M&G (Lux) North American Dividend Fund

Fund Summary

  • ISIN:
    LU1670627253
  • YTD Performance (%):
    -4.64
  • 2013 Performance (%):
    31.34
  • Fund Manager:
    John Weavers
  • Share type:
    Acc
  • Morningstar Rating™:
    3 Star Rating
  • Morningstar Analyst Rating:
    N/A

Ratings as at 31/12/2019 and should not be taken as a recommendation. Rating is at share class level.

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;
- an income distribution that increases every year in USD terms.

Investment policy and strategy

Core investment: At least 80% of the fund is invested in the shares of companies, across any sector and of any size, that are based, or do most of their business, in the US and Canada. The fund is concentrated and usually holds shares in fewer than 50 companies.

Other investments: The fund may invest in the shares of non-US and non-Canadian companies, other funds (including funds managed by M&G) and cash or assets that can be turned into cash quickly.

Derivatives: The fund may use derivatives to reduce the risks and costs of managing the fund.

Strategy in brief: The investment manager focuses on companies with the potential to grow their dividends over the long term and selects stocks with different sources of dividend growth to build a fund that has the potential to cope in a variety of market conditions.

Benchmark: S&P 500 Net Total Return Index

The benchmark is a comparator against which the fund’s performance can be measured. It is a net return index which includes dividends after the deduction of withholding taxes. The index has been chosen as the fund’s benchmark as it best reflects the scope of the fund’s investment policy. The benchmark is used solely to measure the fund’s performance and does not constrain the fund's portfolio construction.

The fund is actively managed.The investment manager has complete freedom in choosing which investments to buy, hold and sell in the fund. The fund’s holdings may deviate significantly from the benchmark’s constituents.

For unhedged and currency hedged share classes, the benchmark is shown in the share class currency.

You can find more information about the objective and investment policy of the fund in the Prospectus.

Risk indicator

Risk level 6

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 fund holds a small number of investments, and therefore a fall in the value of a single investment may have a greater impact than if it held a larger number of investments.

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.


The performance webpage for this fund is currently being reconfigured. In the interim, for performance information, please refer to the latest Fund Factsheet which can be found in the Literature section.

Fund Team

John Weavers

John Weavers - Fund manager

John Weavers joined M&G as a graduate in 2007 and worked as an analyst in the Equity Research team before joining the Income team in January 2012. He is manager and deputy manager of various equity income strategies. John graduated from Oxford University with an honours degree in Politics, Philosophy and Economics and is a CFA charterholder.

 Team member biography
Stuart Rhodes

Stuart Rhodes - Deputy Manager

Stuart Rhodes joined M&G in 2004 as a global equity analyst after graduating from Bath University with a degree in business administration. Stuart has been the manager of the M&G Global Dividend strategy since it was launched in July 2008. In April 2015 he was appointed deputy manager of the M&G North American Dividend strategy and in January 2019 of the M&G Global Themes strategy. Stuart is a CFA charterholder.

 Team member biography
Kotaro Miyata

Kotaro Miyata - Investment specialist

Kotaro Miyata is the investment specialist providing support for M&G's equity income fund range which includes the M&G Global Dividend Fund, as well as the M&G Global Listed Infrastructure Fund and the M&G (Lux) Global Listed Infrastructure Fund, which were launched in October 2017. Prior to joining M&G in 2006, he was a fund manager at Invesco Asset Management, where he was responsible for European and UK equities within the Global Equities team. Kotaro holds the Securities Institute Diploma and graduated from Oxford University in 1994 with a degree in classics.

 Team member biography

Ratings

Rating is at a share class level

3 Star Rating

Ratings as at 30/06/2020. 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.