M&G is making changes to the M&G Global Basics fund
22 November 2017
M&G has decided to make some changes to the way the M&G Global Basics fund is managed. With effect from 17 November 2017, the investment objective and policy of the fund has changed:
Previous investment objective and policy:
The sole aim of the Fund is long term capital growth.
The Fund is a global equity fund which invests wholly or mainly in companies operating in basic industries (‘primary’ and ‘secondary’ industries) and also in companies that service these industries. The Fund may also invest in other global equities.
Investment objective and policy with effect from 17 November:
The Fund aims to provide a higher total return (the combination of capital growth and income) than that of the MSCI All Country World Index over any five-year period.
The Fund will invest at least 80% of its Net Asset Value in the equity securities of companies across any sectors and market capitalisations that are domiciled in any country, including emerging markets. The Fund may also invest in collective investment schemes, other transferable securities and may hold cash for liquidity purposes. Derivatives may be used for efficient portfolio management
As a result of this, the name of the fund has also changed to M&G Global Themes.
Funds and Products affected by the changes:
This affects customers invested in these funds through the following products:
Zurich Intermediary Platform
M&G Global Basics A Acc GBP
M&G Global Basics A Inc GBP
M&G Global Basics I Acc GBP Clean
M&G Global Basics I Inc GBP Clean
Sterling Investment Bond
Sterling M&G Global Basics
Sterling M&G Global Basics 2
Sterling ISA and Sterling Investment Account
M&G Global Basics I Acc
Zurich Pension
Zurich M&G Global Basics ZP
Zurich M&G Global Basics AP
Zurich M&G Global Basics 1% AP*
Zurich M&G Global Basics Accumulation AP*
Zurich M&G Global Basics Capital AP*
Zurich Investment Bond
Zurich M&G Global Basics AL
Zurich M&G Global Basics G4 AL*
*Please note that for these funds, our policy systems and literature will be updated at the next opportunity
How will we communicate these changes?
We will write to you with a list of your clients invested in these funds (unless you have clients invested in the fund on the Zurich Intermediary Platform in which case you should run a Total Holdings report and filter on the M&G Global Themes fund). We’ll also write to your clients but if any of them contact us, we’ll strongly advise them to contact you for more information.
Download notification from M&G
Download example of customer letter