Fact sheet: M&G Corporate Bond

Fund information
Fund name
M&G Corporate Bond Inst Acc GBP
Fund manager company
M&G UK
Fund type
OEIC
Fund managers
  • Richard Woolnoughsince 27/02/2004
  • Ben Lordsince 01/01/2007
Accolades
 Highly Commended - Corporate Bond
Fund objective
The fund invests mainly in high quality corporate bonds, with the aim of delivering a higher income and capital growth than that available from investment in UK government fixed income securities of similar maturities (the length of time until the final repayment date). The fund manager may also hold up to 20% of the portfolio in other fixed income investments. Exposure to these assets is gained through physical holdings and the use of derivatives. The fund manager is assisted by an in-house team of independent credit analysts in the selection of individual bond issues.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
6.1%
1 Year rank in sector
54/92
Sector
UT Sterling Corporate Bond
Yield
3.4%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.66%
Fund size
£4,453m (£4,598m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
34
Mid price
69.01
Top in this sector
Fund name1 Year
Schroder Long Dated Corp Bond12.4%
Newton Long Corporate Bond11.4%
F&C Instl Lg Dtd Corp Bd11.1%
Henderson Inst Long Dat Cr11%
Fidelity Inst UK Lg Crp Bd10.5%
...more in UT Sterling Corporate Bond

Performance snapshot

Holdings snapshot

  • UK54.4%
    USA23.9%
    France6.9%
    Germany2.4%
    International2.1%
  • Asset/Mortgage-Backed Securities19.1%
    Telecommunications11.5%
    Banks9.9%
    Utilities9.1%
    Insurance5.9%
  • UK Corporate Fixed Interest52%
    US Corporate Fixed Interest23.2%
    French Corporate Fixed Interest5.6%
    UK Gilts2.9%
    German Corporate Fixed Interest2.4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.2%-4.1%2.1%6.1%18.5%34.6%
Sector-1.1%-4.4%2.6%6.3%17.7%34.2%
Rank within sector54 / 9738 / 9466 / 9454 / 9244 / 8746 / 71
Quartile3rd2nd3rd3rd3rd3rd
Calendar performance
 YTD - 20162015201420132012
Fund7%0%10.8%0.1%11.8%
Sector7.5%-0.3%10.1%0.2%12.1%
Rank within sector56 / 9238 / 9038 / 8753 / 7851 / 71
Quartile3rd2nd2nd3rd3rd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
0.6
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.94
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.39
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
5.18
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
1.53
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.17
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.92
Price movement
52 week high72.64
52 week low64.08
Current bid price-
Current offer price-
Current mid price69.01
Region
1UK54.42%
2USA23.94%
3France6.93%
4Germany2.36%
5International2.08%
6Italy2.02%
7Money Market2%
8Spain1.8%
9Netherlands1.49%
Industry sector
1Asset/Mortgage-Backed Securities19.13%
2Telecommunications11.46%
3Banks9.91%
4Utilities9.06%
5Insurance5.9%
6Non-Cyclical Consumer Goods5.43%
7Real Estate4.88%
8Government Bonds4.61%
9Electronics4.2%
Asset type
1UK Corporate Fixed Interest52.03%
2US Corporate Fixed Interest23.23%
3French Corporate Fixed Interest5.59%
4UK Gilts2.85%
5German Corporate Fixed Interest2.36%
6Global Corporate Fixed Interest2.08%
7Money Market2%
8Dutch Corporate Fixed Interest1.49%
9Spanish Corporate Fixed Interest1.37%
Individual holdings
1TREASURY 4.75% GILT 07/12/38 GBP1.62%
2LLOYDS BANK PLC 5.125% NTS 07/03/25 GBP1000001.59%
3IMPERIAL BRANDS FINANCE PLC 9% GTD NTS 17/02/22 GBP500001.27%
4TREASURY 3.25% GILT 22/01/44 GBP0.011.24%
5WELLS FARGO BANK NA 5.25% SUBORD NTS 01/08/23 GBP500001.06%
6AT&T INC 4.875% UNSEC BDS 01/06/44 GBP1000001.04%
7MICROSOFT CORP 4% BDS 12/02/55 USD20000.83%
8MONDELEZ INTL INC 4.5% BDS 03/12/35 GBP10000.82%
9VERIZON COMMUNICATIONS INC 5.012% BDS 21/08/54 USD20000.82%
Management
Fund manager group
M&G
Fund manager company
M&G UK
Fund type
OEIC
Fund objective
The fund invests mainly in high quality corporate bonds, with the aim of delivering a higher income and capital growth than that available from investment in UK government fixed income securities of similar maturities (the length of time until the final repayment date). The fund manager may also hold up to 20% of the portfolio in other fixed income investments. Exposure to these assets is gained through physical holdings and the use of derivatives. The fund manager is assisted by an in-house team of independent credit analysts in the selection of individual bond issues.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Richard Woolnough27/02/2004Richard Woolnough joined M&G in January 2004 and is fund manager of the M&G Optimal Income Fund, the M&G Corporate Bond Fund and the M&G Strategic Corporate Bond Fund, three of the company's flagship fixed interest funds. Richard began his career at Lloyds Merchant Bank in 1985, moving to Italian insurer Assicurazioni Generali two years later, followed by SG Warburg. In 1995, he became a fund manager at Old Mutual. Richard graduated from the London School of Economics with a BSc in Economics.
Ben Lord01/01/2007Ben Lord joined M&G in 2007 and is the fund manager of the M&G UK Inflation Linked Corporate Bond Fund. Ben has also managed the M&G Global Corporate Bond Fund from launch in September 2013 and was appointed fund manager of the M&G Index Linked Bond Fund in July 2015. Ben previously worked at Gordian Knot as a credit analyst covering global financial institutions. He obtained an MA (Hons) from the University of Edinburgh and is a CFA charterholder.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, IA Recognised, SRS, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Chile, Germany, Denmark, Spain, Finland, France, United Kingdom, Gulf Cooperation Council, Ireland, Italy, Republic Of Korea, Luxembourg, Netherlands, Norway, Singapore, Sweden
M&G Corporate Bond A Acc GBP
Initial charge3%
Annual charge1%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.16%
Total expense ratio (TER)1.16%
Bid price-
Offer price-
Mid price66.44
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMA93
M&G Corporate Bond A Gr Acc EUR
Initial charge3.25%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISAYes
Ongoing charge (OCF)1.41%
Total expense ratio (TER)1.41%
Bid price-
Offer price-
Mid price18.5496
CurrencyEUR
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeM454
M&G Corporate Bond A Inc GBP
Initial charge3%
Annual charge1%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.16%
Total expense ratio (TER)1.16%
Bid price-
Offer price-
Mid price40.63
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMA85
M&G Corporate Bond C Gr Acc EUR
Initial charge1.25%
Annual charge0.5%
Min single investment£500,000
Min regular saving£50,000
Available in ISAYes
Ongoing charge (OCF)0.66%
Total expense ratio (TER)0.66%
Bid price-
Offer price-
Mid price19.6248
CurrencyEUR
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeM455
M&G Corporate Bond Inst Acc GBP
Initial charge1%
Annual charge0.5%
Min single investment£500,000
Min regular saving£10,000
Available in ISAYes
Ongoing charge (OCF)0.66%
Total expense ratio (TER)0.66%
Bid price-
Offer price-
Mid price69.01
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeABF5
M&G Corporate Bond Inst Inc GBP
Initial charge1%
Annual charge0.5%
Min single investment£500,000
Min regular saving£10,000
Available in ISANo
Ongoing charge (OCF)0.66%
Total expense ratio (TER)0.66%
Bid price-
Offer price-
Mid price40.74
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeABF4
M&G Corporate Bond R Acc GBP
Initial charge1%
Annual charge0.75%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.91%
Total expense ratio (TER)0.91%
Bid price-
Offer price-
Mid price122.45
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0ZCV
M&G Corporate Bond R Inc GBP
Initial charge1%
Annual charge0.75%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.91%
Total expense ratio (TER)0.91%
Bid price-
Offer price-
Mid price108.76
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0ZCW
M&G Corporate Bond X Acc GBP
Initial charge-
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.41%
Total expense ratio (TER)1.41%
Bid price-
Offer price-
Mid price64.49
CurrencyGBX
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMA94
M&G Corporate Bond X Inc GBP
Initial charge-
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.41%
Total expense ratio (TER)1.41%
Bid price-
Offer price-
Mid price40.6
CurrencyGBX
Price updated08/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMA95
Data provided by

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