Below you will find the latest updates on the M&G Property Portfolio and M&G Feeder of Property Portfolio, followed by the most recent prices for these funds.
6 September 2016 - M&G Property Portfolio asset sales post Brexit
31 August 2016: M&G reduces the fair value adjustment to the M&G Property Portfolio
25 August 2016: Continuation of temporary suspension of M&G Property Portfolio
4 August 2016: M&G Property Portfolio asset sales post Brexit
2 August 2016: Continuation of temporary suspension of M&G Property Portfolio
8 July 2016: A message from William Nott, Chief Executive of M&G Securities
5 July 2016: M&G suspends trading in M&G Property Portfolio amid Brexit uncertainty
1 July 2016: M&G applies a fair value adjustment to the M&G Property Portfolio
30 June 2016: Property valuation moves from monthly to weekly
Our funds are valued each business day. The daily prices for our property funds are available here from approximately 9pm each business day.
Important information about fund pricing
Please note that the pricing of the M&G Property Portfolio and M&G Feeder of Property Portfolio swung from creation pricing to cancellation pricing on Tuesday 7 June 2016.
Sterling class R Shares are for advised clients only.
We sometimes use data from third party suppliers, who may interpret data differently to M&G. When comparing information on these pages, you should be aware that this can occasionally lead to inconsistencies between third party and M&G data.
M&G Property Portfolio
Each day we value the assets of the M&G Property Portfolio on both an ‘offer’ basis (how much they would cost to buy) and a ‘bid’ basis (how much the fund would receive if they were sold). The difference between the two, known as the ‘spread’, is currently 6.16% (as at 22.09.16) of the ‘offer’ basis valuation. This reflects the costs of buying and selling properties, in particular Stamp Duty Land Tax paid on purchases which can account for up to 5% of the property value. The dealing prices we publish are on either the offer basis or bid basis, depending on whether people are generally buying fund shares (the fund is in ‘net inflow’) or selling shares (the fund is in ‘net outflow’). Should fund flows move from net inflow to net outflow, the dealing prices may ‘swing’ from an offer basis to a bid basis and fall by the extent of the spread. On the other hand, should flows move from net outflow to net inflow, the dealing prices may rise by a slightly greater percentage, the spread being based in this case on the lower ‘bid’ basis valuation. For large deals (regarded as deals in excess of £50,000) the dealing price you receive may be different from the published price. If you are buying shares, you may receive a price that is higher than the quoted offer price. If you are selling shares, you may receive a price that is lower than the quoted bid price.
M&G Feeder of Property Portfolio
Investors should note that the dealing prices of the M&G Property Portfolio, in which the M&G Feeder of Property Portfolio is invested, may ‘swing’ to the extent of the ‘spread’ reflecting the costs of buying and selling properties, currently 6.16% (as at 22.09.16) of the ‘offer’ basis valuation. Please see the fund page of the M&G Property Portfolio for details.
For more information about the pricing of the M&G Property Portfolio and the M&G Feeder of Property Portfolio please see the relevant Prospectus, available on our literature download pages link to or from our Customer Relations team on 0800 390 390. We are open from 8.00am to 6.00pm Monday to Friday and from 9.00am to 1.00pm on Saturday. For security and to improve the quality of our service we may record and monitor telephone calls.
The value of investments will fluctuate, which will cause fund prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.
Source: Morningstar. Performance figures are on a price to price basis with net income reinvested. Performance figures may not reflect all relevant charges. Neither Morningstar nor its Information Providers can guarantee the accuracy, completeness, timeliness, or correct sequencing of any of the Information on the Web site, including, but not limited to Information originated by Morningstar, licensed by Morningstar from Information Providers, or gathered by Morningstar from publicly available sources. There may be delays, omissions, or inaccuracies in the Information.
Below are the most recent prices for M&G Property Portfolio and M&G Feeder of Property Portfolio. However, as these funds are temporarily suspended, no deals have been executed at these prices.