Global Corporate Bond Fund

ISIN
GB00BBCR3C81

Price (28.08.2015):
104.37

% Price Change
0.37

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.

Performance

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.

Please note that the Morningstar Category performance data in this tool where shown, is from the default Morningstar database, which contains all the share classes for each fund available across Europe, Asia and Africa. This can differ from the comparative sector data in M&G factsheets which is from the same database, but showing only the most appropriate share class to represent each fund, and for just those funds available in Europe. Neither Morningstar nor its Information Providers can guarantee the accuracy, completeness, timeliness, or correct sequencing of any of the Information on the Web site, including, but not limited to Information originated by Morningstar, licensed by Morningstar from Information Providers, or gathered by Morningstar from publicly available sources. There may be delays, omissions, or inaccuracies in the Information.

 

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 was appointed acting fund manager of the M&G Index Linked Bond Fund in July 2015. Ben is also 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 is the deputy fund manager of the M&G Global Corporate Bond Fund and European Corporate Bond Fund. 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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Mario Eisenegger - Investment specialist

Mario Eisenegger joined M&G in February 2015 as an associate investment specialist providing support for the retail fixed interest fund range. He was previously at UBS, where he was a senior client advisor to private clients and a deputy branch manager. Mario holds a bachelor of science from the University of Northwestern Switzerland. Mario speaks German and Swiss German.

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