Global Corporate Bond Fund


Price (27.03.2015):

% Price Change

Fund objective and approach

Fund objective

The Fund aims to maximise total return (the combination of income and growth of capital)

Investment approach

The M&G Global Corporate Bond Fund aims to maximise total returns through investing mainly in investment grade corporate bonds, denominated in any currency. Currency exposure is typically hedged back to the fund’s base currency. The fund also has the flexibility to invest in high yield or government bonds. Returns are driven by a combination of macroeconomic, asset class, sector, geographic and individual credit-level factors.

A dynamic investment approach combining top-down and bottom-up techniques is followed, allowing the fund manager to change the blend of duration and credit exposure based on his outlook for bond markets. An in-house team of independent credit analysts assists the fund manager in individual credit selection along with the monitoring of names held by the fund.The fund is not managed closely to a benchmark, which allows for a flexible and high-conviction investment approach.

The fund may invest more than 35% in securities issued by any one or more of the governments listed in the fund prospectus. Such exposure may be combined with the use of derivatives in pursuit of the fund objective. It is currently envisaged that the fund’s exposure to such securities may exceed 35% in the governments of Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Italy, Japan, Netherlands, Singapore, Sweden, Switzerland, UK, USA although these may vary subject only to those listed in the prospectus. This fund allows for the extensive use of derivatives.


The value of stockmarket investments will fluctuate, which will cause fund prices to fall as well as rise and you may not get back the original amount you invested. The level of any income earned by the fund will fluctuate. Past performance is not a guide to future performance.

Source: Price: State Street. Performance: Morningstar. Performance figures are on a price to price basis with net income reinvested. Performance figures may not reflect all relevant charges.

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Fund Team

Ben Lord - Fund manager

Ben Lord joined M&G in 2007 and was appointed fund manager of the M&G Global Corporate Bond Fund from launch in September 2013. He is also fund manager of the M&G UK Inflation Linked Corporate Bond Fund and deputy manager of the M&G European Inflation Linked Corporate Bond Fund, the M&G Strategic Corporate Bond Fund, the M&G Corporate Bond Fund and the M&G Short Dated Corporate Bond Fund. 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.

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Wolfgang Bauer - Deputy Manager

Wolfgang Bauer was appointed deputy fund manager of the M&G Global Corporate Bond Fund in October 2014. He has been part of the M&G Retail Fixed Interest team since the beginning of the year, focusing on US investment grade credit. Wolfgang initially joined M&G in 2012 as part of its Investment Graduate Programme, having gained a PhD in chemistry from the University of Cambridge. Following a series of rotations around the business, he joined the Real Estate Finance team in August 2013 as an analyst before taking up a junior fund manager role within the Retail Fixed Interest team in January 2014. Wolfgang has passed the CFA Level 2 exam.

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Gordon Harding - Investment specialist

Gordon Harding joined M&G in 2003 and is an investment specialist covering M&G's retail fixed interest fund range. He previously worked at Thomson Financial heading up a team of data analysts working on the Datastream product. Gordon graduated from Leeds Metropolitan University in 1999 with a BA (Hons) in economics and public policy and has passed CFA Level 1.

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