M&G North American Value Fund

The fund aims to provide a combination of capital growth and income to deliver a return, net of the Ongoing Charge Figure, that is higher than that of the S&P 500 Index over any five-year period. At least 80% of the fund is invested in the shares of companies based, or doing most of their business, in the US and Canada. The fund manager employs a ‘value strategy’ that involves investing in cheap and out-of-favour companies whose share price he believes does not reflect accurately the valuation of the business. The fund manager seeks to identify companies which are, in their opinion at the time of investment, undervalued.