Global Recovery Fund

ISIN
GB00BYRJNM01

Price (24.04.2019)
11.49

% Price Change
0.60

Objective and investment policy

Objective

The fund aims to provide a combination of capital growth and income, net of the Ongoing Charge Figure, that is higher than the MSCI ACWI Index over any five-year period.

Investment policy and strategy

Core investment: At least 80% of the fund is invested in the shares of companies from anywhere in the world (including emerging markets), across any sector and of any size.

Other investments: The fund may also invest in other funds (including funds managed by M&G), cash or assets that can be turned into cash quickly.

Use of derivatives: Derivatives may be used for investment purposes or to reduce risks or costs.

Strategy in brief: The fund employs a disciplined approach to analyse and select each company. The ‘recovery’ strategy invests in companies that have experienced difficulties but have the potential to deliver returns for shareholders through their turnaround over the long term. The approach focuses on three key factors: people, strategy and cashflow. Developing a constructive dialogue with company management is fundamental to the investment process. The fund manager takes a long-term view with a typical holding period of five years or more.

Risks associated with the fund

The value and income from the fund's assets will go down as well as up. This will cause the value of your investment to fall as well as rise. There is no guarantee that the fund will achieve its objective and you may get back less than you originally invested.

The fund can be exposed to different currencies. Movements in currency exchange rates may adversely affect the value of your investment.

Investing in emerging markets involves a greater risk of loss due to greater political, tax, economic, foreign exchange, liquidity and regulatory risks, among other factors. There may be difficulties in buying, selling, safekeeping or valuing investments in such countries.

In exceptional circumstances where assets cannot be fairly valued, or have to be sold at a large discount to raise cash, we may temporarily suspend the fund in the best interest of all investors.

The fund could lose money if a counterparty with which it does business becomes unwilling or unable to repay money owed to the fund.

Further details of the risks that apply to the fund can be found in the fund's Prospectus.

Other information

The fund invests mainly in company shares and is therefore likely to experience larger price fluctuations than funds that invest in bonds and/or cash.

 

Performance

The value of investments will fluctuate, which will cause fund prices to fall as well as rise and you may not get back the original amount you invested. The level of any income earned by the fund will fluctuate. Past performance is not a guide to future performance. 

Source: Price: State Street. Performance: Morningstar. Performance figures are on a price to price basis with income reinvested. Performance figures may not reflect all relevant charges.

Please note that the Morningstar Category performance data in this tool where shown, is from the default Morningstar database, which contains all the share classes for each fund available across Europe, Asia and Africa. This can differ from the comparative sector data in M&G factsheets which is from the same database, but showing only the most appropriate share class to represent each fund, and for just those funds available in Europe. Neither Morningstar nor its Information Providers can guarantee the accuracy, completeness, timeliness, or correct sequencing of any of the Information on the Web site, including, but not limited to Information originated by Morningstar, licensed by Morningstar from Information Providers, or gathered by Morningstar from publicly available sources. There may be delays, omissions, or inaccuracies in the Information.

 

Fund Team

David Williams

David Williams - Fund manager

David Williams is fund manager of the M&G Global Recovery Fund and deputy fund manager of the M&G Recovery Fund. He joined M&G in January 2004, having graduated from the University of Nottingham with a degree in economics. David worked closely with Tom Dobell as a fund managers' assistant for three years prior to becoming deputy fund manager of the M&G Recovery Fund in September 2008. He is a CFA charterholder.

 Team member biography
Randeep Somel

Randeep Somel - Deputy Manager

Randeep Somel is deputy fund manager of the M&G Global Recovery Fund. Previously, Randeep was fund manager of the M&G Global Themes Fund and the M&G Managed Growth Fund. He joined M&G in 2005 as a fund managers’ assistant on the M&G Equities team, and in August 2008, was promoted to dedicated analyst on the M&G Global Themes Fund, the M&G Managed Growth Fund and the Vanguard Precious Metals & Mining Fund. Prior to joining M&G, Randeep worked for State Street in a fund accounting role. He graduated from Birmingham University with a degree in economics in 2003. Randeep is a CFA charterholder.

 Team member biography
Michael Stiasny

Michael Stiasny - Deputy Manager

Michael Stiasny is the fund manager of Charifund and, since 1 April 2018, of the M&G UK Income Distribution Fund. In February 2019 he was also appointed fund manager of the M&G Dividend Fund. He is also deputy fund manager of both the M&G Recovery Fund and the M&G Global Recovery Fund. He joined M&G in 1998 as an equity analyst, becoming head of the pan-European equity research team in 2005. He was appointed deputy fund manager of the M&G Recovery Fund in 2011. Michael graduated with a degree in philosophy, politics and economics from the University of Oxford. He is a CFA charterholder.

 Team member biography
Gregor Morris

Gregor Morris - Investment specialist

Gregor Morris is currently the Investment Specialist for the M&G Recovery team. He is also responsible for M&G’s Japan and UK equity fund ranges. Gregor joined M&G in 2012 as part of the Graduate Programme, having gained a BA in history and politics from the University of York. He is a CFA charterholder.

 Team member biography

Ratings

Rating is at a share class level

2 Star Rating

Ratings as at 31/01/2019. The Morningstar Overall Rating. Copyright © 2019 Morningstar UK Limited. All Rights Reserved. The Morningstar Analyst Rating™. © 2019 Morningstar. All Rights Reserved. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Ratings should not be taken as recommendation.

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