M&G Investments

M&G (Lux) North American Value Fund

Share Class

ISIN
LU1797808448

Price (23.08.2019)
9.38

% Price Change
0.13

Objective and investment policy

Objective

The fund aims to provide a combination of capital growth and income to deliver a return that is higher than that of the US stockmarket over any five-year period.

Investment policy and strategy

Core investment: At least 80% of the fund is invested in a value-style portfolio of shares in companies across any sector and of any size that are domiciled, or conducting the major part of their economic activity, in the US and Canada.

Other investment: The fund may also hold cash or assets that can be turned quickly into cash.

Strategy in brief: The fund employs a ‘value strategy’, that is, investing in cheap, out-of-favour companies whose share price, in the manager’s view, does not reflect the underlying value of the business. Stocks are selected on the basis of their individual merits, through a combination of value-focused screening and qualitative assessment.

Performance comparator: The fund is actively managed. The S&P 500 Index is a point of reference against which the performance of the fund may be measured.

Risk indicator

Risks associated with the fund

The value and income from the fund's assets will go down as well as up. This will cause the value of your investment to fall as well as rise. There is no guarantee that the fund will achieve its objective and you may get back less than you originally invested.

The fund can be exposed to different currencies. Movements in currency exchange rates may adversely affect the value of your investment.

The hedging process seeks to minimise, but cannot eliminate, the effect of movements in exchange rates on the performance of the hedged share class. Hedging also limits the ability to gain from favourable movements in exchange rates.

In exceptional circumstances where assets cannot be fairly valued, or have to be sold at a large discount to raise cash, we may temporarily suspend the fund in the best interest of all investors.

The fund could lose money if a counterparty with which it does business becomes unwilling or unable to repay money owed to the fund.

Further details of the risks that apply to the fund can be found in the fund's Prospectus.

Other information

The fund invests mainly in company shares and is therefore likely to experience larger price fluctuations than funds that invest in bonds and/or cash.

Fund Team

Daniel White - Fund manager

Daniel White has been fund manager of the M&G (Lux) North American Value Fund since launch, and became co-fund manager of the M&G (Lux) Global Recovery Fund in July 2019. On the same date, Daniel became deputy fund manager of the M&G (Lux) Pan European Dividend Fund. He has been deputy fund manager of the M&G (Lux) European Strategic Value Fund since launch. Daniel initially joined M&G in 2005 as a sector analyst and has worked closely with Richard Halle since 2008. Daniel previously worked at Deloitte & Touche as an accountant after graduating from the University of Southampton with a BSc in oceanography in 2001. He qualified as a chartered accountant in 2005 and is a CFA charterholder.

Team member biography

Richard Halle - Deputy Manager

Richard Halle has been the fund manager of the M&G (Lux) European Strategic Value Fund since launch and was the fund manager on the equivalent UK-authorised OEIC from 2008 to 2018. Richard was appointed fund manager of the M&G (Lux) Pan European Dividend Fund and co-fund manager of the M&G (Lux) Global Recovery Fund in July 2019. He has been deputy manager of the M&G (Lux) North American Value Fund since launch. Richard initially joined M&G in 1999 as a sector analyst focusing on insurance and has been managing various institutional mandates on a European value strategy since 2002. Prior to M&G, Richard worked as a security analyst for the Sedgwick Group. He graduated from the University of Natal in South Africa with a bachelor of commerce and is a CFA charterholder.

Team member biography

Sunny Romo - Investment specialist

Sunny Romo is the investment specialist covering Japanese equities and the Value range. She joined M&G in June 2018 from Insight Investment, where she looked after their institutional relationships with Japanese investors. Prior to that, Sunny spent nine years at Asset Management One as an equities trader, and later as senior relationship manager for EMEA clients. Sunny is a committee member of the Pension and Lifetime Savings Central London Group. She is fluent in English, Japanese and Mandarin Chinese. Sunny graduated from the University of Reading with a BA in International Relations and Economics. She is a CAIA charter holder and holds the Investment Management Certificate (IMC).

Team member biography

Ratings

Rating is at a share class level

Ratings as at 31/01/2019. The Morningstar Overall Rating. Copyright © 2019 Morningstar UK Limited. All Rights Reserved. The Morningstar Analyst Rating™. © 2019 Morningstar. All Rights Reserved. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Ratings should not be taken as recommendation.