Morningstar Fund Report  | 11/04/2025Print

M&G Global High Yield Bond Fund Sterling PP Inc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
M&G Global High Yield Bond Fund Sterling PP Inc
Fund2.3-11.59.99.11.2
+/-Cat-1.5-0.8-1.31.00.1
+/-B’mrk-2.40.2-2.90.70.1
 
Category: Global High Yield Bond - GBP Hedged
Category Benchmark: Morningstar Gbl HY Bd GR Hd...
Key Stats
NAV
10/04/2025		 GBP 0.84
Day Change 0.97%
Morningstar Category™ Global High Yield Bond - GBP Hedged
IA (formerly IMA) Sector £ High Yield
ISIN GB00BK7XXJ10
Fund Size (Mil)
09/04/2025		 GBP 816.79
Share Class Size (Mil)
09/04/2025		 GBP 1.07
Max Initial Charge -
Ongoing Charge
14/02/2025		  0.48%
Morningstar Research
Analyst Report26/11/2024
Giovanni Cafaro, Analyst
Morningstar, Inc

M&G Global High Yield Bond’s long-standing managers Stefan Isaacs and James Tomlins put their experience and the firm’s strong and growing analyst bench to good effect for this global approach to high-yield investment. The Morningstar Analyst...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent23
Process24
Performance
Price
Investment Objective: M&G Global High Yield Bond Fund Sterling PP Inc
The Fund aims to provide a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than that of the ICE BofAML Global High Yield Index (GBP Hedged) over any five-year period. At least 80% of the Fund is invested, directly or indirectly through derivatives, in below investment grade corporate debt securities. These securities can be issued by companies from anywhere in the world, including Emerging Markets.
Returns
Trailing Returns (GBP)10/04/2025
YTD-0.47
3 Years Annualised3.44
5 Years Annualised5.02
10 Years Annualised-
12 Month Yield 6.30
Dividend Paying Frequency Monthly
Management
Manager Name
Start Date
Stefan Isaacs
30/09/2010
Luke Coha
15/01/2024
Click here to see others
Inception Date
05/08/2019

Category Benchmark
Fund BenchmarkMorningstar Benchmark
ICE BofA Gbl HY TR HGBPMorningstar Gbl HY Bd GR Hdg GBP
Portfolio Profile for  M&G Global High Yield Bond Fund Sterling PP Inc31/03/2025
Fixed Income
Effective Maturity-
Effective Duration-
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock0.240.000.24
Bond90.890.0090.89
Property0.000.000.00
Cash96.0288.117.91
Other0.960.000.96
Growth Of 1000 (GBP) 31/03/2025
Fund:  M&G Global High Yield Bond Fund Sterling PP Inc
Category:  Global High Yield Bond - GBP Hedged
Category Index:  Morningstar Gbl HY Bd GR Hdg GBP
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 2020202120222023202431/03
Price Return2.182.33-11.509.949.121.22
+/- Category-1.43-1.53-0.76-1.320.980.14
+/- Category Index-2.79-2.400.19-2.870.730.12
% Rank in Category717950792438
Trailing Returns (GBP)10/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.97   1.340.85
1 Week-1.52   1.221.10
1 Month-2.05   1.130.92
3 Months-0.59   1.190.89
6 Months0.28   0.820.57
YTD-0.47   1.160.81
1 Year5.81   1.050.29
3 Years Annualised3.44   -0.20-0.71
5 Years Annualised5.02   -0.85-0.57
10 Years Annualised-   --
 
Category: Global High Yield Bond - GBP Hedged
Category Index: Morningstar Gbl HY Bd GR Hdg GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20251.22---
20241.831.535.170.36
20231.981.180.436.10
2022-4.62-10.19-2.075.51
20211.031.78-0.19-0.29
2020-14.4810.112.286.09
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAverage3 star
5-YearBelow AverageAverage2 star
10-Year--Not Rated
OverallBelow AverageAverage2 star
 
Category :  Global High Yield Bond - GBP HedgedClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev7.57 %
3-Yr Mean Return4.36 %
 
3-Yr Sharpe Ratio0.04
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Gbl HY Bd GR Hdg GBP  Morningstar Gbl HY Bd GR Hdg GBP
3-Yr Beta0.890.89
3-Yr Alpha-0.40-0.40
 
Fixed Income Style-
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)GBP 1007
Maturity Distribution %
1 to 317.14
3 to 536.77
5 to 727.03
7 to 107.98
10 to 151.68
15 to 200.23
20 to 301.28
Over 306.65
Effective Maturity-
Effective Duration-
Credit Quality Breakdown %     %
AAA -   BB-
AA-   B-
A-   Below B-
BBB-   Not Rated-
 
Category: Global High Yield Bond - GBP Hedged
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock0.240.000.24
Bond90.890.0090.89
Property0.000.000.00
Cash96.0288.117.91
Other0.960.000.96
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings10
Total Number of Bond Holdings312
Assets in Top 10 Holdings13.71
NameSectorCountry% of Assets
M&G (Lux) Sterling Liquidity GBPZ6A DistLuxembourg6.91
Transocean Inc. 8.25%United States0.95
AES Corp. 7.6%United States0.78
Darling Ingredients, Inc 6%United States0.78
Magnera Corp. 4.75%United States0.76
Eramet S.A. 6.5%France0.72
Petroleos Mexicanos 6.5%Mexico0.72
Continental Resources, Inc. 5.75%United States0.71
United States Treasury Notes 3.25%United States0.69
Pemex Project Funding Master Trust 6.... Mexico0.68
 
Increase Decrease New since last portfolio
Category: Global High Yield Bond - GBP Hedged
 
Management
Name of CompanyM&G Securities Ltd
Phone+44 (0)800 390 390
Websitewww.mandg.co.uk
Address10 Fenchurch Avenue
 London   EC3M 5AG
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date05/08/2019
Fund Advisor(s)
M&G Investment Management Limited
Fund ManagerStefan Isaacs
Manager Start Date30/09/2010
 
Biography
Stefan Isaacs is Deputy CIO of Public Fixed Income and Head of M&G's Wholesale Fixed Income business. 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. He was appointed fund manager of the M&G European corporate bond strategy in April 2007. Since 2010, he has also been managing a number of high yield and high yield ESG strategies in London and in Luxembourg.
Fund ManagerLuke Coha
Manager Start Date15/01/2024
Fund ManagerJames Tomlins
Manager Start Date01/01/2014
 
Biography
James Tomlins, who has more than a decade of experience in high yield credit, joined M&G in June 2011 and started managing fixed income portfolios in January 2014. The strategies he manages include the Global High Yield Bond, the Global Floating Rate High Yield and the Global High Yield ESG Bond strategies. James was previously an analyst and then a fund manager at Cazenove Capital Management. Before Cazenove, he was at KBC Alternative Investment Management; in the three years prior to that, he worked at Merrill Lynch Investment Managers. James is a CFA charterholder. He graduated with an MA in history and PgDip in economics from the University of Cambridge.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.50%
Ongoing Charge0.48%
Purchase Details
Minimum Investments
Initial50000000  GBP
Additional10000  GBP
Savings-
Tax Free Savings Schemes
ISAsNo