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Georgia Gibbins

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This announcement is to advise you that M&G Securities Limited will be making changes to the M&G Global Recovery Fund OEIC (a sub-fund of M&G Investment Funds (12)), effective from 6 December 2019.

 

The fund will change its investment approach and will be renamed the M&G Global Strategic Value Fund.

 

All share classes of the fund are impacted and are shown below and on the attached file. Also attached is the investment Circular detailing the changes, this has been sent to all shareholders of the fund by post today.

 

Fund & Share Class

ISIN

M&G Global Recovery Fund Euro A Accumulation

GB00BYRJNL93

M&G Global Recovery Fund Euro C Accumulation

GB00BYRJNM01

M&G Global Recovery Fund Sterling A Accumulation

GB00B3V2KY90

M&G Global Recovery Fund Sterling A Income

GB00B6QQDK47

M&G Global Recovery Fund Sterling I Accumulation

GB00B6173L33

M&G Global Recovery Fund Sterling I Income

GB00B706FQ75

M&G Global Recovery Fund Sterling R Accumulation

GB00B7MYFM53

M&G Global Recovery Fund Sterling R Income

GB00B7Q06F91

M&G Global Recovery Fund USD A Accumulation

GB00BYRJNN18

M&G Global Recovery Fund USD C Accumulation

GB00BYRJNP32

 

Key Headlines are:

  • The fund will be renamed the M&G Global Strategic Value Fund.
  • The fund’s Investment approach will be revised but the objective and investment policy will not change.
  • The funds Risk Rating is not expected to change as a result of these changes.

 

If you have any query concerning this matter please contact M&G Securities Limited on 0800 390 390 or at info@mandg.co.uk.

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Please click here for a full list of Fund Group Christmas and New Year VP changes.
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This notification is to advise you that termination prices issued for the closure of the M&G European High Yield Bond Fund on 30 November 2019 were incorrect. These incorrect prices were used to price redemption trades on 30 November 2019 and were shown on deal confirmations on Distributor Online Daily Dealing reports produced on the evening of 30 November 2019.     

      

Please do not use these prices in pricing any trades from 30 November or input them on your systems, instead please use the revised correct prices which are attached.     

      

Please note the following key points;     

      

  • Prices made on 30 November 2019 for the closing share classes of the M&G European High Yield Bond Fund have been overstated by approximately 17%.     
  • Cash considerations reported for redemption trades in the fund at close of business on 30 November 2019 were therefore overstated by approximately 17%.     
  • These trades are being reworked today (02/12/2019) and revised prices and cash considerations will be shown on Distributor Online Daily Dealing reports by close of business today. Paper contract notes will be issued tomorrow and will show correct trade details.     
  • To accommodate the trade corrections new confirmations/contract notes will show the correct prices, cash and units but will be dated 02/12/2019 at 14:00.     
  • Settlements based on the revised correct prices will still occur on T+3 which is 4 December 2019. Any settlements for these trades which would usually be made via Calastone or CREST will be processed outside of these portals and directly paid to relevant bank accounts.     

      

Please accept our apologies for any inconvenience this situation has caused. The error was a result of some misappropriated currency valuations on underlying assets. Additional controls have been introduced by M&G to ensure this does not happen in future.       

Should you have any queries on this communication please see the contact details for M&G Charities by clicking here.

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Further to the recent mailing to notify unitholders of the upcoming conversion of T shareclass unitholdings into the S shareclasses, please be advised that instructions to repurchase units in the T Shareclasses can be accepted up to 12:00 on 13/12/19. Straight Through Processing for the T shareclasses will be unavailable after this time.

Instructions to subscribe, top-up or repurchase cash amounts in the T shareclasses can be accepted up to 12:00 on 12/12/2019.

All unitholdings in the T shareclasses as at 12:00 13/12/19 will be converted into the corresponding S shareclasses as detailed in the below table.  The conversion will take place in the VP for value date 16/12/19. The T shareclasses will be closed following the VP on 16/12/19.

Please refer any  queries related to this event to the SS&C Distributor Client Services Team, our contact details can be found by clicking here.




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