M&G Absolute Return Bond - CLOSED Class I GBP Inc

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

Performance

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Top 10 Holdings

Stock % Weight
JAPAN (GOVERNMENT OF) 0.1% 10/03/2029 3.42
BANCO DE SABADELL SA 0.875% 16/06/2028 2.31
M&G (LUX) STERL LIQ FD - GBPZ6A DI GBP CLOSED-END 2.30
HARVEST CLO VIII LTD HARVT_8X 3.907% 15/01/2031 2.25
AUSTRALIA (COMMONWEALTH OF) 1.75% 21/06/2051 1.90
SES SA 2.875% PERP 1.80
VOLKSWAGEN FINANCIAL SERVICES AG 0.125% 12/02/2027 1.79
ILIAD SA 1.875% 11/02/2028 1.77
BP CAPITAL MARKETS PLC 1.104% 15/11/2034 1.77
SVENSKA HANDELSBANKEN AB 0.01% 02/12/2027 1.74
Total 21.06

Fund Aims

The Fund aims to achieve a total return (the combination of income and capital growth) of at least 2.5% per annum above the Sterling Overnight Index Average (SONIA), before any charges are taken, in any market conditions and over any three year period. The Fund aims to achieve this while seeking to minimise the degree to which the value of the Fund fluctuates over time (volatility), while also seeking to limit monthly losses. Managing the Fund in this way reduces its ability to achieve returns significantly above SONIA plus 2.5%. There is no guarantee that the Fund will achieve a positive return over three years, or any other period, and investors may not get back the original amount they invested.

Fund Manager

Jim Leaviss manager for 8 years and 4 months

Photo of Jim Leaviss Jim Leaviss is Head of Retail Fixed Interest for M&G’s mutual fund range. He joined M&G in 1997 after five years at the Bank of England. As well as heading up the team, Jim is the fund manager of the M&G Global Macro Bond Fund and the M&G European Inflation Linked Corporate Bond Fund. He is also deputy manager of the M&G Gilt and Fixed Interest Income Fund, the M&G Index-Linked Bond Fund and the M&G UK Inflation Linked Corporate Bond Fund.

Wolfgang Bauer manager for 8 years and 4 months

Photo of Wolfgang Bauer Wolfgang Bauer is co-manager of the M&G Absolute Return Bond Fund and deputy fund manager of the M&G Global Corporate Bond Fund and the M&G European Corporate Bond Fund. In January 2018, he was appointed fund manager of the M&G European Inflation Linked Corporate Bond Fund and deputy fund manager of the M&G UK Inflation Linked Corporate Bond Fund. Wolfgang joined M&G in 2012 as part of the Investment Graduate Programme. He joined the M&G Retail Fixed Interest team from the Real Estate Finance team in January 2014, focusing on US investment grade credit. Wolfgang gained a PhD in chemistry from the University of Cambridge and also holds the Investment Management Certificate (IMC) and is a CFA charterholder.

Fund Overview

Mid (13/07/2023) 93.67
Distribution yield 2.73%
Underlying yield 2.28%
Fund size (30/06/2023) £12.42m
Number of holdings 146
Entry Charge 0.00%
Ongoing Charges 0.45%
Launch date 13/12/2016

Asset Allocation

pie chart
  International Bonds 77.11%
  Alternative Trading Strategies 44.82%
  UK Corporate Bonds 12.38%
  Cash and Equivalents -1.93%
  Other Assets -32.38%
Portfolio data accurate as at: 30/06/23

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

pie chart
  International Bonds 77.11%
  Alternative Trading Strategies 44.82%
  UK Corporate Bonds 12.38%
  Cash and Equivalents -1.93%
  Other Assets -32.38%

Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
 Bonds 89.49% - - -
 
 Alternative Trading Strategies 44.82% - - -
 
 Alternative Trading Strategies - 44.82% - -
 
 Alternative Trading Strategies - - 44.82% -
 
 Alternative Trading Strategies - - - 44.82%
 
 Cash and Equivalents -1.93% - - -
 
 Non-Classified -32.38% - - -
 
 Non-Classified - 2.30% - -
 
 Non-Classified - - 2.30% -
 
 Non-Classified - - - 2.30%

Regional Allocation

pie chart
  Developed Europe - Excl UK 43.19%
  Non-Classified 19.89%
  North America 13.01%
  UK 12.38%
  South & Central America 5.28%
  Japan 3.42%
  Australia & New Zealand 1.90%
  Middle East & Africa 1.75%
  Emerging Europe 1.10%
  Cash and Equivalents -1.93%

Fixed Interest Currencies

pie chart
  Euro 56.14%
  Pound Sterling 14.26%
  US Dollar 13.05%
  Non-Fixed Interest Assets 12.44%
  Yen 3.42%
  Mexican Peso 1.28%
  Other Currencies -0.60%

Regional Breakdown

Expand allCollapse all
Region Country
 
 Developed Europe - Excl UK 43.19% -
 
 Luxembourg - 8.11%
 
 France - 7.88%
 
 Germany - 7.03%
 
 Netherlands - 6.14%
 
 Ireland - 2.97%
 
 Spain - 2.85%
 
 Sweden - 2.61%
 
 Belgium - 1.66%
 
 Switzerland - 1.65%
 
 Iceland - 0.91%
 
 Norway - 0.77%
 
 Portugal - 0.61%
 
 Non-Classified 19.89% -
 
 North America 13.01% -
 
 United States - 13.01%
 
 UK 12.38% -
 
 United Kingdom - 12.38%
 
 South & Central America 5.28% -
 
 Mexico - 5.00%
 
 Colombia - 0.28%
 
 Japan 3.42% -
 
 Japan - 3.42%
 
 Australia & New Zealand 1.90% -
 
 Australia - 1.90%
 
 Middle East & Africa 1.75% -
 
 United Arab Emirates - 1.17%
 
 Egypt - 0.58%
 
 Emerging Europe 1.10% -
 
 Romania - 0.63%
 
 Russian Federation - 0.28%
 
 Ukraine - 0.19%
 
 Cash and Equivalents -1.93% -

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
33.84%
5Yr - 10Yr Maturity
 
 
37.19%
10Yr - 15Yr Maturity
 
 
4.20%
> 15Yr Maturity
 
 
14.25%
Cash And Equivalents
 
-1.93%
Unknown Maturity
 
-34.69%
Other Asset Types
 
 
47.12%

Fixed Interest Quality Profile

AAA
 
 
7.37%
AA
 
 
1.76%
A
 
 
16.24%
BBB
 
 
22.62%
Sub-Investment Grade
 
 
8.13%
Unknown Quality
 
 
33.37%
Cash and Equivalents
 
-1.93%
Other Asset Types
 
 
12.44%

Top 10 Holdings

Stock % Weight Sector Country
1 JAPAN (GOVERNMENT OF) 0.1% 10/03/2029 3.42% Bonds Japan
2 BANCO DE SABADELL SA 0.875% 16/06/2028 2.31% Bonds Spain
3 M&G (LUX) STERL LIQ FD - GBPZ6A DI GBP CLOSED-END 2.30% Managed Funds Non-Classified
4 HARVEST CLO VIII LTD HARVT_8X 3.907% 15/01/2031 2.25% Bonds Ireland
5 AUSTRALIA (COMMONWEALTH OF) 1.75% 21/06/2051 1.90% Bonds Australia
6 SES SA 2.875% PERP 1.80% Bonds Luxembourg
7 VOLKSWAGEN FINANCIAL SERVICES AG 0.125% 12/02/2027 1.79% Bonds Non-Classified
8 ILIAD SA 1.875% 11/02/2028 1.77% Bonds France
9 BP CAPITAL MARKETS PLC 1.104% 15/11/2034 1.77% Bonds United Kingdom
10 SVENSKA HANDELSBANKEN AB 0.01% 02/12/2027 1.74% Bonds Sweden

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 BD6FFP9
Mex Code -
Isin Code GB00BD6FFP95
Citi Code NIJE

Fund Charges

Entry Charge 0.00%
Ongoing Charges 0.45%

Aims and Benchmark

Aims The Fund aims to achieve a total return (the combination of income and capital growth) of at least 2.5% per annum above the Sterling Overnight Index Average (SONIA), before any charges are taken, in any market conditions and over any three year period. The Fund aims to achieve this while seeking to minimise the degree to which the value of the Fund fluctuates over time (volatility), while also seeking to limit monthly losses. Managing the Fund in this way reduces its ability to achieve returns significantly above SONIA plus 2.5%. There is no guarantee that the Fund will achieve a positive return over three years, or any other period, and investors may not get back the original amount they invested.
Benchmark SONIA + 2.5%
Benchmark Category Target
IA Sector Absolute Return

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 Biannually
Distribution Type Interest
Distribution Payment Basis Net

Distribution Dates

Ex dividend date(s) Income payment date(s)
01 April 31 May
01 October 30 November

Ratings

FE Crown Crown Rating of 2

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 3 days
Settlement Period: Sell 3 days
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.