Montag, 20.11.2017 08:41 Uhr

Four M&G funds in Luxembourg

Verantwortlicher Autor: Carlo Marino Rome/Luxembourg, 14.08.2017, 16:27 Uhr
Presse-Ressort von: Dr. Carlo Marino Bericht 4849x gelesen

Rome/Luxembourg [ENA] The UK-based asset manager M&G, is a leading international investment manager with more than 80 years’ experience. M&G’s customers include private investors, members of pension schemes and life insurance policyholders. Responding to the ever changing financial landscape, the firm has developed a wide range of investment solutions, across equities, fixed income, real estate, multi asset and infrastructure.

At the moment, M&G is organizing the transfer of four of its funds to Luxembourg to eliminate ambiguity for non-UK investors ahead of the country exiting the EU. The funds are worth a combined €7bn and are offered only to non-UK investors, despite being domiciled in London. With little transparency yet on the outcome of the negotiations between the UK and the rest of the European Union on its future trading relationship, M&G considers it is prudent to take action now to protect the interests of its international customers.

The proposals to transfer the assets of these four funds have a main goal, that is to reduce disturbance for the investors. Authorization of the transfer will guarantee they maintain access to the same strategies and the same fund. Luxembourg’s regulator, the Commission de Surveillance du Secteur Financier, and the UK’s Financial Conduct Authority have both given the transfer the green light. The proposal will be put to investors in the four funds in September with a view to moving the assets to the fund manager’s existing SICAV in November, according to a statement from M&G.

The four funds affected are:M&G Dynamic Allocation, M&G Income Allocation, M&G Prudent Allocation (to be renamed M&G Conservative Allocation) and M&G European Inflation Linked Corporate Bond managers. Promoters will most likely re-direct EU investors to EU-based vehicles and keep OIECs (UK investment vehicles) as local distribution products. This said, to the extent regulatory frameworks for funds remain moderately equivalent between the UK and the EU, and consumers are still allowed to purchase cross border.

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