M&G Index-Linked Bond A

Focuses on index linked gilts with the aim of outperforming inflation

  • 159.09p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 182.77p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.50%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 0.66%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.00%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 23 November 2020

Fund summary

Sector UK Index Linked Gilts
Structure OEIC
Launched October, 1999
Size £207m
Yield 0.00%
Charging basis Income
Dividends paid 31 Jan, 31 Jul

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.50%
Ongoing charges figure 0.66%

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Investment process

The fund focuses on index linked gilts, with the aim of obtaining a long term total return in excess of the UK Retail Price Index.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.62%
  • 18/19 -0.05%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.17%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 94.40%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Ben Lord

Lord joined M&G in 2007 as a portfolio manager within the Retail Fixed Interest team. He previously worked as a credit analyst for a number of financial institutions and across a wide range of markets, including North America, Australia and Europe. He obtained an MA (Hons) from the University of Edinburgh and is a CFA charterholder.

Track record

Ben Lord has 2.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.17%. During the worst period of relative performance (from February 2009 - March 2009) there was a decline of 3% relative to the index. The worst absolute loss has been 3%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 94%.

Periods of worst performance

Absolute -3.00% (February 2009 - March 2009)
Relative -3.00% (February 2009 - March 2009)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Top 10 holdings

Data accurate as at 31 July 2020

28.5827% Hm Treasury United Kingdom Dmo 0.375% Idx-Lkd Gilt 22/03/62 Gbp
13.2054% Hm Treasury United Kingdom Dmo 0.125% Idx Gilt 22/03/24 Gbp0.01
13.0297% Hm Treasury United Kingdom Dmo 0.125% Idx Lkd Tsy Gilt 10/08/41 Gbp0.01
10.0971% Hm Treasury United Kingdom Dmo 0.125% Idx Lkd Tsy Gilt 10/08/28 Gbp0.01
9.9479% Hm Treasury United Kingdom Dmo 0.125% Idx Lkd Gilt 22/03/29 Gbp0.01
7.6625% Hm Treasury United Kingdom Dmo 0.75% Idx Lkd Gilt 22/11/47 Gbp
6.5139% Hm Treasury United Kingdom Dmo 0.125% Idx Lkd Tsy Gilt 22/11/36 Gbp0.01
4.2109% Hm Treasury United Kingdom Dmo 0.5% Idx Lkd Gilt 22/3/50 Gbp0.01
2.5681% Hm Treasury United Kingdom Dmo 4.5% Gilt 7/9/2034 Gbp0.01
1.8435% Hm Treasury United Kingdom Dmo 0.125% Idx Lkd Tsy Gilt 22/11/65 Gbp0.1
Source: Trustnet

Sector breakdown

Government Bonds 98.00%
Services 1.00%
Government Guaranteed 1.00%

Key Investor Information - Income

Download

Key Investor Information - Accumulation

Download