M&G Recovery, the group's £923m flagship UK equity portfolio, is being offered with a 2% discount ...
M&G Recovery, the group's £923m flagship UK equity portfolio, is being offered with a 2% discount on its initial charge until 1 October.
This will reduce the front end fee from 5% to 3% during the discounted period.
The fund, which is managed by Tom Dobell and has an A rating from Standard & Poor's, has an annual management fee of 1%.
The promotion of Recovery marks the beginning of an active push of M&G's equity fund range from the third quarter. This will primarily focus on Recovery, Income and the three funds of funds managed by Cazenove.
Over three years to 4 August, M&G Recovery has fallen 19.1%, offer to bid, compared to a UK All Companies sector average return of -29.8%, ranking it 22 out of 244 peers.
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