The Fund aims to provide a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than that of the ICE BofAML Global Floating Rate High Yield Index (3% constrained) USD Hedged over any five-year period.
Fund Manager
James Tomlinsmanager
for
9 years
and 11 months
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
Mid (30/08/2024)
128.90p
Distribution yield
7.70%
Underlying yield
7.70%
Fund size (31/05/2024)
£265.03m
Number of holdings
244
Entry Charge
0.00%
Ongoing Charges
0.53%
Launch date
11/09/2014
Asset Allocation
International Bonds
87.21%
Alternative Trading Strategies
9.64%
UK Corporate Bonds
7.21%
Cash and Equivalents
-8.82%
Other Assets
4.76%
Portfolio data accurate as at: 31/05/24
Important Information
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 ongoing charges, but take no account of product charges. Ongoing charges 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 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.
Portfolio data accurate as at:
Asset Allocation
International Bonds
87.21%
Alternative Trading Strategies
9.64%
UK Corporate Bonds
7.21%
Cash and Equivalents
-8.82%
Other Assets
4.76%
Bond Sector Breakdown
Expand allCollapse all
Industry
Supersector
Sector
Subsector
Bonds
94.42%
-
-
-
Alternative Trading Strategies
9.64%
-
-
-
Alternative Trading Strategies
-
9.64%
-
-
Alternative Trading Strategies
-
-
9.64%
-
Alternative Trading Strategies
-
-
-
9.64%
Non-Classified
4.76%
-
-
-
Cash and Equivalents
-8.82%
-
-
-
Regional Allocation
Developed Europe - Excl UK
65.98%
Non-Classified
20.96%
North America
14.30%
UK
7.58%
Cash and Equivalents
-8.82%
Fixed Interest Currencies
Euro
81.77%
Non-Fixed Interest Assets
14.40%
US Dollar
11.67%
Pound Sterling
0.98%
Cash
-8.82%
Regional Breakdown
Expand allCollapse all
Region
Country
Developed Europe - Excl UK
65.98%
-
Italy
-
36.21%
Luxembourg
-
9.65%
France
-
6.53%
Netherlands
-
5.48%
Germany
-
4.89%
Sweden
-
2.13%
Denmark
-
1.10%
Non-Classified
20.96%
-
North America
14.30%
-
United States
-
14.30%
UK
7.58%
-
United Kingdom
-
7.21%
Jersey
-
0.37%
Cash and Equivalents
-8.82%
-
Fixed Interest Maturity Profile
< 5Yr Maturity
76.30%
5Yr - 10Yr Maturity
14.28%
> 15Yr Maturity
3.83%
Cash And Equivalents
-8.82%
Unknown Maturity
4.76%
Other Asset Types
9.64%
Fixed Interest Quality Profile
AAA
8.60%
Sub-Investment Grade
11.51%
Unknown Quality
74.31%
Cash and Equivalents
-8.82%
Other Asset Types
14.40%
Top 10 Holdings
Stock
% Weight
Sector
Country
1
TREASURY FLOATING RATE NOTE 31/10/2024
3.85%
Bonds
United States
2
BRUNELLO BIDCO SPA 15/02/2028
3.33%
Bonds
Italy
3
CEDACRI MERGECO SPA 15/05/2028
3.23%
Bonds
Italy
4
TREASURY FLOATING RATE NOTE 31/10/2025
3.21%
Bonds
United States
5
PAGANINI BIDCO SPA 30/10/2028
3.01%
Bonds
Italy
6
CASTOR SPA 15/02/2029
2.87%
Bonds
Italy
7
LION POLARIS LUX 4 SA 01/07/2026
2.69%
Bonds
Luxembourg
8
KAPLA HOLDING SAS 31/07/2030
2.27%
Bonds
France
9
MOONEY GROUP SPA 17/12/2026
2.26%
Bonds
Italy
10
888 ACQUISITIONS LTD 15/07/2028
2.08%
Bonds
Non-Classified
Important Information
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
BG03YC0
Mex Code
-
Isin Code
GB00BG03YC01
Citi Code
Q4R1
Fund Charges
Entry Charge
0.00%
Ongoing Charges
0.53%
Aims and Benchmark
Aims
The Fund aims to provide a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than that of the ICE BofAML Global Floating Rate High Yield Index (3% constrained) USD Hedged over any five-year period.
Benchmark
ICE BofAML Global Floating Rate High Yield Index (3% constrained) USD Hedged
Benchmark Category
Comparator
IA Sector
£ High Yield
Fund Background
Valuation frequency
Daily
Valuation point
12:00
Fund type
OEIC
Launch price
$1.00
Fund currency
Pound Sterling
Fund domicile
United Kingdom
ISA allowable
Yes
SIPP allowable
Yes
Distribution Details
Income frequency
Annually
Distribution Type
Interest
Distribution Payment Basis
Net
Ratings
FE Crown
Effect of Deductions
Assuming a growth rate of 6.00%
Assuming a growth rate of 7.00%
-
-
Fund Administration
Fund Trustee/Depository
The National Westminster Bank plc
Fund Administrator
IFDS
Fund Registrar
IFDS
Fund Custodian
State Street Bank and Trust Company
Group Details
Group name
M&G Investments
Group address
10 Fenchurch Avenue
London
EC3M 5AG
United Kingdom
Group telephone
0800 390 390
Dealing telephone
0800 328 3196
Email
info@mandg.co.uk
Homepage
www.mandg.co.uk
Fax number
-
Dealing
Minimum Investment
-
Minimum Top Up
-
Minimum Regular Saving
-
Settlement Period: Buy
-
Settlement Period: Sell
-
Pricing Basis
None
Dealing Decimals
-
Important Information
Ongoing charges 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
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 ongoing charges, but take no account of product charges. Ongoing charges 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 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.