For more information on the financial terms used in this page, please consult the glossary.
What is a share class?
A share class is a type of share held by investors in a fund. M&G OEIC funds have different share classes, designated with letters such as A, R and I. Share classes have different levels of ongoing charges and minimum investment amounts.
For the majority of M&G OEIC funds, investors can choose between the following share classes:
- Sterling Class A Shares
- Sterling Class I Shares
- Sterling Class R Shares
Your choice of share class depends on whether you're investing on the recommendation of an adviser or not and also how much money you have to invest.
Sterling Class A Shares
Available to invest in The M&G ISA, The M&G Junior ISA, M&G OEIC and The M&G Savings Plan.
- Minimum investment level (lump sum): £500
Sterling Class I Shares
Available to invest in The M&G ISA, M&G OEIC and The M&G Savings Plan.
- Minimum investment level (lump sum): £500,000
- Available on myM&G when the overall value of your investment is £250,000 or more. Minimum investment level: £1
Sterling Class R Shares
Available to invest in The M&G ISA, The M&G Junior ISA and M&G OEIC when you invest via a financial adviser.
- Minimum investment level (lump sum): £500
- This is the entry share class on myM&G for holdings up to £249,999. Minimum investment level: £1
Our Sterling Share Classes do not carry an entry charge or exit charge. However, an ongoing charge will still apply. The ongoing charge is made up of the Annual Charge which may be discounted depending on the size of the fund, and extraordinary expenses. For information on all our charges, please refer to our Fund charges page.
In the Fund availability and fund types table of the M&G Important Information for Investors document, you will find information about the specific share classes available in your choice of fund(s).
Certain funds have other share classes available for direct investment (outside The M&G ISA, The M&G Junior ISA and The M&G Savings Plan). For more information on these, please see the relevant Prospectus.
Income or accumulation?
Once you have chosen your share class, you need to decide how you would like your money to work for you. You can choose to receive an income from your investment and have this paid into your bank account, or you can choose to have any income your investment generates kept within your fund to add to your investment; this is known as accumulation. Income shares and accumulation shares are what we sometimes refer to as ‘share types’ and they allow you to choose the best investment options for your individual requirements.
Income shares entitle the holder to be paid the income attributed to those shares on the payment date. This is usually paid twice a year but can be paid annually, quarterly or monthly depending on the fund.
Accumulation shares don’t pay income. Instead, they automatically reinvest any income accruing to the fund and this is reflected in the share price. If a fund only offers Income shares, any net income can be reinvested to buy more shares. However please note that where income from underlying investments is saved up within the fund throughout the accounting period and reinvested to buy more shares on the reinvestment date, the income is not exposed to any market movements (up or down), unlike accumulation shares which reinvest income automatically once received.
How do I check which share class I invest in?
If you're an existing M&G customer and want to find the share class you invest in, you can check the following:
- If you invest directly with M&G using our postal and phone-based service, details of your holding can be found in your half-yearly statement. You can also find details of your holdings online via our My Account service.
- If you invest directly through our online service, myM&G, you can log in to find details of your holdings on your Valuation page.
- If you invest in M&G funds through an online platform, you should be able to find details of your holdings on your online account.
Please read the Important Information for Investors document for further information on share classes and fund choices or call our Customer Relations team on 0800 390 390.
The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. We are unable to give financial advice. If you are unsure about the suitability of your investment, speak to your financial adviser. The views expressed here should not be taken as a recommendation, advice or forecast.