M&G to rename £2.1bn Global Basics fund and widen investment universe

More focus on global equities

Laura Dew
clock • 2 min read

M&G has proposed to rename its £2.1bn Global Basics fund to Global Themes as it removes the restriction to invest the majority of the fund in basic industries.

Currently, the fund, which was launched back in 1973, must invest at least 70% of its portfolio in basic industries, such as mining and manufacturing.  M&G is now planning to change this, subject to shareholder approval, to allow the fund to invest at least 80% in global equities with no restriction on sector, size or geography. It also plans to amend the investment objective from long-term capital growth to total return. It will seek a higher total return than that of the MSCI All Country World Index (ACWI) over a five-year period. This will also become the fund's new benchmark in...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Alternatives

Trustpilot