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M&G Corporate Credit Opportunities ELTIF
Key Statistics
Fund Size
€1,046M
Target Return
8.3%
Launch Year
2023
Min. Investment
€25,000
Availability
Open through selected distributors
Structure
SICAV
Product Category
Open-end
Domicile
Luxembourg
GP Type
Single
Liquidity Level
Semi-liquid
Management Fee
1.47%
Carry
None%
High Water Mark
No
ISIN
LU2600129592
Currencies
EUR
Investor Eligibility
Retail
Liquidity Options
Monthly redemptions with 90 days’ notice
Highlights
Key Information Document (KID) – EU Funds
KID Risk Indicator
4 out of 7
Annual Returns (KID Scenarios)
Stressed
-10%
Moderate
4.01%
Favorable
8.29%
Average Total Cost Level (KID)
1.8%
Allocations
Geographic Focus
Investment Strategy
Industry Focus
Portfolio Composition
Historical Performance
Information about fund
Go-Anywhere European Corporate Credit in an ELTIF
M&G Corporate Credit Opportunities ELTIF is a Luxembourg long-term investment fund launched on 31 October 2023 and run by Michael George with deputy manager Fiona Hagdrup from M&G’s private credit team, which has been lending to European companies since 1999. The fund does not restrict itself to one corner of credit: the mandate encompasses senior and junior syndicated loans, high-yield bonds and directly originated private loans, tilted to wherever M&G believes the best relative value lies. The target is Euribor plus 5% to 6% a year before fees over a ten-year recommended holding period.
Key Figures (31 July 2026)
Fund Size
€1.05B
214 issuers
Yield to Maturity
7.6%
Average rating B
Target
Euribor +5–6%
Gross, medium term
Ongoing Charge
1.47%
P class; 0.69–1.97% by class
Liquidity
Monthly
90 days’ notice
Minimum
€25,000
P class; €10,000 for P2
Portfolio and Performance
The fund had grown to €1.05 billion by 31 July 2026, spread across 214 issuers with an average credit rating of B and a yield to maturity of 7.6%. At that date 78% sat in liquid corporate credit and 22% in illiquid private loans, with healthcare, services and technology the largest sectors and the UK, Germany, the Netherlands and France the main countries. Recent primary deals included Vitamin Well, Spheros and Ramsay Santé. The newer P2 distributing class returned 1.5% net over the year to July 2026 (3.4% gross) — a reminder that fees bite hard on a sub-8% yield.
Share Classes (monthly review, July 2026)
| EUR P Acc / Dis | LU2600129592 / LU2600129675 — 1.47% ongoing charge, €25,000 minimum, launched Nov 2023 |
| EUR P2 Acc / Dis | LU2968577184 / LU2968577002 — 1.97%, €10,000, launched Apr 2025 |
| EUR W Acc / Dis | LU2600129758 / LU2600129832 — 0.87–0.88%, €500,000 |
| EUR EI Acc / Dis | LU2600129915 / LU2600130095 — 0.69%, €1,000,000 |
| Allocation | 78% liquid corporate credit, 22% illiquid private credit; 8.7% cash |
| Top sectors | Healthcare 18%, services 13%, technology 13%, basic industry 11% |
Costs and Liquidity
Charges vary by class: 1.47% a year for the P class from €25,000, 1.97% for P2 from €10,000, 0.87% for W from €500,000 and 0.69% for the institutional EI class from €1 million. There are no performance fees. Withdrawals are monthly subject to a 90-day notice period, income classes pay out quarterly, and the fund is SFDR Article 8. As an ELTIF it can be sold to retail investors across the EU, but M&G’s own documents describe it as illiquid and suitable only for a small slice of a portfolio.
Deepdive & Related Funds
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