Fact sheet: M&G Optimal Income

Fund information
Fund name
M&G Optimal Income Inst Acc GBP
Fund manager company
M&G UK
Fund type
OEIC
Fund managers
  • Stefan Isaacssince 08/12/2006
  • Richard Woolnoughsince 08/12/2006
Fund objective
The fund aims to deliver income and capital growth by investing in a broad range of fixed income securities, wherever the manager sees the greatest opportunities. The manager may also hold up to 20% of the portfolio in company shares when he believes they offer better value than bonds. Exposure to these assets is gained through physical holdings and the use of derivatives. An in-house team of independent credit analysts assists the fund manager in the selection of individual bond issues.
Benchmark
  • No Specified Index
Investment style
Strategic Investment
Investment method
Fixed Interest
Quick stats
1 Year return
12.5%
1 Year rank in sector
10/79
Sector
UT Sterling Strategic Bond
Yield
2.9%
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.
0.91%
Fund size
£16,459m (£15,526m 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.
31
Mid price
211.02
Top in this sector
Fund name1 Year
Natixis LS Stgc Inc23.4%
Fidelity UK Inv Grd Lg Cr16.8%
AXA Framlington Mgd Inc16%
Insight Infln Link Corp Bd15.6%
Artemis High Income14.6%
...more in UT Sterling Strategic Bond

Performance snapshot

Holdings snapshot

  • USA32.2%
    UK23.6%
    Germany22.6%
    France6.3%
    Italy2.4%
  • BBB39%
    AAA21.4%
    BB14%
    A7.4%
    AA5.5%
  • US Fixed Interest32.2%
    UK Fixed Interest23.6%
    German Fixed Interest22.6%
    French Fixed Interest6.3%
    Italian Fixed Interest2.4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.6%3.7%2.7%12.5%12.7%32.9%
Sector1.1%2.4%-0.6%9.3%13.8%29.7%
Rank within sector71 / 858 / 859 / 8410 / 7946 / 7425 / 62
Quartile4th1st1st1st3rd2nd
Calendar performance
 YTD - 20172016201520142013
Fund1.1%8.1%-0.9%5.2%7.7%
Sector1%7.3%-0.3%6.8%2.6%
Rank within sector38 / 8533 / 7959 / 7545 / 7310 / 65
Quartile2nd2nd4th3rd1st
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.
0.75
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.
0.81
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.
0.15
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%.
3.75
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.
2.6
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.
-0.01
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.
0.54
Price movement
52 week high210.96
52 week low187.41
Current bid price-
Current offer price-
Current mid price211.02
Region
1USA32.2%
2UK23.55%
3Germany22.55%
4France6.3%
5Italy2.37%
6Money Market2.02%
7Netherlands1.86%
8Mexico1.51%
9Switzerland1.43%
Industry sector
1BBB39%
2AAA21.35%
3BB14.01%
4A7.35%
5AA5.55%
6Non-Rated5.13%
7B5.07%
8Money Market2.02%
9CCC0.52%
Asset type
1US Fixed Interest32.2%
2UK Fixed Interest23.55%
3German Fixed Interest22.55%
4French Fixed Interest6.3%
5Italian Fixed Interest2.37%
6Money Market2.02%
7Dutch Fixed Interest1.86%
8Mexican Fixed Interest1.51%
9Swiss Fixed Interest1.43%
Individual holdings
1GERMANY(FEDERAL REPUBLIC OF) 0.5% BDS 13/10/17 EUR10003.25%
2GERMANY(FEDERAL REPUBLIC OF) 0.25% BDS 13/04/18 EUR1002.45%
3GERMANY(FEDERAL REPUBLIC OF) 4.25% BDS 04/07/18 EUR0.012.35%
4GERMANY(FEDERAL REPUBLIC OF) 1% NTS 12/10/18 EUR0.012.21%
5GERMANY(FEDERAL REPUBLIC OF) 0.5% NTS 23/02/18 EUR0.01 1652.18%
6GERMANY(FEDERAL REPUBLIC OF) IDX/LKD 15/04/18 EUR10002.07%
7GERMANY(FEDERAL REPUBLIC) 1.75% ILN 15/04/20 EUR0.011.99%
8VERIZON COMMUNICATIONS INC 4.672% NTS 15/03/55 USD20001.29%
9VERIZON COMMUNICATIONS INC 5.012% BDS 21/08/54 USD20001.29%
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 by investing in a broad range of fixed income securities, wherever the manager sees the greatest opportunities. The manager may also hold up to 20% of the portfolio in company shares when he believes they offer better value than bonds. Exposure to these assets is gained through physical holdings and the use of derivatives. An in-house team of independent credit analysts assists the fund manager in the selection of individual bond issues.
Benchmark
  • No Specified Index
Investment style
Strategic Investment
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Stefan Isaacs08/12/2006Stefan 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.
Richard Woolnough08/12/2006Richard 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
Transparent for Austrian Tax, Transparent for Swiss Tax, IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Australia, Austria, Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, United Kingdom, Ireland, Italy, Luxembourg, Netherlands, Norway, Singapore, Sweden
M&G Optimal Income A Acc GBP
Initial charge3%
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.41%
Total expense ratio (TER)1.41%
Bid price-
Offer price-
Mid price202.96
CurrencyGBX
Price updated23/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJ674
M&G Optimal Income A Hedge Gr Acc USD
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 price14.6652
CurrencyUSD
Price updated23/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKYM4
M&G Optimal Income A Hedge GrAcc EUR
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISAYes
Ongoing charge (OCF)1.43%
Total expense ratio (TER)1.43%
Bid price-
Offer price-
Mid price19.633
CurrencyEUR
Price updated23/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeW773
M&G Optimal Income A Inc GBP
Initial charge3%
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.41%
Total expense ratio (TER)1.41%
Bid price-
Offer price-
Mid price150.31
CurrencyGBX
Price updated23/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJ673
M&G Optimal Income AH Acc 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 price10.8903
CurrencySGD
Price updated23/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKUVH
M&G Optimal Income AH Gr Acc CHF
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 price12.047
CurrencyCHF
Price updated23/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGLEL
M&G Optimal Income AH Gr 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 price18.0854
CurrencyEUR
Price updated23/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJD0D
M&G Optimal Income AH Inc CHF
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 price11.5051
CurrencyCHF
Price updated23/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKX1F
M&G Optimal Income AH Inc USD
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 price13.8979
CurrencyUSD
Price updated23/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKJ2K
M&G Optimal Income AH M 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 price10.3331
CurrencySGD
Price updated23/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKUVI
M&G Optimal Income AH M Inc USD
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 price10.2346
CurrencyUSD
Price updated23/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKX4W
M&G Optimal Income 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 price10.6555
CurrencyEUR
Price updated23/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPEN
M&G Optimal Income BH Inc
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 price10.338
CurrencyEUR
Price updated23/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPEO
M&G Optimal Income C Hedge Gr Acc USD
Initial charge1.25%
Annual charge0.75%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.92%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price15.1458
CurrencyUSD
Price updated23/02/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKYM5
M&G Optimal Income C Hedge GrAcc EUR
Initial charge1.25%
Annual charge0.75%
Min single investment£500,000
Min regular saving£50,000
Available in ISAYes
Ongoing charge (OCF)0.93%
Total expense ratio (TER)0.93%
Bid price-
Offer price-
Mid price20.6791
CurrencyEUR
Price updated23/02/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeW772
M&G Optimal Income CH Acc SGD
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 price11.0014
CurrencySGD
Price updated23/02/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKUVJ
M&G Optimal Income CH Gr 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 price12.306
CurrencyCHF
Price updated23/02/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeGLEM
M&G Optimal Income CH Inc 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 price11.6484
CurrencyCHF
Price updated23/02/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKX1G
M&G Optimal Income 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)0.92%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price19.2924
CurrencyEUR
Price updated23/02/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKJ2J
M&G Optimal Income 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)0.92%
Total expense ratio (TER)0.92%
Bid price-
Offer price-
Mid price14.1932
CurrencyUSD
Price updated23/02/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKJ2L
M&G Optimal Income 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 price211.02
CurrencyGBX
Price updated23/02/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJ670
M&G Optimal Income 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 price150.73
CurrencyGBX
Price updated23/02/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeJ669
M&G Optimal Income 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 price127.82
CurrencyGBX
Price updated23/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0ZFE
M&G Optimal Income R Inc GBP
Initial charge1%
Annual charge1%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.16%
Total expense ratio (TER)1.16%
Bid price-
Offer price-
Mid price116.98
CurrencyGBX
Price updated23/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0ZFF
M&G Optimal Income X Acc GBP
Initial charge-
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.41%
Total expense ratio (TER)1.41%
Bid price-
Offer price-
Mid price198.8
CurrencyGBX
Price updated23/02/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJ672
M&G Optimal Income X Inc GBP
Initial charge-
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.41%
Total expense ratio (TER)1.41%
Bid price-
Offer price-
Mid price150.07
CurrencyGBX
Price updated23/02/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJ671
Data provided by

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