Fact sheet: M&G Gbl Convertibles

Fund information
Fund name
M&G Global Convertibles IH Acc GBP
Fund manager company
M&G UK
Fund type
OEIC
Fund managers
  • David Romanisince 01/10/2013
  • Yannis Karachaliossince 01/10/2013
  • Leonard Vinvillesince 13/07/2007
Fund objective
The fund aims to deliver income and capital growth over the long term (that is, over five years or more) by investing in a diversified portfolio of convertible bonds. These are a form of debt issued by companies that can be converted into shares, either of the issuer or another company. When selecting convertible bonds, the fund manager looks to participate in the rise of share prices whilst also benefiting from the unique ability of convertibles to provide a degree of protection against share price falls. The fund manager may use derivatives for investment purposes.
Benchmark
  • Thomson Reuters Global Focus Convertible Index
Investment style
None
Investment method
Convertibles
Quick stats
1 Year return
5.6%
1 Year rank in sector
95/111
Sector
UT Specialist
Yield
1.7%
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.
0.93%
Fund size
£1,926m (£1,593m 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.
46
Mid price
135.52
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Performance snapshot

Holdings snapshot

  • USA36.1%
    Netherlands11.4%
    Germany9.1%
    Money Market4.8%
    Mexico4%
  • Technology22.5%
    Financials12.6%
    Industrials11.1%
    Basic Materials9.8%
    Health Care8.9%
  • US Fixed Interest36.1%
    Dutch Fixed Interest11.4%
    German Fixed Interest9.1%
    Money Market4.8%
    Mexican Fixed Interest4%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.2%2.2%4%5.6%13.8%40.7%
Sector-1.5%1.2%1.5%15.7%21.8%31%
Rank within sector28 / 11142 / 11127 / 11195 / 11176 / 104-
Quartile2nd2nd1st4th3rd
Calendar performance
 YTD - 20172016201520142013
Fund3%3%4%4.6%15.2%
Sector2.7%22.7%-4.5%1.2%4.5%
Rank within sector51 / 11198 / 11021 / 10645 / 10225 / 92
Quartile2nd4th1st2nd2nd
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.
1.2
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.
0.38
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.
0.13
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%.
6.48
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.
7.85
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.
-0.48
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 high135.71
52 week low123.21
Current bid price-
Current offer price-
Current mid price135.52
Region
1USA36.06%
2Netherlands11.38%
3Germany9.06%
4Money Market4.79%
5Mexico4%
6Japan3.94%
7UK3.29%
8Singapore3.14%
9France2.7%
Industry sector
1Technology22.54%
2Financials12.58%
3Industrials11.12%
4Basic Materials9.78%
5Health Care8.94%
6Consumer Services8.37%
7Others5.4%
8Oil & Gas5.06%
9Telecommunications5.02%
Asset type
1US Fixed Interest36.06%
2Dutch Fixed Interest11.38%
3German Fixed Interest9.06%
4Money Market4.79%
5Mexican Fixed Interest4%
6Japanese Fixed Interest3.94%
7UK Fixed Interest3.29%
8Singapore Fixed Interest3.14%
9French Fixed Interest2.7%
Individual holdings
1CITRIX SYSTEMS INC 0.5% CNV BDS 15/04/19 USD10004.52%
2YAHOO INC 0% CNV BDS 01/12/18 USD10003.53%
3PRICELINE GROUP INC (THE) 0.9% NTS 15/09/21 USD10002.74%
4SIEMENS FINANCIERINGSMAAT NV 1.65% NTS 16/08/19 USD2500002.54%
5RAG STIFTUNG 0% CNV BDS 18/02/21(EVONIK)EUR1000002.39%
6TELENOR ASA 0.25% CNV BDS 20/09/19 USD2000002.33%
7NXP SEMICONDUCTORS NV 1% SR NTS 01/12/19 USD10002.13%
8RAG STIFTUNG ZC 2017/16.03.2023 CV1.96%
9CAPITALAND 1.95% CNV BDS 17/10/23 SGD2500001.93%
Management
Fund manager group
M&G
Fund manager company
M&G UK
Fund type
OEIC
Fund objective
The fund aims to deliver income and capital growth over the long term (that is, over five years or more) by investing in a diversified portfolio of convertible bonds. These are a form of debt issued by companies that can be converted into shares, either of the issuer or another company. When selecting convertible bonds, the fund manager looks to participate in the rise of share prices whilst also benefiting from the unique ability of convertibles to provide a degree of protection against share price falls. The fund manager may use derivatives for investment purposes.
Benchmark
  • Thomson Reuters Global Focus Convertible Index
Investment style
None
Investment method
Convertibles
Fund managers
NameSinceBiography
David Romani01/10/2013David Romani was appointed deputy manager of the M&G Global Convertibles Fund in October 2013. David joined M&G in 2005, performing a variety of roles in strategic planning, marketing and client communications before becoming a dedicated convertibles analyst in the Global Convertibles team. Prior to joining M&G, he worked for Prudential and as a consultant to the asset management and life insurance industries. David holds an MBA degree from the University of Chicago and is a CFA charterholder.
Yannis Karachalios01/10/2013Yannis Karachalios was appointed deputy manager of the M&G Global Convertibles Fund in October 2013, having joined M&G in 2011 as a credit analyst dedicated to the convertible bonds team. He is responsible for the credit analysis of convertible bonds and he has eight years of experience in high yield, leveraged loans and distressed debt. Yannis previously worked at Alpstar Capital in Geneva. Prior to this, he was a high yield credit analyst at Hermes Fund Managers London. Yannis has an MSc in financial economics from Brunel University.
Leonard Vinville13/07/2007Léonard Vinville joined M&G in 2002, and since then has been managing the convertibles allocation of the Prudential With Profit Life Fund. He has also been responsible for managing the M&G Global Convertibles Fund since its launch in July 2007. Both funds are run with the same investment approach and with an emphasis on generating strong risk-adjusted returns. Prior to joining M&G, Léonard was head of European convertibles at AGF Asset Management in Paris, where he managed convertibles and French equity mandates. He has an MBA and is qualified as a chartered accountant.
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, Chile, Germany, Denmark, Spain, Finland, France, United Kingdom, Ireland, Italy, Luxembourg, Netherlands, Norway, Singapore, Sweden
M&G Global Convertibles A Acc GBP
Initial charge4%
Annual charge1.5%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.67%
Total expense ratio (TER)1.67%
Bid price-
Offer price-
Mid price206.43
CurrencyGBX
Price updated21/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeAEZ3
M&G Global Convertibles A GrAcc EUR
Initial charge4%
Annual charge1.5%
Min single investment£1,000
Min regular saving£75
Available in ISAYes
Ongoing charge (OCF)1.67%
Total expense ratio (TER)1.67%
Bid price-
Offer price-
Mid price17.2686
CurrencyEUR
Price updated21/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeAEZ0
M&G Global Convertibles A Hedged Acc EUR
Initial charge4%
Annual charge1.5%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.69%
Total expense ratio (TER)1.69%
Bid price-
Offer price-
Mid price14.3194
CurrencyEUR
Price updated21/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeIVK0
M&G Global Convertibles A Inc EUR
Initial charge4%
Annual charge1.5%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.68%
Total expense ratio (TER)1.68%
Bid price-
Offer price-
Mid price16.394
CurrencyEUR
Price updated21/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJCZW
M&G Global Convertibles A Inc GBP
Initial charge4%
Annual charge1.5%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.67%
Total expense ratio (TER)1.67%
Bid price-
Offer price-
Mid price178.74
CurrencyGBX
Price updated21/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeAEZ2
M&G Global Convertibles AH Acc CHF
Initial charge4%
Annual charge1.5%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.69%
Total expense ratio (TER)1.69%
Bid price-
Offer price-
Mid price12.6114
CurrencyCHF
Price updated21/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGLDY
M&G Global Convertibles AH Acc GBP
Initial charge4%
Annual charge1.5%
Min single investment£500
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1.66%
Total expense ratio (TER)1.66%
Bid price-
Offer price-
Mid price131.52
CurrencyGBX
Price updated21/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGLEA
M&G Global Convertibles AH Acc USD
Initial charge4%
Annual charge1.5%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.69%
Total expense ratio (TER)1.69%
Bid price-
Offer price-
Mid price13.2528
CurrencyUSD
Price updated21/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGLDZ
M&G Global Convertibles AH Inc EUR
Initial charge4%
Annual charge1.5%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.7%
Total expense ratio (TER)1.7%
Bid price-
Offer price-
Mid price13.624
CurrencyEUR
Price updated21/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJCZX
M&G Global Convertibles AH Inc USD
Initial charge4%
Annual charge1.5%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.69%
Total expense ratio (TER)1.69%
Bid price-
Offer price-
Mid price12.8103
CurrencyUSD
Price updated21/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKJ1P
M&G Global Convertibles B Acc EUR
Initial charge1.25%
Annual charge2%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)2.17%
Total expense ratio (TER)2.17%
Bid price-
Offer price-
Mid price13.5281
CurrencyEUR
Price updated21/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJD0H
M&G Global Convertibles B Inc
Initial charge1.25%
Annual charge2%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)2.18%
Total expense ratio (TER)2.18%
Bid price-
Offer price-
Mid price10.973
CurrencyEUR
Price updated21/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPEG
M&G Global Convertibles BH Acc EUR
Initial charge1.25%
Annual charge2%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)2.19%
Total expense ratio (TER)2.19%
Bid price-
Offer price-
Mid price11.4543
CurrencyEUR
Price updated21/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJD0I
M&G Global Convertibles BH Inc
Initial charge1.25%
Annual charge2%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)2.19%
Total expense ratio (TER)2.19%
Bid price-
Offer price-
Mid price10.4357
CurrencyEUR
Price updated21/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPEH
M&G Global Convertibles C GrAcc EUR
Initial charge1.25%
Annual charge0.75%
Min single investment£500,000
Min regular saving£50,000
Available in ISAYes
Ongoing charge (OCF)0.91%
Total expense ratio (TER)0.91%
Bid price-
Offer price-
Mid price18.5785
CurrencyEUR
Price updated21/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeAFA9
M&G Global Convertibles C Hedged Acc EUR
Initial charge1.25%
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 price15.2244
CurrencyEUR
Price updated21/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeIVK1
M&G Global Convertibles C Inc EUR
Initial charge1.25%
Annual charge0.75%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.91%
Total expense ratio (TER)0.91%
Bid price-
Offer price-
Mid price17.5941
CurrencyEUR
Price updated21/04/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKJ1N
M&G Global Convertibles CH Acc CHF
Initial charge1.25%
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 price13.0536
CurrencyCHF
Price updated21/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeGLEB
M&G Global Convertibles CH Acc USD
Initial charge1.25%
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 price13.7262
CurrencyUSD
Price updated21/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeGLEC
M&G Global Convertibles CH Inc EUR
Initial charge1.25%
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 price14.4094
CurrencyEUR
Price updated21/04/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKJ1O
M&G Global Convertibles CH Inc USD
Initial charge1.25%
Annual charge0.75%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.94%
Total expense ratio (TER)0.94%
Bid price-
Offer price-
Mid price12.9904
CurrencyUSD
Price updated21/04/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKJ1Q
M&G Global Convertibles IH Acc GBP
Initial charge1%
Annual charge0.75%
Min single investment£500,000
Min regular saving£10,000
Available in ISANo
Ongoing charge (OCF)0.93%
Total expense ratio (TER)0.93%
Bid price-
Offer price-
Mid price135.52
CurrencyGBX
Price updated21/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeGLED
M&G Global Convertibles Inst Acc GBP
Initial charge1%
Annual charge0.75%
Min single investment£500,000
Min regular saving£10,000
Available in ISAYes
Ongoing charge (OCF)0.91%
Total expense ratio (TER)0.91%
Bid price-
Offer price-
Mid price218.81
CurrencyGBX
Price updated21/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeAEZ1
M&G Global Convertibles Inst Inc GBP
Initial charge1%
Annual charge0.75%
Min single investment£500,000
Min regular saving£10,000
Available in ISAYes
Ongoing charge (OCF)0.91%
Total expense ratio (TER)0.91%
Bid price-
Offer price-
Mid price1468.18
CurrencyGBX
Price updated21/04/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi code0ZDV
M&G Global Convertibles R Acc GBP
Initial charge1%
Annual charge1%
Min single investment£500
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1.17%
Total expense ratio (TER)1.17%
Bid price-
Offer price-
Mid price156.65
CurrencyGBX
Price updated21/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0ZDW
M&G Global Convertibles R Inc GBP
Initial charge1%
Annual charge1%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.17%
Total expense ratio (TER)1.17%
Bid price-
Offer price-
Mid price146.56
CurrencyGBX
Price updated21/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0ZDX
M&G Global Convertibles RH Acc GBP
Initial charge1%
Annual charge1%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.18%
Total expense ratio (TER)1.18%
Bid price-
Offer price-
Mid price135.18
CurrencyGBX
Price updated21/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGLEI
Data provided by

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