Fact sheet: M&G European Loan

Fund information
Fund name
M&G European Loan B GBP
Fund manager company
M&G Ireland
Fund type
OEIC
Fund managers
  • Dan Gardnersince 14/08/2005
  • Fiona Hagdrupsince 14/08/2005
Fund objective
The investment aim of the Fund is to create attractive levels of current income for investors while maintaining relatively low volatility of net asset value. The Fund principally invests in a diversified portfolio of leveraged loans and sub-participations in leveraged loans. The Fund may also invest in senior secured floating rate notes (being public bond issues that possess similar structural features and security to senior leveraged loans). The term ‘Leveraged Loans’ refers to debt issued by companies, typically to finance internal growth, acquisitions, mergers and leveraged buy-outs (LBOs) by private equity sponsors. The leverage refers to the capital structure of the issuing company, which incorporates a significant amount of debt (circa 50-70%).
Benchmark
  • No Specified Index
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
4%
1 Year rank in sector
11/25
Sector
FO Fixed Int - Europe
Yield
-
Fund size
£3,534m
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.
15
Top in this sector
Fund name1 Year
Robeco Eurpn Hi Yld Bds8.2%
T. Rowe Price EurHiYdBd7.7%
Fidelity Inst Eur Hi Yld7.4%
Henderson HzEurHighYldBd6.7%
Morg Stnly Erpn Cur HiYd Bd6.7%
...more in FO Fixed Int - Europe

Performance snapshot

Holdings snapshot

  • UK28.5%
    USA16%
    Germany13.4%
    France9.9%
    Netherlands7.3%
  • Others26.2%
    Healthcare & Medical Products9.1%
    Paper - Packaging & Printing9%
    Foods8.8%
    Media8.2%
  • UK Fixed Interest28.5%
    US Fixed Interest16%
    German Fixed Interest13.4%
    French Fixed Interest9.9%
    Dutch Fixed Interest7.3%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.1%1.5%4%10.2%25.6%
Sector-0.4%-0.6%2%3.3%11%30.2%
Rank within sector-1 / 2615 / 2511 / 2512 / 1812 / 15
Quartile1st3rd2nd3rd4th
Calendar performance
 YTD - 20162015201420132012
Fund3.9%3%2.5%6.3%6.9%
Sector4%1.1%5.2%4.2%11.7%
Rank within sector13 / 255 / 2013 / 1810 / 1713 / 15
Quartile3rd1st3rd3rd4th
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.
2.52
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.
0.27
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.
-
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%.
1.66
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.
2.49
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.
0.19
Price movement
52 week high85.97
52 week low83.34
Current bid price-
Current offer price-
Current mid price85.97
Region
1UK28.5%
2USA16%
3Germany13.4%
4France9.9%
5Netherlands7.3%
6Spain5.1%
7Switzerland4.5%
8Italy3.6%
9Sweden3.4%
Industry sector
1Others26.2%
2Healthcare & Medical Products9.1%
3Paper - Packaging & Printing9%
4Foods8.8%
5Media8.2%
6Support Services6.8%
7Software6.5%
8Health Care6%
9Leisure6%
Asset type
1UK Fixed Interest28.5%
2US Fixed Interest16%
3German Fixed Interest13.4%
4French Fixed Interest9.9%
5Dutch Fixed Interest7.3%
6Spanish Fixed Interest5.1%
7Swiss Fixed Interest4.5%
8Italian Fixed Interest3.6%
9Swedish Fixed Interest3.4%
Individual holdings
1VIRGIN MEDIA2.6%
2ZIGGO2.5%
3INEOS2.3%
4SCOUT 242.2%
5JDE2%
6GALA CORAL1.9%
7QUIRON SALUD1.9%
8PARK RESORTS1.7%
9PHS1.7%
Management
Fund manager group
M&G
Fund manager company
M&G Ireland
Fund type
OEIC
Fund objective
The investment aim of the Fund is to create attractive levels of current income for investors while maintaining relatively low volatility of net asset value. The Fund principally invests in a diversified portfolio of leveraged loans and sub-participations in leveraged loans. The Fund may also invest in senior secured floating rate notes (being public bond issues that possess similar structural features and security to senior leveraged loans). The term ‘Leveraged Loans’ refers to debt issued by companies, typically to finance internal growth, acquisitions, mergers and leveraged buy-outs (LBOs) by private equity sponsors. The leverage refers to the capital structure of the issuing company, which incorporates a significant amount of debt (circa 50-70%).
Benchmark
  • No Specified Index
Investment style
High Yield
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Dan Gardner14/08/2005Dan Gardner is a director in the Leverage Finance team and has 20 years of investment experience, the last 14 of which have been in leveraged finance. He joined M&G in 2001 on the public high yield business segment and then, in 2005, assumed responsibility for leveraged loan portfolio management for the insurance funds of the Prudential group and a range of separate accounts and market value loan funds. Prior to joining M&G, Dan was a portfolio manager at Gulf International Bank in London and at Bankers Trust Company in New York. Dan has an MA in law from Christ Church, Oxford, and an MBA from Cornell University in Ithaca, New York.
Fiona Hagdrup14/08/2005Fiona Hagdrup joined M&G as a director in August 2003. She manages both the Leveraged Finance group’s structured vehicles, as well as a number of separate, market value accounts and is the secondary manager of M&G European Loan Fund. Prior to joining M&G, Fiona was a corporate debt capital markets origination executive at BNP Paribas, responsible for the Nordic region. Before that, Fiona worked for nine years at SEB, a Nordic financial institution, involved in both loan and fixed income origination. Fiona is a chartered accountant, having qualified with Ernst & Young. She has a MA in history from Cambridge University.
Compliance
Transparent for Swiss Tax, Distributor Status, Reporting Fund Status
Domicile
No data available.
Fund for sale in
United Kingdom, Ireland, Offshore
M&G European Loan A EUR
Initial charge2%
Annual charge1.11%
Min single investment£100,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price77.8767
CurrencyEUR
Price updated31/10/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeA0S7
M&G European Loan A GBP
Initial charge2%
Annual charge1.11%
Min single investment£100,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price87.4975
CurrencyGBP
Price updated31/10/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeQD13
M&G European Loan B GBP
Initial charge1.25%
Annual charge1.51%
Min single investment£100,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price85.9727
CurrencyGBP
Price updated31/10/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeQD14
M&G European Loan C Acc EUR
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price102.3029
CurrencyEUR
Price updated31/10/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeNB2Q
M&G European Loan C EUR
Initial charge4%
Annual charge0.66%
Min single investment£30,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price111.9204
CurrencyEUR
Price updated31/10/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeA0T3
M&G European Loan C GBP
Initial charge1.25%
Annual charge0.66%
Min single investment£30,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price88.9251
CurrencyGBP
Price updated31/10/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeQD15
M&G European Loan D
Initial charge-
Annual charge-
Min single investment£30,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price100.9054
CurrencyEUR
Price updated31/10/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeK31D
M&G European Loan R EUR
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price100.2284
CurrencyEUR
Price updated31/10/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeMT8A
M&G European Loan R GBP
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price88.5325
CurrencyGBP
Price updated31/10/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeJEHX
Data provided by

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