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 30/09/2013
  • Yannis Karachaliossince 30/09/2013
  • Leonard Vinvillesince 12/07/2007
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
10.2%
1 Year rank in sector
108/125
Sector
UT Specialist
Yield
1.8%
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.
0.92%
Fund size
£1,838m (£1,714m 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.
72
Mid price
135.26
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Performance snapshot

Holdings snapshot

  • USA37.5%
    Netherlands13.2%
    Germany7.8%
    Japan5.2%
    Mexico4.3%
  • Non-Rated41.6%
    BB24.4%
    BBB18.3%
    A11.1%
    B3.6%
  • US Fixed Interest37.5%
    Dutch Fixed Interest13.2%
    German Fixed Interest7.8%
    Japanese Fixed Interest5.2%
    Mexican Fixed Interest4.3%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund2%3.9%2.9%10.2%13.4%34.4%
Sector2.7%6.7%6.1%27.6%22.8%27.8%
Rank within sector71 / 12492 / 12588 / 125108 / 12587 / 117-
Quartile3rd3rd3rd4th3rd
Calendar performance
 YTD - 20172016201520142013
Fund2.8%3%4%4.6%15.2%
Sector4.1%22.7%-4.5%1.2%4.5%
Rank within sector63 / 124112 / 12423 / 12053 / 11530 / 105
Quartile3rd4th1st2nd2nd
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.
1.24
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.
0.39
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.
0.14
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%.
6.65
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.
7.89
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.
-0.46
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 high135.34
52 week low121.55
Current bid price-
Current offer price-
Current mid price135.26
Region
1USA37.46%
2Netherlands13.2%
3Germany7.82%
4Japan5.18%
5Mexico4.31%
6UK3.43%
7Singapore3.21%
8Luxembourg2.7%
9Italy2.47%
Industry sector
1Non-Rated41.64%
2BB24.41%
3BBB18.31%
4A11.06%
5B3.65%
6CCC0.54%
7AAA0.34%
8D0.06%
Asset type
1US Fixed Interest37.46%
2Dutch Fixed Interest13.2%
3German Fixed Interest7.82%
4Japanese Fixed Interest5.18%
5Mexican Fixed Interest4.31%
6UK Fixed Interest3.43%
7Singapore Fixed Interest3.21%
8Luxembourg Fixed Interest2.7%
9Italian Fixed Interest2.47%
Individual holdings
1CITRIX SYSTEMS INC 0.5% CNV BDS 15/04/19 USD10004.39%
2YAHOO INC 0% CNV BDS 01/12/18 USD10003.66%
3PRICELINE GROUP INC (THE) 0.9% NTS 15/09/21 USD10002.8%
4RAG STIFTUNG 0% CNV BDS 18/02/21(EVONIK)EUR1000002.6%
5SIEMENS FINANCIERINGSMAAT NV 1.65% NTS 16/08/19 USD2500002.52%
6NXP SEMICONDUCTORS NV 1% SR NTS 01/12/19 USD10002.2%
7PRICELINE GROUP INC (THE) 0.35% SNR CNV NTS 15/06/20 USD10002.18%
8TELENOR ASA 0.25% CNV BDS 20/09/19 USD2000001.99%
9CAPITALAND 1.95% CNV BDS 17/10/23 SGD2500001.97%
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 Romani30/09/2013David 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 Karachalios30/09/2013Yannis 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 Vinville12/07/2007Léonard 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)1.66%
Total expense ratio (TER)1.66%
Bid price-
Offer price-
Mid price210.15
CurrencyGBX
Price updated23/02/2017
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)1.66%
Total expense ratio (TER)1.66%
Bid price-
Offer price-
Mid price17.3838
CurrencyEUR
Price updated23/02/2017
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)1.68%
Total expense ratio (TER)1.68%
Bid price-
Offer price-
Mid price14.3338
CurrencyEUR
Price updated23/02/2017
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)1.66%
Total expense ratio (TER)1.66%
Bid price-
Offer price-
Mid price16.5033
CurrencyEUR
Price updated23/02/2017
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)1.66%
Total expense ratio (TER)1.66%
Bid price-
Offer price-
Mid price181.96
CurrencyGBX
Price updated23/02/2017
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)1.68%
Total expense ratio (TER)1.68%
Bid price-
Offer price-
Mid price12.632
CurrencyCHF
Price updated23/02/2017
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)1.68%
Total expense ratio (TER)1.68%
Bid price-
Offer price-
Mid price131.49
CurrencyGBX
Price updated23/02/2017
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)1.68%
Total expense ratio (TER)1.68%
Bid price-
Offer price-
Mid price13.2313
CurrencyUSD
Price updated23/02/2017
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)1.68%
Total expense ratio (TER)1.68%
Bid price-
Offer price-
Mid price13.6415
CurrencyEUR
Price updated23/02/2017
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)1.67%
Total expense ratio (TER)1.67%
Bid price-
Offer price-
Mid price12.7835
CurrencyUSD
Price updated23/02/2017
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)2.16%
Total expense ratio (TER)2.16%
Bid price-
Offer price-
Mid price13.6289
CurrencyEUR
Price updated23/02/2017
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)2.15%
Total expense ratio (TER)2.15%
Bid price-
Offer price-
Mid price11.0547
CurrencyEUR
Price updated23/02/2017
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)2.18%
Total expense ratio (TER)2.18%
Bid price-
Offer price-
Mid price11.4786
CurrencyEUR
Price updated23/02/2017
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)2.17%
Total expense ratio (TER)2.17%
Bid price-
Offer price-
Mid price10.4478
CurrencyEUR
Price updated23/02/2017
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 price18.6805
CurrencyEUR
Price updated23/02/2017
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 price15.2226
CurrencyEUR
Price updated23/02/2017
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)0.9%
Total expense ratio (TER)0.9%
Bid price-
Offer price-
Mid price17.6907
CurrencyEUR
Price updated23/02/2017
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)0.92%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price13.0578
CurrencyCHF
Price updated23/02/2017
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)0.95%
Total expense ratio (TER)0.95%
Bid price-
Offer price-
Mid price13.6884
CurrencyUSD
Price updated23/02/2017
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 price14.4071
CurrencyEUR
Price updated23/02/2017
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)0.93%
Total expense ratio (TER)0.93%
Bid price-
Offer price-
Mid price12.9538
CurrencyUSD
Price updated23/02/2017
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)0.92%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price135.26
CurrencyGBX
Price updated23/02/2017
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 price222.5
CurrencyGBX
Price updated23/02/2017
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 price1492.91
CurrencyGBX
Price updated23/02/2017
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)1.16%
Total expense ratio (TER)1.16%
Bid price-
Offer price-
Mid price159.45
CurrencyGBX
Price updated23/02/2017
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)1.13%
Total expense ratio (TER)1.13%
Bid price-
Offer price-
Mid price149.09
CurrencyGBX
Price updated23/02/2017
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)1.19%
Total expense ratio (TER)1.19%
Bid price-
Offer price-
Mid price135.05
CurrencyGBX
Price updated23/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGLEI
Data provided by

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You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.