M&G European Corporate Bond 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
EURO-SCHATZ JUN 23 EUR 21.52
EURO-BOBL JUN 23 EUR 5.46
NORTHERN TRUST GLOBAL FDS PLC(THE) 4.02
GLENBEIGH 2 ISSUER DAC 3.752% 24/03/2046 1.45
BNP PARIBAS SA 3.875% 10/01/2031 1.37
CREDIT AGRICOLE SA 7.875% PERP 1.28
DEUTSCHE BAHN FINANCE GMBH 0.375% 23/06/2029 1.16
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 Isaacs manager for 17 years

Photo of Stefan Isaacs 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

pie chart
  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

pie chart
  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

pie chart
  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

pie chart
  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 Crown Rating of 3

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.

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.