M&G Investments to Merge Away Fund of Investment Trust Shares

M&G is to merge the M&G Fund of Investment Trusts into the M&G Managed Growth Fund. The proposed merger will require approval from shareholders of the M&G Fund of Investments Trusts.

The M&G Managed Growth Fund will continue to be managed by Dave Fishwick who took over the fund in 2015. Fishwick, the architect of M&G’s approach to multi-asset investment, has over 30 years investment experience and heads the macro and multi asset investment team.

The M&G Managed Growth Fund invests at least 70% of its assets in other funds, typically M&G funds, to give exposure to a range of assets from anywhere in the world, including company shares, bonds, convertibles and cash. The fund may also invest directly in these assets. In aggregate, at least 70% of the fund’s assets will be invested in company shares, either directly or via other funds.

This is similar to the M&G Fund of Investment Trust Shares as they both invest mainly in other investment vehicles providing them with exposure to a range of assets and geographical markets. As a result, the underlying asset types held within their portfolios are very similar.

Where the strategies differ in approach is that the manager of M&G Fund of Investment Trust Shares selects investments based on each individual investment trust’s attractiveness, whereas the manager of the M&G Managed Growth Fund analyses economic factors before selecting which funds (or other investments) to invest in, looking at which industries are likely to generate the best returns in certain economic conditions.

Jonathan Willcocks, Global Head of Distribution, says: “We regularly review our fund range to ensure we are reflecting our customers’ preferences. The M&G Fund of Investment Trust Shares, while popular several years ago, has gained little traction with our customers in recent years. The M&G Managed Growth Fund will continue to provide these investors with exposure to a mix of assets and geographies but with a macro overlay.”

The investment process of the M&G Managed Growth Fund will remain the same and it will continue to be managed in accordance with its current investment objective and policy. In the event of a successful vote, the merger is expected to take place on 14 June 2019.

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Notes to Editors

The M&G Fund of Investment Trust Shares, managed by Richard O’Connor, has £39.27 million in assets under management as at 31 January 2019
The M&G Managed Growth Fund, managed by Dave Fishwick, has £778 million in assets under management as at 31 January 2019.

OpenAbout Dave Fishwick

David Fishwick is Head of Macro & Multi Asset Investing at M&G Investments and co-fund manager of the M&G Episode Macro Fund. Dave has more than 30 years of investment management experience, having joined Prudential Portfolio Managers (now M&G Investments) in 1987 as a European economist and subsequently being responsible for forming views on global bond and currency markets and applying them to multi-asset funds. Dave designed the strategy, philosophy and process implemented for an overlay mandate for the Prudential Life Fund in 1999. Dave has a BSc in economics from Brunel University, London.

OpenAbout M&G Investments

M&G Investments is part of M&G Prudential, a savings and investment business which was formed in August 2017 by our parent company, Prudential plc and has £321 billion of assets under management (as at 31 December 2018). M&G Prudential has over 7 million customers in the UK, Europe, Asia and the Americas including individual savers and investors, life insurance policy holders and pension scheme members.

M&G Prudential is set to demerge from Prudential Plc to become an independent company listed on the London Stock Exchange.

For nearly nine decades M&G Investments has been helping its customers to prosper by putting investments to work, which in turn creates jobs, homes and vital infrastructure in the real economy. Its investment solutions span equities, fixed income, multi asset, cash, private debt, infrastructure and real estate. M&G recognises the importance of responsible investing and is a signatory to the United Nations Principles for Responsible Investment (UNPRI) and is a member of the Climate Bonds Initiative Partners Programme. Its £30 billion property arm has a sector leading approach to responsible property management and is committed to continuously improving the sustainability performance of its funds.

For journalists only. Not for marketing purposes. Issued by M&G Securities Limited which is authorised and regulated by the Financial Conduct Authority and provides investment products. The company’s registered office is Laurence Pountney Hill, London EC4R 0HH. Registered in England No.90776.

You are about to enter the website of M&G Investments, a direct subsidiary of M&G plc.
Click here to proceed.

M&G plcの直接子会社であるM&G Investments（M&Gインベストメント）のウェブサイトにアクセスするには、
こちらをクリックしてください。

If you are looking for the affiliates of Prudential Financial, Inc., whose principal place of business is in the United States of America, click here to proceed.

アメリカ合衆国を主たる事業領域とするPrudential Financial, Inc.（プルデンシャル・ファイナンシャルInc.）の関連会社をお探しの場合は、こちらをクリックしてください。

If you are looking for the affiliates of Prudential plc, an international group incorporated in England and Wales, click here to proceed.

イングランド及びウェールズで設立された国際グループ企業であるPrudential plc（プルデンシャル・ピーエルシー）の関連会社をお探しの場合は、こちらをクリックしてください。

M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.

M&G plc は、イングランド及びウェールズで設立・登録。本社登録地は10 Fenchurch Avenue, London EC3M 5AG。登録番号11444019。M&G plcは持ち株会社で、その子会社の一部はPRA（健全性監督機構）及びFCA（金融行為規制機構）に認可され、それらの規制対象となっています。

M&G plc は、イングランドを登録地、及び主たる事業領域とする会社で、その関連会社は有数の貯蓄・投資機関として基盤を確立しています。M&G plcは、Prudential Assurance Company Limited（プルデンシャル・アシュアランス・カンパニー・リミテッド）の直接親会社です。なお、Prudential Assurance Company Limitedは、アメリカ合衆国を主たる事業領域とするPrudential Financial, Inc.（プルデンシャル・ファイナンシャルInc.）またはイングランド及びウェールズで設立された国際グループ企業であるPrudential plc（プルデンシャル・ピーエルシー）とは一切関係がありません。