Fact sheet: M&G Episode Macro

Fund information
Fund name
M&G Episode Macro T Hedged GBP
Fund manager company
M&G UK
Fund type
OEIC
Fund managers
  • David Fishwicksince 03/06/2010
  • Eric Lonergansince 03/06/2010
Fund objective
The fund aims to deliver a higher total return (the combination of income and growth of capital) with smaller fluctuations in returns on average, than company shares from around the world, over rolling periods of three to five years. The fund managers follow a highly flexible investment approach, with the freedom to invest in different types of assets. The approach combines in-depth research to determine the value of assets over the medium to long term, with analysis of investors’ emotional reaction to events to identify investment opportunities. The fund gains access to assets directly and indirectly through derivatives.
Benchmark
  • No Specified Index
Investment style
Absolute Return,Macro
Investment method
Mixed
Quick stats
1 Year return
8.5%
1 Year rank in sector
97/119
Sector
UT Specialist
Yield
-
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.
0.95%
Fund size
£263m (£81m 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.
57
Mid price
130.6
Top in this sector
Fund name1 Year
SF Petrhse Sm Cos Gold77.3%
WAY Charteris Gd Prcsml57.2%
Old Mutual JPM Nat Res55.8%
JPM Natural Resources54.6%
Jupiter India49.1%
...more in UT Specialist

Performance snapshot

Holdings snapshot

  • Money Market116.5%
    Asia Pacific ex Japan16.2%
    Japan2.4%
    Europe-7.3%
    UK-13.7%
  • Unknown148%
    AAA-14.7%
    AA-33.3%
  • Money Market116.6%
    Asia Pacific ex Japan Equities16.2%
    European Equities7.3%
    US Equities4.6%
    Japanese Equities2.4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.4%1.8%6.2%8.5%23.3%19.4%
Sector-0.6%5.1%5.3%20.5%22.4%28.6%
Rank within sector52 / 11892 / 11955 / 11997 / 11962 / 11260 / 93
Quartile2nd4th2nd4th3rd3rd
Calendar performance
 YTD - 20172016201520142013
Fund2%8.9%2.7%8.6%7%
Sector3.5%22.7%-4.5%1.2%4.5%
Rank within sector82 / 11985 / 11826 / 11424 / 11044 / 100
Quartile3rd3rd1st1st2nd
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.
2.94
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.
0.54
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.
0.59
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%.
5.48
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.
5.2
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.
-0.06
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.
0.33
Price movement
52 week high131.62
52 week low115.26
Current bid price-
Current offer price-
Current mid price130.6
Region
1Money Market116.5%
2Asia Pacific ex Japan16.2%
3Japan2.4%
4Europe-7.3%
5UK-13.7%
6USA-14.1%
Industry sector
1Unknown148.03%
2AAA-14.68%
3AA-33.34%
Asset type
1Money Market116.61%
2Asia Pacific ex Japan Equities16.16%
3European Equities7.34%
4US Equities4.55%
5Japanese Equities2.43%
6UK Equities0.92%
7UK Gilts-14.66%
8European Government Fixed Interest-14.68%
9US Government Fixed Interest-18.69%
Individual holdings
No data available.
Management
Fund manager group
M&G
Fund manager company
M&G UK
Fund type
OEIC
Fund objective
The fund aims to deliver a higher total return (the combination of income and growth of capital) with smaller fluctuations in returns on average, than company shares from around the world, over rolling periods of three to five years. The fund managers follow a highly flexible investment approach, with the freedom to invest in different types of assets. The approach combines in-depth research to determine the value of assets over the medium to long term, with analysis of investors’ emotional reaction to events to identify investment opportunities. The fund gains access to assets directly and indirectly through derivatives.
Benchmark
  • No Specified Index
Investment style
Absolute Return,Macro
Investment method
Mixed
Fund managers
NameSinceBiography
David Fishwick03/06/2010David Fishwick is Head of Macro and Equities Investment at M&G Investments and co-fund manager of the M&G Episode Macro Fund. He is also fund manager of the M&G Managed Growth Fund. Dave has more than 20 years of investment management experience, having joined Prudential Portfolio Managers (now M&G Investments) in 1987 as a European economist and subsequently being responsible for forming views on global bond and currency markets and applying them to multi-asset funds. In 1994, Dave relocated to Australia where he was appointed head of fixed interest and asset allocation strategy in 1997. During that time, he developed his ideas on market behaviour and designed the strategy, philosophy and process implemented for an overlay mandate for the Prudential Life Fund upon his return to Europe in 1999. In light of the success of this mandate, the M&G Episode Macro Fund was launched in 2010, which follows the same strategy. Dave has a BSc in economics from Brunel University, London.
Eric Lonergan03/06/2010Eric Lonergan joined M&G in 2006 as a member of Dave Fishwick’s Multi Asset team and is manager of the M&G Episode Defensive Fund since launch in September 2012. He is also co-manager of the M&G Episode Macro Fund and the M&G Episode Growth Fund. Prior to joining M&G, Eric was managing director and head of macro research at JP Morgan Cazenove. He has a BA in politics, philosophy and economics from Pembroke College, Oxford, and an MSc in economics from the London School of Economics.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, United Kingdom, Ireland, Italy, Luxembourg, Netherlands, Norway, Singapore, Sweden
M&G Episode Macro B H Acc EUR
Initial charge1.25%
Annual charge2.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)2.47%
Total expense ratio (TER)2.47%
Bid price-
Offer price-
Mid price11.6773
CurrencyEUR
Price updated22/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0ZB8
M&G Episode Macro S Hedged EUR
Initial charge4%
Annual charge1.75%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.97%
Total expense ratio (TER)1.97%
Bid price-
Offer price-
Mid price12.772
CurrencyEUR
Price updated22/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJ5I5
M&G Episode Macro S Hedged GBP
Initial charge1%
Annual charge1.75%
Min single investment£500
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1.96%
Total expense ratio (TER)1.96%
Bid price-
Offer price-
Mid price132.77
CurrencyGBX
Price updated22/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJ5I4
M&G Episode Macro S USD
Initial charge4%
Annual charge1.75%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.93%
Total expense ratio (TER)1.93%
Bid price-
Offer price-
Mid price13.1414
CurrencyUSD
Price updated22/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJ5I6
M&G Episode Macro SH Acc CHF
Initial charge4%
Annual charge1.75%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.95%
Total expense ratio (TER)1.95%
Bid price-
Offer price-
Mid price13.3167
CurrencyCHF
Price updated22/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGLEJ
M&G Episode Macro T Hedged EUR
Initial charge4%
Annual charge0.75%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.95%
Total expense ratio (TER)3.04%
Bid price-
Offer price-
Mid price12.5183
CurrencyEUR
Price updated22/03/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJ5I2
M&G Episode Macro T Hedged GBP
Initial charge1%
Annual charge0.75%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.95%
Total expense ratio (TER)2.51%
Bid price-
Offer price-
Mid price130.6
CurrencyGBX
Price updated22/03/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJ5I1
M&G Episode Macro T USD
Initial charge4%
Annual charge0.75%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.93%
Total expense ratio (TER)0.93%
Bid price-
Offer price-
Mid price13.5992
CurrencyUSD
Price updated22/03/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJ5I3
M&G Episode Macro TH Acc CHF
Initial charge4%
Annual charge0.75%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.95%
Total expense ratio (TER)0.95%
Bid price-
Offer price-
Mid price13.7083
CurrencyCHF
Price updated22/03/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeGLEK
Data provided by

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