Our charges vary between the funds that you can invest in, and then by the class of share you might hold. The more you invest in a fund, the lower your charges will be as a percentage of your investment.
For each fund, you will pay an ongoing charge plus a share of portfolio transaction costs.
Ongoing charges include payments made to M&G – for investment management and administration – and to providers of services independent of M&G.
Direct portfolio transaction costs
Costs incurred when investments are bought or sold by the fund, including broker execution commission, taxes, (to protect existing investors, portfolio transaction costs incurred as a result of investors buying and selling shares in the fund are recovered from those investors through an adjustment to the price they pay or receive). Direct portfolio transaction costs can appear as negative if the amount recovered through the adjustments is more than the costs paid by the fund.
Indirect portfolio transaction costs
In addition to direct portfolio costs, there are indirect portfolio transaction costs arising from the ‘portfolio dealing spread’ – the difference between the buying and selling prices of the underlying investments in the portfolio; some types of investments, such as fixed income securities, have no direct transaction costs and only the portfolio dealing spread is paid. For the M&G Property Portfolio, please note that there is no portfolio dealing spread on property assets.
Entry and Exit charges
There are no entry or exit charges on Sterling share classes in any M&G funds.
The Investment Association (IA) has produced an independent guide to charges and costs, which you can view on their website. Please note this will open in a new window.
In "Our funds" page, under the tab called 'Fund Charges' you will be able to view the charges for each of M&G’s funds.