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Changes to M&G European Select fund

From 1 July 2017, the M&G European Select Fund will be managed by Phil Cliff. Whilst this change of fund manager will not alter the fund objective and investment policy, Phil will take a different approach to stock selection.

It is expected that Phil's focus on growing dividends will drive the fund's long-term capital growth and growth in income distributions. As was the case previously, the fund will typically hold between 25 and 35 stocks, with a long-term investment view of three years or more.

Phil currently manages two M&G funds which invest in UK and European equities and has an investment philosophy that is centred around looking for companies with sustainable competitive advantages, which can also re-invest capital. M&G do not anticipate any change to the fund's current risk number of 5 (as shown on the 1 - 7 scale which can be found on the Key Investor Information Document).

These changes will take place automatically. Investors will not have to take any action.

Uploaded - 6 June 2017

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