Woolnough reintroduces equities to M&G Optimal Income after two-year hiatus

Also moved negative duration for first time

Natalie Kenway
clock • 3 min read

M&G's Richard Woolnough has added a 5% equity position to the £15.5bn Optimal Income fund, its first equity weighting in nearly two years.

In the fund's Q3 review, the manager (pictured) said a number of stocks had been added to the portfolio where he thought valuations were particularly attractive, leading to the equity position rising to 5%. "The fund's equity exposure rose to around 5% in the third quarter, after we added equities to the portfolio in July for the first time in nearly two years," he said. "Names added to included Apple, Time Warner, Daimler and BMW. "Any equity exposure constitutes an ‘off-benchmark' position for the fund, and we only get involved when individual companies' equity valuations look pa...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Bonds

Join us today to discuss why 2024 is an attractive entry point for fixed income

Join us today to discuss why 2024 is an attractive entry point for fixed income

Sarka Halas
clock 25 March 2024 • 1 min read
Partner Insight: Moving from cash to corporate bonds ahead of cutting-cycles

Partner Insight: Moving from cash to corporate bonds ahead of cutting-cycles

Fidelity International

Ben Deane, Investment Director, Fixed Income - Fidelity International
clock 19 March 2024 • 13 min read
JP Morgan AM to wind up Sterling Bond fund as assets dwindle

JP Morgan AM to wind up Sterling Bond fund as assets dwindle

Fund size of £29m

clock 18 March 2024 • 1 min read
Trustpilot