PIA M&G Gilt & Fixed Interest Income Ser A

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

Performance

Discrete performance - to last month end

31/07/17
to
31/07/18
31/07/18
to
31/07/19
31/07/19
to
31/07/20
31/07/20
to
31/07/21
31/07/21
to
31/07/22
Fund -0.9% 4.8% 6.8% -5.9% -15.0%
Sector 0.1% 6.6% 9.8% -5.1% -15.9%
Rank 19/22 23/26 29/32 26/32 12/32
Quartile 4 4 4 4 2

Annualised performance

Annualised
3 Years to
31/07/22
5 Years to
31/07/22
10 Years to
31/07/22
Fund -5.1% -2.4% 0.0%
Sector -4.3% -1.3% 0.5%
Rank 26/32 22/22 12/14
Quartile 4 4 4

Top 10 Holdings

Stock % Weight
⅝% Treasury Gilt 2035 19.39
1¾% Treasury Gilt 2037 13.38
¼% Treasury Gilt 2025 10.08
⅛% Treasury Gilt 2024 8.78
4¼% Treasury Gilt 2049 8.44
⅛% Treasury Gilt 2023 6.06
3¼% Treasury Gilt 2044 5.47
KFW 1.375% 15/12/2025 5.06
4 1/2 Treasury 2034 4.14
UK CONV GILT 1.125% 22/10/2073 4.00
Total 84.80

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the M&G Gilt & Fixed Interest Income Fund – the underlying fund.

Underlying Fund Objective: 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. At least 70% of the fund is invested, directly or indirectly through derivatives, in investment grade short, medium and long-dated gilts. These securities are issued or guaranteed by the UK government, and denominated in sterling. Other investments may include transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G). Derivatives may be used for investment purposes, efficient portfolio management and hedging.

Fund Manager

Miles Tym manager of the underlying fund for 1 years and 9 months

Photo of Miles Tym 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

Bid (05/08/2022) 2.77
Offer (05/08/2022) 2.92
Fund size (30/06/2022) £175.52m
Underlying Fund size £448.39m
Number of holdings 18
Launch date 30/06/1994

Fund Charges

Annual Management Charge (AMC) 1.75%
Further Costs 0.09%
Yearly Total 1.84%

Asset Allocation

pie chart
  UK Gilts 85.06%
  International Bonds 7.16%
  Money Market 2.84%
  UK Corporate Bonds 0.90%
  Cash and Equivalents 0.04%
  Other Assets 4.00%
Portfolio data accurate as at: 30/06/22

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

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 fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs 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 the fund's currency of denomination with gross 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.

Portfolio data accurate as at:

Asset Allocation

pie chart
  UK Gilts 85.06%
  International Bonds 7.16%
  Money Market 2.84%
  UK Corporate Bonds 0.90%
  Cash and Equivalents 0.04%
  Other Assets 4.00%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Bonds 93.12% - - -
 
Non-Classified 6.84% - - -
 
Cash and Equivalents 0.04% - - -

Regional Allocation

pie chart
  UK 85.96%
  Developed Europe - Excl UK 7.16%
  Non-Classified 4.00%
  Cash and Equivalents 2.88%

Fixed Interest Currencies

pie chart
  Pound Sterling 93.12%
  Non-Fixed Interest Assets 6.84%
  Cash 0.04%

Regional Breakdown

Expand allCollapse all
Region Country
 
UK 85.96% -
 
United Kingdom - 85.96%
 
Developed Europe - Excl UK 7.16% -
 
Germany - 5.83%
 
Finland - 1.32%
 
Non-Classified 4.00% -
 
Cash and Equivalents 2.88% -

Top 10 Holdings

Stock % Weight Sector Country
1 ⅝% Treasury Gilt 2035 19.39% Bonds United Kingdom
2 1¾% Treasury Gilt 2037 13.38% Bonds United Kingdom
3 ¼% Treasury Gilt 2025 10.08% Bonds United Kingdom
4 ⅛% Treasury Gilt 2024 8.78% Bonds United Kingdom
5 4¼% Treasury Gilt 2049 8.44% Bonds United Kingdom
6 ⅛% Treasury Gilt 2023 6.06% Bonds United Kingdom
7 3¼% Treasury Gilt 2044 5.47% Bonds United Kingdom
8 KFW 1.375% 15/12/2025 5.06% Bonds Germany
9 4 1/2 Treasury 2034 4.14% Bonds United Kingdom
10 UK CONV GILT 1.125% 22/10/2073 4.00% Non-Classified Non-Classified

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Cash and Equivalents - - - - - - - 0.04% 0.04%
Bonds - - 0.90% 7.16% 85.06% - - - 93.12%
Non-Classified - - - - - - 6.84% - 6.84%

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

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 0794682
Mex Code SBEUKF
Isin Code IE0007946829
Citi Code SY49

Fund Charges

Annual Management Charge (AMC) 1.75%
Further Costs 0.09%
Yearly Total 1.84%

Aims and Benchmark

Aims Objective: The investment strategy of the fund is to purchase units in the M&G Gilt & Fixed Interest Income Fund – the underlying fund. Underlying Fund Objective: 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. At least 70% of the fund is invested, directly or indirectly through derivatives, in investment grade short, medium and long-dated gilts. These securities are issued or guaranteed by the UK government, and denominated in sterling. Other investments may include transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G). Derivatives may be used for investment purposes, efficient portfolio management and hedging.
Benchmark FTSE Actuaries UK Conventional Gilts All Stocks
ABI Sector UK Gilts

Ratings

FE Crown Crown Rating of 3

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Charges and further costs 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 -1.11
Beta 0.93
Sharpe -0.01
Standard Deviation 8.17
Info Ratio -0.46

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

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

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

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

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 fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs 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 the fund's currency of denomination with gross 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.

The registered office of Prudential International is in Ireland at Montague House, Adelaide Road, Dublin 2. Prudential International is a marketing name of Prudential International Assurance plc, a life assurance company operating from Ireland. Registration No. 209956. Prudential International Assurance plc is authorised and regulated by the Central Bank of Ireland and in the context of its UK regulated activities only, is deemed authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website. Prudential International is part of the same corporate group as The Prudential Assurance Company Limited. Both The Prudential Assurance Company Limited and Prudential International are direct and indirect subsidiaries respectively of M&G plc, a company incorporated in the United Kingdom. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.