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The services and products provided by M&G Investment Management Limited are available only to investors who come within the category of Professional Client as defined in the Financial Conduct Authority’s Handbook. They are not available to Retail Clients, who should not rely on the information contained in this website.

Please read this page before proceeding, as it explains certain restrictions imposed by law on the distribution of this information and the countries in which our funds are authorised for sale.

The funds contained on this site may not be registered for sale or distribution in your jurisdiction. It is your responsibility to be aware of the applicable laws and regulations of your country of residence. This information is not for use within any country or jurisdiction where said use would constitute a violation of law.

The following pages do not constitute an offer or solicitation to sell shares in any of the funds referred to on this site, by anyone in any jurisdiction in which such offer, solicitation or distribution would be unlawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.

Past performance is not a guide to future performance. Prices of investments may fluctuate and you may not get back your original investment.  You should ensure you understand the risk profile of the products or services you plan to purchase.

This website is not intended for use by any person in the United States. Shares in M&G Funds have not been and will not be registered under the United States Securities Act of 1933, as amended, or registered or qualified under the securities laws of any state of the United States and may not be offered, sold, transferred or delivered, directly or indirectly, to any investors within the United States or to, or for the account of, US Persons except in certain limited circumstances pursuant to a transaction exempt from such registration or qualification requirements. None of the shares have been approved or disapproved by the US Securities and Exchange Commission, any state securities commission in the United States or any other US regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits of the offering of the shares or the accuracy or adequacy of the Prospectus. The Funds will not be registered under the United States Investment Company Act of 1940, as amended.

The views expressed within this website do not necessarily reflect the views of the M&G Group as a whole or any part thereof.

M&G companies do not offer investment advice or make any recommendations regarding investments. We only promote products and services of M&G Securities Limited and M&G Investment Management Limited. 
Companies within the M&G Group which do not carry out investment business in the UK are not subject to the provisions of the UK Financial Services and Markets Act 2000. Accordingly, investors entering into investment agreements with such companies will not have the protection afforded by that Act or the rules and regulations made under it, including the UK's Financial Services Compensation Scheme.

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Audience

Institutional fixed income

Our fixed income business manages £134bn* of assets for a range of institutional clients including 40 local authority pension funds and two-thirds of the top 40 UK pension funds.

*As at 30 September 2012

Our investment philosophy

Our investment philosophy is based on our belief that markets are routinely driven away from fair value by such factors as greed, panic, investing restrictions and forced selling. As a result, a patient investor with a good understanding of fundamental value can take advantage of these situations to acquire assets when they are cheap and avoid those that appear expensive. We believe that assets tend to move toward fair value over the medium term as the impact of short-term technical factors recedes.

What sets M&G apart?

We are an investment-led manager, investing over £123bn* on behalf of our parent company, Prudential plc, an organisation with many long-dated liabilities like those of pension schemes. This similarity means that we truly understand the concerns of long-term investors and our interests are well aligned with those of our clients. We believe that this understanding gives us a truly competitive edge, leading to the delivery of strong performance in difficult market conditions.

The heart of our investment approach is our ability to assess, in real depth, the fundamental creditworthiness of issuers. These credit assessments, researched by our well-resourced and highly experienced analyst team, allow our fund managers to identify relative and absolute value in the credit market. Access to a team of analysts that has the capability to independently research and rate all stocks in the investment universe is vital to our success.

M&G fixed income assets under management (as at 31 March 2013)

Assets under management by asset class and client type
 

 

We employ what we believe to be one of the largest, most experienced credit research teams in Europe and have a long history of providing attractive fixed income opportunities to our institutional clients.

Benefits of scale

Managing {FUM_GBP}* of assets makes us a very sizeable long-term credit investor, giving us the scale and access to research companies and markets in detail. We are able to engage with senior company management teams, and we take our fiduciary responsibilities very seriously.

The scope and quality of our research teams enable our industry-leading portfolio managers to act decisively to construct portfolios to meet our clients’ expectations.

A diversified approach to risk taking

How do we mitigate against potential defaults? We attempt to do so through detailed credit analysis, diversification and strong risk management. In addition, we have a dedicated team of restructuring specialists who can step in when a security becomes distressed.

Consistent outperformance

Our ability to understand an investor’s need to achieve the right balance between risk and reward when managing their portfolio is key to our business.

All actively managed fixed income mandates for external institutional clients met or beat their benchmarks over the three years to the end of 2012.

Most importantly, we do not take on risk unless we believe we will be adequately compensated for doing so.

* As at {FUM_DATE}. 

Past performance is not a guide to future performance.

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For investment professionals only. Not for onward distribution to any other type of client. No other persons should rely on the information contained on this website. The value of investments will fluctuate, which will cause fund prices to fall as well as rise and you may not get back the original amount you invested.