Fact sheet: M&G Off Strt Corp Bd

Fund information
Fund name
M&G Offshore Strategic Corporate Bond I
Fund manager company
M&G Guernsey
Fund type
OEIC
Fund manager
  • Richard Woolnoughsince 10/07/2009
Fund objective
The fund aims to deliver income and capital growth by investing mainly in investment grade, or high quality, corporate bonds. The fund manager may also hold up to 20% of the portfolio in other fixed income investments. Exposure to these assets is gained through physical holdings and the use of derivatives. The fund manager’s economic outlook will determine the portfolio’s overall positioning, while an in-house team of independent credit analysts assists in the selection of individual bond issues.
Benchmark
  • No Specified Index
Investment style
No data available.
Investment method
Feeder fund
Quick stats
1 Year return
9.4%
1 Year rank in sector
17/23
Sector
FO Fixed Int - GBP Investment Grade
Yield
3.9%
Fund size
£50m
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
Top in this sector
Fund name1 Year
MGI UK Inflation Lkd Bd28.8%
JPM Sterling Bond22%
MGI UK Bond15.9%
Blackrock UK Cr Bd Idx15%
Vanguard UK Govt Bond Idx15%
...more in FO Fixed Int - GBP Investment Grade

Performance snapshot

Holdings snapshot

  • UK49%
    USA27.2%
    France7.3%
    Germany3%
    International2.9%
  • Mortgage & Secured Bonds17.5%
    Banks14.9%
    Telecommunications12.3%
    Consumer Goods10.4%
    Utilities7.9%
  • UK Corporate Fixed Interest47.5%
    US Corporate Fixed Interest26.3%
    French Corporate Fixed Interest6.3%
    German Corporate Fixed Interest3%
    Global Corporate Fixed Interest2.9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1%4.5%6.6%9.4%--
Sector-0.2%5.3%9.4%12%22.9%43.7%
Rank within sector16 / 2316 / 2319 / 2317 / 23--
Quartile3rd3rd4th3rd
Calendar performance
 YTD - 20162015201420132012
Fund8.7%----
Sector12.2%0.7%7.9%1.3%11.8%
Rank within sector18 / 23----
Quartile4th
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 high110.82
52 week low99.13
Current bid price109.44
Current offer price110.55
Current mid price-
Region
1UK48.96%
2USA27.24%
3France7.35%
4Germany2.97%
5International2.92%
6Spain2.07%
7Italy2%
8Netherlands1.63%
9Money Market1.31%
Industry sector
1Mortgage & Secured Bonds17.51%
2Banks14.89%
3Telecommunications12.34%
4Consumer Goods10.41%
5Utilities7.91%
6Insurance6.63%
7Technology4.84%
8Media4.13%
9Government Bonds4.12%
Asset type
1UK Corporate Fixed Interest47.49%
2US Corporate Fixed Interest26.33%
3French Corporate Fixed Interest6.3%
4German Corporate Fixed Interest2.97%
5Global Corporate Fixed Interest2.92%
6Dutch Corporate Fixed Interest1.63%
7Spanish Corporate Fixed Interest1.52%
8Money Market1.31%
9UK Gilts1.25%
Individual holdings
1WELLS FARGO BANK NA 5.25% SUBORD NTS 01/08/23 GBP500001.43%
2LLOYDS BANK PLC 5.125% NTS 07/03/25 GBP1000001.25%
3EUROPEAN INVESTMENT BANK FRN 21/05/21 GBP10001.16%
4IMPERIAL BRANDS FINANCE PLC 9% GTD NTS 17/02/22 GBP500001.01%
5EUROPEAN INVESTMENT BANK FRN 17/02/20 GBP10000.93%
6HEATHROW FUNDING LTD 6.75% BDS 03/12/28 GBP500000.91%
7MICROSOFT CORP 4% BDS 12/02/55 USD20000.84%
8JPMORGAN CHASE BANK NA 3.5% NTS 18/12/26 GBP10000.81%
9ORANGE SA 8.5% BDS 1/3/31 USD10000.78%
Management
Fund manager group
M&G
Fund manager company
M&G Guernsey
Fund type
OEIC
Fund objective
The fund aims to deliver income and capital growth by investing mainly in investment grade, or high quality, corporate bonds. The fund manager may also hold up to 20% of the portfolio in other fixed income investments. Exposure to these assets is gained through physical holdings and the use of derivatives. The fund manager’s economic outlook will determine the portfolio’s overall positioning, while an in-house team of independent credit analysts assists in the selection of individual bond issues.
Benchmark
  • No Specified Index
Investment style
No data available.
Investment method
Feeder fund
Fund manager
NameSinceBiography
Richard Woolnough10/07/2009Richard Woolnough joined M&G in January 2004 and is fund manager of the M&G Optimal Income Fund, the M&G Corporate Bond Fund and the M&G Strategic Corporate Bond Fund, three of the company's flagship fixed interest funds. Richard began his career at Lloyds Merchant Bank in 1985, moving to Italian insurer Assicurazioni Generali two years later, followed by SG Warburg. In 1995, he became a fund manager at Old Mutual. Richard graduated from the London School of Economics with a BSc in Economics.
Compliance
Reporting Fund Status
Domicile
No data available.
Fund for sale in
United Kingdom, Guernsey, Offshore
M&G Offshore Strategic Corporate Bond A
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price140.9737
Offer price146.8476
Mid price-
CurrencyGBX
Price updated29/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFSY3
M&G Offshore Strategic Corporate Bond I
Initial charge-
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.16%
Bid price109.4421
Offer price110.5476
Mid price-
CurrencyGBX
Price updated29/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMRWI
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