Pendal Fixed Interest Performance Review | News

What is the Pendal Fixed Interest fund?

Pendal Fixed Interest aims to provide a return (before fees, costs and taxes) that exceeds the Bloomberg AusBond Composite 0+ Yr Index over the medium term. The return is expected to be comprised primarily of income. This Fund is designed for investors who want income, diversification across a broad range of cash and fixed interest securities and are prepared to accept some variability of returns.

The Fund aims to take advantage of investment opportunities primarily within the Australian fixed interest market by investing in a combination of Commonwealth government, semi-government and corporate debt and short-term money market securities.
The Fund may also invest tactically in international fixed interest markets.
The Fund can use derivatives to achieve its investment objective and to gain exposure to assets and markets.

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Pendal Fixed Interest Fund Commentary December 31, 2020

The Fund outperformed its benchmark in December by 0.06% (pre-fee) returning –0.21% vs a benchmark return of –0.27%. The credit/Government bond component outperformed whilst the overlay was flat. The Fund made the gains from an overweight short end physical position as yields drifted away from Yield Curve Control targets early in the month only to drift back on solid RBA buying by mid-month. The portfolio has a small overweight Australian duration position but focused around the 5yr point of the curve. We remain wary of long end moves into the new year given the strong risk on sentiment in markets in general. The Enhanced Credit Fund returned 0.18% (pre-fee) and outperformed its benchmark over the month of December.

Enhanced Credit’s portfolio performed strongly on the back of its overweight in Infrastructure and underweight in Supranationals. The Supra sector continues to struggle in the low yield environment during COVID. At the end of December this sector had a sector average spread of 22bp compared 48bp for the overall Bloomberg Non-Government Index.

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Performance Review
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Performance Review

Fund Name	Last Month ? Returns after fees in the most recent (last) month).	3 Months Return ? Returns after fees in the most recent 3 months.	1 Year Return ? Trailing 12 month returns.	3 Years Average Return ? Average Annual returns from the last 3 years.	Since Inc. Average Return ? Average (annualised) returns since inception	1 Year Std. Dev. (Annual) ? The standard deviation (or annual volatility) of the last 12 months.	3 Years Std. Dev. (Annual) ? The average standard deviation (or annual volatility) from the last 3 years.	Since Inc. Std. Dev. (Annual) ? The average standard deviation (or annual volatility) since the fund inception.	1 Year Max Drawdown ? The maximum drawdown in the last 12 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.	3 Year Max Drawdown ? The maximum drawdown in the last 36 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.	Since Inc. Max Drawdown ? The maximum drawdown since inception - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
Pendal Fixed Interest	0.32%	3.22%	7.33%	-1.18%	4.61%	5.18%	6.62%	3.81%	-2.06%	-11.79%	-14.12%

Product Overview

Fund Name	APIR Code ? A Product Code is unique a identifier code issued by a group or governing body, to reference products in a large group. For an example, APIR codes are commonly used for Funds and Ticker codes are commonly used for Securities such as ETFs and Stocks.	Structure ?	Asset Class ? An Asset Class breakdown provides the percentages of core asset classes found within a mutual fund, exchange-traded fund, or another portfolio. Asset classes (in microeconomics and beyond) generally refer to broad categories such as equities, fixed income, and commodities.	Asset Category ? An Asset Category is a grouping of investments that exhibit similar characteristics and are subject to the same laws and regulations. Asset categories (or a sub-asset class) are made up of instruments which often behave similarly to one another in the marketplace, looking down to the Asset Category level is important if looking to build a diversified portfolio.	Peer Benchmark Name ? A Peer Index (benchmark) refers to a peer group of investment managers who have the same investment style or category. It is used to compare the performance of one manager to their peer group, which makes it simpler for investors to choose between the vast number of investment managers.	Broad Market Index ? A Market Index (benchmark) refers to a hypothetical portfolio of investments that represents a segment, asset or category of an investable market. Market Indices are used to benchmark managers performance, to assist their style reliability and ability to provide excess returns.	FUM ? Funds/Assets under management (AUM) is the total market value of the investments that a person or entity manages on behalf of clients. Assets under management definitions and formulas vary by company.	Management Fee ? A management fee is a charge levied by an investment manager for managing an investment fund. The management fee is intended to compensate the managers for their time and expertise for selecting finanical products and managing the portfolio.	Performance Fee ? A performance fee is a payment made to an investment manager for generating positive returns. This is as opposed to a management fee, which is charged without regard to returns. A performance fee can be calculated many ways. Most common is as a percentage of investment profits, often both realized and unrealized. It is largely a feature of the hedge fund industry, where performance fees have made many hedge fund managers among the wealthiest people in the world.	Spread ? A spread can have several meanings in finance. Basically, however, they all refer to the difference between two prices, rates or yields. In one of the most common definitions, the spread is the gap between the bid and the ask prices of a security or asset, like a stock, bond or commodity. This is known as a bid-ask spread.
Pendal Fixed Interest	RFA0813AU	Managed Funds	Fixed Income	Bonds - Australia	Fixed Income - Bonds - Australia Index	Australian Bond Composite 0-10Y Index	802.86 M	0.5%	0.00%	0.16%

Peer Comparison

Fund Name	Peer Index Name ? A group of individuals who share similar characteristics and interests are called peer groups. Peer group analysis is an essential part of assessing a price for a particular stock in investment research. The emphasis here is on making a comparison, meaning that the peer group constituents should be more or less identical to the company being examined, especially in terms of their main business and market capitalization areas.	12 Months Excess Return ? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.	Excess Return Annualised Since Inception ? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.	12 Months Alpha ? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market return over 12 months. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.	Alpha Annualised Since Inception ? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market annualized since inception. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.	12 Months Beta ? Rolling 12Month Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).	Beta Annualised Since Inception ? Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).	12 Months Tracking Error ? 12Month Tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark over the last 12 months. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.	Tracking Error Since Inception ? Since Inception tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark since inception. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.	12 Months Correlation ? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.	Correlation Since Inception ? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.
Pendal Fixed Interest	Fixed Income - Bonds - Australia Index	0.14%	-0.19%	NA%	NA%	NA%	1.19	0.9%	1.04%	1	0.97

Product Details

Fund Name	Verifed by SMSF Mates	Manager Address	Phone	Website	Email
Pendal Fixed Interest	Yes		-	https://www.pendalgroup.com/	-

Product Due Diligence

What is Pendal Fixed Interest

Pendal Fixed Interest is an Managed Funds investment product that is benchmarked against Australian Bond Composite 0-10Y Index and sits inside the Fixed Income - Bonds - Australia Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The Pendal Fixed Interest has Assets Under Management of 802.86 M with a management fee of 0.5%, a performance fee of 0.00% and a buy/sell spread fee of 0.16%.

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Pendal Fixed Interest (RFA0813AU) Report & Performance

What is the Pendal Fixed Interest fund?

Quick Links

Growth of $1000 Investment Over Time

Growth of $1000
Pendal Fixed Interest (RFA0813AU)

Peer Comparison Report

Peer Comparison Report
Pendal Fixed Interest (RFA0813AU)

Latest News & Updates For Pendal Fixed Interest

Pendal Fixed Interest Fund Commentary December 31, 2020

Product Snapshot

Performance Review

Product Overview

Peer Comparison

Product Details

Product Due Diligence

What is Pendal Fixed Interest

How has the investment product performed recently?

How is risk measured in this investment product?

What is the relative performance of the investment product?

Does the investment product produce Alpha over its Peers?

What are similar investment products?

What level of diversification will Pendal Fixed Interest provide?

How do I compare the investment product with its peers?

How do I compare the Pendal Fixed Interest with the Australian Bond Composite 0-10Y Index?

Can I sort and compare the Pendal Fixed Interest to do my own analysis?

Has the Pendal Fixed Interest been independently verified by SMSF Mate?

How can I invest in Pendal Fixed Interest?

How do I get in contact with the Pendal Fixed Interest?

Comments from SMSF Mates

Get the Latest Updates from
Pendal Fixed Interest (RFA0813AU)

Kind words from Aussies managing
their own self funded futures

Tim B, Business Owner, SMSF Trustee

David G, Self-Employed, SMSF Owner

Tim B, Business Owner, SMSF Trustee

David G, Self-Employed, SMSF Owner

Tim B, Business Owner, SMSF Trustee

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Pendal Fixed Interest (RFA0813AU) Report & Performance

What is the Pendal Fixed Interest fund?

Quick Links

Growth of $1000 Investment Over Time

Growth of $1000 Pendal Fixed Interest (RFA0813AU)

Peer Comparison Report

Peer Comparison Report Pendal Fixed Interest (RFA0813AU)

Latest News & Updates For Pendal Fixed Interest

Pendal Fixed Interest Fund Commentary December 31, 2020

Product Snapshot

Performance Review

Product Overview

Peer Comparison

Product Details

Product Due Diligence

What is Pendal Fixed Interest

How has the investment product performed recently?

How is risk measured in this investment product?

What is the relative performance of the investment product?

Does the investment product produce Alpha over its Peers?

What are similar investment products?

What level of diversification will Pendal Fixed Interest provide?

How do I compare the investment product with its peers?

How do I compare the Pendal Fixed Interest with the Australian Bond Composite 0-10Y Index?

Can I sort and compare the Pendal Fixed Interest to do my own analysis?

Has the Pendal Fixed Interest been independently verified by SMSF Mate?

How can I invest in Pendal Fixed Interest?

How do I get in contact with the Pendal Fixed Interest?

Comments from SMSF Mates

Get the Latest Updates from Pendal Fixed Interest (RFA0813AU)

Kind words from Aussies managing their own self funded futures

David G, Self-Employed, SMSF Owner

Latest articles

Superannuation Advice Australia: Maximise Your Retirement Savings

A Beginner’s Guide to Unused Carry Forward Concessional Contributions Rules

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Growth of $1000
Pendal Fixed Interest (RFA0813AU)

Peer Comparison Report
Pendal Fixed Interest (RFA0813AU)

Get the Latest Updates from
Pendal Fixed Interest (RFA0813AU)

Kind words from Aussies managing
their own self funded futures