M&G Global AI Themes Fund

The fund aims to provide a higher total return (the combination of capital growth and income), net of the Ongoing Charges Figure, than that of the MSCI ACWI Index over any five-year period. The fund managers seek to identify opportunities where artificial intelligence (AI) is emerging as a potential driver to long-term revenue growth or profit margin expansion. They look for innovations through provision or adoption of AI, which they expect will cause changes in the way existing markets or businesses operate. At least 80% of the fund is invested in the shares of companies in the following three categories: AI Enablers (providing key underlying AI technology), AI Providers (supplying AI services to end users) and AI Beneficiaries (companies that meaningfully benefit from using AI). The fund managers’ engagement with the companies’ technical experts and executive management is a key part of the investment approach.