M&G ESG Screened Global High Yield Bond Fund

The fund aims to provide a combination of capital growth and income, net of the Ongoing Charge Figure, that is higher than the Bloomberg MSCI Global HY Corporate ESG BB+ Sustainable SRI Bond Index (USD Hedged) over any five-year period while applying ESG Criteria. At least 80% of the fund is invested in high yield (ie, lower quality) bonds issued by companies located in any country, including emerging markets, and denominated in any currency. Currency exposure is typically hedged back to the US dollar. The fund’s ESG characteristics apply to at least 70% of the fund’s assets. These characteristics are achieved by applying ESG Criteria to screen investments and by integrating ESG Factors into the fund’s research and investment process. The fund maintains a higher weighted ESG score and lower weighted average carbon intensity, a metric used to report carbon emissions, than the global high yield bond market, as represented by the ICE BofA Global High Yield Index (USD Hedged).