M&G: Managerwechsel beim American Fund

M&G Investments (“M&G”) is writing to shareholders of the M&G American Fund to propose the adoption of a dividend growth investment strategy.The proposed investment strategy is already applied across M&G’s equity income fund range, with fund managers seeking to invest in companies which can achieve long-term dividend growth.

The change to investment objective and policy of the fund requires a fund shareholder vote and for at least 75% of votes to be cast in favour. The results of the vote will be announced at an EGM on the 13th March 2015.

M&G is also proposing to change the name of the fund to the M&G North American Dividend Fund, which it believes will more clearly reflect the fund’s geographic scope and investment approach.

Charges will be taken from the fund’s capital rather than its income in order to increase the amount of distributable income. The frequency of the fund’s distribution payments will increase from yearly to quarterly, in line with the dividend payment schedule of US companies. The fund manager will aim to grow fund distributions over the long term.

In the event of a successful vote, M&G will take the opportunity to appoint a new manager to the fund. Aled Smith will hand over the running of the fund to John Weavers, who has been part of M&G’s equity team since joining the firm in 2007.

The appointment also reflects M&G’s commitment to nurture home-grown talent. John has worked with the team running M&G’s equity income funds since January 2012.

Only the change to investment objective and policy requires shareholder approval. If approved, all changes will be effective on the 28th April 2015, with the exception of the change of distribution frequency, which will be effective on the 31st August 2015.

M&G’s equity income fund range includes the M&G Global Dividend Fund, managed by Stuart Rhodes, the M&G Pan European Dividend Fund and the M&G Dividend Fund, both managed by Phil Cliff.

Die Mitteilung im pdf-Dokument

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