M&G Gilt & Fixed Interest Income Class I GBP Acc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 31/03/19 to 31/03/20 |
31/03/20 to 31/03/21 |
31/03/21 to 31/03/22 |
31/03/22 to 31/03/23 |
31/03/23 to 31/03/24 |
|
|---|---|---|---|---|---|
| Fund | 8.7% | -5.8% | -4.8% | -15.6% | 0.3% |
| Sector | 10.7% | -5.9% | -5.0% | -16.4% | 0.2% |
| Rank | 22/28 | 17/29 | 9/30 | 12/32 | 11/33 |
| Quartile | 4 | 3 | 2 | 2 | 2 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/03/24 |
5 Years to 31/03/24 |
10 Years to 31/03/24 |
||
| Fund | -7.0% | -3.8% | 0.5% | |
| Sector | -7.3% | -3.7% | 0.9% | |
| Rank | 11/30 | 10/28 | 12/20 | |
| Quartile | 2 | 2 | 3 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| 4⅛% Treasury Gilt 2027 | 23.48 |
| 4½% Treasury Gilt 2028 | 20.42 |
| 4½% Treasury Gilt 2042 | 9.57 |
| ⅞ Treasury 2046 | 6.97 |
| 2½% Treasury Gilt 2065 | 5.77 |
| ⅝% Treasury Gilt 2050 | 5.13 |
| 3½% Treasury Gilt 2025 | 4.39 |
| ½% Treasury Gilt 2029 | 4.21 |
| 1⅛ Treasury 2039 | 3.98 |
| 4% Treasury Gilt 2063 | 3.20 |
| Total | 87.12 |
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 FTSE UK Conventional Gilts All Stocks Index over any five-year period.
Fund Manager
Miles Tym joined M&G Investments in January 2009 as a senior portfolio manager specialising in government bond and macro fixed income mandates. Before joining the investment management industry in 1996, Miles worked briefly as an accountant and a trader on the LIFFE floor. He spent the next eight years of his career managing both government and corporate bond portfolios for Alliance Capital. In 2004, Miles joined Morley with a brief to specialise in government bond portfolios. He graduated from Cambridge University in 1993 with a BA Hons in Economics.
Fund Overview
| Mid (26/04/2024) | 981.24p |
| Distribution yield | 4.14% |
| Underlying yield | 4.14% |
| Fund size (31/03/2024) | £373.01m |
| Number of holdings | 73 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.25% |
| Launch date | 09/12/1980 |
Asset Allocation
| UK Gilts | 96.36% | |
| UK Corporate Bonds | 2.73% | |
| Money Market | 0.53% | |
| Cash and Equivalents | 0.31% | |
| International Bonds | 0.01% | |
| Other Assets | 0.07% |
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 client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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
| UK Gilts | 96.36% | |
| UK Corporate Bonds | 2.73% | |
| Money Market | 0.53% | |
| Cash and Equivalents | 0.31% | |
| International Bonds | 0.01% | |
| Other Assets | 0.07% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 99.09% | - | - | - | |
| Cash and Equivalents | 0.83% | - | - | - | |
| Non-Classified | 0.07% | - | - | - | |
Regional Allocation
| UK | 99.08% | |
| Cash and Equivalents | 0.83% | |
| Non-Classified | 0.07% | |
| Developed Europe - Excl UK | 0.01% |
Fixed Interest Currencies
| Pound Sterling | 99.09% | |
| Non-Fixed Interest Assets | 0.60% | |
| Cash | 0.31% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 99.08% | - | |
United Kingdom
|
- | 99.08% | |
| Cash and Equivalents | 0.83% | - | |
| Non-Classified | 0.07% | - | |
| Developed Europe - Excl UK | 0.01% | - | |
France
|
- | 0.01% | |
Netherlands
|
- | 0.00% | |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
61.03% |
| 10Yr - 15Yr Maturity |
|
3.98% |
| > 15Yr Maturity |
|
34.08% |
| Cash And Equivalents |
|
0.83% |
| Unknown Maturity |
|
0.07% |
Fixed Interest Quality Profile
| AA |
|
97.20% |
| Unknown Quality |
|
1.90% |
| Cash and Equivalents |
|
0.83% |
| Other Asset Types |
|
0.07% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | 4⅛% Treasury Gilt 2027 | 23.48% | Bonds | United Kingdom |
| 2 | 4½% Treasury Gilt 2028 | 20.42% | Bonds | United Kingdom |
| 3 | 4½% Treasury Gilt 2042 | 9.57% | Bonds | United Kingdom |
| 4 | ⅞ Treasury 2046 | 6.97% | Bonds | United Kingdom |
| 5 | 2½% Treasury Gilt 2065 | 5.77% | Bonds | United Kingdom |
| 6 | ⅝% Treasury Gilt 2050 | 5.13% | Bonds | United Kingdom |
| 7 | 3½% Treasury Gilt 2025 | 4.39% | Bonds | United Kingdom |
| 8 | ½% Treasury Gilt 2029 | 4.21% | Bonds | United Kingdom |
| 9 | 1⅛ Treasury 2039 | 3.98% | Bonds | United Kingdom |
| 10 | 4% Treasury Gilt 2063 | 3.20% | Bonds | United Kingdom |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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 | B734BY8 |
| Mex Code | - |
| Isin Code | GB00B734BY83 |
| Citi Code | 0ZDP |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.25% |
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 FTSE UK Conventional Gilts All Stocks Index over any five-year period. |
| Benchmark | FTSE Actuaries UK Conventional Gilts All Stocks Index |
| Benchmark Category | Target |
| IA Sector | UK Gilt |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | OEIC |
| Launch price | £0.48 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Annually |
| 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 |
| 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 investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 0.68 |
| Beta | 0.98 |
| Sharpe | -0.01 |
| Standard Deviation | 10.62 |
| Info Ratio | 1.06 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | No |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | Yes |
| Umbrella Liabilities | Yes |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | Yes |
| Ethical Restrictions | No |
| Liquidity | Yes |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Charges to Capital
Part, or all of the periodic annual management fee(s) and expenses may be charged to capital which could increase the potential for the capital value of your investment to be eroded. Your capital could also decrease if income withdrawals exceed the growth rate of the fund(s).
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Income Eroding Capital Growth
The fund focuses on providing an income, which can reduce the prospects for capital growth, and in some cases the capital value may fall.
Umbrella Liabilities
If the liabilities of one fund were to exceed its assets, the other funds within the scheme might have to transfer across money to cover the liabilities.
Solvency of Bond Issuers
If the fund you choose invests in bonds there is a risk that the issuer may default, resulting in a loss to the portfolio.
Liquidity
This fund can suffer from partial or total illiquidity, which may lead to considerable price fluctuations and the inability to redeem your investment.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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 client’s investment can go down as well as up and the amount your client gets back may be less than they put in. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.