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Audience

European equities

The M&G Global Equity team, of which the European equity fund managers are a part, is organised into small teams of highly experienced professionals with similar investment strategies, offering a broad range of global and regional mandates. They are supported by extensive resources including analysts, investment specialists, fund manager assistants, dealers and risk specialists.

Prices may fluctuate and you may not get back your original investment. The value of overseas investments may be affected by currency exchange rates.

M&G Pan European Fund



Fund managers: Greg Aldridge and Charles Anniss

The Fund invests wholly or mainly in European (including UK) companies. The Fund may also invest in companies outside Europe but only when these companies derive the majority of their income from European activity. The objective is to maximise long term total return (the combination of income and growth of capital).

The Fund is a concentrated portfolio of between 40 and 60 holdings. It seeks to capitalise on compelling investment opportunities from across the pan-European investment universe. Investors can expect a long-term, bottom-up investment approach with moderate turnover.

The fund managers adopt a bottom-up approach to stock selection, based on detailed fundamental research. Consistent with their investment philosophy, the portfolio has a growth bias. However, the managers do not define growth in the traditional sense that focuses on rapid growth in earnings or sales. Instead, their investment approach focuses on companies with scarce assets that give the businesses a competitive edge over their competitors, and thereby help them to generate sustainable returns above the cost of capital. By reinvesting in the business at attractive rates of return, the fundamental value of these companies should grow over time, thereby rewarding long-term investors.

Visit our adviser site or contact us to find out more about this fund.

M&G European Fund


Fund managers: Greg Aldridge and Charles Anniss

The Fund’s prime objective is long term capital growth. It invests wholly or predominantly in a diversified portfolio of securities of European (excluding United Kingdom) issuers. When not wholly invested as above, it may also invest in companies which are listed or registered outside Europe but trade within it. Income is of secondary importance when investments are selected.

The M&G European Fund is a concentrated portfolio of between 40 and 60 holdings. It seeks to capitalise on compelling investment opportunities from across the European investment universe.

The fund managers adopt a bottom-up approach to stock selection, based on detailed fundamental research. Consistent with their investment philosophy, the portfolio has a growth bias. However, the managers do not define growth in the traditional sense that focuses on rapid growth in earnings or sales. Instead, their investment approach focuses on companies with scarce assets that give the businesses a competitive edge over their competitors, and thereby help them to generate sustainable returns above the cost of capital. By reinvesting in the business at attractive rates of return, the fundamental value of these companies should grow over time, thereby rewarding long-term investors.

The fund managers work closely with the risk management team to ensure that the primary driver of the portfolio’s risk is stock selection. Investors can expect a long-term, bottom-up investment approach with moderate turnover.

Visit our adviser site or contact us to find out more about this fund.

M&G European Smaller Companies Fund

Fund manager: Charles Anniss

The Fund invests in smaller companies in Europe, with the sole objective of long term capital growth. It will invest wholly or mainly in securities of European companies which constitute the bottom third in terms of total market capitalisation of all publicly listed equity in Europe. When not wholly invested as above, the Fund may only invest in medium and larger capitalised companies in order to enhance the liquidity of the Fund.

The M&G European Smaller Companies Fund aims to select attractive investment opportunities from a diverse universe of smaller companies that is often less well covered and understood than a universe of larger companies.

The fund manager picks stocks on a purely bottom up basis, resulting in a concentrated portfolio of high conviction positions. Key to the investment strategy of the M&G European Smaller Companies Fund is the identification of companies with world-class scarce assets and resources that are not easily replicable. Scarce assets give such companies an edge over competitors enabling them to generate sustainable returns above the cost of capital through time. In combination with reinvesting in the business at attractive rates of return, taking advantage of external growth opportunities, the fundamental value of these companies grows over time. In the fund manager’s view, investing in such growing companies at attractive valuations rewards long-term investors.

View the latest quarterly review or contact us to find out more about this fund.

M&G European Strategic Value Fund


Fund managers: Richard Halle and Daniel White

The Fund aims to maximise long term total return to investors by investing predominantly in undervalued European equities.

The M&G European Strategic Value Fund is a well diversified fund that invests in companies across Europe (including the United Kingdom). The fund manager uses quantitative-driven screening to find ideas within the cheapest 25% of stocks in the European investment universe. He takes the view that overly cheap companies will see their valuations revert to average and that when the market concentrates on negative factors, a company’s share price will suffer unwarranted weakness.

With this in mind, the fund manager examines the financial, business and management quality of his short-listed stocks. When a company’s shares no longer appear undervalued compared with those of its peers in the same industry, the fund manager will reconsider the investment rationale for this holding with a view to sell the position. The fund manager works closely with the risk management team to ensure that the primary driver of performance is stock selection.

View the latest quarterly review or contact us to find out more about this fund.

M&G Pan European Dividend Fund

Fund manager: Phil Cliff

The Fund aims to deliver a dividend yield above the market average, by investing mainly in a range of European equities. The Fund aims to increase distributions over the long term whilst also maximising total return (the combination of income and growth of capital).

The M&G Pan European Dividend Fund is an equity fund invested in publicly listed companies across Europe (including the UK), regardless of sector or size. The fund manager focuses on generating a total return while aiming to deliver a dividend yield premium to the European average and a rising income stream over the long term.

The fund manager employs a bottom-up stockpicking approach, driven by the fundamental analysis of individual companies. The fund’s investment strategy is to identify companies that understand capital discipline, have the potential to increase dividends consistently and are undervalued by the stockmarket. Dividend yield is not the primary consideration for stock selection.

Visit our adviser site or contact us to find out more about this fund.

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