3 July 2014 - M&G have announced that they will be changing the name of the High Yield Corporate Bond fund. From 8th August 2014, the fund will be called M&G Global High Yield Bond.
The company has made this decision as they feel adding Global to the name of the fund more clearly describes that the fund can (and has always been able to) invest in markets and major currencies worldwide.
They have also removed the word 'corporate' as, although the fund invests predominantly invests in bonds of individual companies, it can also invest in high yield government bonds.
There will be no change to the way the fund is managed.
Chelsea rates this fund a 'hold'.
There are currently three M&G funds on the Chelsea Selection: Global Dividend, Global Emerging Markets and Optimal Income.