M&G Dividend Fund

Richard Hughes

Fund manager: Richard Hughes

Products available: ISA, OEIC & Savings Plan

Fund objective

The Fund invests mainly in a range of UK equities with the aim of achieving a steadily increasing income stream. The target yield is 33% higher than that of the FTSE All Share Index but this may vary in the shorter term. Subject to this, the aim will be to maximise total return (the combination of income and growth of capital).

Policy for achieving objective

The Fund invests in a well diversified portfolio of UK stocks with a strong emphasis on income. There is a pronounced bias towards out of favour stocks.

About the fund manager

Richard Hughes joined M&G in 1986. Richard is a UK equity income fund manager having responsibility for the management of approximately £2.6bn. He is Director of Investment Trusts, with overall fund management responsibility for the four investment trust portfolios that M&G currently manages.

He previously worked for Derbyshire County Council for eight years where he was manager of its pension fund.

Richard graduated from Sheffield University with an Honours degree in Accounting and Economics. He is an associate of UKSIP.

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Issued by M&G Securities Limited and M&G Financial Services Limited which are subsidiaries of M&G Limited. M&G Limited is incorporated and registered in England. Registered Office: Laurence Pountney Hill, London, EC4R 0HH. Registered in England No. 1048359. Registered for VAT, number GB235 3237 81. Both M&G Securities Limited and M&G Financial Services Limited are authorised and regulated by the Financial Services Authority and provide ISAs and other investments. M&G Securities Limited is registered on the FSA's register, No. 122057 (http://www.fsa.gov.uk/register/). Registered Office Laurence Pountney Hill, London, EC4R 0HH. Registered in England No. 90776. M&G Financial Services Limited is registered on the FSA's register, No. 122058. Registered Office Laurence Pountney Hill, London, EC4R 0HH. Registered in England No. 923891. Both companies are registered for VAT, number GB235 3237 81.