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Important information :
The Fund aims to achieve its investment objective by investing at least 70% in debt securities (including asset-backed securities) globally, including emerging markets.
Investments in fixed income securities are subject to interest rate, volatility, credit, sovereign and downgrade risks etc. Investments in below investment grade, unrated and/or high yielding debt instruments are subject to lower liquidity, higher volatility and greater risk of loss of principal and interest than high-rated debt securities.
Debt instruments with loss-absorption features such as contingent convertible debt securities and senior non-preferred debts are typically subject to the risk of being written down or converted to ordinary shares upon the occurrence of pre-defined trigger events and may result in a significant or total reduction in the value of such instruments.
The Fund invests in certain emerging markets and may be subject to liquidity, volatility, political, tax, economic and foreign exchange risks.
The Fund may invest in financial derivative instruments. Investors should note exposure to derivatives may involve additional risks (e.g. counterparty, liquidity, volatility, leverage and over-the-counter transaction risks).
The Fund may invest in investments denominated in currencies other than the fund's base currency and subject to currency and exchange risk. The fund may use derivatives to hedge currency risk. The use of derivatives may not be effective in offsetting the change in value of the currency.
Certain share classes of the Fund may make distribution out of capital. Payment of dividends out of capital and/or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any such distributions may result in an immediate reduction of the NAV of the share class on the ex-dividend date.
Investors should not rely solely on this material and should read the offering documents of the Fund for further details including the risk factors.
M&G (Lux) Optimal Income Fund
Uncertain market environments require a dynamic and flexible approach to effectively capture optimal income streams. Our global, flexible, and diversified bond fund, with a proven track record of over 17 years, invests in government, investment-grade corporate, and high-yield bonds. As an active bond house, we continuously adjust our bond exposure based on the current economic cycle, leveraging our in-house expert team and robust valuation framework.
Flexible
Flexibility in different environments
Global
Diversified across sectors and issuers
Active yet simple
Actively managed, combining macroeconomic views and bottom-up security selection
Outstanding
Award winning fund with consistent long term performance
Discover the M&G (Lux) Optimal Income Fund
Outstanding Recognition
We are honored to receive the Best Fund Provider – Global Bond – Intermediate to Long Term award from Asian Private Banker. This recognition is a testament to our unwavering commitment to excellence and our ambition to consistently deliver value to our clients. In this complex environment, flexibility and strategic thinking are crucial to managing risks and seizing opportunities.
Award is not an indicator of future performance.
Source: Asian Private Banker Asset Management Awards for Excellence 2025 is issued by Asian Private Banker in the year specified, reflecting the performance as at 31 August of the previous year.
Richard Woolnough shares what is takes to hold conviction through changing market conditions – from our award-winning income strategy.
Stay flexible with Optimal Income team
Led by our two portfolio managers, who bring an average of 30 years of experience, we are supported by numerous investment professionals and one of Europe’s largest credit analyst teams. This larger and more experienced team has enhanced our ability to seize a growing number of global opportunities.
M&G (Lux) Optimal Income Fund’s Portfolio Managers
Richard Woolnough
Fund Manager and Co-Head of Macro Fixed Income
Richard has over 30 years experience in fixed income markets. He joined M&G in January 2004 from Old Mutual.
Richard is the lead Fund Manager of M&G Optimal Income Strategy since its launch in December 2006. He also manages the M&G Corporate Bond Strategy since February 2004 and M&G Strategic Corporate Bond Strategy since launch in February 2004.
Richard holds a degree in economics from the London School of Economics.
Stefan Isaacs
Fund Manager and Co-Head of Macro Fixed Income
- He joined M&G as a graduate in 2001 and was subsequently promoted to corporate bond dealer specialising in high yield bonds and euro denominated credit.
- Prior to this Stefan worked as a fund manager’s assistant. He was appointed fund manager of the M&G European corporate bond strategy in April 2007 and deputy fund manager of the Optimal Income Strategy since their inception in 2007. Since 2010, Stefan has manages a number of high yield and ESG HY bond strategies in London and in Luxembourg.
- Stefan graduated BA (hons) International Business from Manchester Metropolitan University.
Source: M&G Investments, 31 December 2025.
Investment involves risk and may not be suitable for everyone. Past performance is not indicative of future performance. The value and income from the investment can fluctuate and is not guaranteed. Investors may not get back the amount they invested. Investment returns not denominated in US/HK dollar will expose US/HK dollar-based investors to exchange rate fluctuations. Fund performance will be available after the Fund has attained a 6-month investment track record. Where no past performance is shown there was insufficient data available in that period to provide performance. All periods longer than one year are annualised. M&G Investments (Hong Kong) Limited has been appointed as the Hong Kong Representative of the funds mentioned herein. Please refer to the offering documents for further details including the risk factors.
The website should not be taken as a solicitation, offer, recommendation or advice of any security or investment service. If you are in any doubt about the contents of this website, you should seek independent professional advice.
This website is intended for person located in Hong Kong.
This website is general in nature and is for information purposes only. The website is issued by M&G Investments (Hong Kong) Limited and has not been reviewed by the Securities and Futures Commission.