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Sterling Strategic Bond
M&G Optimal Income Fund
Managed by M&G Securities Limited
Latest factsheet
Jul 2026
Fund size
£1.24bn
Yearly charge
1.03%
Manager fee
–
Income yield
3.70%
Holdings
174
Launched
8 Dec 2006
The fund aims to provide a combination of capital growth and income, net of the Ongoing Charge Figure, higher than the average return of the Bloomberg Global Aggregate Index GBP Hedged over any five-year period. At least 70% of the fund is invested in bonds issued by government and companies from anywhere in the world, including emerging markets. These bonds can be denominated in any currency. At least 80% of the fund is in sterling or hedged into sterling. The fund is a flexible global bond fund, seeking to invest in a combination of assets that together provide the most attractive or ‘optimal’ income stream.
Richard Woolnough (Fund Manager) · Stefan Isaacs (Fund Manager) · Ben Lord (Fund Manager)
Calendar-year performance
| 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| -8.40% | +2.20% | +9.90% | +4.30% | +2.40% |
Top holdings
| # | Holding | Weight | |
|---|---|---|---|
| 1 | Alphabet | 2.90% | |
| 2 | Amazon | 2.70% | |
| 3 | European Union | 2.10% | |
| 4 | Meta Platforms | 2.10% | |
| 5 | Lloyds Banking Group | 1.10% | |
| 6 | Intesa Sanpaolo | 1.00% | |
| 7 | BNP Paribas | 1.00% | |
| 8 | Microsoft | 0.90% | |
| 9 | Philip Morris International | 0.90% | |
| 10 | Banco Santander | 0.80% |
Portfolio breakdown
Asset allocation
| Government bonds | 46.30% | |
| Investment grade corporate bonds | 38.70% | |
| High yield corporate bonds | 7.60% | |
| Cash | 7.20% | |
| Securitised | 3.10% | |
| Equities | 0.10% | |
| Other | 0.00% |
Share classes
| Class | ISIN | SEDOL | Type | Hedged | Manager fee | Yearly charge | Minimum |
|---|---|---|---|---|---|---|---|
| Sterling A Acc | GB00B1H05155 | – | acc | – | – | 1.03% | £500 |
| Sterling A Inc | GB00B1H05049 | – | inc | – | – | 1.03% | £500 |
| Sterling I Acc | GB00B1H05718 | – | acc | – | – | 0.63% | £500k |
| Sterling I Inc | GB00B1H05601 | – | inc | – | – | 0.63% | £500k |
| Sterling R Acc | GB00B7FM9R94 | – | acc | – | – | 0.88% | £500 |
| Sterling R Inc | GB00B76FNM05 | – | inc | – | – | 0.88% | £500 |
Source factsheets
| Month | Published by the manager | Read on |
|---|---|---|
| Jul 2026 | View original factsheet ↗ | 22 Aug 2026 |