PRODUCT KEY FACTS M&G Investment Funds (1) M&G North American Dividend Fund Issuer: M&G Securities Limited 26 February 2016 This statement provides you with key information about M&G North American Dividend Fund (the Sub-Fund ). This statement is a part of the Summary Prospectus. You should not invest in the Sub-Fund based on this statement alone. Quick facts Management Company (Authorised Corporate Director ( ACD )): M&G Securities Limited Investment Manager: M&G Investment Management Limited (internal delegation, in the United Kingdom) Depositary: Custodian: National Westminster Bank plc State Street Bank and Trust Company Ongoing Charges over a year : 1.66% Dealing Frequency: Base Currency: Dividend Policy: Financial Year End of this Sub-Fund: Daily (Monday to Friday except for bank holidays in England and Wales and Hong Kong and any other days as agreed from time to time by the ACD and its Authorised Distributors.) Pounds Sterling Dividends (or income) will be reinvested in the Sub- Fund. 31 August Minimum Investment: Share Class Initial Additional What is this product? Euro Class A Net Accumulation Shares EUR 1,000 EUR 75 U.S. Dollar Class A Net Accumulation Shares USD 1,000 USD 75 M&G North American Dividend Fund is a sub-fund of M&G Investment Funds (1) which is an open-ended investment company with variable capital incorporated in England and Wales. M&G Investment Funds (1) has been established as an umbrella company. Its home regulator is the Financial Conduct Authority, United Kingdom. The ongoing charges figure is based on expenses reported in the Sub-Fund s financial statements for the year ended 31 August 2015, expressed as a percentage of the Sub-Fund s average net asset value over the same period This figure may vary from year to year. As Euro Class A Net Accumulation and U.S. Dollar Class A Net Accumulation Shares have identical fee structures and their ongoing charges figure is the same, the Management Company considers it appropriate that a single ongoing charges figure be set out.
Objectives and Investment Strategy The Sub-Fund aims to maximise total return (the combination of capital growth and income) whilst aiming to grow distributions over the long term. The Sub-Fund will invest mainly in North American equities and may invest across all sectors and market capitalisations. The Sub-Fund may also invest in transferable securities issued by companies which are listed, registered or trading within North America and in collective investment schemes. Cash and near cash may be held for ancillary purposes and derivatives, including warrants, may be used for efficient portfolio management and hedging purposes The Sub-Fund may use financial derivative instruments (including options, futures and contracts for differences) for efficient portfolio management and hedging purposes. The Sub-Fund will not invest extensively or primarily in financial derivative instruments to achieve the Sub-Fund s investment objective or for investment purposes (i.e. there is only limited/ancillary use of financial derivative instruments for investment purposes). What are the key risks? Investment involves risks. Please refer to the Summary Prospectus for details including the risk factors. 1. Equity Investment Risk The Sub-Fund invests in equities, which are subject to normal market fluctuations and other risks inherent in investing in equities. You should not make investment decisions based on past performance of the Sub-Fund or any particular market, as past performance is not a guide to future performance. There can be no assurance that any appreciation in value of the Sub-Fund s investments will occur, and you may not get back your original investment. 2. Single Region Risk The Sub-Fund invests in a single region, namely North America, and therefore carries a higher concentration than a diversified fund. The concentration of the Sub-Fund s investments may result in greater volatility than funds which comprise broad-based global investments. 3. Concentrated Portfolio Risk Where a Sub-Fund holds a relatively small number of investments, it may as a result be more volatile and can be influenced materially by a small number of large holdings. 4. Liquidity Risk The Sub-Fund s investments may be subject to liquidity constraints which means that securities and other instruments may trade infrequently and in small volumes. Normally liquid securities may also be subject to periods of significantly lower liquidity in difficult market conditions. As a result, changes in the value of investments may be more unpredictable and in certain cases, it may be difficult to deal in a security at the last market price quoted or at a value considered to be fair. 5. Currency and Exchange Rates Risk As equities are generally bought and sold in the local currency of the country in which they are listed, the Sub-Fund will hold investments denominated in currencies different from the Sub-Fund s base currency and the currency of each Share Class. The Sub-Fund is therefore exposed to the risk of adverse movements in foreign currency exchange rates. 6. Derivatives Risk Although the Sub-Fund will use financial derivative instruments for efficient portfolio management or hedging purposes only, i.e. to reduce risk, in adverse market situations, the Sub-Fund s use of derivatives may become ineffective in efficient portfolio management and/or hedging and the Sub-Fund may suffer significant losses.
How has the Sub-Fund performed? Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-To-NAV, with dividend reinvested. These figures show by how much the U.S. Dollar Class A Net Accumulation Share increased or decreased in value during the calendar year being shown. Performance data has been calculated in U.S, Dollar including ongoing charges and excluding subscription fee and redemption fee you might have to pay. Where no past performance is shown there was insufficient data available in that year to provide performance. The Sub-Fund launch date: 1972 U.S. Dollar Class A Net Accumulation Share class launch date: 2007. U.S. Dollar Class A Net Accumulation Share class has been selected as the representative share class because the majority of investors are subscribing into this share class. As such, it is the Management Company s view that past performance information of this share class should be utilized. The objective of the Fund was changed with effect from 28 April 2015 from one focused on long term capital growth to one aiming to maximise total return through a combination of capital growth and income.
Is there any guarantee? This Sub-Fund does not have any guarantees. You may not get back the full amount of money you invest. What are the fees and charges? Charges which may be payable by you You may have to pay the following fees when dealing in the shares of the Sub-Fund. Fee Subscription fee Switching fee Redemption fee What you pay Up to 5.25% of the amount you invest* Nil (You should note that the ACD has discretion to charge a switching fee on a case by case basis) Nil Ongoing fees payable by the Sub-Fund The following expenses will be paid out of the Sub-Fund. They affect you because they reduce the return you get on your investments. Annual rate (as a % of the Sub-Fund s value) Management fee (ACD s annual remuneration (see Note)) 1.5%* Custodian fee 0.001% 0.75%* Performance fee N/A Administration and registration services fee 0.15%* Note: The appointment of the ACD is a regulatory requirement in the United Kingdom. The ACD is responsible for managing and administering the M&G Investment Funds (1) affairs in compliance with the applicable regulations in the UK. Other fees You may have to pay other fees when dealing in the shares of the Sub-Fund. * You should note that some fees may be increased by giving affected shareholders and Hong Kong Investors at least one month s prior notice. Additional Information You generally buy and redeem Shares at the Sub-Fund s next-determined net asset value (NAV) after an Authorised Distributor receives your request in good order prior to 11.30 am (Central European time) being the dealing cut-off time on any dealing day. However, before placing your subscription or redemption orders, please check with your distributor for the distributor s internal dealing cut-off time (which may be earlier than the Sub-Fund s dealing cut-off time). Investors may obtain past information of other share classes offered to Hong Kong investors from http://www.mandg.com/hong-kong/^ The net asset value of this Sub-Fund is calculated and the price of units published daily in The Standard and the Hong Kong Economic Times. Important If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. ^ This website has not been reviewed by the SFC.
PRODUCT KEY FACTS M&G Investment Funds (1) M&G Pan European Select Fund Issuer: M&G Securities Limited 26 February 2016 This statement provides you with key information about M&G Pan European Select Fund (the Sub-Fund ). This statement is a part of the Summary Prospectus. You should not invest in the Sub-Fund based on this statement alone. Quick facts Management Company (Authorised Corporate Director ( ACD )): Investment Manager: Depositary: Custodian: M&G Securities Limited M&G Investm ent Managem ent Lim ited (internal delegation, in the United Kingdom) National Westminster Bank plc State Street Bank and Trust Company Ongoing charges over a year : 1.68% Dealing Frequency: Base Currency: Daily (Monday to Friday except for bank holidays in England and Wales and Hong Kong and any other days as agreed from time to time by the ACD and its Authorised Distributors.) Pounds Sterling Dividend Policy: Financial Year End of this Sub-Fund: Dividends (or income) will be reinvested in the Sub- Fund. 31 August Minimum Investment: Share Class Initial Additional What is this product? Euro Class A Net Accumulation Shares EUR 1,000 EUR 75 M&G Pan European Select Fund is a sub-fund of M&G Investment Funds (1) which is an open- ended investment company with variable capital incorporated in England and Wales. M&G Investment Funds (1) has been established as an umbrella company. Its home regulator is the Financial Conduct Authority, United Kingdom. The ongoing charges figure is based on expenses reported in the Sub-Fund s financial statements for the year ended 31 August 2015, expressed as a percentage of the Sub-Fund s average net asset value over the same period. This figure may vary from year to year.
Objectives and Investment Strategy The Sub-Fund invests wholly or mainly in European (including UK) companies. The Sub-Fund may also invest in companies outside Europe but only when these companies derive the majority of their income from European activity. The objective is to maximise long term total return (the combination of income and growth of capital). The Fund may at any time be concentrated in a limited number of securities. The Sub-Fund may use financial derivative instruments (including options, futures and contracts for differences) for efficient portfolio management and hedging purposes. The Sub-Fund will not invest extensively or primarily in financial derivative instruments to achieve the Sub -Fund s investment objective or for investment purposes (i.e. there is only limited/ancillary use of financial derivative instruments for investment purposes). What are the key risks? Investment involves risks. Please refer to the Summary Prospectus for details including the risk factors. 1. Equity Investment Risk The Sub-Fund invests in equities, which are subject to normal market fluctuations and other risks inherent in investing in equities. You should not make investment decisions based on past performance of the Sub-Fund or any particular market, as past performance is not a guide to future performance. There can be no assurance that any appreciation in value of the Sub-Fund s investments will occur, and you may not get back your original investment. 2. Concentrated Portfolio Risk Where a Sub-Fund holds a relatively small number of investments, it may as a result be more volatile and can be influenced materially by a small number of large holdings. 3. Single Region Risk The Sub-Fund invests in a single region, namely Europe, and therefore carries a higher concentration than a diversified fund. The concentration of the Sub-Fund s investments may result in greater volatility than funds which comprise broad-based global investments. 4. Risks relating to uncertainties facing the Eurozone There is a risk that one or more countries will exit the Euro and re-establish their own currencies. In light this uncertainty or in the event that this does occur, there is an increased risk of volatility in asset values, liquidity and default risk. In addition, there is a possibility that economic and financial difficulties in Europe may worsen or spread within and outside Europe and that measures taken by the governments of European countries, central banks and other authorities to address these, such as austerity measures and reforms, may not work. The impact of the above events may be significant and may adversely affect the value of the Sub-fund. Disruption in Eurozone markets could give rise to difficulties in valuing the assets of the Sub-Fund. In the event that it is not possible to carry out an accurate valuation of the Sub- Fund, dealing may be temporarily suspended. 5. Liquidity Risk The Sub-Fund s investments may be subject to liquidity constraints which means that securities and other instruments may trade infrequently and in small volumes. Normally liquid securities may also be subject to periods of significantly lower liquidity in difficult market conditions. As a result, changes in the value of investments may be more unpredictable and in certain cases, it may be difficult to deal in a security at th e last market price quoted or at a value considered to be fair.
6. Currency and Exchange Rates Risk As equities are generally bought and sold in the local currency of the country in which they are listed, the Sub-Fund will hold investments denominated in currencies different from the Sub-Fund s base currency and the currency of each Share Class. The Sub-Fund is therefore exposed to the risk of adverse movements in foreign currency exchange rates. 7. Derivatives Risk Although the Sub-Fund will use financial derivative instruments for efficient portfolio management or hedging purposes only, i.e. to reduce risk, in adverse market situations, the Sub-Fund s use of derivatives may become ineffective in efficient portfolio management and/or hedging and the Sub-Fund may suffer significant losses. How has the Sub-Fund performed? Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-To- NAV, with dividend reinvested. These figures show by how much the Euro Class A Net Accumulation Share class increased or decreased in value during the calendar year being shown. Performance data has been calculated in Euro including ongoing charges and excluding subscription fee and redemption fee you might have to pay. The Sub-Fund launch date: 1989 Euro Class A Net Accumulation Share class launch date: 2001 Is there any guarantee? This Sub-Fund does not have any guarantees. You may not get back the full amount of money you invest.
What are the fees and charges? Charges which may be payable by you You may have to pay the following fees when dealing in the shares of the Sub-Fund. Fee Subscription fee Switching fee What you pay Up to 5.25% of the amount you invest* Nil (You should note that the ACD has discretion to charge a switching fee on a case by case basis) Redemption fee Nil Ongoing fees payable by the Sub-Fund The following expenses will be paid out of the Sub-Fund. They affect you because they reduce the return you get on your investments. Annual rate (as a % of the Sub-Fund s value) Management fee (ACD s annual remuneration (see Note)) 1.5%* Custodian fee 0.001% 0.75%* Performance fee N/A Administration and registration services fee 0.15%* Note: The appointment of the ACD is a regulatory requirement in the United Kingdom. The ACD is responsible for managing and administering the M&G Investment Funds (1) affairs in compliance with the applicable regulations in the UK. Other fees You may have to pay other fees when dealing in the shares of the Sub-Fund. * You should note that some fees may be increased by giving affected shareholders and Hong Kong Investors at least one month s prior notice Additional Information You generally buy and redeem Shares at the Sub-Fund s next-determined net asset value (NAV) after an Authorised Distributor receives your request in good order prior to 11.30 am (Central European time) being the dealing cut-off time on any dealing day. However, before placing your subscription or redemption orders, please check with your distributor for the distributor s internal dealing cut-off time (which may be earlier than the Sub-Fund s dealing cut-off time). The net asset value of this Sub-Fund is calculated and the price of units published daily in The Standard and the Hong Kong Economic Times. Important If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness..
PRODUCT KEY FACTS M&G Investment Funds (1) M&G Global Leaders Fund Issuer: M&G Securities Limited 26 February 2016 This statement provides you with key information about M&G Global Leaders Fund (the Sub-Fund ). This statement is a part of the Summary Prospectus. You should not invest in the Sub-Fund based on this statement alone. Quick facts Management Company (Authorised Corporate Director ( ACD )): Investment Manager: Depositary: Custodian: M&G Securities Limited M&G Investm ent Managem ent Lim ited (internal delegation, in the United Kingdom) National Westminster Bank plc State Street Bank and Trust Company Ongoing charges over a year : 1.92% Dealing Frequency: Base Currency: Dividend Policy: Financial Year End of this Sub-Fund: Dail y (Monday to Friday except for bank holidays in England and Wales and Hong Kong and any other days as agreed from time to time by the ACD and its Authorised Distributors.) Pounds Sterling Dividends (or income) will be reinvested in the Sub- Fund. 31 August Minimum Investment: Share Class Initial Additional What is this product? Euro Class A Net Accumulation Shares EUR 1,000 EUR 75 U.S. Dollar Class A Net Accumulation Shares USD 1,000 USD 75 M&G Global Leaders Fund is a sub-fund of M&G Investment Funds (1) which is an openended investment company with variable capital incorporated in England and Wales. M&G Investment Funds (1) has been established as an umbrella company. Its home regulator is the Financial Conduct Authority, United Kingdom. The ongoing charges figure is based on the expenses reported in the Sub-Fund s financial statements for the year ended 31 August 2015, expressed as a percentage of the Sub-Fund s average net asset value over the same period. This figure may vary from year to year. As Euro Class A Net Accumulation and U.S. Dollar Class A Net Accumulation Shares have identical fee structures and their ongoing charges figure is the same, the Management Company considers it appropriate that a single ongoing charges figure be set out.
Objectives and Investment Strategy The objective of the Sub-Fund is to maximise long term total return (the combination of income and growth of capital). The Sub-Fund invests in a wide range of global equities issued by companies that the fund manager considers to be, or have the potential to be, leading in their field in terms of improving shareholder value. The Sub-Fund may use financial derivative instruments (including options, futures and contracts for differences) for efficient portfolio management and hedging purposes. The Sub-Fund will not invest extensively or primarily in financial derivative instruments to achieve the Sub-Fund s investment objective or for investment purposes (i.e. there is only limited/ancillary use of financial derivative instruments for investment purposes). What are the key risks? Investment involves risks. Please refer to the Summary Prospectus for details including the risk factors. 1. Equity Investment Risk The Sub-Fund invests in equities, which are subject to normal market fluctuations and other risks inherent in investing in equities. You should not make investment decisions based on past performance of the Sub-Fund or any particular market, as past performance is not a guide to future performance. There can be no assurance that any appreciation in value of the Sub-Fund s investments will occur, and you may not get back your original investment. 2. Currency and Exchange Rates Risk As equities are generally bought and sold in the local currency of the country in which they are listed, the Sub-Fund will hold investments denominated in currencies different from the Sub-Fund s base currency and the currency of each Share Class. The Sub-Fund is therefore exposed to the risk of adverse movements in foreign currency exchange rates. 3. Liquidity Risk The Sub-Fund s investments may be subject to liquidity constraints which means that securities and other instruments may trade infrequently and in small volumes. Normally liquid securities may also be subject to periods of significantly lower liquidity in difficult market conditions. As a result, changes in the value of investments may be more unpredictable and in certain cases, it may be difficult to deal in a security at the last market price quoted or at a value considered to be fair. 4. Emerging Markets Risk The Sub-Fund invests in global equities, which may from time to time include equities in global emerging markets (such as, for example, India, Brazil and Thailand). Investing in emerging markets involves a greater risk of loss than investing in more developed markets due to, among other factors, greater political, economic, repatriation restriction, liquidity, volatility and regulatory risks. As a result, the Sub-Fund may be more volatile than a fund that invests solely in securities of companies in more developed markets. 5. Restrictions on Foreign Investment Risk Some countries prohibit or impose substantial restrictions on investments by foreign entities such as the Sub-Fund. There may also be instances where a purchase order subsequently fails because the permissible allocation to foreign investors has been filled, which may deprive the Sub-Fund of the ability to make its desired investment at the time. Any such circumstances may adversely affect the Sub-Fund s performance. 6. Derivatives Risk Although the Sub-Fund will use financial derivative instruments for efficient portfolio management or hedging purposes only, i.e. to reduce risk, in adverse market situations, the Sub-Fund s use of derivatives may become ineffective in efficient portfolio management and/or hedging and the Sub-Fund may suffer significant losses.
How has the Sub-Fund performed? Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-To- NAV, with dividend reinvested. These figures show by how much the U.S. Dollar Class A Net Accumulation Share class increased or decreased in value during the calendar year being shown. Performance data has been calculated in U. S. D o l l a r including ongoing charges and excluding subscription fee and redemption fee you might have to pay. Where no past performance is shown there was insufficient data available in that year to provide performance. The Sub-Fund launch date: 1985 U.S. Dollar Class A Net Accumulation Share class launch date: 2007 U.S. Dollar Class A Net Accumulation Share class has been selected as the representative share class because the majority of investors are subscribing into this share class. As such, it is the Management Company s view that past performance information of this share class should be utilized. Is there any guarantee? This Sub-Fund does not have any guarantees. You may not get back the full amount of money you invest.
What are the fees and charges? Charges which may be payable by you You may have to pay the following fees when dealing in the shares of the Sub-Fund. Fee Subscription fee Switching fee What you pay Up to 5.25% of the amount you invest* Nil (You should note that the ACD has discretion to charge a switching fee on a case by case basis) Redemption fee Nil Ongoing fees payable by the Sub-Fund The following expenses will be paid out of the Sub-Fund. They affect you because they reduce the return you get on your investments. Annual rate (as a % of the Sub-Fund s value) Management fee (ACD s annual remuneration (see Note)) 1.75%* Custodian fee 0.001% 0.75%* Performance fee N/A Administration and registration services fee 0.15%* Note: The appointment of the ACD is a regulatory requirement in the United Kingdom. The ACD is responsible for managing and administering the M&G Investment Funds (1) affairs in compliance with the applicable regulations in the UK. Other fees You may have to pay other fees when dealing in the shares of the Sub-Fund. * You should note that some fees may be increased by giving affected shareholders and Hong Kong Investors at least one month s prior notice. Additional Information You generally buy and redeem Shares at the Sub-Fund s next-determined net asset value (NAV) after an Authorised Distributor receives your request in good order prior to 11.30 am (Central European time) being the dealing cut-off time on any dealing day. However, before placing your subscription or redemption orders, please check with your distributor for the distributor s internal dealing cut-off time (which may be earlier than the Sub-Fund s dealing cut-off time). Investors may obtain past information of other share classes offered to Hong Kong investors from http://www.mandg.com/hong-kong/^ The net asset value of this Sub-Fund is calculated and the price of units published daily in The Standard and the Hong Kong Economic Times. Important If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. ^ This website has not been reviewed by the SFC.
PRODUCT KEY FACTS M&G Investment Funds (1) M&G Global Basics Fund Issuer: M&G Securities Limited 26 February 2016 This statement provides you with key information about M&G Global Basics Fund (the Sub-Fund ). This statement is a part of the Summary Prospectus. You should not invest in the Sub-Fund based on this statement alone. Quick facts Management Company (Authorised Corporate Director ( ACD )): Investment Manager: Depositary: Custodian: M&G Securities Limited M&G Investm ent Managem ent Lim ited (internal delegation, in the United Kingdom) National Westminster Bank plc State Street Bank and Trust Company Ongoing charges over a year # : 1.93% Dealing Frequency: Base Currency: Dividend Policy: Financial Year End of this Sub-Fund: Minimum Investment: Daily (Monday to Friday except for bank holidays in England and Wales and Hong Kong and any other days as agreed from time to time by the ACD and its Authorised Distributors.) Pounds Sterling Dividends (or income) will be reinvested in the Sub-Fund. 31 August Share Class Initial Additional Euro Class A Net Accumulation Shares EUR 1,000 EUR 75 U.S. Dollar Class A Net Accumulation Shares USD 1,000 USD 75 What is this product? M&G Global Basics Fund is a sub-fund of M&G Investment Funds (1) which is an open- ended investment company with variable capital incorporated in England and Wales. M&G Investment Funds (1) has been established as an umbrella company. Its home regulator is the Financial Conduct Authority, United Kingdom. # The ongoing charges figure is based on expenses reported in the Sub-Fund s financial statements for the year ended 31 August 2015 expressed as a percentage of the Sub-Fund s average net asset value over the same period. This figure may vary from year to year. As Euro Class A Net Accumulation and U.S. Dollar Class A Net Accumulation Shares have identical fee structures and their ongoing charges figure is the same, the Management Company considers it appropriate that a single ongoing charges figure be set out.
Objectives and Investment Strategy The Sub-Fund is a global equity fund which invests wholly or mainly in companies operating in basic industries ( primary and secondary industries) and also in companies that service these industries. The Sub-Fund may also invest in other global equities. The sole aim of the Sub -Fund is long term capital growth. The Sub-Fund may use financial derivative instruments (including options, futures and contracts for differences) for efficient portfolio management and hedging purposes. The Sub -Fund will not invest extensively or primarily in financial derivative instruments to achieve the Sub-Fund s investment objective or for investment purposes (i.e. there is only limited/ancillary use of financial derivative instruments for investment purposes) What are the key risks? Investment involves risks. Please refer to the Summary Prospectus for details including the risk factors. 1. Equity Investment Risk The Sub-Fund invests in equities, which are subject to normal market fluctuations and other risks inherent in investing in equities. You should not make investment decisions based on past performance of the Sub-Fund or any particular market, as past performance is not a guide to future performance. There can be no assurance that any appreciation in value of the Sub-Fund s investments will occur, and you may not get back your original investment. 2. Currency and Exchange Rates Risk As equities are generally bought and sold in the local currency of the country in which they are listed, the Sub-Fund will hold investments denominated in currencies different from the Sub-Fund s base currency and the currency of each Share Class. The Sub-Fund is therefore exposed to the risk of adverse movements in foreign currency exchange rates. 3. Emerging Markets Risk The Sub-Fund invests in global equities, which may from time to time include equities in global emerging markets (such as, for example, Russia, Bermuda and Brazil). Investing in emerging markets involves a greater risk of loss than investing in more developed markets due to, among other factors, greater political, economic, repatriation restriction, liquidity, volatility and regulatory risks. As a result, the Sub-Fund may be more volatile than a fund that invests solely in securities of companies in more developed markets. 4. Risks relating to uncertainties facing the Eurozone There is a risk that one or more countries will exit the Euro and re-establish their own currencies. In light this uncertainty or in the event that this does occur, there is an increased risk of volatility in asset values, liquidity and default risk. In addition, there is a possibility that economic and financial difficulties in Europe may worsen or spread within and outside Europe and that measures taken by the governments of European countries, central banks and other authorities to address these, such as austerity measures and reforms, may not work. The impact of the above events may be significant and may adversely affect the value of the Sub-Fund. Disruption in Eurozone markets could give rise to difficulties in valuing the assets of the Sub-Fund. In the event that it is not possible to carry out an accurate valuation of the Sub- Fund, dealing may be temporarily suspended. 5. Liquidity Risk The Sub-Fund s investments may be subject to liquidity constraints which means that securities and other instruments may trade infrequently and in small volumes. Normally liquid securities may also be subject to periods of significantly lower liquidity in difficult market conditions. As a result, changes in the value of investments may be more unpredictable and in certain cases, it may be difficult to deal in a security at the last market price quoted or at a value considered to be fair. 6. Restrictions on Foreign Investment Risk Some countries prohibit or impose substantial restrictions on investments by foreign entities such as the Sub-Fund. There may also be instances where a purchase order subsequently fails because the permissible allocation to foreign investors has been filled, which may
deprive the Sub-Fund of the ability to make its desired investment at the time. Any such circumstances may adversely affect the Sub-Fund s performance. 7. Derivatives Risk Although the Sub-Fund will use financial derivative instruments for efficient portfolio management or hedging purposes only, i.e. to reduce risk, in adverse market situations, the Sub-Fund s use of derivatives may become ineffective in efficient portfolio management and/or hedging and the Sub-Fund may suffer significant losses. How has the Sub-Fund performed? Past performance information is not indicative for future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-To- NAV, with dividend reinvested. These figures show by how much the U.S. Dollar Class A Net Accumulation share class increased or decreased in value during the calendar year being shown. Performance data has been calculated in U.S. Dollar including ongoing charges and excluding subscription fee and redemption fee you might have to pay. Where no past performance is shown there was insufficient data available in that year to provide performance. The Sub-Fund launch date: 1973 The U.S. Dollar Class A Net Accumulation Share class launch date: 2007 U.S. Dollar Class A Net Accumulation Share class has been selected as the representative share class because the majority of investors are subscribing into this share class. As such, it is the Management Company s view that past performance information of this share class should be utilized. Is there any guarantee? This Sub-Fund does not have any guarantees. You may not get back the full amount of money you invest..
What are the fees and charges? Charges which may be payable by you You may have to pay the following fees when dealing in the shares of the Sub-Fund. Fee Subscription fee Switching fee Redemption fee What you pay Up to 5.25% of the amount you invest* Nil (You should note that the ACD has discretion to charge a switching fee on a case by case basis) Nil Ongoing fees payable by the Sub-Fund The following expenses will be paid out of the Sub-Fund. They affect you because they reduce the return you get on your investments. Annual rate (as a % of the Sub-Fund s value) Management fee (ACD s annual remuneration (see Note)) 1.75%* Custodian fee 0.001% 0.75%* Performance fee N/A Administration and registration services fee 0.15%* Note: The appointment of the ACD is a regulatory requirement in the United Kingdom. The ACD is responsible for managing and administering the M&G Investment Funds (1) affairs in compliance with the applicable regulations in the UK. Other fees You may have to pay other fees when dealing in the shares of the Sub-Fund. * You should note that some fees may be increased by giving affected shareholders and Hong Kong Investors at least one month s prior notice. Additional Information You generally buy and redeem Shares at the Sub-Fund s next-determined net asset value (NAV) after an Authorised Distributor receives your request in good order prior to 11.30 am (Central European time) being the dealing cut-off time on any dealing day. However, before placing your subscription or redemption orders, please check with your distributor for the distributor s internal dealing cut-off time (which may be earlier than the Sub-Fund s dealing cut-off time). Investors may obtain past information of other share classes offered to Hong Kong investors from http://www.mandg.com/hong-kong/^ The net asset value of this Sub-Fund is calculated and the price of units published daily in The Standard and the Hong Kong Economic Times. Important If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. ^ This website has not been reviewed by the SFC.