Fact sheet: M&G Emerging Markets Bond

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
EMERGING MARKETS
Sector
UT Global Emerging Markets Bond
Fund type
OEIC
Primary aim
INCOME
Why Money Observer Rates M&G Emerging Markets Bond

Rated Fund 2016-2017. Offers the right mix of government and corporate bonds

Claudia Calich, manager of the M&G Emerging Markets Bond fund since 2013, believes choosing the right mix between government and corporate issues in local and 'hard' currency (a foreign currency such as the dollar), together with careful country and security selection, are key factors in maximising returns.

With this fund, she can take a flexible approach and allocate the portfolio in an unrestricted way between the three main emerging market bond sub-asset classes: local currency-denominated government debt, hard currency-denominated government debt and hard currency corporate debt.

The fund's investment process blends high-conviction views on macroeconomic factors with in-depth analysis of bond issuer creditworthiness. Calich's macroeconomic assessment begins with the global economic and market outlook, as well as the overall risk profile of different economies.

She and her team then evaluate emerging market government and corporate bond issues to find the most attractive investment opportunities. Liquidity, solvency, balance of payments and political factors are key considerations. Company analysis examines ownership structure, business risk and financial risk.

Calich says the freedom to invest in emerging market corporate and government bonds provides far more opportunities for the fund than are available to funds restricted to the much smaller number of emerging market government issuers.

She points out that there has been rapid growth in emerging market corporate bond issues over the past decade, and that these now offer widely diversified investment choices across countries and industry sectors.

3 Year Performance
Fund Performance33.3%
Average of Rated Funds Group45.4%
Sector Performance19.5%
Fund information
Fund name
M&G Emerging Markets Bond I Acc GBP
Fund manager company
M&G UK
Fund type
OEIC
Fund managers
  • Charles De Quinsonassince 31/08/2015
  • Claudia Calichsince 02/12/2013
Accolades
Fund objective
The Fund aims to maximise total return (the combination of income and growth of capital).
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
-3.3%
1 Year rank in sector
8/11
Sector
UT Global Emerging Markets Bond
Yield
5.5%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.79%
Fund size
£792m (£340m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
40
Mid price
157.85
Top in this sector
Fund name1 Year
Aberdeen Emerging Markets Bd4%
Investec EmgMkLcCurDt3.5%
Threadneedle EmgMktLcl2.7%
First State Emrg Mks Bd2.3%
L&G EM Gov Bd Loc Cur Id1.5%
...more in UT Global Emerging Markets Bond

Performance snapshot

Holdings snapshot

  • Brazil5.7%
    Argentina4.7%
    Mexico4.1%
    Singapore3.8%
    Russia3.4%
  • B31.8%
    BB23.2%
    BBB20.3%
    Non-Rated8.1%
    A6.8%
  • American Emerging Fixed Interest18.1%
    African Fixed Interest16.6%
    GCC Fixed Interest5.9%
    Brazilian Fixed Interest5.7%
    Middle East & African Fixed Interest5.6%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-3.7%-4.7%-5.8%-3.3%33.3%40.7%
Sector-2.9%-2.3%-4.8%-1.9%19.5%10.3%
Rank within sector9 / 129 / 129 / 128 / 111 / 101 / 10
Quartile3rd3rd3rd3rd1st1st
Calendar performance
 YTD - 20182017201620152014
Fund-4.2%3.5%32.2%3.6%10.9%
Sector-2.7%3.8%24.9%-4.2%4.3%
Rank within sector9 / 128 / 112 / 102 / 103 / 10
Quartile3rd3rd1st1st2nd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
4.28
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.94
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.58
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
10.58
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
3.88
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
1
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.87
Price movement
52 week high169.09
52 week low157.85
Current bid price-
Current offer price-
Current mid price157.85
Region
1Brazil5.71%
2Argentina4.73%
3Mexico4.14%
4Singapore3.76%
5Russia3.41%
6Indonesia2.99%
7Ukraine2.8%
8Nigeria2.68%
9Turkey2.58%
Industry sector
1B31.8%
2BB23.2%
3BBB20.3%
4Non-Rated8.1%
5A6.8%
6AAA4.4%
7AA2%
8Money Market1.4%
9CCC1.2%
Asset type
1American Emerging Fixed Interest18.12%
2African Fixed Interest16.6%
3GCC Fixed Interest5.87%
4Brazilian Fixed Interest5.71%
5Middle East & African Fixed Interest5.57%
6European Emerging Fixed Interest4.68%
7Mexican Fixed Interest4.14%
8Singapore Fixed Interest3.76%
9Russian Fixed Interest3.41%
Individual holdings
1SINGAPORE(GOVT OF) 4% BDS 1/9/18 SGD10003.11%
2RUSSIAN FEDERATION MINISTRY FINANCE 8.15% BDS 03/02/27 RUB10002.45%
3INDONESIA(REPUBLIC OF) 8.25% BDS 15/05/36 IDR10000002.34%
4BRAZIL(FEDERATIVE REPUBLIC OF) 10% BDS 01/01/25 BRL10002.22%
5NATIONAL HIGHWAYS AUTHORITY INDIA 7.3% SYN NTS 18/05/22 INR100000002.07%
6PERU(REPUBLIC OF) 8.2% BDS 12/08/26 PEN10002%
7ISRAEL(STATE OF) 2.25% BDS 31/05/19 ILS1000001.85%
8MALAYSIA (FEDERATION OF)1.63%
9SOUTH AFRICA(REPUBLIC OF) 8.75% BDS 28/02/48 ZAR10000001.63%
Management
Fund manager group
M&G
Fund manager company
M&G UK
Fund type
OEIC
Fund objective
The Fund aims to maximise total return (the combination of income and growth of capital).
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Charles De Quinsonas31/08/2015Charles De Quinsonas was appointed deputy fund manager of the M&G Emerging Markets Bond Fund in September 2015, having joined the M&G Retail Fixed Interest team in May 2014 as a junior fund manager supporting the fund. Charles’s focus is on emerging market corporates, helping to shape the fund’s strategy and uncover additional opportunities on this ever-expanding universe. He has a solid background in corporate credit research and joined M&G from Spread Research (in Lyon, France, and New York) where he spent four years analysing a variety of high yield and emerging market industrial credits.
Claudia Calich02/12/2013Claudia Calich joined M&G in October 2013 as a specialist in emerging markets debt and was appointed fund manager of the M&G (Lux) Emerging Markets Hard Currency Bond Fund at its launch in May 2017. She has been fund manager of the M&G Emerging Markets Bond Fund since December 2013. She was also appointed fund manager of the M&G Global Government Bond Fund and deputy manager of the M&G Global Macro Bond Fund in July 2015. Claudia has over 20 years of experience in emerging markets, most recently as a senior portfolio manager at Invesco in New York, with previous positions at Oppenheimer Funds, Fuji Bank, Standard & Poor’s and Reuters. Claudia graduated with a BA honours in economics from Susquehanna University in 1989 and holds an MA in international economics from the International University of Japan in Niigata.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, United Kingdom, Ireland, Italy, Republic Of Korea, Luxembourg, Netherlands, Norway, Singapore, Sweden
M&G Emerging Markets Bond A Acc CHF
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.45%
Total expense ratio (TER)1.45%
Bid price-
Offer price-
Mid price13.0768
CurrencyCHF
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJD0L
M&G Emerging Markets Bond A Acc GBP
Initial charge-
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.44%
Total expense ratio (TER)1.44%
Bid price-
Offer price-
Mid price214.43
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMW61
M&G Emerging Markets Bond A Gr Acc EUR
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.44%
Total expense ratio (TER)1.44%
Bid price-
Offer price-
Mid price14.7136
CurrencyEUR
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0YVU
M&G Emerging Markets Bond A Gr AccUSD
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.44%
Total expense ratio (TER)1.44%
Bid price-
Offer price-
Mid price13.974
CurrencyUSD
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0YVV
M&G Emerging Markets Bond A Inc EUR
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.44%
Total expense ratio (TER)1.44%
Bid price-
Offer price-
Mid price11.8567
CurrencyEUR
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJCZV
M&G Emerging Markets Bond A Inc GBP
Initial charge-
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.44%
Total expense ratio (TER)1.44%
Bid price-
Offer price-
Mid price92.64
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMW60
M&G Emerging Markets Bond A Inc USD
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.44%
Total expense ratio (TER)1.44%
Bid price-
Offer price-
Mid price11.6563
CurrencyUSD
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKJ1D
M&G Emerging Markets Bond AH Acc CHF
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.46%
Total expense ratio (TER)1.46%
Bid price-
Offer price-
Mid price11.4455
CurrencyCHF
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMFWH
M&G Emerging Markets Bond AH Acc EUR
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.46%
Total expense ratio (TER)1.46%
Bid price-
Offer price-
Mid price11.3684
CurrencyEUR
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKUVT
M&G Emerging Markets Bond AH Inc EUR
Initial charge4%
Annual charge1.25%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.46%
Total expense ratio (TER)1.46%
Bid price-
Offer price-
Mid price9.441
CurrencyEUR
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKUVU
M&G Emerging Markets Bond B Acc EUR
Initial charge1.25%
Annual charge1.75%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.95%
Total expense ratio (TER)1.95%
Bid price-
Offer price-
Mid price13.6606
CurrencyEUR
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJD0K
M&G Emerging Markets Bond B Inc
Initial charge1.25%
Annual charge1.75%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.95%
Total expense ratio (TER)1.95%
Bid price-
Offer price-
Mid price9.6921
CurrencyEUR
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPEB
M&G Emerging Markets Bond BH Acc
Initial charge1.25%
Annual charge1.75%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)1.97%
Total expense ratio (TER)1.97%
Bid price-
Offer price-
Mid price11.7243
CurrencyEUR
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMPEC
M&G Emerging Markets Bond BH Inc
Initial charge1.25%
Annual charge1.75%
Min single investment£1,000
Min regular saving£75
Available in ISANo
Ongoing charge (OCF)2%
Total expense ratio (TER)2%
Bid price-
Offer price-
Mid price10.28
CurrencyEUR
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMPED
M&G Emerging Markets Bond C Acc CHF
Initial charge1.25%
Annual charge0.6%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.79%
Total expense ratio (TER)0.79%
Bid price-
Offer price-
Mid price13.4092
CurrencyCHF
Price updated15/02/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJD0M
M&G Emerging Markets Bond C Gr Acc USD
Initial charge1.25%
Annual charge0.6%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.79%
Total expense ratio (TER)0.79%
Bid price-
Offer price-
Mid price14.4397
CurrencyUSD
Price updated15/02/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0YVX
M&G Emerging Markets Bond C Gr AccEUR
Initial charge1.25%
Annual charge0.6%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.79%
Total expense ratio (TER)0.79%
Bid price-
Offer price-
Mid price15.1884
CurrencyEUR
Price updated15/02/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0YVW
M&G Emerging Markets Bond C Inc EUR
Initial charge1.25%
Annual charge0.6%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.79%
Total expense ratio (TER)0.79%
Bid price-
Offer price-
Mid price12.5467
CurrencyEUR
Price updated15/02/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKJ1E
M&G Emerging Markets Bond C Inc USD
Initial charge1.25%
Annual charge0.6%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.79%
Total expense ratio (TER)0.79%
Bid price-
Offer price-
Mid price11.9462
CurrencyUSD
Price updated15/02/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKJ1F
M&G Emerging Markets Bond CH Acc CHF
Initial charge1.25%
Annual charge0.6%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.81%
Total expense ratio (TER)0.81%
Bid price-
Offer price-
Mid price11.6226
CurrencyCHF
Price updated15/02/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeMFWI
M&G Emerging Markets Bond CH Acc EUR
Initial charge1.25%
Annual charge0.6%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.81%
Total expense ratio (TER)0.81%
Bid price-
Offer price-
Mid price11.5452
CurrencyEUR
Price updated15/02/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKUVV
M&G Emerging Markets Bond CH Inc EUR
Initial charge1.25%
Annual charge0.6%
Min single investment£500,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.81%
Total expense ratio (TER)0.81%
Bid price-
Offer price-
Mid price9.5039
CurrencyEUR
Price updated15/02/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKUVW
M&G Emerging Markets Bond I Acc GBP
Initial charge-
Annual charge0.6%
Min single investment£500,000
Min regular saving£10,000
Available in ISANo
Ongoing charge (OCF)0.79%
Total expense ratio (TER)0.79%
Bid price-
Offer price-
Mid price157.85
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0YVS
M&G Emerging Markets Bond I Inc GBP
Initial charge-
Annual charge0.6%
Min single investment£500,000
Min regular saving£10,000
Available in ISANo
Ongoing charge (OCF)0.79%
Total expense ratio (TER)0.79%
Bid price-
Offer price-
Mid price125.43
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi code0YVT
M&G Emerging Markets Bond IH Acc GBP
Initial charge-
Annual charge0.6%
Min single investment£500,000
Min regular saving£10,000
Available in ISANo
Ongoing charge (OCF)0.81%
Total expense ratio (TER)0.81%
Bid price-
Offer price-
Mid price119.45
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeMFWJ
M&G Emerging Markets Bond IH Inc GBP
Initial charge-
Annual charge0.6%
Min single investment£500,000
Min regular saving£10,000
Available in ISANo
Ongoing charge (OCF)0.81%
Total expense ratio (TER)0.81%
Bid price-
Offer price-
Mid price105.2
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeMFWK
M&G Emerging Markets Bond R Acc GBP
Initial charge-
Annual charge1%
Min single investment£500
Min regular saving£100
Available in ISANo
Ongoing charge (OCF)1.18%
Total expense ratio (TER)1.18%
Bid price-
Offer price-
Mid price145.22
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code0ZD1
M&G Emerging Markets Bond R Inc GBP
Initial charge-
Annual charge1%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.19%
Total expense ratio (TER)1.19%
Bid price-
Offer price-
Mid price116.9
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0ZD2
M&G Emerging Markets Bond X Acc GBP
Initial charge-
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.43%
Total expense ratio (TER)1.43%
Bid price-
Offer price-
Mid price214.91
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codePK44
M&G Emerging Markets Bond X Inc GBP
Initial charge-
Annual charge1.25%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)1.44%
Total expense ratio (TER)1.44%
Bid price-
Offer price-
Mid price91.27
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codePK45
Data provided by

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