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Audience

The Company aims to generate a regular and attractive level of income with low asset value volatility by investing in a diversified portfolio of public and private debt and debt-like instruments (‘Debt Instruments’), of which at least 70% will be investment grade. Over the longer term, it is expected that the Company will be mainly invested in private Debt Instruments, which are those instruments not traded on a stock exchange. The Company is targeting an income return of Libor + 2.5% to December 2019 and Libor + 4% thereafter.

The Company has the ability to borrow up to 30% of net asset value although it is expected that it will primarily be managed without borrowing and typically any borrowings will not exceed 20% of net asset value. Any borrowings may magnify any gains or losses made by the Company.

The value of investments will fluctuate, which will cause share prices to fall as well as rise and you may not get back the original amount you invested. There is no guarantee that the Company’s Investment Objective will be achieved.

How to invest
If you would like to subscribe for shares in M&G Credit Income Investment Trust plc, please contact one of the online fund platforms.

Please be advised that the share price quoted is not a live feed and therefore may not reflect the most recent share price, for live share price information please visit the London Stock Exchange website, fund code is MGCI.

Fund updates

24/09/2018

Online Fund Platforms

We have partnered with the below fund platforms to give you access to the M&G Credit Income Investment Trust. Just click on the link below to view the fund platforms.

 

Literature

  • Company Document - Terms of Reference - Management Engagement Committee PDF
  • Company Document - Terms of Reference - Audit Committee PDF
  • Company Document - Terms of Reference - Remuneration Committee PDF
  • Company Document - Terms of Reference - Nomination Committee PDF
  • Literature - M&G Credit Income Investment Trust - Quarterly review PDF
  • Literature - M&G Credit Income Investment Trust - Factsheet PDF
  • Company Document - Prospectus PDF
  • Literature - M&G Credit Income Investment Trust plc - GBP Inc - Key Information Document (UK) PDF

Fund team

Fund manager tenure from 14/11/2018
Jeremy Richards joined Prudential Portfolio Managers in 1983 as a member of the actuarial department. He joined the fixed income team in 1985, and has been responsible since 1993 for managing the fixed income team in respect of Prudential’s Life and Annuity funds.Prior to this, Jeremy worked on bond research, going on to manage the UK and European fixed income portfolios for insurance and pensions clients. He was also a specialist in index-linked gilts and fixed income derivatives.Jeremy graduated from the University of Manchester with a degree in Economics and is a Fellow of the Institute of Actuaries.
Adam English joined M&G in 1999 and is a fixed income fund manager. His focus is on the analysis and investment of high yield debt and he manages public high yield debt for the Prudential Life Fund.Before joining M&G, Adam worked for the United Bank of Kuwait where he worked within the credit and high yield departments, with representation on the bank’s credit committee.Prior to this, he worked for Price Waterhouse, gaining membership of the Associate of Chartered Accountants.Adam graduated from Christ Church College, Oxford University with a degree in Physics and is a CFA charterholder.
William Nicoll joined M&G in 2004 and is Co-head of Alternative Credit. He is responsible for the development of various products, including credit solutions for institutional investors, social housing and other aspects of non-bank lending.Prior to joining M&G, William was Head of European Credit at Henderson Global Investors and before this had worked at Cazenove & Co in corporate bond research and fund management.William graduated from Trinity College, Cambridge University with a degree in Natural Sciences. He is a CFA charterholder and a Chartered Fellow of the Chartered Institute for Securities and Investment

Non-executive directors

David Simpson is a qualified solicitor and was a partner at KPMG for 15 years until 2013, culminating as global head of M&A. Before that he spent 15 years in investment banking, latterly at Barclays de Zoete Wedd Ltd. He is chairman of Ecofin Global Utilities and Infrastructure Trust plc; a non-executive director of the British Geological Survey; a trustee of Cardiff University; and a non-executive director of ITC Limited, a major listed Indian company. David graduated from Cambridge University with a degree in Economics and Law.
Richard Boléat is a Fellow of the Institute of Chartered Accountants in England & Wales, having trained with Coopers & Lybrand in Jersey and the United Kingdom. After qualifying in 1986, he subsequently worked in the Middle East, Africa and the UK for a number of commercial and financial services groups before returning to Jersey in 1991. He was formerly a Principal of Channel House Financial Services Group from 1996 until its acquisition by Capita Group plc (“Capita”) in September 2005. Richard led Capita's financial services client practice in Jersey until September 2007, when he left to establish Governance Partners, L.P., an independent corporate governance practice. He currently acts as Chairman of CVC Credit Partners European Opportunities Limited, Phaunos Timber Fund Limited and Funding Circle SME Income Fund Limited, all of which are listed on the London Stock Exchange. He is regulated in his personal capacity by the Jersey Financial Services Commission and is a member of AIMA.
Mark Hutchinson joined M&G in 1997 as Head of the Private Finance Group and has overseen the start of a number of activities including Private Placements, Leveraged Finance, Project & Infrastructure Finance and Structured Credit. In addition, he started the initiative for purchasing properties with long leases for Prudential’s annuity funds in 2000. He continues to be involved in the development and growth of private assets within M&G.
Barbara Powley is a chartered accountant with over 30 years’ experience in the investment trust industry. Prior to her retirement in March 2018 she was a director in BlackRock’s closed end funds team from 2005 with responsibility for the oversight and administration of BlackRock’s stable of investment trusts. From 1996 to 2005 she had a similar role at Fidelity. Barbara graduated from the University of York with a degree in Mathematics and Economics. She brings to the board her extensive knowledge of the investment trust sector and its regulatory requirements.

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