Fund analysis
Fund analysis provides an in-depth look at a fund. The exact tools you see will depend on the type of fund and the data available. The types of fund and the accompanying tools are as follows:
| Equity funds | Bond funds | Fund of funds |
|---|---|---|
|
Asset allocation Top 10 holdings Dual Aspect Analysis Geographical heat map Detailed geographical breakdown Breakdown by market capitalization Equity sectors (Industry Classification Benchmark) Detailed sector breakdown |
Asset allocation Top 10 holdings Dual Aspect Analysis Geographical heat map Detailed geographical breakdown Fixed interest analysis Currency allocation |
Asset allocation (standard and X-Ray) IMA sector allocation Standard top 10 holdings X-Ray top 10 holdings X-Ray dual aspect analysis Geographical heat map Detailed geographical breakdown Breakdown by market capitalization X-Ray Equity Sectors (Industry Classification Benchmark) Detailed Sector Breakdown |
Each has been split into three categories: Overview, Geographical Analysis, In detail. Click on the category to view the tools.
The region or country of a stock is denoted by its primary listing.
Overview
- Asset Allocation
(equity and bond funds) - An overview of the asset classes held by a fund. The donut chart displays the percentage split between the asset types.
- Asset Allocation
(fund of funds) - Standard – The split between the major asset classes a fund holds.
X-Ray (fund of funds) – The X-Ray asset allocation provides a look through of the funds held to the underlying assets i.e. rather than looking at the allocation of the funds this tool looks at the shares, bonds etc. that they hold. - IMA Sector Allocation
(fund of funds) - A breakdown of the Investment Management Association sectors for funds held within a Fund of funds.
- Top 10 holdings
(equity and bond funds) - The top 10 assets held by a fund including cash and unclassified investments.
- Standard top 10 holdings
(fund of funds) - The top 10 funds held by a fund of funds. Cash and unclassified/unrecognised investments may also be included.
- X-Ray top 10 holdings
(fund of funds) - A look through the funds held by a fund of funds to the top ten assets. For example a UK Equity Income Multi-Manager portfolio may hold several funds which are invested in BP, in which case this might be shown in the top 10.
- Where is the fund invested?
(equity and bond funds) - A matrix used to compare the sectors held by a fund against broad asset classes. For example a fund holding 50% in BP shares would have an entry of 50% in the UK Equities column against the Oil and Gas sector.
- Where are the underlying funds invested?
(fund of funds) - A matrix used to compare the sectors of underlying assets of a Fund of funds against broad asset classes. The ‘Managed funds’ category on both axes denotes a fund for which a look through cannot be provided.
Geographical Analysis
The Geographical Analysis tools determine region and country by the primary listing of a stock.
- Geographical heat map
(all funds) - This provides an overview of where in the world a fund is invested. The higher the proportion invested in a single region the more red that segment of the map will become. For fund of funds this looks through the funds held to the individual equities or bonds.
- Detailed Geographical Breakdown
(all funds) - The donut chart summarises the split between distinct regions a fund is invested in. Expand the table to see a breakdown of the individual countries a fund holds. For fund of funds this is a look through to the individual equities or bonds held.
In detail
- Breakdown by market capitalization
(equity funds and fund of funds) - This shows the size bias of the equity (share) holdings in a portfolio. The range covers company sizes from mega cap to small cap.
- Equity sectors allocation
(Industry Classification Benchmark)
(equity funds) - This is the snapshot of the sectors and industries a fund is invested in. The Industry Classification Benchmark (ICB) is a joint product of FTSE International Limited and Dow Jones & Company, Inc.
For more information about the ICB please visit http://www.icbenchmark.com/icb_structure.html - X-Ray sector allocation
(Industry Classification Benchmark)
(fund of funds) - This is a snapshot of the equity sectors and industries the funds within a fund of funds are invested in. The Industry Classification Benchmark is a joint product of FTSE International Limited and Dow Jones & Company, Inc.
For more information about the ICB please visit http://www.icbenchmark.com/icb_structure.html - Detailed Sector Breakdown
- A complete breakdown of industries and funds in which a fund is invested. This is a comprehensive breakdown of the industries and sectors the equity element of a fund is invested in.
For more information about the ICB please visit http://www.icbenchmark.com/icb_structure.html - Fixed Interest Analysis
(bond funds) - Debt Maturity Profile – a breakdown of the time to maturity of Fixed Interest holdings within the fund.
Debt Quality Profile – a breakdown of the quality of bond/debt holdings held by a fund using Standard & Poor’s ratings. Below is a brief summary of the rating system.
Investment grade AAA Best quality AA High quality A Upper medium BBB Lower Medium Sub investment grade BB Speculative B Highly Speculative CCC Poor D In default NR Not Rated Cash and equiv. Cash and money market instruments