M&G EUROPEAN HIGH YIELD BOND A - Fund overview
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Overview of
M&G EUROPEAN HIGH YIELD BOND A
This fund invests primarily in sub-investment grade euro denominated corporate bonds with the aim of maximising total returns, mainly through the provision of a high level of income. Most of the time the portfolio will not be hedged back into sterling. The manager, Stefan Isaacs, has traditionally avoided the poorest quality bonds, focusing instead on BB and B rated bonds where he believes the best risk-adjusted returns lie. The fund therefore tends to be positioned relatively cautiously versus its benchmark.
Fund summary
| Sector |
Global Bonds
|
| Product type |
OEIC
|
| Launched |
October, 2002
|
| Size |
£55m
|
| Yield |
6.7%
|
| Charging basis |
INCOME
|
| Dividends paid |
28/2, 30/5, 30/8, 30/11.
|
| Bid price(inc) |
39.19p |
| Bid price(acc) |
79.82p |
Fund Charges
|
Standard Initial charge
|
3.00%
|
|
Initial charge via Bestinvest
|
0.00%
|
|
Additional bid/offer spread
|
0.00%
|
|
Annual management charge
|
1.25%
|
|
Total expense ratio
|
1.44%
|
|
Reduction in yield (10yr)
|
1.44%
|