M&G Corporate Bond Fund
Launch Date 15/04/1994 Initial Charge 3.00%
Fund Size £3,996M Discount 3.00%
ISIN Number GB0031285678 The total cost of investment after the discount is applied* 0%
Legal Structure OEIC (OEIC) Annual Management Charge 1.00%

*In addition, the fund manager will incur stamp duty, bid/offer spreads in the market and stock broking commission, which may be in part passed onto the investor. Charges rounded up to nearest 0.01%

The M&G Corporate Bond fund offers the investor a low volatility home for the fixed interest allocation of their portfolio. Most of the bond's holdings are higher quality investment grade fixed and variable rate bonds that are issued mainly by established companies; exposure to high yield bonds is limited. All bond holdings are Sterling denominated.

Up to 20% of the fund may be invested in Gilts at any one time, though the fund aims to achieve a higher total return from investment than would be achieved from UK gilts of similar maturities. M&G also benefit from one of Europe's largest fixed interest credit departments, boasting over 60 analysts.

Woolnough began his investment career in 1987, following a short period in gilt sales upon completion of his Economics degree from LSE. Since graduation he has been continuously involved in the fixed interest sector, developing considerable experience, expertise and an excellent track record.
Key Sector % of fund
   BBB 34.1%
   A 30.9%
   AAA 11.3%
   AA 8.4%
   NON-RATED 6.8%
   BB 4.7%
   B 1.8%
   MONEY MARKET 1.8%
   CCC 0.2%

The current asset allocation is shown above and the relative performance of the fund in the table below. Please bear in mind that past performance is not a guide to the future, the value of the investments and any income can go down as well as up and you may not get back the amount you invested
Cumulative Performance
3 mth 6 mth 1 yr 3 yr 5 yr
Fund 2.86% 4.84% 15.26% 29.27% 30.96%
Sector 0.82% 3.33% 16.91% 10.85% 10.79%
Relative to sector 2.04% 1.51% -1.65% 18.42% 20.17%
Rank within sector 7/86 10/85 53/83 2/74 2/65

Data supplied by M&G and Financial Express as at July 2010, bid/bid, income reinvested. Our views are based upon our understanding of the current legislation. You should not act on any of the information without seeking professional advice. clarity is authorised and regulated by the Financial Services Authority. The Financial Services Authority does not regulate all types of Pensions, Mortgages or Taxation Advice.