Fund manager: Jim Leaviss
Products available: ISA & OEIC
The Fund is designed to provide a high and secure income, with stability of capital. The Fund invests in short, medium or long-dated government stocks according to M&G's view at any given moment of the likely course of interest rates and trend of the gilt-edged market. The Fund is able to invest a proportion of the assets in dated debenture or loan stocks, if these provide good relative value. More than 35% in value of the property of the Fund consists of government and other public securities issued or guaranteed by the Government of the United Kingdom of Great Britain and Northern Ireland and it is intended that this should continue to be the case.
The Fund’s duration (the relationship between the Fund’s yield and capital value) is managed to remain close to that of its peer group and the FTSE 5-15 year Gilt Index. Up to 10% of the portfolio may be invested in corporate bonds, to enhance yield or boost the capital performance by a credit upgrade. These purchases may be from across the credit spectrum, from ‘A’ grade to ‘NR’ (not rated).
Jim is Head of M&G Retail Fixed Income and a fund manager on the global fixed interest desk.
After graduating in 1992, Jim joined the Bank of England as an analyst of monetary statistics and PSBR. He later moved within the Bank to become a gilt and money market trader, a position he occupied for three years.
Jim graduated from Manchester University with a BA in Economics and is an Associate of the Institute of Investment Management & Research.
In addition to the fund data that can be found by accessing the menu to the left of this page you may also wish to read the fund key features document which contains further fund information.