From 25 January 2016 onwards, we have discounted the entry charge to zero on all new investments into A Shares (which carry an entry charge but no exit charge) made by individuals who come to us directly – not via a financial adviser.
As a result of this discount, M&G will no longer be accepting new investments in X Shares in The M&G ISA and The M&G Junior ISA from customers who come to us directly (X Shares carry no entry charge but have a diminishing exit charge over five years).
However, the annual management charge (AMC), which forms part of the ongoing charge, is slightly higher for X Shares than for their equivalent A Shares in the M&G Corporate Bond Fund, M&G European Corporate Bond Fund, M&G Optimal Income Fund and the M&G Strategic Corporate Bond Fund as well as in the M&G Fund of Investment Trust Shares.
As you currently own X Shares in at least one of these funds, you will pay a lower ongoing charge if you convert your existing holding(s) into equivalent A Shares, free of charge.
Converting your holdings to A Shares
Before deciding which share class is right for you, please ensure that you have read an up-to-date version of the Prospectus and Key Investor Information Documents (KIIDs) for the share class(es) in which you wish to invest.
To convert your holding into A Shares, simply follow the steps below:
If you have any questions about converting your existing investment to A Shares, please contact 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 Saturdays.
All calls are free within the UK. For your security and to improve the quality of our service we may record and monitor telephone calls. Existing customers will require their M&G client reference. Failure to provide this will affect your ability to transact with us.
Please remember that the value of investments, and the income from them, will fluctuate, which will cause fund prices to fall as well as rise and you may not get back the original amount you invested.