|Bid Price||-||Offer Price||-|
|Mid Price||GBX 153.83||Day Change||GBX -0.57 (-0.37%)|
|Price Date||16 Jan 2018||Crown Rating|
|Shares Class||Inc.||Yield||1.94 %|
|Total Expense Ratio||0.16||Fund Size||2,986,750,000.00|
|Launch Date||23/05/1969||Standard Initial Charge (%)||1.00|
|Annual Management Charge (%)||0.00||Sector||IMA UK Equity Income|
|Min Investment (£)||500,000.00||Total Expense Ratio (%)||0.16|
|ISIN||GB00B015Z869||Min TopUp (£)||25,000.00|
The fund invests at least 80% of the portfolio in companies that are out of favour with the stockmarket where the fund manager believes a good management team is making concerted efforts to turn the business around. The fund’s sole aim is to achieve capital growth. The fund manager takes a long-term view with a typical holding period of five years or more. Developing a constructive dialogue with company management is a fundamental part of the investment process.
Tom Dobell joined M&G in 1992 as a UK equity manager on the segregated pension fund desk where he was responsible for managing assets for 16 pension fund clients. In March 2000, Tom became fund manager of the M&G Recovery Fund. Before joining M&G, he worked for Phillips & Drew (PDFM) as a fund manager within the charity and small pension fund division. Tom graduated from agricultural college in 1986.
Michael Stiasny was appointed fund manager of Charifund in November 2016, and has been deputy manager of the M&G Recovery Fund since January 2011. Michael initially joined M&G in 1998 as an equity analyst, becoming head of the pan-European equity research team in January 2005. Michael graduated in philosophy, politics and economics from Oxford University. He is also a CFA charterholder.
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.