M&G European High Yield Bond A Inc

Buy/Sell Price  (as of 20/02/2018) £0.4636   Day Change :  -0.43%     Fund Code:  MGEHI 

Important documents Before investing please ensure that you have read the Fidelity Key Features Document (incorporating the Fidelity Client Terms) and the fund information documents. These can be found by clicking on the 'Important documents' link.

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James Tomlins joined M&G in 2011 and was appointed fund manager of the M&G European High Yield Corporate Bond Fund later that year. James is a specialist in high yield credit with 10 years experience in this sector. He was previously an analyst and then a fund manager at Cazenove Capital Management. Before Cazenove, James was at KBC Alternative Investment Management and in the three years prior to that worked at Merrill Lynch Investment Managers. James is a CFA charterholder. He holds an MA in history and PgDip in economics from the University of Cambridge.
Investment HouseM&G
Fund ProviderM&G Group
ManagerJames Tomlins   Biography

Fund Objective The Fund aims to provide income and capital growth. At least 70% of the Fund is invested in higher yielding debt instruments denominated in any European currency and will normally be managed to give investors exposure to European currencies. The Funds exposure to higher yielding debt instruments may be gained through the use of derivatives. Derivatives may also be used for efficient portfolio management. The Fund may also invest in collective investment schemes, government and public securities and other transferable securities, cash, near cash, other money market instruments, warrants and other derivative instruments which may be denominated in any major global currency. Any non-European currency exposures within the Fund may be managed by currency hedges in European currencies. More than 70% of the Fund will be in euro or hedged back to euro.

Key Statistics

Fund Status
Fund TypeOEIC
12-Month NAV High £0.49
12-Month NAV Low £0.43
Fund Comparative Index -
Morningstar CategoryTMEurope High Yield Bond
Dividend FrequencyQuarterly
Distribution Yield3.97%
Underlying Yield2.56%

Annual Charges

Morningstar ratings

 as of  31/01/2018
Overall3 star
3 Years3 star
5 Years3 star
10 Years3 star

One or more funds cannot be shown as they have less than one year of performance data.

Growth of £1000 Help

 as of  20/02/2018

Past Performance (%) Help

as of 

This Fund


Fund versus Morningstar Category

Important Information

The value of the fund and the income from it can go down as well as up so you may get back less than you invested. If your fund invests in overseas markets, changes in currency exchange rates may affect the value of your investment. If your fund invests in small and emerging markets, these can be more volatile than other more developed markets. Past performance is not a guide to future returns.
For funds that invest in bonds, please be aware that the price of bonds is influenced by movements in interest rates, changes in the credit rating of bond issuers, and other factors such as inflation and market dynamics. In general, as interest rates rise the price of a bond will fall. The risk of default is based on the issuer's ability to make interest payments and to repay the loan at maturity. Default risk may therefore vary between different government issuers as well as between different corporate issuers.

 Some of the performance and risk data presented may start before the share class was launched. If so, the data prior to the launch date of the share class is based on the fund or share class that has similar or higher charges, in order to provide an indication of longer term performance and risk. Please refer to the launch date and performance start date in the fund factsheet to determine whether the data has been extended.Past Performance and Risk & Volatility figures are presented in British Pounds Sterling (GBP). Fund returns are calculated on a Nav to Nav or Bid to Bid basis with income reinvested either after tax (for UK-domiciled funds) or gross of tax (for offshore funds). Performance figures include the effect of the OCF/TER. To cover distribution costs a separate service fee is now also charged on most funds, which is not included in the past performance figures. Consequently the past performance of the fund may be less than that shown on the chart due to the effect of the service fee.

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