M&G Global Listed Infrastructure Fund

The fund aims to deliver a combination of capital growth and income that is higher, net of the ongoing charge figure, than that of the MSCI All Country World Index over any five-year period and to increase the income stream every year, in sterling terms. It looks to do this by investing at least 80% of the fund in shares issued by infrastructure companies, investment trusts and real estate investment trusts of any size, from any country, including emerging markets. The fund usually holds shares in fewer than 50 companies. While the fund does not pursue an environmental, social and governance (ESG) outcome, the fund manager systematically integrates ESG factors into the research and investment process as part of assessing sustainability risks. The fund also excludes certain investments on ESG criteria, as set out in the Prospectus.