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 | 1.40% |
| Launch date | 20-02-2004 |
| Launch price | £0.50 |
| Sector | GBP Corporate Bond |
| Fund size | £2,233 million |
| Number of holdings | 583 |
| 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
In 2009, corporate bonds saw one of their best years in decades - capital values have increased and yields have fallen from their highs. Despite this, Richard Woolnough is optimistic about further growth. He believes inflationary pressure is relatively muted, which should prove supportive of bond valuations. One area where he is cautious is government bonds which could underperform given the large amount of issuance expected
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 | 3.96% |
|---|---|
| Underlying yield | 3.96% |
| Income paid | Quarterly |
| Type of payment | Interest |
| Yield calculation basis | Effective |
| Charges deducted from | Income |
All yields are variable and not guaranteed. The information is correct as at 28-02-2010.
Distribution dates
| Ex-dividend date | 01 March 2010 |
|---|---|
| Payment date ³ | 30 April 2010 |
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Top 10 holdings
| 5% Treasury Stock 2025 | 4.44% |
|---|---|
| NETWORK RAIL | 1.14% |
| INBEV | 0.99% |
| VODAFONE GROUP PLC | 0.91% |
| WAL MART STORES INC | 0.88% |
| TNT POST GROUP | 0.87% |
| EDF ENERGY NETWORKS SPN | 0.84% |
| BANK OF AMERICAN CORP | 0.82% |
| TESCO | 0.76% |
| BG ENERGY CAPITAL | 0.75% |
Top 10 sectors
| Bonds | 95.92% |
|---|---|
| Cash and Equiv. | 3.58% |
| Non-Classified | 0.50% |
Top 10 countries
| United Kingdom | 48.89% |
|---|---|
| United States | 11.74% |
| Netherlands | 8.40% |
| France | 6.45% |
| Cash and Equiv. | 3.58% |
| Non-Classified | 3.26% |
| Germany | 2.51% |
| Australia | 2.41% |
| Luxembourg | 2.02% |
| Belgium | 1.95% |
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.
Last valuation as at 18-03-2010. Data accurate as at 28/02/2010.
