M&G European ex-UK Fund

The fund aims to provide combined income and capital growth, net of the ongoing charge figure, that is higher than that of the FTSE World Europe ex UK Index, over any five-year period. At least 80% of the fund is invested in the shares of medium and large market capitalisation companies that are domiciled or incorporated, or do most of their business in Europe excluding the UK. The fund managers apply a bottom-up stockpicking approach to find shares of companies that they believe are undervalued, while seeking to avoid companies whose share prices are unlikely to improve over time. The investment approach combines value-focused screening with rigorous qualitative analysis. The value style and overall stock selection are expected to be the main drivers of returns.