PIA M&G Corporate Bond Ser B

Essentials Portfolio Analysis Background Data Performance View PDF Factsheet
Portfolio data accurate as at:

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 4.9% -0.4% -15.2% 2.7% 6.7%
Sector 5.4% -0.7% -15.0% 1.7% 6.3%
Rank 30/41 16/42 16/42 16/43 23/43
Quartile 3 2 2 2 3

Annualised performance

Annualised
3 Years to
30/11/24
5 Years to
30/11/24
10 Years to
30/11/24
Fund -2.4% -0.6% 1.6%
Sector -2.8% -0.8% 1.4%
Rank 16/42 15/41 15/27
Quartile 2 2 3

Top 10 Holdings

Stock % Weight
4% Treasury Gilt 2063 4.23
⅝% Treasury Gilt 2050 3.17
M&G (LUX) FCP Sterling Liquidity Fund Z6A Acc 2.43
IMPERIAL BRANDS FINANCE PLC 4.875% 07/06/2032 1.72
EUROPEAN INVESTMENT BANK 4.875% 16/12/2030 1.66
KFW 4.875% 03/02/2031 1.65
BAT INTERNATIONAL FINANCE PLC 4.125% 12/04/2032 1.65
1½% Green Gilt 2053 1.58
AT&T INC 4.375% 14/09/2029 1.51
APPLE INC 3.05% 31/07/2029 1.47
Total 21.07

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the M&G Corporate 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 the average return of the iBoxx Sterling Corporates GBP Index over any five-year period. At least 70% of the fund is invested, directly or indirectly through derivatives, in investment grade corporate debt securities including investment grade Asset-Backed Securities. These securities can be issued by companies from anywhere in the world, including Emerging Markets. These securities are denominated in sterling or hedged back to sterling. Other investments may include: 1. debt securities issued or guaranteed by governments and their agencies, public authorities, quasi-sovereigns and supranational bodies, denominated in any currency; 2. below investment grade and unrated debt securities;3. below investment grade and unrated Asset-Backed Securities; 4. other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G). Investments in Asset-Backed Securities are limited to 20% of the fund. Derivatives may be used for investment purposes, efficient portfolio management and hedging.

Fund Manager

Richard Woolnough manager of the underlying fund for 20 years and 9 months

Photo of Richard Woolnough 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.

Ben Lord manager of the underlying fund for 4 years and 11 months

Photo of Ben Lord Ben Lord joined M&G in 2007 and was appointed fund manager of the M&G Global Corporate Bond Fund from launch in September 2013. He is also fund manager of the M&G UK Inflation Linked Corporate Bond Fund and deputy manager of the M&G European Inflation Linked Corporate Bond Fund, the M&G Strategic Corporate Bond Fund, the M&G Corporate Bond Fund and the M&G Short Dated Corporate Bond Fund. Ben previously worked at Gordian Knot as a credit analyst covering global financial institutions. He obtained an MA (Hons) from the University of Edinburgh and is a CFA charterholder.

Fund Overview

Bid (20/12/2024) 2.32
Offer (20/12/2024) 2.44
Fund size (31/10/2024) £4.94m
Underlying Fund size £1309.94m
Number of holdings 280
Launch date 09/04/2003

Fund Charges

Annual Management Charge (AMC) 1.30%
Further Costs 0.02%
Yearly Total 1.32%

Asset Allocation

pie chart
  International Bonds 48.17%
  UK Corporate Bonds 29.57%
  UK Gilts 11.87%
  Cash and Equivalents 5.94%
  Alternative Trading Strategies -4.57%
  Other Assets 9.02%
Portfolio data accurate as at: 30/09/24

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 the fund's currency of denomination 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.

Portfolio data accurate as at:

Asset Allocation

pie chart
  International Bonds 48.17%
  UK Corporate Bonds 29.57%
  UK Gilts 11.87%
  Cash and Equivalents 5.94%
  Alternative Trading Strategies -4.57%
  Other Assets 9.02%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Bonds 89.61% - - -
 
Non-Classified 9.02% - - -
 
Non-Classified - 2.43% - -
 
Non-Classified - - 2.43% -
 
Non-Classified - - - 2.43%
 
Cash and Equivalents 5.94% - - -
 
Alternative Trading Strategies -4.57% - - -
 
Alternative Trading Strategies - -4.57% - -
 
Alternative Trading Strategies - - -4.57% -
 
Alternative Trading Strategies - - - -4.57%

Regional Allocation

pie chart
  UK 41.44%
  North America 19.88%
  Developed Europe - Excl UK 18.57%
  Non-Classified 11.22%
  Cash and Equivalents 5.94%
  Australia & New Zealand 1.74%
  South & Central America 0.83%
  Japan 0.39%

Fixed Interest Currencies

pie chart
  Pound Sterling 79.67%
  US Dollar 6.37%
  Cash 5.94%
  Non-Fixed Interest Assets 4.45%
  Euro 3.57%

Regional Breakdown

Expand allCollapse all
Region Country
 
UK 41.44% -
 
United Kingdom - 41.44%
 
North America 19.88% -
 
United States - 17.45%
 
Canada - 2.43%
 
Developed Europe - Excl UK 18.57% -
 
France - 5.89%
 
Netherlands - 3.21%
 
Luxembourg - 2.29%
 
Germany - 1.86%
 
Spain - 1.78%
 
Switzerland - 1.30%
 
Italy - 1.07%
 
Ireland - 0.35%
 
Denmark - 0.29%
 
Finland - 0.28%
 
Belgium - 0.16%
 
Sweden - 0.09%
 
Non-Classified 11.22% -
 
Cash and Equivalents 5.94% -
 
Australia & New Zealand 1.74% -
 
Australia - 1.74%
 
South & Central America 0.83% -
 
Mexico - 0.83%
 
Japan 0.39% -
 
Japan - 0.39%

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
24.93%
5Yr - 10Yr Maturity
 
 
32.70%
10Yr - 15Yr Maturity
 
 
9.56%
> 15Yr Maturity
 
 
22.43%
Cash And Equivalents
 
 
5.94%
Unknown Maturity
 
 
6.58%
Other Asset Types
 
-2.13%

Fixed Interest Quality Profile

AAA
 
 
14.98%
AA
 
 
16.34%
A
 
 
14.88%
BBB
 
 
39.81%
Sub-Investment Grade
 
 
0.11%
Unknown Quality
 
 
3.49%
Cash and Equivalents
 
 
5.94%
Other Asset Types
 
 
4.45%

Top 10 Holdings

Stock % Weight Sector Country
1 4% Treasury Gilt 2063 4.23% Bonds United Kingdom
2 ⅝% Treasury Gilt 2050 3.17% Bonds United Kingdom
3 M&G (LUX) FCP Sterling Liquidity Fund Z6A Acc 2.43% Managed Funds Non-Classified
4 IMPERIAL BRANDS FINANCE PLC 4.875% 07/06/2032 1.72% Bonds United Kingdom
5 EUROPEAN INVESTMENT BANK 4.875% 16/12/2030 1.66% Bonds Luxembourg
6 KFW 4.875% 03/02/2031 1.65% Bonds Germany
7 BAT INTERNATIONAL FINANCE PLC 4.125% 12/04/2032 1.65% Bonds United Kingdom
8 1½% Green Gilt 2053 1.58% Bonds United Kingdom
9 AT&T INC 4.375% 14/09/2029 1.51% Bonds United States
10 APPLE INC 3.05% 31/07/2029 1.47% 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 3283035
Mex Code SBMGC
Isin Code IE0032830352
Citi Code S778

Fund Charges

Annual Management Charge (AMC) 1.30%
Further Costs 0.02%
Yearly Total 1.32%

Aims and Benchmark

Aims Objective: The investment strategy of the fund is to purchase units in the M&G Corporate 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 the average return of the iBoxx Sterling Corporates GBP Index over any five-year period. At least 70% of the fund is invested, directly or indirectly through derivatives, in investment grade corporate debt securities including investment grade Asset-Backed Securities. These securities can be issued by companies from anywhere in the world, including Emerging Markets. These securities are denominated in sterling or hedged back to sterling. Other investments may include: 1. debt securities issued or guaranteed by governments and their agencies, public authorities, quasi-sovereigns and supranational bodies, denominated in any currency; 2. below investment grade and unrated debt securities;3. below investment grade and unrated Asset-Backed Securities; 4. other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G). Investments in Asset-Backed Securities are limited to 20% of the fund. Derivatives may be used for investment purposes, efficient portfolio management and hedging.
Benchmark iBoxx Sterling Corporates GBP Index
ABI Sector Sterling Corporate Bond

Ratings

FE Crown Crown Rating of 3

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 the fund's currency of denomination 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.

The registered office of Prudential International is in Ireland at Fitzwilliam Court, Leeson Cl, Dublin 2, D02 TC95. Prudential International is a marketing name of Prudential International Assurance plc, a life assurance company operating from Ireland. Registration No. 209956. Prudential International Assurance plc is authorised and regulated by the Central Bank of Ireland and in the context of its UK regulated activities only, is authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Prudential International is part of the same corporate group as The Prudential Assurance Company Limited. Both The Prudential Assurance Company Limited and Prudential International are direct and indirect subsidiaries respectively of M&G plc, a company incorporated in the United Kingdom. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.