M&G Global Floating Rate High Yield

Quick Stats

Bid Price - Offer Price -
Mid Price SGD 10.24 Day Change SGD +0.02 (1.01%)
Price Date 7 Dec 2016 Crown Rating
Shares Class Inc. Yield 4.22 %
Total Expense Ratio 0.83 Fund Size 880,525,289.00
Launch Date 11/09/2014 Standard Initial Charge (%) 1.25
Currency SGD ISA Eligible No
Annual Management Charge (%) 0.65 Sector IMA UK Equity Income
Min Investment (£) 500,000.00 Total Expense Ratio (%) 0.83
ISIN GB00BZ56GP43 Min TopUp (£) 50,000.00

Fund Objective

The fund seeks to maximise total return (the combination of income and growth of capital), while generating a high level of income, which may vary over time. The fund invests mainly in floating rate notes (FRNs), which are bonds paying a variable coupon that is adjusted in line with changes in interest rates. The fund focuses on FRNs issued by companies with a low credit rating, which typically pay higher levels of interest to compensate investors for the greater risk of default. Part of the fund may be invested in other fixed income assets, such as government bonds. Asset exposure is gained through physical holdings and the use of derivatives.

Fund Managers

Stefan Isaacs
Stefan Isaacs is Deputy Head of Retail Fixed Interest for M&G's mutual fund range. He joined M&G as a graduate in 2001 and was subsequently promoted to corporate bond dealer specialising in high yield bonds and euro-denominated credit. Stefan joined the fund management team in 2006 and was appointed fund manager of the M&G European Corporate Bond Fund in April 2007 and the M&G Global High Yield Bond Fund in October 2010. Stefan is also deputy fund manager of the M&G Optimal Income Fund, the M&G European High Yield Fund and the M&G Global Floating Rate High Yield Fund.