Global Corporate Bond Fund


Price (28.04.2017)

% Price Change

Fund objective and approach

Fund objective

To provide income and capital growth.

Investment policy

At least 70% of the fund is invested in investment grade (high-quality) bonds issued by companies from anywhere in the world. (Bonds are loans to governments or companies that pay interest.) The fund holds these assets directly and through derivatives. We may also use derivatives to meet the fund’s investment objective and to reduce risk and costs, as well as to manage the impact of changes in currency exchange rates on the fund’s investments. Derivatives are financial contracts whose value is derived from other assets. The fund also invests in high yield bonds (issued by companies which are considered to be more risky and therefore generally pay a higher level of income) and bonds issued by governments or by an entity connected to those governments. The fund may also invest in other funds, other financial assets that can be traded (for example, investments similar to shares and bonds), cash, warrants (financial contracts which allow the fund manager to buy stocks for a fixed price until a certain date) and money market instruments (for example, debt due to be repaid within a year) which may be denominated in any currency.

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 allows for the extensive use of derivatives


The value of 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 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

Ben Lord - Fund manager

Ben Lord joined M&G in 2007 and is the fund manager of the M&G UK Inflation Linked Corporate Bond Fund. Ben has also managed the M&G Global Corporate Bond Fund from launch in September 2013 and was appointed fund manager of the M&G Index Linked Bond Fund in July 2015. 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.

 View profile
Wolfgang Bauer

Wolfgang Bauer - Deputy Manager

Wolfgang Bauer is deputy fund manager of the M&G Global Corporate Bond Fund and the M&G European Corporate Bond Fund. He has been part of the M&G Retail Fixed Interest team since the beginning of 2014, 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 3 exam.

 View profile
Mario Eisenegger

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.

 View profile


Rating is at a share class level

3 Star Rating

Ratings as at 31/03/2017. The Morningstar Overall Rating. Copyright © 2017 Morningstar UK Limited. All Rights Reserved. The Morningstar Analyst Rating™. © 2017 Morningstar. All Rights Reserved. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Ratings should not be taken as recommendation.

Need further information?