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M&G Corporate Bond Class I - Income (GBP)

Sell: 38.65pBuy: 38.65p0.08p (0.20%)

Prices as at 23 July 2014

* Please note that there can be occasions when the Selling price shown may be temporarily higher than the Buying price. This can sometimes happen when the stock market is closed but it can also happen at other times for a variety of reasons. However, when the stock market is open and you place a trade, the selling price available to you will never be higher than the buying price. Live prices will be available when you place a deal with us during market hours. Please check these and contact us if you are unable to deal online.
Also available as accumulation units Help

Charges and Savings

Fund manager's initial charge: 0.00%
HL saving on initial charge: 0.00%
HL dealing charge: Free
Net initial charge: 0.00%
Fund manager's annual charge: 0.50%
HL saving on annual charge (loyalty bonus): 0.00%
Net annual charge: 0.50%
 
Fund manager's other expenses: 0.16%
Performance fee: No  

Please read the Simplified Prospectus/Key Investor Information Document (KIID) in addition to the information above. Further details available in the HL guide to fund prices, savings and yields. Loyalty bonus is paid tax-free in an ISA or SIPP but may be subject to tax in a Fund & Share Account.

HRMC believes that from April 2013 rebates of annual charges (such as loyalty bonuses) paid on funds held outside ISAs or SIPPs should be paid net of basic rate tax. We believe this is incorrect and are challenging HMRC's interpretation. However, in line with best client accounting practice and to save clients facing an unexpected bill in the future, we are currently paying loyalty bonuses within the Vantage Fund & Share Account net of an amount equivalent to the basic rate tax. If we are successful in our challenge we will return this money to clients. If we are unsuccessful we will use the money to pay over any amounts due to HMRC. Loyalty bonuses in the Vantage Fund & Share Accounts held by overseas investors, companies and charities will be paid without any deductions, as will loyalty bonuses in the Vantage ISA and Vantage SIPP which are exempt from tax.

Other Information

Unit type: Unbundled
Manager: Richard Woolnough
Fund launch date: 15 April 1994
Sector: GBP Corporate Bond
Fund size: £5,216 million
Number of holdings: 770
Fund type: OEIC
Accumulation/income: Income
Dealing frequency: Daily
Valuation point: 12:00
Trustee: The National Westminster Bank plc
Minimum investment: £500.00
Charges deducted from: Income
Available in a regular savings plan: Yes
Minimum regular savings value: £50.00

Performance

23/07/09 to 23/07/10 23/07/10 to 23/07/11 23/07/11 to 23/07/12 23/07/12 to 23/07/13 23/07/13 to 23/07/14
Annual return 15.86% 5.45% 14.56% 2.81% 5.74%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

View fund chart

Our view on this fund

The Wealth 150 is the list of what we believe are the best funds in each sector. If a fund is not within our Wealth 150 this is not necessarily a recommendation to sell. However, if you are thinking of adding to your investments we believe Wealth 150 funds are superior alternatives. View funds on the Wealth 150 »

Fund Objective

The Fund aims to achieve a higher total return (the combination of income and growth of capital) from investment than would be obtainable in UK government fixed interest securities (ie gilts) of similar maturities.

Income Details

Distribution yield : 3.75%
Underlying yield : 3.75%
Income paid: Quarterly
Type of payment: Interest
Ex-dividend date: 2 July 2014 1 October 2014 3 January 2015 2 April 2015
Payment date: 31 August 20144 30 November 20144 28 February 20154 31 May 20154

All yields are variable and not guaranteed. Information correct as at 30 June 2014.

Security Weight
4¼% Treasury Gilt 2027 1.59%
5% Treasury Stock 2025 1.40%
Northern Trust The Sterling Fund Class E 1.00%
IMPERIAL TOBACCO FINANCE 0.96%
AT+T INC 0.96%
WELLS FARGO BANK NA 0.88%
ELECTRICITE DE FRANCE SA 0.82%
AMGEN INC 0.75%
LLOYDS BANK PLC 0.75%
TESCO PROPERTY FIN 3 PLC 0.71%
Sector Weight
Bonds 98.77%
Non-Classified 1.27%
Cash and Equiv. -0.04%
Country Weight
United Kingdom 61.22%
United States 14.37%
France 7.62%
Netherlands 3.98%
Non-Classified 2.34%
Luxembourg 2.12%
Germany 1.71%
Spain 1.66%
Ireland 1.15%
Italy 1.07%

Fund Manager

Photo of Richard Woolnough

Key facts

Richard Woolnough
Manager start date 27/02/2004
Manager located in london

Biography

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 Corporate 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.

You can buy or sell holdings in this fund through a NISA, SIPP or Fund & Share Account

Data received from the Fund Management Company administering this fund and provided to you for your information. Hargreaves Lansdown accepts no liability for the reliability or accuracy of the data provided by third parties.

4 If you elect to receive the income from a Vantage ISA or Vantage Fund & Share Account, we will collect any dividends for you and then pay them directly into your bank account within the first 10 working days of the following month.

Prices as at 23 July 2014. Data as at 30 June 2014.

Wealth 150 fund

The Wealth 150 is a list of what we believe are the best funds in all the main sectors. For a fund to be selected for the Wealth 150 it must pass a rigorous selection process, and we continually monitor the list to ensure it only contains the best funds.

Wealth 150+ fund

The Wealth 150 is a list of what we believe are the best funds in all the main sectors. For a fund to be selected for the Wealth 150 it must pass a rigorous selection process, and we continually monitor the list to ensure it only contains the best funds.

As investment returns depend on two factors - performance and charges - we have identified from the Wealth 150, the funds we believe offer the very best combination of outstanding performance potential and the best prices. These are the Wealth150+ funds. In many cases these super-low charges are only available through the Vantage Service - a unique benefit to Hargreaves Lansdown clients.

Core Tracker fund

The Core Trackers list represents what we believe are the very best trackers in each of the main sectors. We analysed each fund's management, process and performance to find the best combination of quality and cost. We want to ensure that the fund has not only tracked its index closely in the past, but that it has the best potential to track well in the future. In many cases these super-low charges are only available through the Vantage Service - a unique benefit to Hargreaves Lansdown clients.



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