M&G's global head of distribution Jonathan Willcocks has said the firm's migration of assets, which is believed to be the largest by any asset manager in history, is "crucial" to ensure all European clients can own its funds after Brexit.
Nevrtheless, the firm expects there will be repercussions for the UK range, including "very small" ongoing charges figure (OCF) increases following the funds' reduction in size The firm recently announced it would begin the process of migrating £34bn of non-sterling assets across 21 UK-domiciled OEIC funds into equivalent Luxembourg strategies in four phases over the next six months. The vehicles will be suspended for a day on either side of different weekends over the period, in order to avoid suspending them all at once. M&G said it had "fully engaged" with platforms over the suspen...
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