Effective as of 17 October 2022, the M&G Property Portfolio will be valued on a bi-monthly basis until further notice. The Fund’s Standing Independent Valuer (Knight Frank) and M&G have made the decision to supply more frequent valuations of the Fund’s assets to provide the best possible independent view of property asset values and to ensure that investors are transacting at the most up to date price. We will notify investors ahead of returning to the usual month end valuation schedule.
We would like to inform our customers and clients that Michael Wood will be appointed manager of the M&G Property Portfolio and Feeder of M&G Property Portfolio (the Fund), subject to some final regulatory checks. The incumbent manager, Justin Upton, has decided to leave at the end of the year to pursue a role elsewhere in the industry.
Michael has more than 30 years’ experience in commercial property and started working on the Fund in 2007, having joined M&G 15 years ago.
Having joined M&G 15 years ago and worked with the Fund since 2007, Michael has supported the Fund’s strategy and transacted more than £1.8 billion of assets, making him ideally placed to provide continuity and leadership.
Supported by Assistant Fund Manager, James Mieville, and the 16-strong wider Fund team, there will be a comprehensive handover of duties between now and the end of the year, after which Justin will leave M&G with our very best wishes for the future.
In April 2021 M&G confirmed it would waive its Annual Charge on cash held above 20% of the M&G Property Portfolio’s Net Asset Value until the end of 2021. Following a review by the Fund’s Authorised Corporate Director, M&G will continue this waiver until further notice.
The value and income from the fund's assets will go down as well as up. This will cause the value of your investment to fall as well as rise. There is no guarantee that the fund will achieve its objective and you may get back less than you originally invested. Past performance is not a guide to future performance.