M&G Smaller Companies Fund

The fund aims to achieve a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, over five years than the Deutsche Numis Smaller Companies Index (excluding Investment Companies). The fund is a well-diversified but high-conviction portfolio of UK smaller company shares constructed via a bottom-up approach to stockpicking. A long-term perspective is adopted with particular focus placed on growth, competitive advantage, change, quality of management and valuation.