Strategic 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 Strategic Corporate Bond Fund is invested primarily in investment grade debt. However, up to 20% of the portfolio may be invested in higher yielding corporate bonds, government debt, convertibles and preference stocks, as well as money market instruments. The fund's exposure to corporate debt may be gained through the use of derivatives.The investment approach is very much ‘top-down’, therefore, the fund manager’s economic outlook will determine the portfolio’s duration, and in which asset classes and sectors it is concentrated.The fund manager uses proprietary research, rather than external research. M&G’s in-house team of credit analysts provides bottom-up analysis of the corporate bond markets, which complements the fund manager’s top-down views.

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. The 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.

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

Richard Woolnough - Fund manager

Richard Woolnough joined M&G in January 2004 and is fund manager of the M&G Optimal Income Fund, the M&G Corporate Bond Fund and the M&G Strategic Bond Fund, three of the company's flagship fixed interest funds. Richard began his career at Lloyds Merchant Bank in 1985, moving to Italian insurer Assicurazioni Generali two years later, followed by SG Warburg. In 1995, he became a fund manager at Old Mutual. Richard graduated from the London School of Economics with a BSc in Economics.

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Ben Lord - Deputy 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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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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Rating is at a share class level


Rating is at a fund level


Morningstar OBSR Analyst Rating™ Copyright © Morningstar. All Rights Reserved. Ratings as at 28/02/2015 and should not be taken as a recommendation.

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