlying fund and is the Annual Management Charge plus the Additional
                                                                                      Expenses
                                                                                      Sector Classification:                                    Fixed Int - Global
                                                                                      Crown Rating:
                                                                                      Further information on the Crown Rating can be found at
                                                                                      www.financialexpress.net


FUND KEY
S : These funds are available to investors in Singapore through Global Wealth Manager, Global Wealth Builder and Global Wealth Builder Plus.


UNDERLYING FUND BREAKDOWN
Asset Allocation (as at 30/06/2011)                                                   Geographical Allocation (as at 30/06/2011)

US Fixed Interest                                                  63.30%             USA                                                             63.30%

European Fixed Interest                    25.60%                                     Europe                                     25.60%

Money Market                   7.00%                                                  Money Market                   7.00%

UK Fixed Interest            4.10%                                                    UK                           4.10%




TOP HOLDINGS (as at 30/06/2011)

Holding                                                           % of Fund           Holding                                                         % of Fund

1. BLT FINANCE CORPORATION 7.5% BDS 15/05/14                           0.90%          6. JAGUAR LAND ROVER PLC 8.125% BDS 15/05/18                         0.90%
   USD1000 `REGS`                                                                         GBP1000 REG S
2. CEDC FINANCE 8.875% 01/12/2016                                      0.90%          7. NORSKE SKOGSINDUSTRIER ASA 7% NTS 26/06/17                        0.90%
3. DUCHESS VI CLO BV CLS`A-1`1ST PRI FRN 01/08/22                      0.90%              EUR1000
   EUR                                                                                8. OTE 4.625% NTS 20/05/16 EUR50000                                  0.90%
4. FIRST DATA CORP 8.25% SNR NTS 15/01/21                              0.90%          9. PEERMONT GLOBAL 7.75% 09/05/11                                    0.90%
   USD1000 144A                                                                       10. SOUTHERN UNION CO 7.2% FRN 01/11/66 USD1000                      0.90%
5. FOODCORP 8.75% NTS 01/03/18 EUR100000 144A                          0.90%              SER `A`
                                                                                                                            INTERNATIONAL FUNDS ISLE OF MAN


Baring High Yield Bond

July 2011




The information shown below refers to the past. Past performance is not a reliable guide to future performance.
Performance figures are net of all charges. Please note that the securities held within a fund may not be denominated in the currency of that fund
and, as a result, fund prices may rise and fall purely on account of exchange rate fluctuations.

PERFORMANCE OF MIRROR FUND OVER ROLLING ONE YEAR PERIODS (as at 30/06/2011)
                                                         30/06/2006 -                  30/06/2007 -                  30/06/2008 -                  30/06/2009 -                 30/06/2010 -
                                                          30/06/2007                    30/06/2008                    30/06/2009                    30/06/2010                   30/06/2011

Baring High Yield Bond                                       11.89%                        -3.66%                       -11.83%                       23.07%                        12.88%

* This fund was not available during this time frame
Figures are for periods from Quarter 2 to Quarter 2 of each year.

RELATIVE PERFORMANCE OF UNDERLYING FUND OVER ROLLING ONE YEAR PERIODS (as at 30/06/2011)
                                                         30/06/2006 -                  30/06/2007 -                  30/06/2008 -                  30/06/2009 -                 30/06/2010 -
                                                          30/06/2007                    30/06/2008                    30/06/2009                    30/06/2010                   30/06/2011

Quartile Rank                                                   Q1                           Q4                            Q3                            Q1                            Q2
Absolute Rank                                                32/140                       140/156                       100/180                       17/203                        98/230

Figures are for periods from Quarter 2 to Quarter 2 of each year.
Quartile rank – if a fund is ranked in the top 25% of funds available within its investment sector over the period shown, it is shown as Q1. Funds
ranked in the next 25% are ‘Q2’ etc. Funds in the bottom 25% are ‘Q4’.
Absolute rank – shows the fund’s relative positioning when its performance is compared to the other funds in the Financial Express sector.

PERCENTAGE GROWTH OF MIRROR FUND OVER FIVE YEARS (as at                                                CUMULATIVE PERFORMANCE OF MIRROR FUND (as at 30/06/2011)
30/06/2011)
                                                                                                                                                                                            % growth
40%
                                                                                                       Since Launch                                                                           146.02
30%                                                                                                    3 Months                                                                                -0.82

20%                                                                                                    6 Months                                                                                 3.39

10%
                                                                                                       1 Year                                                                                  12.88
                                                                                                       3 Years                                                                                 22.48
 0%
                                                                                                       5 Years                                                                                 32.03
-10%
                                                                                                       10 Years                                                                                64.01
-20%
                                                                                                       ANNUALISED PERFORMANCE OF MIRROR FUND (as at 30/06/2011)
-30%                                                                                                                                                                                        % growth
   Jul 06         Jul 07        Jul 08         Jul 09        Jul 10
                                30/06/2006 - 30/06/2011 Powered by data from FE                        Since Launch                                                                             5.89
                                                                                                       Standard Deviation*                                                                   13.94%

                                                                                                       * Standard Deviation is a measure of a fund’s risk and volatility. It gives an
                                                                                                       indication of how much a fund’s price goes up and down in value. So the
                                                                                                       higher the volatility measure, the greater the risk. The above figure is an
                                                                                                       annualised figure over a three-year time period.

                                                 Source: Financial Express Ltd, on a bid to bid basis. Figures to 30/06/2011

IMPORTANT INFORMATION REGARDING MIRROR FUNDS
For each fund managed by external investment managers Friends Provident International has set up its own mirror fund, which invests exclusively in
the underlying fund, apart from a proportionately small amount, which may be held as a cash balance. This means that the price of the Friends
Provident International fund will be different from the corresponding fund due to the cash holding and any differences in fund charges, but will move
mainly in line with it. These mirror funds can only be accessed using Friends Provident International product wrappers. Please note that there are
fees charged to investments in the mirror funds that will affect their return. For further details, please refer to the relevant fund information
brochure.
                                                                               Friends Provident International Limited
                                                      Registered and Head Office : Royal Court, Castletown, Isle of Man, British Isles, IM9 1RA
                                                    Telephone: + 44 1624 821212 Fax: +44 1624 824405 Website: www.fpinternational.com
                                                         Incorporated company limited by shares. Registered in the Isle of Man No. 11494.
                                            Authorised by the Isle of Man Insurance Pensions Authority and regulated by the Financial Services Authority
                                               for the conduct of investment business in the UK. Provider of life assurance and investment products.
            The rules and regulations made by the Financial Services Authority for the protection of investors will not normally apply to persons resident outside the United Kingdom.
              All Policyholders will receive the protection of the Life Assurance (Compensation of Policyholders) Regulations 1991 of the Isle of Man, wherever their place of residence.
Investors should be aware that specific investor protection and compensation schemes that may exist in relation to collective investments and deposit accounts are unlikely to apply in the event of
                                                                       such investments held within insurance contracts.

				
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