M&G Global Target Return 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 | 6.9% | 3.1% | 6.8% | 6.1% |
| Sector | -1.6% | 8.8% | 1.8% | 0.4% | 6.1% |
| Rank | 46/69 | 47/72 | 27/77 | 4/81 | 41/82 |
| Quartile | 3 | 3 | 2 | 1 | 2 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/04/24 |
5 Years to 30/04/24 |
10 Years to 30/04/24 |
||
| Fund | 5.3% | n/a | n/a | |
| Sector | 2.7% | 3.0% | 2.3% | |
| Rank | 16/77 | 20/69 | n/a | |
| Quartile | 1 | 2 | n/a | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| UNITED KINGDOM OF GREAT BRITAIN AN 0% 15/04/2024 | 11.56 |
| UNITED KINGDOM OF GREAT BRITAIN AN 0% 22/07/2024 | 9.32 |
| UNITED KINGDOM OF GREAT BRITAIN AN 0% 03/06/2024 | 9.00 |
| UNITED KINGDOM OF GREAT BRITAIN AN 0% 05/08/2024 | 8.08 |
| UNITED KINGDOM OF GREAT BRITAIN AN 0% 13/05/2024 | 5.18 |
| 3¾% Treasury Gilt 2053 | 5.09 |
| UNITED KINGDOM OF GREAT BRITAIN AN 0% 29/04/2024 | 4.09 |
| UNITED KINGDOM OF GREAT BRITAIN AN 0% 24/06/2024 | 3.86 |
| TREASURY (CPI) NOTE 1.375% 15/07/2033 | 3.60 |
| UNITED KINGDOM OF GREAT BRITAIN AN 0% 08/07/2024 | 3.27 |
| Total | 63.07 |
Fund Aims
The Fund aims to achieve a total return (the combination of income and capital growth) of at least 2-4%, per annum above the Sterling Overnight Index Average (SONIA), before any charges are taken, in any market conditions and over any three year period. The Fund aims to achieve this while seeking to minimise the degree to which the value of the Fund fluctuates over time (volatility), while also seeking to limit monthly losses. Managing the Fund in this way reduces its ability to achieve returns significantly above SONIA plus 2-4%. There is no guarantee that the Fund will achieve a positive return over three years, or any other, period, and investors may not get back the original amount they invested.
Fund Manager
Tristan Hanson was appointed fund manager of the M&G Global Target Return Fund upon its launch in December 2016. Tristan has over 15 years of experience in asset management and joined M&G in April 2016 from Ashburton Investments, where he started in 2008 and was appointed Head of Asset Allocation with responsibility for global multi-asset funds in 2010. Prior to this, Tristan worked as a Strategist at JP Morgan Cazenove from 1999 to 2006, covering equities, fixed income and currencies. Tristan holds a Master in Public Administration in International Development from Harvard University’s Kennedy School of Government and a BA (Hons) in Economics from Durham University. He is a Chartered Fellow of the CISI.
Fund Overview
| Mid (01/05/2024) | 111.36p |
| Historic yield | 2.61% |
| Fund size (31/03/2024) | £52.78m |
| Number of holdings | 1199 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.42% |
| Launch date | 13/12/2016 |
Asset Allocation
| UK Corporate Bonds | 60.09% | |
| International Bonds | 21.13% | |
| International Equities | 5.64% | |
| UK Gilts | 5.38% | |
| Alternative Trading Strategies | 4.75% | |
| Cash and Equivalents | 4.61% | |
| Investment Trusts | 1.50% | |
| Money Market | 0.08% | |
| Other Assets | -3.19% |
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
| UK Corporate Bonds | 60.09% | |
| International Bonds | 21.13% | |
| International Equities | 5.64% | |
| UK Gilts | 5.38% | |
| Alternative Trading Strategies | 4.75% | |
| Cash and Equivalents | 4.61% | |
| Investment Trusts | 1.50% | |
| Money Market | 0.08% | |
| Other Assets | -3.19% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 86.61% | - | - | - | |
| Alternative Trading Strategies | 4.75% | - | - | - | |
| Alternative Trading Strategies | - | 4.75% | - | - | |
| Alternative Trading Strategies | - | - | 4.75% | - | |
| Alternative Trading Strategies | - | - | - | 4.75% | |
| Cash and Equivalents | 4.69% | - | - | - | |
| Financials | 2.55% | - | - | - | |
| Financial Services | - | 1.50% | - | - | |
| Equity Investment Instruments | - | - | 1.50% | - | |
| Equity Investment Instruments | - | - | - | 1.50% | |
| Banks | - | 1.05% | - | - | |
| Banks | - | - | 1.05% | - | |
| Banks | - | - | - | 1.05% | |
| Utilities | 1.48% | - | - | - | |
| Utilities | - | 1.48% | - | - | |
| Electricity | - | - | 1.48% | - | |
| Alternative Electricity | - | - | - | 1.48% | |
| Industrials | 1.23% | - | - | - | |
| Industrial Goods & Services | - | 0.63% | - | - | |
| Industrial Transportation | - | - | 0.63% | - | |
| Marine Transportation | - | - | - | 0.43% | |
| Transportation Services | - | - | - | 0.19% | |
| Construction & Materials | - | 0.61% | - | - | |
| Construction & Materials | - | - | 0.61% | - | |
| Engineering & Contracting Services | - | - | - | 0.61% | |
| Telecommunications | 0.95% | - | - | - | |
| Telecommunications | - | 0.95% | - | - | |
| Telecommunications Equipment | - | - | 0.49% | - | |
| Telecommunications Equipment | - | - | - | 0.49% | |
| Telecommunications Service Providers | - | - | 0.45% | - | |
| Telecommunications Services | - | - | - | 0.45% | |
| Energy | 0.50% | - | - | - | |
| Energy | - | 0.50% | - | - | |
| Non-Renewable Energy | - | - | 0.50% | - | |
| Pipelines | - | - | - | 0.50% | |
| Real Estate | 0.44% | - | - | - | |
| Real Estate | - | 0.44% | - | - | |
| Real Estate Investment & Services | - | - | 0.44% | - | |
| Real Estate Holding and Development | - | - | - | 0.44% | |
| Consumer Staples | 0.00% | - | - | - | |
| Personal Care, Drug & Grocery Stores | - | 0.00% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 0.00% | - | |
| Food Retailers & Wholesalers | - | - | - | 0.00% | |
| Non-Classified | -3.19% | - | - | - | |
| Non-Classified | - | 1.14% | - | - | |
| Non-Classified | - | - | 1.14% | - | |
| Non-Classified | - | - | - | 1.14% | |
Regional Allocation
| UK | 65.47% | |
| North America | 11.66% | |
| Cash and Equivalents | 4.69% | |
| Non-Classified | 5.03% | |
| Developed Europe - Excl UK | 3.14% | |
| Middle East & Africa | 2.89% | |
| South & Central America | 2.85% | |
| Emerging Asia | 2.09% | |
| Developed Asia | 2.08% | |
| Other Regions | 0.09% |
Fixed Interest Currencies
| Pound Sterling | 70.96% | |
| Non-Fixed Interest Assets | 8.80% | |
| US Dollar | 6.34% | |
| Cash | 4.60% | |
| Rand | 2.89% | |
| Euro | 2.83% | |
| Other Currencies | 3.58% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 65.47% | - | |
United Kingdom
|
- | 65.47% | |
| North America | 11.66% | - | |
United States
|
- | 6.30% | |
Canada
|
- | 5.37% | |
| Cash and Equivalents | 4.69% | - | |
| Non-Classified | 5.03% | - | |
| Developed Europe - Excl UK | 3.14% | - | |
Ireland
|
- | 1.59% | |
Germany
|
- | 0.35% | |
France
|
- | 0.30% | |
Netherlands
|
- | 0.21% | |
Italy
|
- | 0.15% | |
Luxembourg
|
- | 0.14% | |
Spain
|
- | 0.09% | |
Sweden
|
- | 0.08% | |
Belgium
|
- | 0.06% | |
Austria
|
- | 0.05% | |
Switzerland
|
- | 0.04% | |
Iceland
|
- | 0.03% | |
Portugal
|
- | 0.02% | |
Norway
|
- | 0.01% | |
Finland
|
- | 0.01% | |
Denmark
|
- | 0.01% | |
| Middle East & Africa | 2.89% | - | |
South Africa
|
- | 2.89% | |
| South & Central America | 2.85% | - | |
Brazil
|
- | 1.75% | |
Mexico
|
- | 1.10% | |
Cayman Islands
|
- | 0.00% | |
Colombia
|
- | 0.00% | |
| Emerging Asia | 2.09% | - | |
China
|
- | 1.60% | |
Thailand
|
- | 0.49% | |
Philippines
|
- | 0.00% | |
| Developed Asia | 2.08% | - | |
Hong Kong
|
- | 1.63% | |
Singapore
|
- | 0.45% | |
| Australia & New Zealand | 0.07% | - | |
Australia
|
- | 0.07% | |
| Emerging Europe | 0.01% | - | |
Greece
|
- | 0.01% | |
Poland
|
- | 0.00% | |
| Japan | 0.01% | - | |
Japan
|
- | 0.01% | |
Breakdown By Market Cap (%)
| Mega |
|
0.44% |
| Large |
|
1.06% |
| Medium |
|
3.18% |
| Small |
|
1.97% |
| Non-Classified |
|
2.05% |
| Bonds |
|
86.61% |
| Cash |
|
4.69% |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
68.38% |
| 5Yr - 10Yr Maturity |
|
7.44% |
| 10Yr - 15Yr Maturity |
|
2.96% |
| > 15Yr Maturity |
|
7.84% |
| Cash And Equivalents |
|
4.69% |
| Unknown Maturity |
|
-4.33% |
| Other Asset Types |
|
13.03% |
Fixed Interest Quality Profile
| AAA |
|
16.11% |
| AA |
|
5.58% |
| A |
|
0.63% |
| BBB |
|
2.13% |
| Sub-Investment Grade |
|
3.20% |
| Unknown Quality |
|
58.95% |
| Cash and Equivalents |
|
4.69% |
| Other Asset Types |
|
8.70% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | UNITED KINGDOM OF GREAT BRITAIN AN 0% 15/04/2024 | 11.56% | Bonds | United Kingdom |
| 2 | UNITED KINGDOM OF GREAT BRITAIN AN 0% 22/07/2024 | 9.32% | Bonds | United Kingdom |
| 3 | UNITED KINGDOM OF GREAT BRITAIN AN 0% 03/06/2024 | 9.00% | Bonds | United Kingdom |
| 4 | UNITED KINGDOM OF GREAT BRITAIN AN 0% 05/08/2024 | 8.08% | Bonds | United Kingdom |
| 5 | UNITED KINGDOM OF GREAT BRITAIN AN 0% 13/05/2024 | 5.18% | Bonds | United Kingdom |
| 6 | 3¾% Treasury Gilt 2053 | 5.09% | Bonds | United Kingdom |
| 7 | UNITED KINGDOM OF GREAT BRITAIN AN 0% 29/04/2024 | 4.09% | Bonds | United Kingdom |
| 8 | UNITED KINGDOM OF GREAT BRITAIN AN 0% 24/06/2024 | 3.86% | Bonds | United Kingdom |
| 9 | TREASURY (CPI) NOTE 1.375% 15/07/2033 | 3.60% | Bonds | United States |
| 10 | UNITED KINGDOM OF GREAT BRITAIN AN 0% 08/07/2024 | 3.27% | 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 | BK7XXM4 |
| Mex Code | - |
| Isin Code | GB00BK7XXM49 |
| Citi Code | QGNK |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.42% |
Aims and Benchmark
| Aims | The Fund aims to achieve a total return (the combination of income and capital growth) of at least 2-4%, per annum above the Sterling Overnight Index Average (SONIA), before any charges are taken, in any market conditions and over any three year period. The Fund aims to achieve this while seeking to minimise the degree to which the value of the Fund fluctuates over time (volatility), while also seeking to limit monthly losses. Managing the Fund in this way reduces its ability to achieve returns significantly above SONIA plus 2-4%. There is no guarantee that the Fund will achieve a positive return over three years, or any other, period, and investors may not get back the original amount they invested. |
| Benchmark | SONIA + 2-4% |
| Benchmark Category | Target |
| IA Sector | Absolute Return |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | OEIC |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Annually |
| Distribution Type | Dividend |
| 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 | 3.90 |
| Beta | 0.71 |
| Sharpe | 0.55 |
| Standard Deviation | 3.28 |
| Info Ratio | 1.30 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | Yes |
| Sector Specific | No |
| Geared Investments | Yes |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | Yes |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | Yes |
| New Fund | Yes |
| Solvency of Depository | No |
| Solvency of Bond Issuers | Yes |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
High Yield Bonds
The fund invests in high yield bonds. High yield bonds carry a greater risk of default than investment grade bonds, and economic conditions and interest rate movements will have a greater effect on their price. Income levels may not be achieved and the income provided may vary.
Geared Investments
The fund focuses on geared investments. Funds which focus on geared investments such as warrants or options carry a higher degree of risk than other equity investments because of the risk of the underlying investments. It is possible that the fund may suffer sudden and large falls in value so that the short fall on cancellation, or the loss of the realisation on the investment at any time after the investor has bought the contract, could be very high and could even equal the amount invested, in which case you would get nothing back.
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.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
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.
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.
New Fund
The charges and expenses may make up a higher proportion of a newly launched fund than initially estimated.
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.
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.