CIFC EUROPEAN FUNDING CLO V DAC CIFCE_5X 4.167% 15/11/2034
1.06
BANK OF AMERICA CORP 0.583% 24/08/2028
1.06
ALSTRIA OFFICE REIT-AG 1.5% 15/11/2027
1.02
Total
39.39
Fund 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 Euro Corporate Index over any five-year period.
Fund Manager
Stefan Isaacsmanager
for
18 years
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
Mid (09/06/2023)
1035.83p
Distribution yield
2.54%
Underlying yield
2.19%
Fund size (31/05/2023)
£36.81m
Number of holdings
239
Entry Charge
0.00%
Ongoing Charges
0.35%
Launch date
13/01/2003
Asset Allocation
International Bonds
80.92%
UK Corporate Bonds
8.53%
Cash and Equivalents
0.40%
Alternative Trading Strategies
-23.27%
Other Assets
33.42%
Portfolio data accurate as at: 31/05/23
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
International Bonds
80.92%
UK Corporate Bonds
8.53%
Cash and Equivalents
0.40%
Alternative Trading Strategies
-23.27%
Other Assets
33.42%
Bond Sector Breakdown
Expand allCollapse all
Industry
Supersector
Sector
Subsector
Bonds
89.45%
-
-
-
Non-Classified
33.42%
-
-
-
Non-Classified
-
4.02%
-
-
Non-Classified
-
-
4.02%
-
Non-Classified
-
-
-
4.02%
Cash and Equivalents
0.40%
-
-
-
Alternative Trading Strategies
-23.27%
-
-
-
Alternative Trading Strategies
-
-23.27%
-
-
Alternative Trading Strategies
-
-
-23.27%
-
Alternative Trading Strategies
-
-
-
-23.27%
Regional Allocation
Developed Europe - Excl UK
60.65%
North America
13.85%
Non-Classified
13.88%
UK
8.53%
Australia & New Zealand
1.31%
Japan
0.90%
Developed Asia
0.48%
Cash and Equivalents
0.40%
Fixed Interest Currencies
Euro
79.07%
Non-Fixed Interest Assets
10.15%
US Dollar
9.30%
Pound Sterling
1.08%
Cash
0.40%
Regional Breakdown
Expand allCollapse all
Region
Country
Developed Europe - Excl UK
60.65%
-
France
-
16.12%
Germany
-
11.38%
Netherlands
-
10.49%
Luxembourg
-
6.82%
Ireland
-
3.60%
Spain
-
2.81%
Italy
-
2.73%
Switzerland
-
2.48%
Belgium
-
1.31%
Sweden
-
0.88%
Iceland
-
0.55%
Austria
-
0.52%
Norway
-
0.52%
Denmark
-
0.30%
Finland
-
0.14%
North America
13.85%
-
United States
-
13.10%
Canada
-
0.74%
Non-Classified
13.88%
-
UK
8.53%
-
United Kingdom
-
8.53%
Australia & New Zealand
1.31%
-
Australia
-
1.31%
Japan
0.90%
-
Japan
-
0.90%
Developed Asia
0.48%
-
Singapore
-
0.48%
Cash and Equivalents
0.40%
-
Fixed Interest Maturity Profile
< 5Yr Maturity
31.97%
5Yr - 10Yr Maturity
42.17%
10Yr - 15Yr Maturity
6.12%
> 15Yr Maturity
9.18%
Cash And Equivalents
0.40%
Unknown Maturity
29.40%
Other Asset Types
-19.25%
Fixed Interest Quality Profile
AAA
4.65%
AA
6.17%
A
15.33%
BBB
21.47%
Sub-Investment Grade
2.94%
Unknown Quality
38.88%
Cash and Equivalents
0.40%
Other Asset Types
10.15%
Top 10 Holdings
Stock
% Weight
Sector
Country
1
EURO-SCHATZ JUN 23 EUR
21.52%
Non-Classified
Non-Classified
2
EURO-BOBL JUN 23 EUR
5.46%
Non-Classified
Non-Classified
3
NORTHERN TRUST GLOBAL FDS PLC(THE)
4.02%
Managed Funds
Non-Classified
4
GLENBEIGH 2 ISSUER DAC 3.752% 24/03/2046
1.45%
Bonds
Ireland
5
BNP PARIBAS SA 3.875% 10/01/2031
1.37%
Bonds
France
6
CREDIT AGRICOLE SA 7.875% PERP
1.28%
Bonds
France
7
DEUTSCHE BAHN FINANCE GMBH 0.375% 23/06/2029
1.16%
Bonds
Germany
8
CIFC EUROPEAN FUNDING CLO V DAC CIFCE_5X 4.167% 15/11/2034
1.06%
Non-Classified
Non-Classified
9
BANK OF AMERICA CORP 0.583% 24/08/2028
1.06%
Non-Classified
Non-Classified
10
ALSTRIA OFFICE REIT-AG 1.5% 15/11/2027
1.02%
Bonds
Germany
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
B3W1971
Mex Code
-
Isin Code
GB00B3W19714
Citi Code
0ZD4
Fund Charges
Entry Charge
0.00%
Ongoing Charges
0.35%
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 Euro Corporate Index over any five-year period.
Benchmark
ICE BofAML Euro Corporate Index
Benchmark Category
Target
IA Sector
Global Bonds
Fund Background
Valuation frequency
Daily
Valuation point
12:00
Fund type
OEIC
Launch price
€0.50
Fund currency
Pound Sterling
Fund domicile
United Kingdom
ISA allowable
Yes
SIPP allowable
Yes
Distribution Details
Income frequency
Quarterly
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
3 days
Settlement Period: Sell
3 days
Pricing Basis
Forward
Dealing Decimals
3
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.