M&G (Lux) Global Recovery Fund

ISIN
LU1829296034

Price (26.06.2019)
9.42

% Price Change
0.02

Yield
N/A

Objective and investment policy

Objective

The fund aims to provide a combination of capital growth and income to deliver a return that is higher than that of the global equities market over any five-year period.

Investment policy and strategy

Core investment: At least 80% of the fund is invested in shares issued by companies across any sector and of any size that are domiciled in any country, including emerging markets. The investment manager seeks to invest in companies that are out of favour with the market or whose future prospects are not fully recognised by the market at the time of investment.

Other investment: The fund may invest in other funds, cash and assets that can be turned quickly into cash.

Use of derivatives: Derivatives may also be used to manage risks, reduce costs and to manage the impact of changes in currency exchange rates on the fund’s investments.

Strategy in brief: The fund’s focus is on companies which, at the time of investment, the investment manager believes are either out of favour with the market, or whose future prospects are undervalued by the market, but have the potential to restore themselves to health. The investment manager’s investment approach focuses on cashflows and management’s strategy for recovery within a company.

Performance comparator: The fund is actively managed. The MSCI ACWI Index is a point of reference against which the performance of the fund may be measured.

Glossary terms

Derivatives: Financial contracts whose value is derived from other assets.

Risks associated with the fund

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.

The fund can be exposed to different currencies. Movements in currency exchange rates may adversely affect the value of your investment.

Investing in emerging markets involves a greater risk of loss due to greater political, tax, economic, foreign exchange, liquidity and regulatory risks, among other factors. There may be difficulties in buying, selling, safekeeping or valuing investments in such countries.

The fund may invest in China A shares. Investments in assets from the People's Republic of China are subject to changeable political, regulatory and economic conditions, which may cause difficulties when selling or collecting income from these investments. In addition, such investment is made via the 'Stock Connects' systems, which may be more susceptible to clearing, settlement and counterparty risk. These factors could cause the fund to incur a loss.

In exceptional circumstances where assets cannot be fairly valued, or have to be sold at a large discount to raise cash, we may temporarily suspend the fund in the best interest of all investors.

The fund could lose money if a counterparty with which it does business becomes unwilling or unable to repay money owed to the fund.

Further details of the risks that apply to the fund can be found in the fund's Prospectus.

Other information

The fund invests mainly in company shares and is therefore likely to experience larger price fluctuations than funds that invest in bonds and/or cash.

Fund Team

David Williams

David Williams - Fund manager

David Williams is fund manager of the M&G Global Recovery Fund and deputy fund manager of the M&G Recovery Fund. He joined M&G in January 2004, having graduated from the University of Nottingham with a degree in economics. David worked closely with Tom Dobell as a fund managers' assistant for three years prior to becoming deputy fund manager of the M&G Recovery Fund in September 2008. He is a CFA charterholder.

 Team member biography
Randeep Somel

Randeep Somel - Deputy Manager

Randeep Somel is deputy fund manager of the M&G Global Recovery Fund. Previously, Randeep was fund manager of the M&G Global Themes Fund and the M&G Managed Growth Fund. He joined M&G in 2005 as a fund managers’ assistant on the M&G Equities team, and in August 2008, was promoted to dedicated analyst on the M&G Global Themes Fund, the M&G Managed Growth Fund and the Vanguard Precious Metals & Mining Fund. Prior to joining M&G, Randeep worked for State Street in a fund accounting role. He graduated from Birmingham University with a degree in economics in 2003. Randeep is a CFA charterholder.

 Team member biography
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