M&G Global Macro Bond Fund Sterling I Acc
Rated Fund 2014-19. An eclectic and flexible approach
Jim Leaviss has run this fund in its various iterations for 20 years – since its inception in 1999. He aims to deliver income and capital growth by investing in any type of fixed interest security in the world.
The fund currently yields 3% and pays dividends quarterly. Its ongoing charges of 0.82% are higher than the sector average of 0.67%, but worth paying given the fund’s consistent track record.
Leaviss uses his flexibility to take advantage of different economic conditions and global trends, including interest rate movements and inflation. His assessment of these macroeconomic factors determines the asset classes in which the fund invests, in order to achieve its objective of maximising long-term total returns. His assessment also influences the portfolio’s mix of interest rate risk, credit risk and currency exposure.
This approach means that Leaviss can constantly reassess relative value from among the whole range of different bond types, from ‘safe haven’ government bonds to riskier corporate and emerging market bonds. Leaviss actively manages the types of bond in the fund and their maturities, and by using derivatives he believes he can also ensure that the fund is able to perform in all types of market conditions. He can also invest in any currency, offering further diversification benefits.
He examines the relative attractiveness of different currencies, analysing indicators such as capital flows, economic growth and current account balances, monetary policy and inflation.
Narrative and ratings content all as of 01 January 2019.See all Money Observer rated funds
|United States Treasury Notes 2.75%||9.70 %|
|United States Treasury Notes 2.75%||9.14 %|
|United States Treasury Notes||7.52 %|
|United States Treasury Notes 0.62%||5.18 %|
|United States Treasury Notes 2.38%||4.04 %|
|Germany (Federal Republic Of) 0.5%||3.75 %|
|United Kingdom of Great Britain and Northern Ireland||3.08 %|
|Spain (Kingdom of)||2.40 %|
|Italy (Republic Of)||2.35 %|
|European Bank For Reconstruction & Development 2.65%||1.95 %|
Jim Leaviss is Head of Retail Fixed Interest for M&G’s mutual fund range. He joined M&G in 1997 after five years at the Bank of England. As well as heading up the team, Jim is co-manager of the M&G (Lux) Absolute Return Bond Fund and also manages the M&G Global Macro Bond Fund and is deputy fund manager of the M&G Global Government Bond Fund.
Data provided by Morningstar.
The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Money Observer and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.
This information is sourced from our partner Morningstar. We believe the data to be correct however you should take care in using any information.
You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.