M&G's Woolnough Beats Tracker Fund - But Only Just

M&G's Richard Woolnough, manager of the largest fund in the UK, just outperforms a highly rated tracker over eight years

David Brenchley 21 August, 2018 | 2:35PM
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active versus passive, Richard Woolnough, M&G Investments, M&G Optimal Income, funds

For three decades, bond markets rallied. Rates fell, prices rose, and bond fund managers rejoiced. But recently, the tide has turned. The Federal Reserve and the Bank of England are raising interest rates, quantitative easing is being wound down. 

Many bond fund managers are being tested for the first time in their careers. While most equity fund managers have invested through a market cycle, the same cannot be said of fixed income investors. 

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
iShares Corporate Bond Index (UK) D Acc175.50 GBP0.29Rating
M&G Corporate Bond GBP I Acc84.34 GBP0.20Rating
M&G Optimal Income GBP I Acc244.27 GBP0.14Rating
M&G Strategic Corporate Bond GBP I Acc1,503.20 GBP0.18Rating
Vanguard LifeStrategy 20% Eq A Grs Acc179.47 GBP0.15Rating

About Author

David Brenchley

David Brenchley  is a Reporter for Morningstar.co.uk