29th October 2015 - M&G Investments has announced that it is changing the name of five of its equity funds. Four of the funds will have the word 'Select' added to their titles, to better reflect their invest process, whereby the portfolios may be invested in a concentrated number of stocks at any time. The investment process remains unchanged.
A fifth fund, M&G International Specialist Equity, will also be renamed M&G Global Recovery. Again, this change is being made to better reflect the investment process of the fund, which invests in struggling companies with the potential to restore themselves to health, applying M&G's recovery investing philosophy. The use of the world 'Global' will also bring the fund more into line with the rest of M&G's global equity fund range.
Investors in these funds do not need to take any action, but should be aware that the funds will be shown under the new name on documentation and on the Chelsea FundStore, from 6th November 2015 onwards.
|Current name||New name|
|M&G Global Growth||M&G Global Select|
|M&G European||M&G European Select|
|M&G Pan European||M&G Pan European Select|
|M&G UK Growth||M&G UK Select|
|M&G International Specialist Equity||M&G Global Recovery|