Prudential M&G Optimal Income Ser A
Performance
Discrete performance - to last month end
| 30/11/19 to 30/11/20 |
30/11/20 to 30/11/21 |
30/11/21 to 30/11/22 |
30/11/22 to 30/11/23 |
30/11/23 to 30/11/24 |
|
|---|---|---|---|---|---|
| Fund | n/a | n/a | -9.8% | 7.8% | 7.6% |
| Sector | 6.1% | 1.8% | -10.9% | 3.2% | 8.6% |
| Rank | n/a | n/a | 55/134 | 14/136 | 95/137 |
| Quartile | n/a | n/a | 2 | 1 | 3 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/11/24 |
5 Years to 30/11/24 |
10 Years to 30/11/24 |
||
| Fund | 1.5% | n/a | n/a | |
| Sector | 0.0% | 1.5% | 2.4% | |
| Rank | 44/134 | n/a | n/a | |
| Quartile | 2 | n/a | n/a | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| TREASURY NOTE 3.375% 15/05/2033 | 3.75 |
| TREASURY BOND 1.375% 15/08/2050 | 3.65 |
| TREASURY BOND 1.25% 15/05/2050 | 3.58 |
| M&G (LUX) FCP Sterling Liquidity Fund Z6A Acc | 3.54 |
| TREASURY NOTE 2.375% 15/05/2029 | 3.16 |
| TREASURY NOTE 1.375% 15/11/2031 | 2.81 |
| TREASURY NOTE 0.625% 15/05/2030 | 2.79 |
| ⅞ Treasury 2046 | 2.79 |
| ⅝% Treasury Gilt 2050 | 2.52 |
| TREASURY BOND 1.75% 15/08/2041 | 2.28 |
| Total | 30.86 |
Fund Aims
Objective: The investment strategy of the fund is to purchase units in the M&G Optimal Income Fund - the underlying fund. Underlying Fund Objective: The Fund aims to provide a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than the average return of the composite index, over any five-year period. The composite index is made up of one third Bloomberg Global Treasury Index GBP Hedged, one third Bloomberg Global Aggregate Corporate Index GBP Hedged and one third Bloomberg Global High Yield Index GBP Hedged.
At least 50% of the fund is invested, directly or indirectly through derivatives, in debt securities, including investment grade bonds, below investment grade, unrated securities and Asset Backed Securities. These securities can be issued or guaranteed by governments and their agencies, public authorities, quasi-sovereigns, supranational bodies and companies from anywhere in the world, including Emerging Markets. These securities can be denominated in any currency. Other investments may include: - up to 20% of the fund in equities; and - other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G).
There are no credit quality restrictions applicable to the fund's investments. At least 80% of the fund is in sterling or hedged back to sterling. Derivatives may be used for investment purposes, efficient portfolio management and hedging.
The Fund is actively managed. The fund manager has complete freedom in choosing which investments to buy, hold and sell in the Fund.
Fund Manager
Richard Woolnough joined M&G in January 2004 and is fund manager of the M&G Optimal Income Fund, the M&G Corporate Bond Fund and the M&G Strategic Corporate Bond Fund, three of the company's flagship fixed interest funds. Richard began his career at Lloyds Merchant Bank in 1985, moving to Italian insurer Assicurazioni Generali two years later, followed by SG Warburg. In 1995, he became a fund manager at Old Mutual. Richard graduated from the London School of Economics with a BSc in economics.
Stefan Isaacs started at M&G in 2001 and was promoted to corporate bond dealer specialising in high yield bonds and euro denominated credit. He joined the fund management team in 2006 as an assistant fund manager covering high yield and European investment grade for M&G's fixed interest fund range. He was appointed fund manager of the M&G European Corporate Bond Fund in April 2007 and the M&G High Yield Corporate Bond Fund in October 2010. Stefan graduated from Manchester Metropolitan University with a degree in international business and French.
James Tomlins joined M&G in 2011 and was appointed fund manager of the M&G European High Yield Bond Fund later that year. In January 2014, he became co-manager of the M&G High Yield Corporate Bond Fund after two years being deputy manager on the fund. James is a specialist in high yield credit with more than 10 years’ experience in this sector. He was previously an analyst and then a fund manager at Cazenove Capital Management. Before Cazenove, James was at KBC Alternative Investment Management and in the three years prior to that worked at Merrill Lynch Investment Managers. James is a CFA charterholder. He holds an MA in history and PgDip in economics from the University of Cambridge.
Fund Overview
| Bid (23/12/2024) | 96.40 |
| Offer (23/12/2024) | 101.50 |
| Fund size (31/10/2024) | £2.31m |
| Underlying Fund size | £1573.67m |
| Number of holdings | 476 |
| Launch date | 11/08/2021 |
Fund Charges
| Annual Management Charge (AMC) | 1.225% |
| Further Costs | 0.000% |
| Yearly Total | 1.225% |
Asset Allocation
| International Bonds | 67.91% | |
| UK Gilts | 12.12% | |
| UK Corporate Bonds | 9.90% | |
| Alternative Trading Strategies | 1.89% | |
| International Equities | 0.56% | |
| Cash and Equivalents | 0.29% | |
| UK Equities | 0.23% | |
| Other Assets | 7.11% |
Important Information
Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with gross income reinvested. The value of your investment can go down as well as up so you might get back less than you put in.
This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Bonds | 67.91% | |
| UK Gilts | 12.12% | |
| UK Corporate Bonds | 9.90% | |
| Alternative Trading Strategies | 1.89% | |
| International Equities | 0.56% | |
| Cash and Equivalents | 0.29% | |
| UK Equities | 0.23% | |
| Other Assets | 7.11% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 89.93% | - | - | - | |
| Non-Classified | 7.11% | - | - | - | |
| Non-Classified | - | 3.54% | - | - | |
| Non-Classified | - | - | 3.54% | - | |
| Non-Classified | - | - | - | 3.54% | |
| Alternative Trading Strategies | 1.89% | - | - | - | |
| Alternative Trading Strategies | - | 1.89% | - | - | |
| Alternative Trading Strategies | - | - | 1.89% | - | |
| Alternative Trading Strategies | - | - | - | 1.89% | |
| Health Care | 0.46% | - | - | - | |
| Health Care | - | 0.46% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 0.46% | - | |
| Pharmaceuticals | - | - | - | 0.46% | |
| Cash and Equivalents | 0.29% | - | - | - | |
| Consumer Staples | 0.23% | - | - | - | |
| Food, Beverage & Tobacco | - | 0.23% | - | - | |
| Tobacco | - | - | 0.23% | - | |
| Tobacco | - | - | - | 0.23% | |
| Industrials | 0.09% | - | - | - | |
| Industrial Goods & Services | - | 0.09% | - | - | |
| Industrial Support Services | - | - | 0.09% | - | |
| Business Training & Employment Agencies | - | - | - | 0.09% | |
| Consumer Discretionary | 0.00% | - | - | - | |
| Travel & Leisure | - | 0.00% | - | - | |
| Travel & Leisure | - | - | 0.00% | - | |
| Casinos & Gambling | - | - | - | 0.00% | |
Regional Allocation
| North America | 37.59% | |
| Developed Europe - Excl UK | 22.56% | |
| UK | 22.25% | |
| Non-Classified | 12.43% | |
| South & Central America | 1.45% | |
| Australia & New Zealand | 1.43% | |
| Emerging Europe | 1.32% | |
| Japan | 0.43% | |
| Cash and Equivalents | 0.29% | |
| Other Regions | 0.25% |
Fixed Interest Currencies
| US Dollar | 38.30% | |
| Pound Sterling | 27.64% | |
| Euro | 23.57% | |
| Non-Fixed Interest Assets | 9.79% | |
| New Zealand Dollar | 0.41% | |
| Cash | 0.29% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| North America | 37.59% | - | |
United States
|
- | 36.90% | |
Canada
|
- | 0.69% | |
| Developed Europe - Excl UK | 22.56% | - | |
France
|
- | 6.59% | |
Spain
|
- | 2.95% | |
Italy
|
- | 2.69% | |
Germany
|
- | 2.62% | |
Netherlands
|
- | 2.36% | |
Ireland
|
- | 1.99% | |
Switzerland
|
- | 1.13% | |
Luxembourg
|
- | 0.59% | |
Finland
|
- | 0.43% | |
Belgium
|
- | 0.39% | |
Sweden
|
- | 0.34% | |
Denmark
|
- | 0.17% | |
Austria
|
- | 0.16% | |
Portugal
|
- | 0.16% | |
| UK | 22.25% | - | |
United Kingdom
|
- | 22.25% | |
| Non-Classified | 12.43% | - | |
| South & Central America | 1.45% | - | |
Mexico
|
- | 1.03% | |
Colombia
|
- | 0.42% | |
| Australia & New Zealand | 1.43% | - | |
Australia
|
- | 1.02% | |
New Zealand
|
- | 0.41% | |
| Emerging Europe | 1.32% | - | |
Serbia
|
- | 0.36% | |
Romania
|
- | 0.32% | |
Greece
|
- | 0.21% | |
Slovakia (Slovak Republic)
|
- | 0.19% | |
Hungary
|
- | 0.16% | |
Macedonia, The Former Yugoslav Republic Of
|
- | 0.08% | |
| Japan | 0.43% | - | |
Japan
|
- | 0.43% | |
| Cash and Equivalents | 0.29% | - | |
| Middle East & Africa | 0.16% | - | |
Cote D'Ivoire
|
- | 0.16% | |
South Africa
|
- | 0.00% | |
| Developed Asia | 0.10% | - | |
Singapore
|
- | 0.10% | |
Breakdown By Market Cap (%)
| Mega |
|
0.70% |
| Large |
|
0.09% |
| Non-Classified |
|
8.99% |
| Bonds |
|
89.93% |
| Cash |
|
0.29% |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
14.11% |
| 5Yr - 10Yr Maturity |
|
32.57% |
| 10Yr - 15Yr Maturity |
|
5.51% |
| > 15Yr Maturity |
|
37.73% |
| Cash And Equivalents |
|
0.29% |
| Unknown Maturity |
|
3.57% |
| Other Asset Types |
|
6.21% |
Fixed Interest Quality Profile
| AAA |
|
29.35% |
| AA |
|
15.96% |
| A |
|
11.84% |
| BBB |
|
21.03% |
| Sub-Investment Grade |
|
0.84% |
| Unknown Quality |
|
10.91% |
| Cash and Equivalents |
|
0.29% |
| Other Asset Types |
|
9.79% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | TREASURY NOTE 3.375% 15/05/2033 | 3.75% | Bonds | United States |
| 2 | TREASURY BOND 1.375% 15/08/2050 | 3.65% | Bonds | United States |
| 3 | TREASURY BOND 1.25% 15/05/2050 | 3.58% | Bonds | United States |
| 4 | M&G (LUX) FCP Sterling Liquidity Fund Z6A Acc | 3.54% | Managed Funds | Non-Classified |
| 5 | TREASURY NOTE 2.375% 15/05/2029 | 3.16% | Bonds | United States |
| 6 | TREASURY NOTE 1.375% 15/11/2031 | 2.81% | Bonds | United States |
| 7 | TREASURY NOTE 0.625% 15/05/2030 | 2.79% | Bonds | United States |
| 8 | ⅞ Treasury 2046 | 2.79% | Bonds | United Kingdom |
| 9 | ⅝% Treasury Gilt 2050 | 2.52% | Bonds | United Kingdom |
| 10 | TREASURY BOND 1.75% 15/08/2041 | 2.28% | Bonds | United States |
Important Information
Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use.
This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | BKTPHV5 |
| Mex Code | PUAABR |
| Isin Code | GB00BKTPHV53 |
| Citi Code | TZFL |
Fund Charges
| Annual Management Charge (AMC) | 1.225% |
| Further Costs | 0.000% |
| Yearly Total | 1.225% |
Aims and Benchmark
| Aims | Objective: The investment strategy of the fund is to purchase units in the M&G Optimal Income Fund - the underlying fund. Underlying Fund Objective: The Fund aims to provide a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than the average return of the composite index, over any five-year period. The composite index is made up of one third Bloomberg Global Treasury Index GBP Hedged, one third Bloomberg Global Aggregate Corporate Index GBP Hedged and one third Bloomberg Global High Yield Index GBP Hedged. At least 50% of the fund is invested, directly or indirectly through derivatives, in debt securities, including investment grade bonds, below investment grade, unrated securities and Asset Backed Securities. These securities can be issued or guaranteed by governments and their agencies, public authorities, quasi-sovereigns, supranational bodies and companies from anywhere in the world, including Emerging Markets. These securities can be denominated in any currency. Other investments may include: - up to 20% of the fund in equities; and - other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G). There are no credit quality restrictions applicable to the fund's investments. At least 80% of the fund is in sterling or hedged back to sterling. Derivatives may be used for investment purposes, efficient portfolio management and hedging. The Fund is actively managed. The fund manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. |
| Benchmark | A composite index made up of: • 1/3 Bloomberg Global Treasury Index GBP Hedged • 1/3 Bloomberg Global Aggregate Corporate Index GBP Hedged • 1/3 Bloomberg Global High Yield Index GBP Hedged |
| ABI Sector | Sterling Strategic Bond |
Ratings
| FE Crown |  |
Important Information
Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).
Charges and further costs may vary in the future and may be higher than they are now.
This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with gross income reinvested. The value of your investment can go down as well as up so you might get back less than you put in.
This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
"Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.