Prudential M&G Global High Yield Bond S3
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 | 0.7% | 0.8% | -10.6% | 5.0% | 8.9% |
| Sector | 2.0% | 2.5% | -8.9% | 5.9% | 9.2% |
| Rank | 28/29 | 27/29 | 24/29 | 22/29 | 23/29 |
| Quartile | 4 | 4 | 4 | 3 | 4 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/11/24 |
5 Years to 30/11/24 |
10 Years to 30/11/24 |
||
| Fund | 0.7% | 0.7% | 1.8% | |
| Sector | 1.7% | 1.9% | 2.5% | |
| Rank | 26/29 | 27/29 | 28/29 | |
| Quartile | 4 | 4 | 4 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| M&G (LUX) FCP Sterling Liquidity Fund Z6A Acc | 3.77 |
| PETROLEOS MEXICANOS 6.5% 13/03/2027 | 1.14 |
| MPT OPERATING PARTNERSHIP LP / MPT 3.325% 24/03/2025 | 0.95 |
| TRANSOCEAN INC 8.25% 15/05/2029 | 0.95 |
| AES CORPORATION (THE) 15/01/2055 | 0.78 |
| MAGNERA CORP 4.75% 15/11/2029 | 0.75 |
| DISH NETWORK CORP 11.75% 15/11/2027 | 0.73 |
| CONTINENTAL RESOURCES INC 5.75% 15/01/2031 | 0.68 |
| PETROLEOS MEXICANOS 6.625% 15/06/2035 | 0.67 |
| TREASURY NOTE 3.25% 30/06/2027 | 0.66 |
| Total | 11.09 |
Fund Aims
Objective: The investment strategy of the fund is to purchase units in the M&G Global High Yield Bond 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 that of the ICE BofAML Global High Yield Index (GBP Hedged) over any five-year period. At least 80% of the fund is invested, directly or indirectly through derivatives, in below investment grade corporate debt securities, These securities can be issued by companies from anywhere in the world, including Emerging Markets.
Other investments may include: - Asset-Backed Securities, and - other transferable securities, government bonds, 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. The fund aims to hedge any non-sterling assets back to sterling. Derivatives may be used for investment purposes, efficient portfolio management and hedging.
Fund Manager
Luke Coha was appointed deputy fund manager on the M&G Global High Yield Bond Fund in January 2018. He initially joined the M&G Retail Fixed Interest team in April 2014 as a high yield specialist focused on the US high yield bond market. Prior to joining M&G, Luke spent eight years at Fitch Ratings in the US as a lead healthcare analyst and before that, six years with Coopers & Lybrand Consulting as a management consultant to hospitals, health systems and physician organisations. Luke is an MBA graduate from De Paul University (Kellstad Graduate School of Business), having previously obtained a business degree at the University of Iowa.
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 (20/12/2024) | 195.90 |
| Offer (20/12/2024) | 195.90 |
| Fund size (31/10/2024) | £10.99m |
| Underlying Fund size | £1055.05m |
| Number of holdings | 370 |
| Launch date | 01/04/2003 |
Fund Charges
| Annual Management Charge (AMC) | 1.55% |
| Further Costs | 0.01% |
| Yearly Total | 1.56% |
Asset Allocation
| International Bonds | 88.45% | |
| Alternative Trading Strategies | 7.46% | |
| UK Corporate Bonds | 7.17% | |
| International Equities | 0.01% | |
| UK Equities | 0.00% | |
| Cash and Equivalents | -8.23% | |
| Other Assets | 5.14% |
Important Information
Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.
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 net 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 | 88.45% | |
| Alternative Trading Strategies | 7.46% | |
| UK Corporate Bonds | 7.17% | |
| International Equities | 0.01% | |
| UK Equities | 0.00% | |
| Cash and Equivalents | -8.23% | |
| Other Assets | 5.14% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 95.62% | - | - | - | |
| Alternative Trading Strategies | 7.46% | - | - | - | |
| Alternative Trading Strategies | - | 7.46% | - | - | |
| Alternative Trading Strategies | - | - | 7.46% | - | |
| Alternative Trading Strategies | - | - | - | 7.46% | |
| Non-Classified | 5.14% | - | - | - | |
| Non-Classified | - | 3.77% | - | - | |
| Non-Classified | - | - | 3.77% | - | |
| Non-Classified | - | - | - | 3.77% | |
| Consumer Staples | 0.00% | - | - | - | |
| Personal Care, Drug & Grocery Stores | - | 0.00% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 0.00% | - | |
| Food Retailers & Wholesalers | - | - | - | 0.00% | |
| Real Estate | 0.00% | - | - | - | |
| Real Estate | - | 0.00% | - | - | |
| Real Estate Investment & Services | - | - | 0.00% | - | |
| Real Estate Holding and Development | - | - | - | 0.00% | |
| Consumer Discretionary | 0.00% | - | - | - | |
| Travel & Leisure | - | 0.00% | - | - | |
| Travel & Leisure | - | - | 0.00% | - | |
| Casinos & Gambling | - | - | - | 0.00% | |
| Cash and Equivalents | -8.23% | - | - | - | |
Regional Allocation
| North America | 57.81% | |
| Developed Europe - Excl UK | 22.72% | |
| Non-Classified | 14.93% | |
| UK | 7.17% | |
| South & Central America | 3.97% | |
| Japan | 0.70% | |
| Emerging Europe | 0.48% | |
| Developed Asia | 0.32% | |
| Emerging Asia | 0.12% | |
| Cash and Equivalents | -8.23% |
Fixed Interest Currencies
| US Dollar | 62.70% | |
| Euro | 25.87% | |
| Non-Fixed Interest Assets | 12.61% | |
| Pound Sterling | 7.05% | |
| Cash | -8.23% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| North America | 57.81% | - | |
United States
|
- | 57.29% | |
Canada
|
- | 0.52% | |
| Developed Europe - Excl UK | 22.72% | - | |
Germany
|
- | 4.61% | |
France
|
- | 4.45% | |
Netherlands
|
- | 3.48% | |
Luxembourg
|
- | 3.32% | |
Italy
|
- | 1.63% | |
Sweden
|
- | 1.44% | |
Spain
|
- | 1.34% | |
Austria
|
- | 1.07% | |
Finland
|
- | 0.53% | |
Switzerland
|
- | 0.39% | |
Norway
|
- | 0.30% | |
Ireland
|
- | 0.15% | |
| Non-Classified | 14.93% | - | |
| UK | 7.17% | - | |
United Kingdom
|
- | 7.17% | |
| South & Central America | 3.97% | - | |
Mexico
|
- | 2.60% | |
Colombia
|
- | 1.03% | |
Brazil
|
- | 0.34% | |
| Japan | 0.70% | - | |
Japan
|
- | 0.70% | |
| Emerging Europe | 0.48% | - | |
Poland
|
- | 0.48% | |
| Developed Asia | 0.32% | - | |
Hong Kong
|
- | 0.26% | |
Singapore
|
- | 0.06% | |
| Emerging Asia | 0.12% | - | |
Macau
|
- | 0.09% | |
China
|
- | 0.03% | |
| Cash and Equivalents | -8.23% | - | |
Breakdown By Market Cap (%)
| Non-Classified |
|
12.61% |
| Bonds |
|
95.62% |
| Cash |
|
-8.23% |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
56.44% |
| 5Yr - 10Yr Maturity |
|
30.03% |
| 10Yr - 15Yr Maturity |
|
1.49% |
| > 15Yr Maturity |
|
7.66% |
| Cash And Equivalents |
|
-8.23% |
| Unknown Maturity |
|
1.37% |
| Other Asset Types |
|
11.24% |
Fixed Interest Quality Profile
| AAA |
|
0.66% |
| A |
|
0.29% |
| BBB |
|
6.73% |
| Sub-Investment Grade |
|
62.47% |
| Unknown Quality |
|
25.47% |
| Cash and Equivalents |
|
-8.23% |
| Other Asset Types |
|
12.61% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | M&G (LUX) FCP Sterling Liquidity Fund Z6A Acc | 3.77% | Managed Funds | Non-Classified |
| 2 | PETROLEOS MEXICANOS 6.5% 13/03/2027 | 1.14% | Bonds | Mexico |
| 3 | MPT OPERATING PARTNERSHIP LP / MPT 3.325% 24/03/2025 | 0.95% | Bonds | United States |
| 4 | TRANSOCEAN INC 8.25% 15/05/2029 | 0.95% | Bonds | United States |
| 5 | AES CORPORATION (THE) 15/01/2055 | 0.78% | Bonds | United States |
| 6 | MAGNERA CORP 4.75% 15/11/2029 | 0.75% | Bonds | United States |
| 7 | DISH NETWORK CORP 11.75% 15/11/2027 | 0.73% | Bonds | United States |
| 8 | CONTINENTAL RESOURCES INC 5.75% 15/01/2031 | 0.68% | Bonds | United States |
| 9 | PETROLEOS MEXICANOS 6.625% 15/06/2035 | 0.67% | Bonds | United States |
| 10 | TREASURY NOTE 3.25% 30/06/2027 | 0.66% | Bonds | United States |
Important Information
Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.
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 | 3280285 |
| Mex Code | VNCB3 |
| Isin Code | GB0032802851 |
| Citi Code | P186 |
Fund Charges
| Annual Management Charge (AMC) | 1.55% |
| Further Costs | 0.01% |
| Yearly Total | 1.56% |
Aims and Benchmark
| Aims | Objective: The investment strategy of the fund is to purchase units in the M&G Global High Yield Bond 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 that of the ICE BofAML Global High Yield Index (GBP Hedged) over any five-year period. At least 80% of the fund is invested, directly or indirectly through derivatives, in below investment grade corporate debt securities, These securities can be issued by companies from anywhere in the world, including Emerging Markets. Other investments may include: - Asset-Backed Securities, and - other transferable securities, government bonds, 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. The fund aims to hedge any non-sterling assets back to sterling. Derivatives may be used for investment purposes, efficient portfolio management and hedging. |
| Benchmark | IA Sterling High Yield Sector Average |
| ABI Sector | Sterling High Yield |
Ratings
| FE Crown |  |
Important Information
Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.
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
Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.
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 net 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.