M&G offers investors in High Income trust rollover options ahead of wind-up

Investors could move to JP Morgan Elect trust

M&G is offering investors in its High Income investment trust options to move to different vehicles as it prepares to wind up in March 2017, including the JP Morgan Elect trust as a closed-ended option.

The firm has offered investors in the trust, currently managed by Richard Hughes, two options - open and closed-ended - following the wind-up which was first announced in the trust's annual report in May 2016. On the open-ended side, investors can transfer to the £412m M&G Extra Income fund, which the firm says has a "high degree of overlap" with the trust and is also managed by Hughes (pictured) with Sam Ford. This will be the default option, but investors will have the option to choose Richard Woolnough's £4.2bn M&G Strategic Corporate Bond fund or the £1.3bn M&G Dividend fund, run ...