M&G Global Convertibles BH Inc
|Bid Price||-||Offer Price||-|
|Mid Price||EUR 10.24||Day Change||EUR +0.03 (0.49%)|
|Price Date||5 Dec 2016||Crown Rating|
|Shares Class||Inc.||Yield||2.81 %|
|Total Expense Ratio||2.17||Fund Size||1,809,680,000.00|
|Launch Date||13/07/2007||Standard Initial Charge (%)||1.25|
|Annual Management Charge (%)||2.00||Sector||IMA UK Equity Income|
|Min Investment (£)||1,000.00||Total Expense Ratio (%)||2.17|
|ISIN||GB00BYQRBS75||Min TopUp (£)||75.00|
The fund seeks to maximise long-term total return (the combination of income and growth of capital) by investing in a diversified portfolio of convertible bonds. These are a form of debt issued by companies that can be converted into shares, either of the issuer or another company. When selecting convertible bonds, the fund manager looks to participate in the rise of share prices whilst also benefiting from the unique ability of convertibles to provide a degree of protection against share price falls. The fund manager may use derivatives for investment purposes.
Léonard Vinville joined M&G in 2002, and since then has been managing the convertibles allocation of the Prudential With Profit Life Fund. He has also been responsible for managing the M&G Global Convertibles Fund since its launch in July 2007. Both funds are run with the same investment approach and with an emphasis on generating strong risk-adjusted returns. Prior to joining M&G, Léonard was head of European convertibles at AGF Asset Management in Paris, where he managed convertibles and French equity mandates. He has an MBA and is qualified as a chartered accountant.