Fact sheet: Pru FRIA M&G Gbl Hi Yd Bd Pn

Fund information
Fund name
Pru FRIA M&G Global High Yield Bond Pn
Fund manager company
Prudential Assurance Company
Fund type
Pension Fund
Fund manager
  • Stefan Isaacssince 30/09/2010
Underlying fund
M&G Gbl Hi Yield Bd
Fund objective
The investment strategy of the fund is to purchase units in the M&G Global High Yield Bond Fund. That fund aims to maximize total return (the combination of income and growth of capital) while generating a high level of income. The fund invests predominantly in higher yielding corporate debt instruments which may be denominated in Sterling, European currencies and other major global currencies, should the managers deem them to be appropriate investments.
Benchmark
  • IA Sterling High Yield Sector Average
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
8.1%
1 Year rank in sector
17/56
Sector
PN Sterling High Yield
Yield
-
Fund size
£7m (£7m 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.
43
Bid price
261.3
Offer price
261.3
Top in this sector
Fund name1 Year
Aviva Invtec M High Inc Pn12%
Aviva JPM Gbl HighYldBd Pn11%
L&G High Income Pn10.6%
LV= Investec Monthly Hi Inc Pn10.3%
OMW IPLPimUsHiYiBdPn10%
...more in PN Sterling High Yield

Performance snapshot

Holdings snapshot

  • USA41.9%
    UK20.2%
    Money Market5.1%
    Germany4%
    Luxembourg3.9%
  • Banks13.9%
    Media11.7%
    Government Bonds9.7%
    Health Care8.6%
    Energy8.3%
  • US Corporate Fixed Interest41.3%
    UK Corporate Fixed Interest10.8%
    UK Gilts9.7%
    Money Market5.1%
    German Corporate Fixed Interest4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.4%0.1%3.9%8.1%12.2%44.8%
Sector-0.1%-0.6%4.4%7.7%14.7%46.9%
Rank within sector48 / 5715 / 5731 / 5717 / 5628 / 4923 / 46
Quartile4th2nd3rd2nd3rd2nd
Calendar performance
 YTD - 20162015201420132012
Fund10.1%-1.5%2%8.7%19.9%
Sector9.4%-0.1%4.4%6.8%19.3%
Rank within sector19 / 5638 / 5439 / 4916 / 4920 / 46
Quartile2nd3rd4th2nd2nd
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.
-1.69
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.
1.21
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.
0.06
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%.
5.61
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.
2.29
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.
-0.35
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.
0.86
Price movement
52 week high264.2
52 week low226.1
Current bid price261.3
Current offer price261.3
Current mid price-
Region
1USA41.93%
2UK20.21%
3Money Market5.07%
4Germany4.05%
5Luxembourg3.92%
6Spain3.78%
7France3.15%
8Italy2.87%
9Canada2.44%
Industry sector
1Banks13.9%
2Media11.73%
3Government Bonds9.65%
4Health Care8.57%
5Energy8.3%
6Telecommunications8.03%
7Capital Goods6.63%
8Basic Industries6.27%
9Services5.67%
Asset type
1US Corporate Fixed Interest41.31%
2UK Corporate Fixed Interest10.84%
3UK Gilts9.65%
4Money Market5.07%
5German Corporate Fixed Interest4.05%
6Luxembourg Corporate Fixed Interest3.92%
7Spanish Corporate Fixed Interest3.32%
8French Corporate Fixed Interest3.15%
9Italian Corporate Fixed Interest2.87%
Individual holdings
1TREASURY 1.25% GILT 22/7/18 GBP0.014.45%
2TREASURY 0% TSY BILL 05/12/16 GBP13.42%
3TREASURY 1.75% GILT 22/07/19 GBP0.011.78%
4WILLIAM HILL PLC 4.875% BDS 07/09/23 GBP1000001.18%
5MATTERHORN TELECOM SA 3.875% BDS 01/05/22 EUR1000001.1%
6NUMERICABLE SFR 5.625% BDS 15/05/24 EUR100000 REG S0.98%
7VTR FINANCE BV 6.875% BDS 15/01/24 USD2000000.97%
8BELDEN INC. 5.5% MTN 15/04/23 EUR100000 REG S0.94%
9JPMORGAN CHASE & CO DEP SHS REPR 1/10 7.9%NON CUM PFD I0.94%
Management
Fund manager group
Prudential
Fund manager company
Prudential Assurance Company
Fund type
Pension Fund
Fund objective
The investment strategy of the fund is to purchase units in the M&G Global High Yield Bond Fund. That fund aims to maximize total return (the combination of income and growth of capital) while generating a high level of income. The fund invests predominantly in higher yielding corporate debt instruments which may be denominated in Sterling, European currencies and other major global currencies, should the managers deem them to be appropriate investments.
Benchmark
  • IA Sterling High Yield Sector Average
Investment style
High Yield
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Stefan Isaacs30/09/2010Stefan 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
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
Pru FRIA M&G Global High Yield Bond Pn
Initial charge-
Annual charge1.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.26%
Bid price261.3
Offer price261.3
Mid price-
CurrencyGBX
Price updated06/12/2016
Type-
Institutional or retail classRetail
Domicile-
Citi codeMW29
Data provided by

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