Fact sheet: M&G Index-Linked Bond

Fund information
Fund name
M&G Index-Linked Bond I Acc GBP
Fund manager company
M&G UK
Fund type
OEIC
Fund managers
  • Jim Leavisssince 01/03/2010
  • Ben Lordsince 05/07/2015
Fund objective
The fund is designed to provide a level of protection from the effects of inflation by generating a total return (the combination of income and growth of capital) consistent with investment in index-linked bonds over a rolling five-year period or longer. There is no guarantee that the fund will achieve its objective over this, or any other, period. The fund invests mainly in inflation-linked bonds issued by the UK government. Up to 20% of the portfolio may be invested in index-linked corporate bonds guaranteed by the government or foreign index-linked government bonds. Exposure to these assets is gained through physical holdings and the use of derivatives.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
19%
1 Year rank in sector
11/20
Sector
UT UK Index - Linked Gilts
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.
0.56%
Fund size
£443m (£357m 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.
84
Mid price
1464.76
Top in this sector
Fund name1 Year
Insight UK Index Linked Bond21.4%
BlackRock Idx Lnkd Gilt Trckr20.6%
Blackrock Inst Bd Idx Lkd20.5%
Fidelity Inst UK Idx Lkd Bd20.5%
Newton Index Linked Gilt20.5%
...more in UT UK Index - Linked Gilts

Performance snapshot

Holdings snapshot

  • UK94.7%
    USA4.6%
    Japan0.6%
    Money Market0.1%
  • Government Bonds97.9%
    Automotive0.6%
    Asset/Mortgage-Backed Securities0.5%
    Government Guaranteed0.4%
    Utilities0.3%
  • UK Index-Linked Gilts90.7%
    Global Index Linked5.2%
    UK Gilts2.6%
    UK Corporate Fixed Interest1.4%
    Money Market0.1%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-4.3%-5.4%14.4%19%41.9%48.9%
Sector-4.5%-5.4%13.7%18.4%39.3%45.9%
Rank within sector5 / 214 / 2112 / 2011 / 2010 / 198 / 15
Quartile1st1st3rd3rd3rd3rd
Calendar performance
 YTD - 20162015201420132012
Fund21.8%-0.7%18.7%0.2%-0%
Sector20.9%-1.2%18%-0.3%0.2%
Rank within sector12 / 204 / 2012 / 198 / 1914 / 15
Quartile3rd1st3rd2nd4th
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.
0.42
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.
0.98
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.
0.75
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%.
11.69
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.
1
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.
0.18
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.
0.99
Price movement
52 week high1587.95
52 week low1198.66
Current bid price-
Current offer price-
Current mid price1464.76
Region
1UK94.71%
2USA4.58%
3Japan0.57%
4Money Market0.13%
Industry sector
1Government Bonds97.86%
2Automotive0.57%
3Asset/Mortgage-Backed Securities0.54%
4Government Guaranteed0.43%
5Utilities0.32%
6Cyclical Consumer Goods0.14%
7Money Market0.13%
Asset type
1UK Index-Linked Gilts90.72%
2Global Index Linked5.15%
3UK Gilts2.56%
4UK Corporate Fixed Interest1.44%
5Money Market0.13%
Individual holdings
1TREASURY 0.125% IDX LKD GILT 22/11/65 GBP0.112.54%
2TREASURY 0.75% IDX LKD GILT 22/11/47 GBP10.98%
3TREASURY 0.5% IDX LKD GILT 22/3/50 GBP0.0110.03%
4TREASURY 1.125% IDX GILT 22/11/37 GBP9.36%
5TREASURY 1.25% IDX-LKD GILT 22/11/27 GBP0.017.95%
6TREASURY 0.125% GILT 22/03/44 GBP0.016.49%
7TREASURY 4.125%IDX-LINKED GILT 22/07/30 GBP0.015.64%
8TREASURY 2 1/2% IDX-LINKED GILT 20204.61%
9TREASURY 0.75% IDX-LKD GILT 22/03/34 GBP0.014.05%
Management
Fund manager group
M&G
Fund manager company
M&G UK
Fund type
OEIC
Fund objective
The fund is designed to provide a level of protection from the effects of inflation by generating a total return (the combination of income and growth of capital) consistent with investment in index-linked bonds over a rolling five-year period or longer. There is no guarantee that the fund will achieve its objective over this, or any other, period. The fund invests mainly in inflation-linked bonds issued by the UK government. Up to 20% of the portfolio may be invested in index-linked corporate bonds guaranteed by the government or foreign index-linked government bonds. Exposure to these assets is gained through physical holdings and the use of derivatives.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Jim Leaviss01/03/2010Jim Leaviss is Head of Retail Fixed Interest for M&G’s mutual fund range. He joined M&G in 1997 after five years at the Bank of England. As well as heading up the team, Jim is the fund manager of the M&G Global Macro Bond Fund and the M&G European Inflation Linked Corporate Bond Fund. He is also deputy manager of the M&G Gilt & Fixed Interest Income Fund, the M&G Index-Linked Bond Fund and the M&G UK Inflation Linked Corporate Bond Fund.
Ben Lord05/07/2015Ben Lord joined M&G in 2007 and is the fund manager of the M&G UK Inflation Linked Corporate Bond Fund. Ben has also managed the M&G Global Corporate Bond Fund from launch in September 2013 and was appointed fund manager of the M&G Index Linked Bond Fund in July 2015. Ben previously worked at Gordian Knot as a credit analyst covering global financial institutions. He obtained an MA (Hons) from the University of Edinburgh and is a CFA charterholder.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
M&G Index-Linked Bond A Acc GBP
Initial charge-
Annual charge0.5%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.66%
Total expense ratio (TER)0.66%
Bid price-
Offer price-
Mid price157.1
CurrencyGBX
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codePK40
M&G Index-Linked Bond A Inc GBP
Initial charge-
Annual charge0.5%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)0.66%
Total expense ratio (TER)0.66%
Bid price-
Offer price-
Mid price136.75
CurrencyGBX
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codePK41
M&G Index-Linked Bond I Acc GBP
Initial charge1%
Annual charge0.4%
Min single investment£500,000
Min regular saving£10,000
Available in ISAYes
Ongoing charge (OCF)0.56%
Total expense ratio (TER)0.56%
Bid price-
Offer price-
Mid price1464.76
CurrencyGBX
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0ZEM
M&G Index-Linked Bond I Inc GBP
Initial charge1%
Annual charge0.4%
Min single investment£500,000
Min regular saving£10,000
Available in ISAYes
Ongoing charge (OCF)0.56%
Total expense ratio (TER)0.56%
Bid price-
Offer price-
Mid price1462.85
CurrencyGBX
Price updated07/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi code0ZEN
Data provided by

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