M&G Investments

Daft_Monkey

Does anyone know anything about M&G Investments? They offer an Index Tracker fund with just 0.30% annual charge.

blinko

i dont know anything abou them personally as i dont have any holdings with them but you can check out https://www.morningstar.co.uk for more info etc about them

Daft_Monkey

blinko wrote:

i dont know anything abou them personally as i dont have any holdings with them but you can check out https://www.morningstar.co.uk for more info etc about them

Thank you blinko, I did check morningstar prior to posting my original message.
I'm just wondering how credible they are, and if can be trusted with our investments. Will, for example, our investments be safe if the company gets into financial difficulties?

Reaper

M&G is a large and well respected firm. I can't say if your investments with them will do well or not but I can reassure you they won't do a runner with your money. They are also very unlikely to go under but even if they do you should be protected by the FSCS. You can read about it here.

blinko

yeah i have definately heard of them and seen adverts etc i think they have a global basics fund which is based on natural resources which i was looking into a while back but i would definately say it is one of the more reputable fund managers out there ! anyway good luck with your investments, also try to not to go to them directly otherwise you will have to pay the full initial fee which is usually about 5% odd !

paul666

0.3%

No. It's actually:
0.3% Annual Management Charge
+ 0.007% Estimated Annualised Custodian Charge
+ 0.1763% Annual Administration fee (inc. VAT)

These last two are found on the "OEIC Key Features" pdf off here:
http://www.mandg.co.uk/Consumer/FundsAndProducts/OEIC/Literature.jsp?ico=Literature&icl=nav

Until recently, M&G at least had the decency to put these last two charges on the Key Features document for the Index Tracker Fund. To put it on a different part of the site in this way IMHO is very misleading - I guess they are desperate for ISA bussiness that they're prepared to do this.
Personally, I think's dishonest...
I'd suggest you go with L&G's offering (0.51%) and get the charges for the first year refunded.

Paul_Varjak

Daft_Monkey wrote:

I'm just wondering how credible they are, and if can be trusted with our investments. Will, for example, our investments be safe if the company gets into financial difficulties?

My mother died recently and had many investments with many different fund managers. Of all of them I found M&G one of the most helpful and the ones who provided the most information on how to handle mum's estate (a sizeable booklet). I did not have to 'chase' them at all!

As for protection, all investments are covered by the Investors Compenation scheme. If the company goes bust you are covered for the first £20,000 and 90% of the next £30,000; maximum compensation £48,000.

klondyke

Originally Midland and General, one of the first (if not THE first) to indroduce unit trusts. Highly respected.

Daft_Monkey

Thank you all for your comments, they are all very helpful.

dealseeker

Owned by Prudential with AA+ rating.
Protecton of investments as described above.
Performance of fund is never guaranteed.

dunstonh

If you are going to buy, then do it through a funds supermarket rather than direct with M&G. If you change your mind in future and want diversification or just a change, then it would be easier with a funds supermarket.