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Audience

Important fund objective changes

Funds with objective changes within the last ten years can be found in the table below.

 Fund  Event  Date  Previous objective
Corporate Bond Fund Objective Change 25 May 2017 The Fund aims to achieve a higher total return (the combination of income and growth of capital) from investment than would be obtainable in UK government fixed interest securities (ie gilts) of similar maturities.
Episode Income Fund Objective change and name change from M&G Income Multi Asset Fund 22 August 2012  The Fund invests in securities, fixed income assets, warrants, money market instruments, deposits and cash. Exposure to these assets, and to property, may also be gained via collective investment schemes and derivatives. The Manager may seek to minimise currency risk through a combination of diversification and hedging. Derivatives may also be used for efficient portfolio management purposes.
Episode Income Fund Objective Change 25 May 2017 The Fund’s objective is to generate a high and rising level of income over time through investment in a diversified range of assets. Subject to this, the Fund aims to provide capital growth over the long term
European Corporate Bond Fund Objective Change 25 May 2017 As a result of the Swiss National Bank removing the currency peg since the balance sheet date, 31 December 2014, the Net Asset Value per share of the Swiss franc share classes has increased by approximately 12% to 12 February 2015.
European High Yield Bond Fund Objective Change 25 May 2017 The Fund aims to maximise total return (the combination of income and growth of capital) while generating a high level of income.
Global Dividend Fund Objective Change 25 May 2017 The Fund aims to deliver a dividend yield above the market average, by investing mainly in a range of global equities. The Fund aims to grow distributions over the long term whilst also maximising total return (the combination of income and growth of capital).
Gilt & Fixed Interest Income Fund Objective Change 26 June 2017 The Fund is designed to provide a secure income with stability of capital consistent with investment in gilts over a rolling three to five year period. There is no guarantee that the Fund will achieve its objective over this, or any other, period. The income distributions and the value of your investment may rise and fall and investors may not recoup the original amount they invested.
Global Select Fund Objective change and name change from M&G Global Growth Fund (formerly M&G International Growth Fund) 19 September 2008 The Fund invests in a wide range of international equities (excluding UK) with the sole objective of capital growth. The geographical split of the portfolio will vary according to market conditions.
Global High Yield Bond Fund Objective Change 25 May 2017 The Fund is designed to maximise total return (the combination of income and growth of capital) while generating a high level of income.
Index-Linked Bond Fund Objective Change 26 June 2017 The Fund aims to secure the value of capital and income from the effects of inflation over a rolling five year period or longer with a total return consistent with investment in index-linked bonds. There is no guarantee that the Fund will achieve its objective over this, or any other, period. The income distributions and the value of your investment may rise and fall and investors may not recoup the original amount they invested.
Pan European Dividend Fund Objective Change 25 May 2017 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).
Pan European Select Smaller Companies Fund Objective and fund name change from European Smaller Companies Fund 25 May 2018 Core investment: At least 70% of the fund is invested in the shares of companies that make up the bottom third of all publicly listed firms in Europe, in terms of their stockmarket value.
Other investments: The fund also invests in medium and larger companies to enhance its liquidity (its ability to raise cash quickly).
Strategy in brief: The fund manager invests in the shares of companies deemed to be of quality and with sustainable business models, where an element of change is helping to drive their value, and short-term issues have created attractive buying opportunities. The fund manager keeps the fund concentrated, generally holding fewer than 50 well-understood stocks, with a typical holding period of three to five years. The fund may invest across a wide range of industries. The fund manager maintains a balance of stocks with different risks and rewards to build a fund that has the potential to cope in a variety of market conditions. Income is not a top priority when choosing investments.
Recovery Fund Objective Change 28 November 2005 The Fund primarily invests in a diversified range of companies which are out of favour, in difficulty or whose future prospects are not fully recognised by the market. The sole aim of the Fund is capital growth. There is no particular income yield target.
Strategic Corporate Bond Fund Objective change.

Note - Since 31 August 2009 a standalone OEIC (formerly part of Investment Funds (1))
31 August 2009 The Fund aims to maximise total return (the combination of income and growth of capital) through investment predominantly in investment grade corporate bonds, but may invest in other debt instruments, including higher yielding corporate bonds, government debt and convertible and preference stocks, as well as money market instruments and equities.

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