M&G is to launch a Global Corporate Bond fund next week to be run by Ben Lord.
The fund will invest in investment grade corporate bonds issued in any currency from companies based in any country, although it also has the ability to invest in high yield and government bonds.
Mr Lord is deputy manager on star manager Richard Woolnough’s M&G Corporate Bond and Strategic Corporate Bond funds.
The two existing corporate bond funds have more than £10bn invested in them. M&G is attempting to slow inflows into the funds through negotiations with larger distributors, but no formal measures such as soft-closure have yet been taken.