M&G Short Dated Corporate Bond Class PP GBP Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 30/04/19 to 30/04/20 |
30/04/20 to 30/04/21 |
30/04/21 to 30/04/22 |
30/04/22 to 30/04/23 |
30/04/23 to 30/04/24 |
|
|---|---|---|---|---|---|
| Fund | n/a | 4.8% | -1.2% | 1.6% | 6.5% |
| Sector | 5.3% | 4.9% | -7.3% | -6.6% | 5.5% |
| Rank | 79/87 | 43/92 | 1/92 | 1/95 | 26/97 |
| Quartile | 4 | 2 | 1 | 1 | 2 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/04/24 |
5 Years to 30/04/24 |
10 Years to 30/04/24 |
||
| Fund | 2.3% | n/a | n/a | |
| Sector | -3.0% | 0.2% | 2.3% | |
| Rank | 1/92 | 1/87 | n/a | |
| Quartile | 1 | 1 | n/a | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| 3½% Treasury Gilt 2025 | 10.68 |
| TORONTO-DOMINION BANK/THE 12/06/2028 | 2.27 |
| CLYDESDALE BANK PLC 22/09/2028 | 2.27 |
| JPMORGAN CHASE & CO 15/10/2025 | 1.28 |
| TSB BANK PLC 14/02/2027 | 1.27 |
| CANADIAN IMPERIAL BANK OF COMMERCE 30/06/2025 | 1.26 |
| SKIPTON BUILDING SOCIETY 22/06/2028 | 1.26 |
| BANQUE FEDERATIVE DU CREDIT MUTUEL 4.875% 25/09/2025 | 1.23 |
| ROYAL BANK OF CANADA 18/01/2028 | 1.22 |
| MARKS AND SPENCER PLC 3.75% 19/05/2026 | 1.20 |
| Total | 23.94 |
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 Markit iBoxx EUR Corporates 1-3 year Index (GBP Hedged) over any five-year period.
Fund Manager
Matthew Russell joined M&G in 2007 as a fund managers’ assistant covering fixed income funds. He became deputy manager of the Short Dated Corporate Bond strategy in 2011 and, two years later, was appointed manager. In 2015 he started managing the Gilt & Fixed Interest Income strategy and in June 2021 became manager of the European Inflation Linked Corporate Bond strategy and deputy manager of the UK Inflation Linked Corporate Bond strategy. Matthew has a BSc in economics from the University of Birmingham and is a CFA charterholder.
Fund Overview
| Mid (01/05/2024) | 99.05p |
| Distribution yield | 5.12% |
| Underlying yield | 4.97% |
| Fund size (31/03/2024) | £369.08m |
| Number of holdings | 218 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.15% |
| Launch date | 29/01/1993 |
Asset Allocation
| International Bonds | 50.99% | |
| UK Corporate Bonds | 25.47% | |
| UK Gilts | 10.68% | |
| Alternative Trading Strategies | 8.08% | |
| Money Market | 2.49% | |
| Cash and Equivalents | -8.64% | |
| Other Assets | 10.93% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. Please remember that past performance is not a reliable indicator of future performance. The figures shown are intended only to demonstrate performance history of the fund and take no account of product charges. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. The value of your client's investment may go down as well as up and the fund value may be less than the payments your client has made. Please also note that our 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. 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 report or make any warranties regarding results from its usage.
Asset Allocation
| International Bonds | 50.99% | |
| UK Corporate Bonds | 25.47% | |
| UK Gilts | 10.68% | |
| Alternative Trading Strategies | 8.08% | |
| Money Market | 2.49% | |
| Cash and Equivalents | -8.64% | |
| Other Assets | 10.93% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 87.14% | - | - | - | |
| Non-Classified | 10.93% | - | - | - | |
| Alternative Trading Strategies | 8.08% | - | - | - | |
| Alternative Trading Strategies | - | 8.08% | - | - | |
| Alternative Trading Strategies | - | - | 8.08% | - | |
| Alternative Trading Strategies | - | - | - | 8.08% | |
| Cash and Equivalents | -6.15% | - | - | - | |
Regional Allocation
| UK | 36.15% | |
| North America | 26.10% | |
| Developed Europe - Excl UK | 21.00% | |
| Non-Classified | 20.65% | |
| Australia & New Zealand | 1.79% | |
| South & Central America | 0.47% | |
| Cash and Equivalents | -6.15% |
Fixed Interest Currencies
| Pound Sterling | 47.43% | |
| US Dollar | 22.12% | |
| Non-Fixed Interest Assets | 21.50% | |
| Euro | 16.33% | |
| Canadian Dollar | 1.26% | |
| Cash | -8.64% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 36.15% | - | |
United Kingdom
|
- | 36.15% | |
| North America | 26.10% | - | |
United States
|
- | 20.26% | |
Canada
|
- | 5.84% | |
| Developed Europe - Excl UK | 21.00% | - | |
Germany
|
- | 4.89% | |
France
|
- | 3.42% | |
Italy
|
- | 2.33% | |
Ireland
|
- | 2.15% | |
Netherlands
|
- | 1.99% | |
Luxembourg
|
- | 1.73% | |
Spain
|
- | 1.48% | |
Sweden
|
- | 1.31% | |
Switzerland
|
- | 1.08% | |
Belgium
|
- | 0.41% | |
Austria
|
- | 0.22% | |
| Non-Classified | 20.65% | - | |
| Australia & New Zealand | 1.79% | - | |
Australia
|
- | 1.79% | |
| South & Central America | 0.47% | - | |
Mexico
|
- | 0.47% | |
| Cash and Equivalents | -6.15% | - | |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
68.02% |
| 5Yr - 10Yr Maturity |
|
12.86% |
| 10Yr - 15Yr Maturity |
|
0.29% |
| > 15Yr Maturity |
|
5.97% |
| Cash And Equivalents |
|
-6.15% |
| Unknown Maturity |
|
10.93% |
| Other Asset Types |
|
8.08% |
Fixed Interest Quality Profile
| AAA |
|
16.98% |
| AA |
|
14.98% |
| A |
|
19.09% |
| BBB |
|
20.28% |
| Sub-Investment Grade |
|
1.75% |
| Unknown Quality |
|
14.07% |
| Cash and Equivalents |
|
-6.15% |
| Other Asset Types |
|
19.01% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | 3½% Treasury Gilt 2025 | 10.68% | Bonds | United Kingdom |
| 2 | TORONTO-DOMINION BANK/THE 12/06/2028 | 2.27% | Bonds | Canada |
| 3 | CLYDESDALE BANK PLC 22/09/2028 | 2.27% | Bonds | United Kingdom |
| 4 | JPMORGAN CHASE & CO 15/10/2025 | 1.28% | Bonds | United States |
| 5 | TSB BANK PLC 14/02/2027 | 1.27% | Bonds | United Kingdom |
| 6 | CANADIAN IMPERIAL BANK OF COMMERCE 30/06/2025 | 1.26% | Bonds | Canada |
| 7 | SKIPTON BUILDING SOCIETY 22/06/2028 | 1.26% | Non-Classified | Non-Classified |
| 8 | BANQUE FEDERATIVE DU CREDIT MUTUEL 4.875% 25/09/2025 | 1.23% | Bonds | France |
| 9 | ROYAL BANK OF CANADA 18/01/2028 | 1.22% | Bonds | Canada |
| 10 | MARKS AND SPENCER PLC 3.75% 19/05/2026 | 1.20% | 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 | BK7XXW4 |
| Mex Code | - |
| Isin Code | GB00BK7XXW47 |
| Citi Code | QGNT |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.15% |
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 Markit iBoxx EUR Corporates 1-3 year Index (GBP Hedged) over any five-year period. |
| Benchmark | Markit iBoxx EUR Corporates 1-3 year Index (GBP Hedged) |
| Benchmark Category | Target |
| IA Sector | £ Corporate Bond |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | OEIC |
| Launch price | £0.25 |
| 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 |
| info@mandg.co.uk | |
| Homepage | www.mandg.co.uk |
| Fax number | - |
Dealing
| Minimum Investment | - |
| Minimum Top Up | - |
| Minimum Regular Saving | - |
| Settlement Period: Buy | - |
| Settlement Period: Sell | - |
| 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 investment professionals and is for information purposes only. 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 report or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 2.99 |
| Beta | 0.25 |
| Sharpe | 0.00 |
| Standard Deviation | 2.42 |
| Info Ratio | 0.80 |
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 | Yes |
| Offshore | No |
| Income Eroding Capital Growth | Yes |
| Umbrella Liabilities | Yes |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| 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.
Derivative Exposure
The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.
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.
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.