Please note that, following a positive Shareholder vote at an Extraordinary Meeting of Shareholders held on Thursday 9 May 2019, effective on Friday 14 June 2019, the fund’s investment objective and policy will change to the following:
The Fund aims to deliver a total return (the combination of capital growth and income) of at least 4-8% per annum above the 3-month LIBOR over any five-year period, after charges are taken.
There is no guarantee that the Fund will achieve a positive return over five years, or any other period, and investors may not get back the original amount they invested.
The Fund typically uses derivatives to gain exposure to a range of asset classes including equities, fixed income securities, convertibles and currencies, from anywhere in the world.
Exposure to these assets may also be gained directly, or indirectly via collective investment schemes (including funds managed by M&G). In addition, the Fund may invest in cash and near cash.
The Fund may use derivatives to operate with net long or net short exposure to any position or asset class, and at the overall fund level. Consequently, the Fund can have net asset exposure in excess of the total net assets of the Fund.
Derivatives may be used for investment, portfolio management and hedging purposes.