UBS Income Solution Fund is an Managed Funds investment product that is benchmarked against Global Aggregate Hdg Index and sits inside the Fixed Income - Diversified Credit 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 UBS Income Solution Fund has Assets Under Management of 301.32 M with a management fee of 0.6%, a performance fee of 0.00% and a buy/sell spread fee of 0.08%.
The recent investment performance of the investment product shows that the UBS Income Solution Fund has returned 0.72% in the last month. The previous three years have returned 2.39% annualised and 3.45% each year since inception, which is when the UBS Income Solution Fund first started.
There are many ways that the risk of an investment product can be measured, and each measurement provides a different insight into the risk present. They can be used on their own or together to perform a risk assessment before investing, but when comparing investments, it is common to compare like for like risk measurements to determine which investment holds the most risk. Since UBS Income Solution Fund first started, the Sharpe ratio is NA with an annualised volatility of 3.45%. The maximum drawdown of the investment product in the last 12 months is -0.82% and -23.37% since inception. The maximum drawdown is defined as the high-to-low decline of an investment during a particular time period.
Relative performance is what an asset achieves over a period of time compared to similar investments or its peers. Relative return is a measure of the asset's performance compared to the return to the other investment. The UBS Income Solution Fund has a 12-month excess return when compared to the Fixed Income - Diversified Credit Index of 0.58% and -0.28% since inception.
Alpha is an investing term used to measure an investment's outperformance relative to a market benchmark or peer investment. Alpha describes the excess return generated when compared to peer investment. UBS Income Solution Fund has produced Alpha over the Fixed Income - Diversified Credit Index of NA% in the last 12 months and NA% since inception.
For a full list of investment products in the Fixed Income - Diversified Credit Index category, you can click here for the Peer Investment Report.
UBS Income Solution Fund has a correlation coefficient of 0.87 and a beta of 1.23 when compared to the Fixed Income - Diversified Credit Index. Correlation measures how similarly two investments move in relation to one another. This establishes a 'correlation coefficient', which has a value between -1.0 and +1.0. A 100% correlation between two investments means that the correlation coefficient is +1. Beta in investments measures how much the price moves relative to the broader market over a period of time. If the investment moves more than the broader market, it has a beta above 1.0. If it moves less than the broader market, then the beta is less than 1.0. Investments with a high beta tend to carry more risk but have the potential to deliver higher returns.
For a full quantitative report on UBS Income Solution Fund and its peer investments, you can click here for the Peer Investment Report.
For a full quantitative report on UBS Income Solution Fund compared to the Global Aggregate Hdg Index, you can click here.
To sort and compare the UBS Income Solution Fund financial metrics, please refer to the table above.
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The portfolio outperformed the benchmark over August. Australia’s sovereign yield curve steepened over August with the front end declining more than the long end, resulting in positive relative performance against the lower duration bank bill index.
Within Credit management, the portfolio’s overweight position in Australian corporates benefited strongly from the tightening credit spreads over August and the extra yields (“carry”). Credit spreads widened modestly in the US high yield market, which was a small detractor from relative performance
The portfolio outperformed the benchmark over July. Australia’s sovereign yield curve steepened over July with the front end declining and the long end rising, resulting in mixed relative performance against the lower duration bank bill index.
Within Credit management, the portfolio’s overweight position in Australian corporates benefited largely from the extra yields (“carry”) as credit spreads tightened modestly over July. Credit spreads tightened in the US high yield market as well, which was also a contributor to relative performance.
The portfolio underperformed the benchmark over June. Australian Government bond yields sold-off across the term structure, resulting in negative relative performance against the lower duration bank bill index.
Within Credit management, the portfolio’s overweight position in Australian corporates benefited largely from the extra yields (“carry”) as credit spreads tightened modestly and was the biggest contributor to relative performance over June, although insufficient to offset impact from duration. Credit spreads tightened in the US high yield market which was also a contributor to relative performance.
The portfolio underperformed the benchmark over May.
Australian Government bond yields sold-off across the term structure, resulting in negative relative performance against the lower duration bank bill index.
Within Credit management, the portfolio’s overweight position in Australian corporates benefited largely from the extra yields (“carry”) as credit spreads tightened modestly and was the biggest contributor to relative performance over May, although insufficient to offset impact from duration.
Credit spreads widened in the US high yield market which was also a detractor to relative performance.
The portfolio outperformed the benchmark over April. Australian Government bond yields rose slightly across the term structure with a flattening bias, resulting in negative relative performance against the lower duration bank bill index.
Within Credit management, the portfolio’s overweight position in Australian corporates benefited largely from the extra yields (“carry”) as credit spreads tightened modestly and was the biggest contributor to relative performance over April, more than offsetting the drawdowns from duration. The tightening credit spreads in the US high yield market was a contributor as well.
The portfolio produced positive absolute return but underperformed the benchmark over February. Australian Government bonds sold-off across the curve, thus causing a detraction to the fund’s performance against the lower duration bank bill index.
Within Credit management, the tightening of Australian corporate credit spreads contributed to the portfolio’s relative performance over the month. The tightening credit spreads in the US high yield market contributed to performance as well.
The portfolio outperformed the benchmark over January. Australian Government bonds yields fell at the front end of the curve, resulting in positive relative performance against the lower duration bank bill index. Within Credit management, the tightening of Australian corporate credit spreads contributed to the portfolio’s relative performance over the month. The tightening credit spreads in the US high yield market contributed to performance as well.
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