Prudential FRIA M&G Short Dated Corporate Bond
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 | -1.7% | 6.7% | -1.3% | 0.2% | 6.2% |
| Sector | 0.3% | 8.7% | -5.1% | -10.1% | 7.0% |
| Rank | 178/198 | 172/200 | 2/204 | 1/205 | 146/207 |
| Quartile | 4 | 4 | 1 | 1 | 3 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/03/24 |
5 Years to 31/03/24 |
10 Years to 31/03/24 |
||
| Fund | 1.6% | 2.0% | 1.8% | |
| Sector | -3.0% | -0.1% | 2.1% | |
| Rank | 2/204 | 3/198 | 99/177 | |
| Quartile | 1 | 1 | 3 | |
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
Objective: The investment strategy of the fund is to purchase units in the M&G Short Dated Corporate Bond 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 Markit iBoxx EUR Corporates 1-3 year Index (GBP Hedged) over any five-year period. At least 80% of the fund is invested, directly or indirectly through derivatives, in short-dated investment grade fixed and floating rate corporate debt securities and in Asset-Backed Securities. These securities can be issued by companies from anywhere in the world, including Emerging Markets. These securities can be denominated in any currency.
Other investments may include: - below investment grade and unrated corporate debt securities; and - other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G).
The fund aims to hedge any non-sterling assets back to sterling. Derivatives may be used for investment purposes, efficient portfolio management and hedging.
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
| Bid (18/04/2024) | 174.40 |
| Offer (18/04/2024) | 174.40 |
| Fund size (29/02/2024) | £0.68m |
| Underlying Fund size | £369.08m |
| Number of holdings | 218 |
| Launch date | 01/02/2001 |
Fund Charges
| Annual Management Charge (AMC) | 0.80% |
| Further Costs | 0.02% |
| Yearly Total | 0.82% |
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
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 GBP with gross 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.
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
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).
Identification Codes
| Sedol Code | 3018185 |
| Mex Code | PRMHIP |
| Isin Code | GB0030181852 |
| Citi Code | MF15 |
Fund Charges
| Annual Management Charge (AMC) | 0.80% |
| Further Costs | 0.02% |
| Yearly Total | 0.82% |
Aims and Benchmark
| Aims | Objective: The investment strategy of the fund is to purchase units in the M&G Short Dated Corporate Bond 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 Markit iBoxx EUR Corporates 1-3 year Index (GBP Hedged) over any five-year period. At least 80% of the fund is invested, directly or indirectly through derivatives, in short-dated investment grade fixed and floating rate corporate debt securities and in Asset-Backed Securities. These securities can be issued by companies from anywhere in the world, including Emerging Markets. These securities can be denominated in any currency. Other investments may include: - below investment grade and unrated corporate debt securities; and - other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G). The fund aims to hedge any non-sterling assets back to sterling. Derivatives may be used for investment purposes, efficient portfolio management and hedging. |
| Benchmark | IA Sterling Corporate Bond sector average |
| Sector | ABI Sterling Corporate Bond |
Ratings
| FE Crown |  |
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 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
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 GBP with gross 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.