Fact sheet: M&G GblFlRtHiY

Fund information
Fund name
M&G Global Floating Rate High Yield IH Acc GBP
Fund manager company
M&G UK
Fund type
OEIC
Fund managers
  • James Tomlinssince 10/09/2014
  • Stefan Isaacssince 10/09/2014
Fund objective
The fund seeks to maximise total return (the combination of income and growth of capital), while generating a high level of income, which may vary over time. The fund invests mainly in floating rate notes (FRNs), which are bonds paying a variable coupon that is adjusted in line with changes in interest rates. The fund focuses on FRNs issued by companies with a low credit rating, which typically pay higher levels of interest to compensate investors for the greater risk of default. Part of the fund may be invested in other fixed income assets, such as government bonds. Asset exposure is gained through physical holdings and the use of derivatives.
Benchmark
  • BofA Merrill Lynch Global Floating Rate High Yield Index
Investment style
None
Investment method
Floating Rate Notes
Quick stats
1 Year return
5.6%
1 Year rank in sector
13/23
Sector
UT Sterling High Yield
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.
0.83%
Fund size
£881m (£821m 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.
25
Mid price
105.74
Top in this sector
Fund name1 Year
Fidelity Global High Yield11.7%
Newton Global Hi Yield Bd10.3%
L&G High Income Trust9.7%
Investec MonthlyHiInc9.4%
JPM Global High Yield Bond8.8%
...more in UT Sterling High Yield

Performance snapshot

Holdings snapshot

  • UK22.1%
    USA20.1%
    Money Market16.2%
    Luxembourg10.7%
    Italy6.3%
  • Industrials20.8%
    Consumer Goods16.9%
    Money Market16.2%
    Banks15.8%
    Telecommunications8%
  • Money Market100%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.9%1.7%3.6%5.6%--
Sector-0.4%-0.2%4.2%6.5%10.3%40.7%
Rank within sector1 / 231 / 2315 / 2313 / 23--
Quartile1st1st3rd3rd
Calendar performance
 YTD - 20162015201420132012
Fund6.1%0.3%---
Sector8%-0.3%1.8%6.2%18.4%
Rank within sector17 / 2311 / 23---
Quartile3rd2nd
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.
-
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.
-
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%.
-
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.
-
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.
-
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.
-
Price movement
52 week high105.74
52 week low96.83
Current bid price-
Current offer price-
Current mid price105.74
Region
1UK22.11%
2USA20.11%
3Money Market16.22%
4Luxembourg10.74%
5Italy6.34%
6Ireland5.93%
7France3.91%
8New Zealand3.13%
9Mexico2.94%
Industry sector
1Industrials20.75%
2Consumer Goods16.93%
3Money Market16.22%
4Banks15.85%
5Telecommunications7.98%
6Government Bonds7.96%
7Services7.83%
8Energy3.02%
9Media2.46%
Asset type
1Money Market100%
Individual holdings
No data available.
Management
Fund manager group
M&G
Fund manager company
M&G UK
Fund type
OEIC
Fund objective
The fund seeks to maximise total return (the combination of income and growth of capital), while generating a high level of income, which may vary over time. The fund invests mainly in floating rate notes (FRNs), which are bonds paying a variable coupon that is adjusted in line with changes in interest rates. The fund focuses on FRNs issued by companies with a low credit rating, which typically pay higher levels of interest to compensate investors for the greater risk of default. Part of the fund may be invested in other fixed income assets, such as government bonds. Asset exposure is gained through physical holdings and the use of derivatives.
Benchmark
  • BofA Merrill Lynch Global Floating Rate High Yield Index
Investment style
None
Investment method
Floating Rate Notes
Fund managers
NameSinceBiography
James Tomlins10/09/2014James Tomlins joined M&G in June 2011 and was appointed fund manager of the M&G European High Yield Bond Fund later that year. In January 2014, he became co-manager of the M&G Global High Yield Bond Fund after two years as deputy manager on the fund. James has also managed the M&G Global Floating Rate High Yield Fund since its launch in September 2014. James is a specialist in high yield credit with more than 10 years’ experience in this sector. He was previously an analyst and then a fund manager at Cazenove Capital Management. Before Cazenove, James was at KBC Alternative Investment Management; in the three years prior to that, he worked at Merrill Lynch Investment Managers. James is a CFA charterholder. He graduated with an MA in history and PgDip in economics from the University of Cambridge.
Stefan Isaacs10/09/2014Stefan Isaacs is Deputy Head of Retail Fixed Interest for M&G's mutual fund range. He joined M&G as a graduate in 2001 and was subsequently promoted to corporate bond dealer specialising in high yield bonds and euro-denominated credit. Stefan joined the fund management team in 2006 and was appointed fund manager of the M&G European Corporate Bond Fund in April 2007 and the M&G Global High Yield Bond Fund in October 2010. Stefan is also deputy fund manager of the M&G Optimal Income Fund, the M&G European High Yield Fund and the M&G Global Floating Rate High Yield Fund.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Switzerland, United Kingdom, Italy, Singapore
M&G Global Floating Rate High Yield A Acc USD
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.41%
Total expense ratio (TER)1.41%
Bid price-
Offer price-
Mid price10.5914
CurrencyUSD
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKJHK
M&G Global Floating Rate High Yield A Inc USD
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.41%
Total expense ratio (TER)1.41%
Bid price-
Offer price-
Mid price9.9394
CurrencyUSD
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKJHL
M&G Global Floating Rate High Yield A M Inc USD
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.41%
Total expense ratio (TER)1.41%
Bid price-
Offer price-
Mid price10.1284
CurrencyUSD
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMSFC
M&G Global Floating Rate High Yield A-H M Inc SGD
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.43%
Total expense ratio (TER)1.43%
Bid price-
Offer price-
Mid price10.1903
CurrencySGD
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMSFE
M&G Global Floating Rate High Yield AH Acc CHF
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.42%
Total expense ratio (TER)1.42%
Bid price-
Offer price-
Mid price10.2621
CurrencyCHF
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKJHS
M&G Global Floating Rate High Yield AH Acc EUR
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.43%
Total expense ratio (TER)1.43%
Bid price-
Offer price-
Mid price10.4047
CurrencyEUR
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKJHQ
M&G Global Floating Rate High Yield AH Acc GBP
Initial charge3%
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1.42%
Total expense ratio (TER)1.42%
Bid price-
Offer price-
Mid price104.5
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKJHO
M&G Global Floating Rate High Yield AH Inc CHF
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.39%
Total expense ratio (TER)1.39%
Bid price-
Offer price-
Mid price10.2603
CurrencyCHF
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeBNDE
M&G Global Floating Rate High Yield AH Inc EUR
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.42%
Total expense ratio (TER)1.42%
Bid price-
Offer price-
Mid price9.7436
CurrencyEUR
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKJHR
M&G Global Floating Rate High Yield AH Inc GBP
Initial charge3%
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1.44%
Total expense ratio (TER)1.44%
Bid price-
Offer price-
Mid price99.32
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKJHP
M&G Global Floating Rate High Yield AH Inc SGD
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.42%
Total expense ratio (TER)1.42%
Bid price-
Offer price-
Mid price10.2285
CurrencySGD
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKUVS
M&G Global Floating Rate High Yield BH Acc
Initial charge1.25%
Annual charge1.75%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.92%
Total expense ratio (TER)1.92%
Bid price-
Offer price-
Mid price10.3267
CurrencyEUR
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPEI
M&G Global Floating Rate High Yield BH Inc
Initial charge1.25%
Annual charge1.75%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.91%
Total expense ratio (TER)1.91%
Bid price-
Offer price-
Mid price9.946
CurrencyEUR
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPEJ
M&G Global Floating Rate High Yield C Acc USD
Initial charge1.25%
Annual charge0.65%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.81%
Total expense ratio (TER)0.81%
Bid price-
Offer price-
Mid price10.7299
CurrencyUSD
Price updated01/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKJHM
M&G Global Floating Rate High Yield C Inc USD
Initial charge1.25%
Annual charge0.65%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.82%
Total expense ratio (TER)0.82%
Bid price-
Offer price-
Mid price9.96
CurrencyUSD
Price updated01/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKJHN
M&G Global Floating Rate High Yield C M Inc USD
Initial charge1.25%
Annual charge0.65%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.81%
Total expense ratio (TER)0.81%
Bid price-
Offer price-
Mid price10.1379
CurrencyUSD
Price updated01/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeMSFD
M&G Global Floating Rate High Yield C-H M Inc SGD
Initial charge1.25%
Annual charge0.65%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.83%
Total expense ratio (TER)0.83%
Bid price-
Offer price-
Mid price10.2011
CurrencySGD
Price updated01/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeMSFF
M&G Global Floating Rate High Yield CH Acc CHF
Initial charge1.25%
Annual charge0.65%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.82%
Total expense ratio (TER)0.82%
Bid price-
Offer price-
Mid price10.4086
CurrencyCHF
Price updated01/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKJHT
M&G Global Floating Rate High Yield CH Acc EUR
Initial charge1.25%
Annual charge0.65%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.83%
Total expense ratio (TER)0.83%
Bid price-
Offer price-
Mid price10.5306
CurrencyEUR
Price updated01/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKJHW
M&G Global Floating Rate High Yield CH Inc CHF
Initial charge1.25%
Annual charge0.65%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.86%
Total expense ratio (TER)0.86%
Bid price-
Offer price-
Mid price10.2708
CurrencyCHF
Price updated01/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeBNDF
M&G Global Floating Rate High Yield CH Inc EUR
Initial charge1.25%
Annual charge0.65%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.83%
Total expense ratio (TER)0.83%
Bid price-
Offer price-
Mid price9.7527
CurrencyEUR
Price updated01/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKJHX
M&G Global Floating Rate High Yield EH Acc GBP
Initial charge-
Annual charge0.4%
Min single investment£5,000,000
Min regular saving£5,000,000
Available in ISANo
Ongoing charge (OCF)0.58%
Total expense ratio (TER)0.58%
Bid price-
Offer price-
Mid price106.24
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKJHY
M&G Global Floating Rate High Yield EH Inc GBP
Initial charge-
Annual charge0.4%
Min single investment£5,000,000
Min regular saving£5,000,000
Available in ISANo
Ongoing charge (OCF)0.59%
Total expense ratio (TER)0.59%
Bid price-
Offer price-
Mid price99.5
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKQ8V
M&G Global Floating Rate High Yield IH Acc GBP
Initial charge1%
Annual charge0.65%
Min single investment£500,000
Min regular saving£10,000
Available in ISANo
Ongoing charge (OCF)0.83%
Total expense ratio (TER)0.83%
Bid price-
Offer price-
Mid price105.74
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKJHU
M&G Global Floating Rate High Yield IH Inc GBP
Initial charge1%
Annual charge0.65%
Min single investment£500,000
Min regular saving£10,000
Available in ISANo
Ongoing charge (OCF)0.83%
Total expense ratio (TER)0.83%
Bid price-
Offer price-
Mid price99.49
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKJHV
M&G Global Floating Rate High Yield RH Acc
Initial charge1%
Annual charge1%
Min single investment£500
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1.19%
Total expense ratio (TER)1.19%
Bid price-
Offer price-
Mid price105.09
CurrencyGBX
Price updated01/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKN2Z
M&G Global Floating Rate High Yield RH Inc
Initial charge1%
Annual charge1%
Min single investment£500
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1.18%
Total expense ratio (TER)1.18%
Bid price-
Offer price-
Mid price99.38
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKN2Y
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.