M&G Optimal Income Fund
Richard Woolnough
Fund Manager: Richard Woolnough
Funds Managed: M&G Corporate Bond Fund, M&G Optimal Income Fund
The fund aims to provide a total return to investors based on exposure to optimal income streams in investment markets.
The Fund aims to provide a total return to investors through strategic asset allocation and specific stock selection. The Fund will be at least 50% invested in debt instruments, but may also invest in other assets including collective investment schemes, money market instruments, cash, near cash, deposits, equities and derivatives. Derivative instruments may be used for both investment purposes and efficient portfolio management.
The M&G Optimal Income Fund is a fully flexible bond fund, allowing investment across a broad range of fixed income assets according to where the fund manager identifies value. The investment approach begins with a top-down assessment of the macroeconomic environment, including the likely path of growth, inflation and interest rates. The results of this analysis help inform the fund's duration positioning and its allocation to the various bond asset classes. Individual credit selection is carried out in conjunction with M&G's in-house team of credit specialists, which provides bottom-up analysis of the corporate bond markets to complement the fund manager's views.
There are no restrictions on the amount of government bonds, investment grade bonds or high yield bonds that can be held within the portfolio. The fund may also invest in other assets, including cash, equities and derivatives. Derivative instruments may be used for both investment purposes and efficient portfolio management.
Richard Woolnough joined M&G in January 2004. He is a fund manager on the M&G retail fixed interest team. Richard began his career at Lloyds Merchant Bank in 1985, moving to Italian Bank Assicurazioni Generali two years later, followed by SG Warburg. In 1995, he was recruited by Old Mutual to manage a £550 million investment grade corporate bond portfolio. In 2000, he assumed responsibility for a new fund - the Old Mutual Corporate Bond Fund. Richard graduated from the London School of Economics with a BSc in economics.
For more information on this fund please contact us.
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