M&G Global Basics

RubyBish

Anyone know the history of this fund?
Fidelity/Morning Star say that the Class A is open and Class X is closed.
But Hargreaves Langsdown only allow new investments in Class X.

ReportInvestor

Why do you particularly want to buy this fund?

Past performance looks good on this TrustNet link

But perhaps not surprising given the commodity bias.

RubyBish

I dont want to buy it. I have a holding in it already.
I am interested in transfering to a different funds supermarket but it is the only fund I own which doesnt match up between supermarkets.

dunstonh

You dont need to match up funds to transfer. Re-registration requires matching.

RubyBish

Thanks for your repsonses, I also got a response from M&G who explained the classification differences.

Class A shares denote an initial charge payable on investments into a fund (usually 4%). Class X shares have a 5 year sliding scale withdrawal fee payable in place of an initial charge. This means that if the investment is held past the fifth anniversary of the date of invest then no charges would be payable if the shares were then sold or transferred. Withdrawal fees are not applicable to A class shares.

We have recently offered the X class shares on a number of our funds where only the A class was available previously. This was originally a limited time offer due to end on 31st May 2006. However, due to popular demand we have decided to continue offering the X class share on a range of our funds.