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M&G Extra Income name, objective and AMC change details

1. Fund details  
Companies impacted Old Mutual Wealth Limited
Old Mutual Wealth Life & Pensions Limited
Old Mutual International Guernsey Limited
Fund Group M&G Securities Ltd
Fund Name M&G Extra Income
Type of change Name, Objective & AMC Change
Date change effective from 16/12/2016
Is the event subject to shareholder approval? No
2. Name change details  
Previous fund name M&G Extra Income
New fund name M&G UK Income Distribution
3. Fund objectives  
Previous fund objective To invest mainly in a range of UK equities with the aim of achieving a high income stream which also increases over time. The target yield is 50% higher than that of the FTSE All-Share Index but this may vary in the shorter term. Although income will be the primary consideration, the investment manager will also be mindful of total return (the combination of income and growth of capital).
New fund objective Aims to increase income distributions over time and targets a yield greater than that of the FTSE All-Share Index. Although income will be the primary consideration, the investment manager will also aim for capital growth.
4. Change to charging structure  
Unbundled Fund  
Previous AMC 0.75%
New AMC 0.60%
Previous Reimbursed Rebate Rate (Charge Basis 3) 0.16%
New Reimbursed Rebate Rate (Charge Basis 3) 0.01%


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