M&G Strategic Corporate Bond Class X Accumulation 
Also available as income units
Overview
| Initial charge | 0.00% |
|---|---|
| Initial saving | 0.00% |
| Annual charge | 1.25% |
| Annual saving | 0.125% ² |
| Performance charges | No |
| Total Expense Ratio | 1.41% |
| Launch date | 20-02-2004 |
| Launch price | £0.50 |
| Sector | GBP Corporate Bond |
| Fund size | £2,580 million |
| Number of holdings | 568 |
| Fund type | OEIC |
| Type of units | Accumulation |
Please read the Simplified Prospectus in addition to the information above.
Ways to Invest
Find out how to invest in this fundHL Research - Our view on this Fund
Richard Woolnough has become more positive on the prospects for gilts, though they still form a relatively small portion of the portfolio. He believes corporate bonds are attractive despite their strength over the last year, and particularly favours the industrial sector, which offers attractive yields at present. In the banking sector he has a preference for those that have not needed government assistance during the financial crisis.
Full research
About the Fund Manager
Richard Woolnough
Located in: London
Richard Woolnough joined M&G in January 2004. He is a fund manager on the M&G retail fixed interest team. Richard began his career at Lloyds Merchant Bank in 1985, moving to Italian Bank Assicurazioni Generali two years later, followed by SG Warburg. In 1995, he was recruited by Old Mutual to manage a £550 million investment grade corporate bond portfolio. In 2000, he assumed responsibility for a new fund - the Old Mutual Corporate Bond Fund. Richard graduated from the London School of Economics with a BSc in economics.
Income details
| Distribution yield | 3.77% |
|---|---|
| Underlying yield | 3.77% |
| Income paid | Quarterly |
| Type of payment | Interest |
| Yield calculation basis | Effective |
| Charges deducted from | Income |
All yields are variable and not guaranteed. Information as at 31-08-2010.
Distribution dates
| Ex-dividend date | 01 March 2010 |
|---|---|
| Payment date ³ | 30 April 2010 |
1 of 4 
Top 10 holdings
| 4¼% Treasury Gilt 2027 | 3.58% |
|---|---|
| US TREASURY N/B | 2.72% |
| DEUTSCHE TELEKOM INT FIN | 1.28% |
| VODAFONE GROUP | 1.19% |
| WAL MART STORES INC | 1.14% |
| IMPERIAL TOBACCO F | 1.10% |
| BANK OF AMERICAN CORP | 0.94% |
| WAL MART STORES INC | 0.88% |
| TNT POST GROUP | 0.83% |
| INBEV | 0.80% |
Top 10 sectors
| Bonds | 95.45% |
|---|---|
| Cash and Equiv. | 2.61% |
| Non-Classified | 1.94% |
Top 10 countries
| United Kingdom | 50.25% |
|---|---|
| United States | 15.47% |
| Netherlands | 7.95% |
| France | 5.99% |
| Non-Classified | 5.11% |
| Cash and Equiv. | 2.61% |
| Germany | 2.16% |
| Spain | 1.63% |
| Belgium | 1.29% |
| Australia | 1.25% |
Some of the data on this page and other related pages is provided to you for your information and is received from the Fund Management Company administering this fund. Hargreaves Lansdown accepts no liability for the reliability or accuracy of the data provided by third parties.
² Annual saving is not available in the SIPP.
³ If you elect to receive the income from a Vantage ISA, Fund or 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 02-09-2010. Data as at 30/06/2010.
