# Fund Supplements
The information contained in each Fund Supplement should be read in conjunction with the full Prospectus.

## Equity Funds

### M&G (Lux) Asian Fund
Launch Date	26 October 2018
Investment Objective The Fund aims to provide a higher total return (capital growth plus income) than that of the Asia Pacific (excluding Japan) equity market over any five-year period while applying ESG Criteria.
Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities of companies that are domiciled in, or conducting the major part of their economic activity in, the Asia Pacific region (excluding Japan).
The Fund may invest in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect or, as from 1 February 2023 the QFI status granted to the Investment Manager.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive ESG Tilt as described in the precontractual annex to this Fund Supplement.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits and warrants.
The Fund may use derivative instruments for the purposes of hedging and efficient portfolio management.
Investment Strategy	Investment Approach
The Fund employs a bottom-up stock picking approach to identify companies whose long- term prospects are, in the Investment Manager’s opinion, being undervalued. The Fund’s approach incorporates three elements: return on capital, valuations and corporate governance.
It is the core belief of the Investment Manager that company-specific financial factors, in particular their profitability (which is measured in terms of returns on capital) drive share prices over the long run.
The Fund’s country and sector exposure is not influenced by financial top-down views.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	MSCI AC Asia Pacific ex Japan Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund's portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents and as a result the Fund’s performance may deviate significantly from the benchmark.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking long term capital growth and income through investment in Asian securities and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Emerging markets
- China
- Currency & exchange rate
- Specific asset class, region or sector
- Liquidity
- Counterparty
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.50% | 5.00% | - | - | - | 0.05% | 0.15% |
| B | 2.00% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| X | 1.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 3.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Asian Fund
Legal Entity Identifier: 
549300ORHSL7KYFQYW10
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a Positive ESG Tilt (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
The Fund maintains a weighted average ESG rating that is either
- higher than that of the equity market as represented by its investment universe; or
- equivalent to at least an MSCI A rating, whichever is lower (“Positive ESG Tilt”).

In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Positive ESG Tilt: Portfolio weighted average ESG score versus investment universe weighted average ESG score or versus the ESG score corresponding to the lowest numerical value of the MSCI A rating.


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions. In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process should result in a portfolio with better ESG characteristics. In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The Fund’s ESG Criteria apply to at least:
- 90% of equities issued by large capitalisation companies in developed countries; debt securities, money market instruments with an investment grade credit rating; and sovereign debt issued by developed countries;
- 75% of equities issued by large capitalisation companies in emerging market countries; equities issued by small and mid-capitalisation companies in any country; debt securities and money market instruments with a high yield credit rating; and sovereign debt issued by emerging market countries.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s Positive ESG Tilt;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives are not used to attain the promoted environmental and/or social characteristics.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds and derivatives as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied, other than as set out below.
Derivatives used to take investment exposure to diversified financial indices, and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test. No minimum environmental or social safeguards are applied to FX derivatives.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Better Health Solutions Fund
Launch Date	2 March 2023 or on any other date decided by the Management Company or by the Board of Directors of the Company
Investment Objective	The Fund has two aims:
- Financial objective: to provide a higher total return (capital growth and income) than that of the global equity market over any five-year period; and
- Impact objective: to invest in companies that deliver solutions to address better health and well-being.

Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities and equity related instruments of companies across any sector and market capitalisation that are domiciled, incorporated or listed in any developed market. The Fund has a concentrated portfolio of usually fewer than 40 companies.
The Fund may also invest in the equity securities and equity related instruments of companies that are domiciled, incorporated or listed in emerging markets, including investments in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect up to 20% of its Net Asset Value.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach, in addition to its sustainable investment strategy used in pursuit of the sustainable investment objective, as described in the precontractual annex to this Fund Supplement.
The Fund may also invest indirectly via funds (i.e. UCITS and other UCIs including funds managed by M&G), and may invest in other transferable securities such as short dated bonds and money market instruments for liquidity management, cash, and near cash.
The Fund may use derivatives for efficient portfolio management and hedging.
Investment Strategy	Investment Approach
The Fund is a concentrated portfolio of global stocks, investing over the long term in companies that are delivering solutions to address better health and well-being alongside a financial return, using a disciplined stock selection process.
The Fund invests in companies that deliver solutions to address better health and/or better well-being as explained in the [precontractual annex] to this Fund Supplement.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / Impact.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 9 fund under SFDR, and information about its sustainable investment is described in the precontractual annex to this Fund Supplement.
Benchmark	MSCI World Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the Fund’s financial objective. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents and as a result the Fund’s performance may deviate materially from the benchmark.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking a combination of capital growth and income from a portfolio that invests globally in shares of companies which deliver solutions to address better health and well-being and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objectives. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Concentrated portfolio
- Emerging markets
- China
- Smaller companies
- Currency & exchange rate
- Liquidity
- Counterparty
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.75% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.25% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| L | 0.30% | 1.25% | - | - | - | 0.05% | 0.15% |
| LI | 0.30% | 1.25% | - | - | - | 0.01% | 0.15% |
| N | Up to 1.75% | 4.00% | - | - | - | 0.05% | 0.15% |
| X | 1.75% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 9, paragraphs 1 to 4a, of Regulation (EU) 2019/2088 and Article 5, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Better Health Solutions Fund
Legal Entity Identifier: 
254900DW7OX08JEEMU71
Sustainable investment objective
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective: 80%
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What is the sustainable investment objective of this financial product?
Sustainability indicators measure how the sustainable objective of this financial product are attained.
To invest in companies that deliver solutions to address better health and well-being.

######  What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product?
For each stock held in the portfolio, the Investment Manager will use the following sustainability indicators:
- Percentage (%) of NAV in investments aligned to United Nations Sustainable Development Goals (“SDGs”):
	- SDG2 - Zero hunger
	- SDG3 - Good Health and Wellbeing,
	- SDG6 - Clean water and sanitation
	- SDG11 - Sustainable Cities and Communities; and
	- SDG12 - Responsible Consumption and ProductionIn addition, for each investment considered to be SDG-aligned, the Investment Manager will assess the strength of contribution to the relevant SDG(s).


Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do sustainable investments not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful.
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas).
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investment.

How have the indicators for adverse impacts on sustainability factors been taken into account?
The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund. Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
The Fund invests in companies that deliver solutions to address better health and/or better wellbeing. These can be understood by reference to the United Nations Sustainable Development Goals framework as companies which are focused on sustainable development goals such as Good Health and Wellbeing; Zero Hunger; Clean Water and Sanitation; Sustainable Cities and Communities; Responsible Consumption and Production; and other companies which the Investment Manager considers appropriate to invest in, in pursuit of the impact objective. These companies are assessed using the Investment Manager’s impact assessment methodology (“Impact Methodology”) described below.
The Impact Methodology focuses on three criteria:
- Investment Credentials: the quality and durability of the company’s business model and its ability to produce sustainable economic returns;
- Intention: the company’s purpose as evidenced by the alignment of its mission statement with its corporate strategy and actions; and
- Impact: the scale of the net positive societal impact and the company’s progress in addressing social equality challenges.

The outputs of the Impact Methodology enable the Fund to allocate to the following three investment types:
- “Pioneers”, whose products or services have or could have a transformational effect on social equality.
- “Enablers”, which provide the tools for others to empower social equality.
- “Leaders”, which spearhead and mainstream sustainability in industries empowering social equality, but which may have more established profitability than pioneers.

The Investment Manager’s engagement with the companies in which the Fund invests is key to the investment approach.
Sustainability considerations, encompassing ESG factors, are fully integrated into analysis and investment decisions, and play an important role in determining the investment universe and portfolio construction.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then assesses the sustainability credentials of the remaining companies. Potential investments are identified by reference to the relevant SDGs, and assessed using the Impact Methodology.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective on of their valuation.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain the sustainable investment objective?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s asset allocation, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates data driven quantitative good governance tests used to consider investments into companies. The Investment Manager excludes investments in securities that are considered as failing the Investment Manager’s good governance tests. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation and the minimum share of sustainable investments?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 80% of the Fund to be invested in social sustainable investments, in pursuit of the social sustainable investment objective.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Sustainable
#2 Not sustainable
Social
#1 Sustainable covers sustainable investments with environmental or social objectives.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Not sustainable includes investments which do not qualify as sustainable investments.

######  How does the use of derivatives attain the sustainable investment objective?
Derivatives are not used to attain the sustainable investment objective.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
0%

###### What is the minimum share of sustainable investments with a social objective?
80%

###### What investments are included under “#2 Not sustainable”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, and derivatives as “Other” investments, for hedging purposes or in connection with cash held for ancillary liquidity. No minimum environmental or social safeguards are applied, other than as stated below.
Where derivatives are used to take investment exposure to diversified financial indices, these will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
It is also possible that the Fund may hold investments that are not in line with the sustainable investment objective, e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to meet the sustainable investment objective?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Climate Solutions Fund
Launch Date	12 November 2020
Investment Objective	The Fund has two aims:
- Financial objective: to provide a higher total return (capital growth plus income) than that of the global equity market over any five-year period; and
- Impact objective: to invest in companies that deliver solutions to the challenge of climate change.

Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities and equity related instruments of companies across any sector and market capitalisation that are domiciled, incorporated or listed in any developed market. The Fund has a concentrated portfolio and usually holds fewer than 40 stocks.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach, in addition to its sustainable investment strategy used in pursuit of the sustainable investment objective, as described in the precontractual annex to this Fund Supplement.
The Fund may also invest in the equity securities and equity related instruments of companies that are domiciled, incorporated or listed in emerging markets, including investments in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect up to 20% of its Net Asset Value. Such equity securities and equity related instruments are also subject to the impact assessment methodology and exclusions above.
The Fund may also invest indirectly via funds (i.e. UCITS and other UCIs including funds managed by M&G), and may invest in other transferable securities such as short dated bonds and money market instruments for liquidity management, cash, and near cash.
The Fund may use derivatives for efficient portfolio management and hedging.
Investment Strategy	Investment Approach
The Fund is a concentrated portfolio of global stocks, investing over the long term in companies that are delivering solutions to the challenge of climate change alongside a financial return, using a disciplined stock selection process to build a high conviction portfolio of impact assets as further explained in the precontractual annex to this Fund Supplement.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / Impact.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 9 fund under SFDR, and information about its sustainable investment is described in the precontractual annex to this Fund Supplement.
Benchmark	MSCI World Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the Fund’s financial objective. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund's portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund is suitable for retail and Institutional Investors seeking a combination of capital growth and income by investing in a portfolio of shares of companies from anywhere in the world that aim to deliver solutions to the challenge of climate change and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objectives. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Concentrated portfolio
- Currency & exchange rate
- Emerging markets
- China
- Liquidity
- Counterparty
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.75% | 4.00% |  |  | - | 0.05% | 0.15% |
| B | 2.25% | - |  |  | - | 0.05% | 0.15% |
| C | 0.75% | 1.25% |  |  | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% |  |  | - | 0.01% | 0.15% |
| J | Up to 0.75% | - |  |  | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| L | 0.50% | 1.25% | - | - | - | 0.05% | 0.15% |
| LI | 0.50% | 1.25% | - | - | - | 0.01% | 0.15% |
| N | Up to 1.75% | 4.00% |  |  | - | 0.05% | 0.15% |
| X | 1.75% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | - | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 9, paragraphs 1 to 4a, of Regulation (EU) 2019/2088 and Article 5, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Climate Solutions Fund
Legal Entity Identifier: 
254900TXGEMG2PHLBX89
Sustainable investment objective
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective: 80%
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What is the sustainable investment objective of this financial product?
Sustainability indicators measure how the sustainable objective of this financial product are attained.
To invest in companies that deliver solutions to the challenge of climate change.

######  What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product?
Fund level sustainability indicators:
- Percentage (%) of NAV committed to Science-Based Targets (SBTs)
- Percentage (%) of NAV with ratified Science-Based Targets
- Percentage (%) of CO2 emissions with Science-Based Targets
- Percentage (%) of NAV in investments with net positive carbon emissions (i.e. investments that are considered to remove more potential carbon emissions than they produce)
- Percentage (%) of NAV participating in Task Force on Climate-Related Financial Disclosures (TCFD) reporting
- Total renewable energy produced (megawatt hours)
- Percentage (%) of NAV in investments in climate solution companies
- Percentage (%) of NAV in investments aligned to United Nations Sustainable Development Goals (“SDGs”):
- SDG7 - Affordable and Clean Energy
- SDG9 - Industry, Innovation and Infrastructure;
- SDG11 - Sustainable Cities and Communities; and
- SDG12 - Responsible Consumption and Production
- SDG15 - Life on LandIn addition, for each investment considered to be SDG-aligned, the Investment Manager will assess the strength of contribution to the relevant SDG(s).

Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do sustainable investments not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful.
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas).
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investment.

How have the indicators for adverse impacts on sustainability factors been taken into account?
The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund. Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, For sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
The Fund invests in companies that deliver solutions to address the challenge of climate change. These can be understood by reference to the United Nations Sustainable Development Goals framework as companies which are focused on sustainable development goals such as Affordable and Clean Energy; Industry, Innovation and Infrastructure; Sustainable Cities and Communities; Responsible Consumption and Production; Life on Land; and other companies which the Investment Manager considers appropriate to invest in, in pursuit of the impact objective. These companies are assessed using the Investment Manager’s impact assessment methodology (“Impact Methodology”) described below.
The Impact Methodology focuses on three criteria:
- Investment Credentials: the quality and durability of the company’s business model and its ability to produce sustainable economic returns;
- Intention: the company’s purpose as evidenced by the alignment of its mission statement with its corporate strategy and actions; and
- Impact: the scale of the net positive societal impact and the company’s progress in addressing social equality challenges.

The outputs of the Impact Methodology enable the Fund to allocate to the following three investment types:
- “Pioneers”, whose products or services have or could have a transformational effect on social equality.
- “Enablers”, which provide the tools for others to empower social equality.
- “Leaders”, which spearhead and mainstream sustainability in industries empowering social equality, but which may have more established profitability than pioneers.

The Investment Manager’s engagement with the companies in which the Fund invests is key to the investment approach.
Sustainability considerations, encompassing ESG factors, are fully integrated into analysis and investment decisions, and play an important role in determining the investment universe and portfolio construction.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then assesses the sustainability credentials of the remaining companies. Potential investments are identified by reference to the relevant SDGs, and assessed using the Impact Methodology.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain the sustainable investment objective?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s asset allocation, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?". Please note that the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy is non-binding where the reason for holding less than such minimum is because Taxonomy-aligned investments are held instead (as all such investments are sustainable investments with environmental objectives).

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates data driven quantitative good governance tests used to consider investments into companies. The Investment Manager excludes investments in securities that are considered as failing the Investment Manager’s good governance tests. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation and the minimum share of sustainable investments?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 80% of the Fund to be invested in environmental sustainable investments, in pursuit of the environmental sustainable investment objective.
The Fund is not required to favour any specific type of environmental sustainable investment.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Sustainable
#2 Not sustainable
Environmental
Taxonomy-aligned
Other
#1 Sustainable covers sustainable investments with environmental or social objectives.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Not sustainable includes investments which do not qualify as sustainable investments.

######  How does the use of derivatives attain the sustainable investment objective?
Derivatives are not used to attain the sustainable investment objective.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
80%

###### What is the minimum share of sustainable investments with a social objective?
0%

###### What investments are included under “#2 Not sustainable”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, and derivatives as “Other” investments, for hedging purposes or in connection with cash held for ancillary liquidity. No minimum environmental or social safeguards are applied, other than as stated below.
Where derivatives are used to take investment exposure to diversified financial indices, these will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
It is also possible that the Fund may hold investments that are not in line with the sustainable investment objective, e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to meet the sustainable investment objective?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Diversity and Inclusion Fund
Launch Date	18 November 2021
Investment Objective	The Fund has two aims:
- Financial objective: to provide a higher total return (capital growth plus income) than that of the global equity market over any five-year period; and
- Sustainable objective: to invest in companies that have demonstrable gender and/or ethnic diversity, or which provide solutions empowering social equality.

Investment Policy	At least 80% of the Fund’s Net Asset Value is invested in the equity securities and equity related instruments of Diversity Companies and Inclusion Companies (as defined in the precontractual annex to this Fund Supplement) across any sector and market capitalisation that are domiciled, incorporated or listed in any country, including emerging markets. The Fund has a concentrated portfolio of usually fewer than 40 companies.
The Fund invests in assets that meet its ESG Criteria, applying an Exclusionary Approach, in addition to its sustainable investment strategy used in pursuit of the sustainable investment objective, as described in the precontractual annex to this Fund Supplement.
The Fund may also invest indirectly via funds (i.e. UCITS and other UCIs including funds managed by M&G), and may invest in other transferable securities such as short dated bonds and money market instruments for liquidity management, cash, and near cash.
Derivatives may be used for efficient portfolio management and hedging.
Investment Strategy	Investment Approach
The Fund is a focused global equity fund, making long-term investments in Diversity Companies and Inclusion Companies as explained in the precontractual annex to this Fund Supplement.
The Investment Manager selects the most suitable assets to build a concentrated and high- conviction portfolio.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / Sustainable.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 9 fund under SFDR, and information about its sustainable investment is described in the precontractual annex to this Fund Supplement.
Benchmark	MSCI ACWI Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the Fund’s financial objective. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund's portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income from a portfolio that invests in the shares of companies from anywhere in the world, that demonstrate a commitment towards diversity leadership or provide solutions empowering social equality and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objectives. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Emerging markets
- Currency & exchange rate
- Concentrated portfolio
- Smaller companies
- Liquidity
- Counterparty
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.75% | 4.00% | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| L | 0.30% | 1.25% | - | - | - | 0.05% | 0.15% |

| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| LI | 0.30% | 1.25% | - | - | - | 0.01% | 0.15% |
| X | 1.75% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 9, paragraphs 1 to 4a, of Regulation (EU) 2019/2088 and Article 5, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Diversity and Inclusion Fund
Legal Entity Identifier: 
254900YIO1LVTNZ3KH90
Sustainable investment objective
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective: 80%
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What is the sustainable investment objective of this financial product?
Sustainability indicators measure how the sustainable objective of this financial product are attained.
To invest in companies that have demonstrable gender and/or ethnic diversity, or which provide solutions empowering social equality.

######  What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product?
For each stock held in the portfolio, the Investment Manager will use the following sustainability indicators:
- Year-on-Year Change of women on the board
- Year-on-Year Change of women in leadership roles
- Year-on-Year Change of ethnic diversity on the board
- Year-on-Year Change of ethnic diversity in leadership roles
- Percentage (%) NAV with board gender diversity (more than 30%), as reported by the company
- Percentage (%) NAV with board ethnic diversity (more than 30%), as reported by the company
- Percentage (%) NAV considered by the Investment Manager to have leadership diversity, based on data reported by the company
- Percentage (%) of NAV in investments aligned to United Nations Sustainable Development Goals (“SDGs”):
- SDG3 - Good Health and Wellbeing,
- SDG4 - Quality Education;
- SDG5 - Gender Equality;
- SDG8 - Decent Work and Economic Growth;
- SDG9 - Industry, Innovation and Infrastructure;
- SDG10 - Reduced Inequalities; and
- SDG16 - Peace, Justice and Strong InstitutionsIn addition, for each investment considered to be SDG-aligned, the Investment Manager will assess the strength of contribution to the relevant SDG(s).

Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do sustainable investments not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful.
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas).
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investment.

How have the indicators for adverse impacts on sustainability factors been taken into account?
The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
The Fund invests in Diversity Companies and Inclusion Companies.
Diversity Companies are companies that demonstrate sustainability and gender and/or ethnic diversity. They must have at least 30% women and/or 30% ethnic minority representation on boards at the time of purchase. Diversity Companies bought for their ethnic minority representation must also have no single ethnicity representing more than 70% of the board at the time of purchase. The Investment Manager also considers other measures of gender and/or ethnic diversity in assessing the contribution of Diversity Companies to the sustainable objective. Diversity Companies are subject to fundamental assessment using the Fund’s sustainable investment process (“EQL framework”) described below.
The EQL Framework assesses:
- ESG Credentials: environmental and social responsibility characteristics evidenced by strong governance and sustainable business practices.
- Quality: the quality and durability of the company’s business model and its ability to produce sustainable economic returns.
- Leading Diversity: the company’s commitment towards diversity leadership through diversity representation, policies and targets.

Inclusion Companies are companies that deliver solutions to empower social equality. These can be understood by reference to the United Nations Sustainable Development Goals (“SDGs”) framework as companies which are focused on sustainable development goals such as Good Health and Wellbeing, Quality Education; Gender Equality; Decent Work and Economic Growth; Industry, Innovation and Infrastructure; Reduced Inequalities; and Peace, Justice and Strong Institutions; or other companies which the Investment Manager considers appropriate to invest in pursuit of the sustainable objective. These companies are assessed using the Investment Manager’s impact assessment methodology (“Impact Methodology”) described below.
The Impact Methodology focuses on three criteria:
- Investment Credentials: the quality and durability of the company’s business model and its ability to produce sustainable economic returns;
- Intention: the company’s purpose as evidenced by the alignment of its mission statement with its corporate strategy and actions; and
- Impact: the scale of the net positive societal impact and the company’s progress in addressing social equality challenges.

The outputs of the Impact Methodology enable the Fund to allocate to the following three investment types:
- “Pioneers”, whose products or services have or could have a transformational effect on social equality.
- “Enablers”, which provide the tools for others to empower social equality.
- “Leaders”, which spearhead and mainstream sustainability in industries empowering social equality, but which may have more established profitability than pioneers.

The Investment Manager’s engagement with the companies in which the Fund invests is key to the investment approach. Sustainability considerations, encompassing ESG factors, are fully integrated into analysis and investment decisions, and play an important role in determining the investment universe and portfolio construction. In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then assesses the sustainability credentials of the remaining companies:
	- a. Diversity Companies are assessed using the EQL framework; and
	- b. Inclusion Companies are identified by reference to the relevant SDGs, and assessed using the Impact Methodology.

- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain the sustainable investment objective?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s asset allocation, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates data driven quantitative good governance tests used to consider investments into companies. The Investment Manager excludes investments in securities that are considered as failing the Investment Manager’s good governance tests. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation and the minimum share of sustainable investments?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 80% of the Fund to be invested in social sustainable investments, in pursuit of the social sustainable investment objective.
The Fund holds at least 15% and typically a maximum of 30% in Inclusion Companies, with the remainder of the sustainable investments held in Diversity Companies.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Sustainable
#2 Not sustainable
Social
#1 Sustainable covers sustainable investments with environmental or social objectives.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Not sustainable includes investments which do not qualify as sustainable investments.

######  How does the use of derivatives attain the sustainable investment objective?
Derivatives are not used to attain the sustainable investment objective.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
0%

###### What is the minimum share of sustainable investments with a social objective?
80%

###### What investments are included under “#2 Not sustainable”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, and derivatives as “Other” investments, for hedging purposes or in connection with cash held for ancillary liquidity. No minimum environmental or social safeguards are applied, other than as stated below.
Where derivatives are used to take investment exposure to diversified financial indices, these will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to meet the sustainable investment objective?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) European Strategic Value Fund
Launch Date	18 September 2018
Investment Objective  The Fund aims to provide a higher total return (capital growth plus income) than that of the European equity market over any five-year period while applying ESG Criteria.
Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities of companies across any sector and market capitalisation that are domiciled in, or conducting the major part of their economic activity in Europe.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive ESG Tilt as described in the precontractual annex to this Fund Supplement.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits and warrants.
The Fund may use derivative instruments for the purposes of hedging and efficient portfolio management.
Investment Strategy	Investment Approach
The Fund employs a bottom-up stock picking approach to identify shares of European companies that the Investment Manager believes are undervalued. The Investment Manager seeks to identify companies that are mispriced, while trying to avoid firms that are cheap for a reason and whose share prices are unlikely to improve over time.
The Fund’s approach combines strict value-focused screening with rigorous qualitative analysis to ensure the Fund has a consistent and disciplined value bias, without compromising on the robustness of the companies in the portfolio.
The main drivers of returns are expected to be the value style and overall stock selection rather than any individual sector or stock.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	MSCI Europe Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund's portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents and as a result the Fund’s performance may deviate significantly from the benchmark.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income from a portfolio of predominantly European equities, and who want a fund that applies ESG Factors and considers Principal Adverse Impact when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	EUR
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Specific asset class, region or sector
- Smaller companies
- Currency & exchange rate
- Emerging markets
- Liquidity
- Counterparty
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.50% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.00% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| N | Up to 1.50% | 4.00% | - | - | - | 0.05% | 0.15% |

| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| X | 1.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) European Strategic Value Fund
Legal Entity Identifier: 
549300F39NTG0M8EIX97
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a Positive ESG Tilt (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
The Fund maintains a weighted average ESG rating that is either
- higher than that of the equity market as represented by its investment universe; or
- equivalent to at least an MSCI A rating, whichever is lower (“Positive ESG Tilt”).

In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Positive ESG Tilt: Portfolio weighted average ESG score versus investment universe weighted average ESG score or versus the ESG score corresponding to the lowest numerical value of the MSCI A rating.


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process should result in a portfolio with better ESG characteristics. In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The Fund’s ESG Criteria apply to at least:
- 90% of equities issued by large capitalisation companies in developed countries; debt securities, money market instruments with an investment grade credit rating; and sovereign debt issued by developed countries;
- 75% of equities issued by large capitalisation companies in emerging market countries; equities issued by small and mid-capitalisation companies in any country; debt securities and money market instruments with a high yield credit rating; and sovereign debt issued by emerging market countries.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s Positive ESG Tilt;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives are not used to attain the promoted environmental and/or social characteristics.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds and derivatives as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied, other than as set out below.
Derivatives used to take investment exposure to diversified financial indices, and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test. No minimum environmental or social safeguards are applied to FX derivatives.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Global Dividend Fund
Launch Date	18 September 2018
Investment Objective	The Fund has two aims:
- to deliver a higher total return (capital growth plus income) than that of the global equities markets over any five-year period while applying ESG Criteria and;
- to deliver an income stream that increases every year in US Dollar terms.

Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities of companies across any sector and market capitalisation that are domiciled in any country, including emerging markets. The Fund usually holds fewer than 50 stocks.
The Fund may invest in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive ESG Tilt as described in the precontractual annex to this Fund Supplement.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits and warrants.
The Fund may use derivative instruments for the purposes of hedging and efficient portfolio management.
Investment Strategy	Investment Approach
The Fund employs a bottom-up stock picking approach, driven by the financial analysis of individual companies. Dividend yield is not the primary consideration for stock selection.
The Investment Manager aims to create a diversified portfolio with exposure to a broad range of countries and sectors. Stocks with different drivers of dividend growth are selected to construct a portfolio that has the potential to cope in a variety of market conditions.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	MSCI ACWI Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund's portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents and, as a result the Fund’s performance may deviate significantly from the benchmark.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and raising income from a diversified portfolio that invests in a range of companies globally, and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Currency & exchange rate
- Concentrated portfolio
- Emerging markets
- China
- Smaller companies
- Liquidity
- Counterparty
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.75% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.25% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| G | 1.00% | - | - | - | - | 0.05% | 0.15% |
| GI | 1.00% | - | - | - | - | 0.01% | 0.15% |

| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| J | Up to 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| X | 1.75% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Global Dividend Fund
Legal Entity Identifier: 
549300TRK90WIUZI3612
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a Positive ESG Tilt (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
The Fund maintains a weighted average ESG rating that is either
- higher than that of the equity market as represented by its investment universe; or
- equivalent to at least an MSCI A rating, whichever is lower (“Positive ESG Tilt”).

In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Positive ESG Tilt: Portfolio weighted average ESG score versus investment universe weighted average ESG score or versus the ESG score corresponding to the lowest numerical value of the MSCI A rating.


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process should result in a portfolio with better ESG characteristics. In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The Fund’s ESG Criteria apply to at least:
- 90% of equities issued by large capitalisation companies in developed countries; debt securities, money market instruments with an investment grade credit rating; and sovereign debt issued by developed countries;
- 75% of equities issued by large capitalisation companies in emerging market countries; equities issued by small and mid-capitalisation companies in any country; debt securities and money market instruments with a high yield credit rating; and sovereign debt issued by emerging market countries.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s Positive ESG Tilt;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives are not used to attain the promoted environmental and/or social characteristics.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds and derivatives as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied, other than as set out below.
Derivatives used to take investment exposure to diversified financial indices, and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test. No minimum environmental or social safeguards are applied to FX derivatives.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Global Emerging Markets Fund
Launch Date	26 October 2018
Investment Objective  The Fund aims to provide a higher total return (capital growth plus income) than that of the global emerging markets equity market over any five-year period while applying ESG Criteria.
Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities of companies domiciled in, or conducting the major part of their economic activity in, emerging markets.
The Fund may invest in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive ESG Tilt as described in the precontractual annex to this Fund Supplement.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits and warrants.
The Fund may use derivative instruments for the purposes of hedging and efficient portfolio management.
Investment Strategy	Investment Approach
The Fund employs a bottom-up stock picking approach to identify companies whose long- term prospects are, in the Investment Manager’s opinion, being undervalued. The Fund’s approach incorporates three elements: return on capital, valuations and corporate governance.
It is the core belief of the Investment Manager that company-specific financial factors, in particular their profitability (which is measured in terms of return on capital), drive share prices over the long run. The Fund’s country and sector exposure is not influenced by financial top-down views.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	MSCI Emerging Markets Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund's portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents and, as a result, the Fund’s performance may deviate significantly from the benchmark.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income through exposure to emerging markets, and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Emerging markets
- China
- Currency & exchange rate
- Liquidity
- Specific asset class, region or sector
- Smaller companies
- Counterparty
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.75% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.25% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| X | 1.75% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Global Emerging Markets Fund
Legal Entity Identifier: 
54930005JJ2DZTKZDJ63
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a Positive ESG Tilt (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
The Fund maintains a weighted average ESG rating that is either
- higher than that of the equity market as represented by its investment universe; or
- equivalent to at least an MSCI A rating, whichever is lower (“Positive ESG Tilt”).

In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Positive ESG Tilt: Portfolio weighted average ESG score versus investment universe weighted average ESG score or versus the ESG score corresponding to the lowest numerical value of the MSCI A rating.


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process should result in a portfolio with better ESG characteristics. In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The Fund’s ESG Criteria apply to at least:
- 90% of equities issued by large capitalisation companies in developed countries; debt securities, money market instruments with an investment grade credit rating; and sovereign debt issued by developed countries;
- 75% of equities issued by large capitalisation companies in emerging market countries; equities issued by small and mid-capitalisation companies in any country; debt securities and money market instruments with a high yield credit rating; and sovereign debt issued by emerging market countries.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s Positive ESG Tilt;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives are not used to attain the promoted environmental and/or social characteristics.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds and derivatives as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied, other than as set out below.
Derivatives used to take investment exposure to diversified financial indices, and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test. No minimum environmental or social safeguards are applied to FX derivatives.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Global Enhanced Equity Premia Fund
Launch Date	10 December 2019
Investment Objective  The Fund aims to provide a higher total return (the combination of capital growth and income), than that of the global equity market over any five-year period.
Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities of companies across any sector and market capitalisation that are domiciled in any country, including emerging markets.
The Fund may invest in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect.
The Fund may also invest in other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G).
Derivatives may be used for efficient portfolio management and hedging.
Investment Strategy	Investment Approach
The Fund applies a systematic investment approach to select stocks the Investment Manager expects to outperform other companies in the global equity market.
From the Fund’s investible universe, each stock is ranked on five key criteria or ‘Factors’: Value, Quality, Momentum, Volatility and Size. Historically, stocks with exposure to these factors (attractive valuation, high quality, positive momentum, low volatility and small company size) have generated excess returns, or equity premia.
These rankings are then combined to provide a single ‘score’ for each stock. The weighting of each factor in the single score is determined by the Investment Manager and reflects prevailing market conditions. Stocks with high scores are candidates for inclusion in the Fund’s portfolio. Consideration is also given to the sector and country breakdown of the Fund’s comparator benchmark to ensure a diversified portfolio.
As part of the portfolio construction process, differences between the Fund’s characteristics and those of its performance comparator (such as sector, country or risk factor weightings) may be constrained. Managing the Fund in this way limits the magnitude by which the Fund is expected to deviate from the performance comparator.
Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
Benchmark	MSCI ACWI Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark also acts as a constraint on the Fund’s portfolio construction, as certain limits, such as constraints on sector or geographic exposure, may apply at any given time.
The Fund is actively managed. Within the given constraints, the Investment Manager has freedom in choosing which investments to buy, hold and sell in the fund within the constraints defined. The Fund’s portfolio holdings may deviate significantly from the benchmark's constituents.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and raising income from a diversified portfolio that invests in a range of companies globally, but who appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Reference Currency	USD
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Currency & exchange rate
- Emerging markets
- China
- Smaller companies
- Liquidity
- CounterpartyInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 0.40% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 0.90% | - | - | - | - | 0.05% | 0.15% |
| C | 0.15% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.15% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.10% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.10% | - | - | - | - | 0.01% | 0.15% |
| X | 0.40% | - | - | 0.01 | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | - | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.

### M&G (Lux) Global Listed Infrastructure Fund
Launch Date	5 October 2017
Investment Objective	The Fund has two aims:
- to deliver a higher total return (the combination of capital growth and income) than that of the global equities market over any five-year period; and
- to deliver an income stream that increases every year in US Dollar terms. The Fund seeks to deliver its financial objectives while applying ESG Criteria.

Investment Policy	The Fund invests at least 80% of its Net Asset Value in eligible publicly-listed equity securities issued by infrastructure companies, investment trusts and closed-ended real estate investment trusts ("REITs") across any market capitalisation that are domiciled in any country, including emerging markets.
The minimum 80% allocation may include ordinary shares, preference shares and convertible bonds (the Fund may hold up to a maximum of 20% of its Net Asset value in Convertible Bonds). Infrastructure companies include those involved in the following business activities: utilities, energy, transport, health, education, security, communications and transactions. The Fund is expected to exhibit lower volatility and offer a higher dividend yield than the global equities market which is consistent with the characteristics of infrastructure securities. The Fund usually holds fewer than 50 stocks.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and SDG-aligned investing as described in the precontractual annex to this Fund Supplement.
The Fund may invest in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect.
The Fund may also invest in other assets including collective investment schemes, other transferable securities, cash and near cash, deposits and warrants. The Fund may use derivative instruments for the purposes of hedging and efficient portfolio management.
Investment Strategy	Investment Approach
The Fund employs a bottom-up stock picking approach, driven by the fundamental analysis of individual companies. Dividend yield is not the primary consideration for stock selection.
The Investment Manager aims to create a diversified portfolio with exposure to a broad range of countries and sectors. Stocks with different drivers of dividend growth are selected to construct a portfolio that has the potential to cope in a variety of market conditions.
The Investment Manager seeks to invest in companies with excellent capital discipline and the potential for long-term dividend growth. The Investment Manager believes rising dividends create upward pressure on the value of shares.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / Sustainable.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	MSCI ACWI Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund's portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and rising income from a diversified equity portfolio that invests in the publicly-listed equity securities issued by infrastructure companies, investment trusts and REITs across any market capitalisation that are domiciled in any country and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objectives. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Class
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Currency & exchange rate
- Concentrated portfolio
- Emerging markets
- China
- Specific asset class, region or sector
- Smaller companies
- Convertible bonds
- Liquidity
- Counterparty
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.75% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.25% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| L | 0.50% | 1.25% | - | - | - | 0.05% | 0.15% |
| LI | 0.50% | 1.25% | - | - | - | 0.01% | 0.15% |
| N | Up to 1.75% | 4.00% | - | - | - | 0.05% | 0.15% |
| X | 1.75% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Global Listed Infrastructure Fund
Legal Entity Identifier: 
222100K85SU14IF7PW30
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 51% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and that it makes investments that are SDG-aligned (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society and to assist it in delivering more sustainable outcomes (“Exclusionary Approach”).
The Fund considers the UN Sustainable Development Goals (SDGs) as part of its investment process and the sustainability themes considered by the Investment Manager are based on the SDGs as a relevant framework to measure contribution to sustainability factors (“SDG-alignment”). At least 70% of the Fund’s investments by value will be in investments considered by the Investment Manager to be related to sustainability themes.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- SDG-alignment: Percentage (%) of investments by value that is SDG-aligned


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Sustainability considerations, encompassing ESG factors, are fully integrated into analysis and investment decisions, and play an important role in determining the investment universe and portfolio construction. The Fund considers the UN Sustainable Development Goals (SDGs) as part of its investment process and the sustainability themes considered by the Investment Manager are based on the SDGs as a relevant framework to measure contribution to sustainability factors (“SDG-alignment”).
In doing so, the Investment Manager assesses investee companies as “relating to a sustainability theme” if at least 50% of its revenue is SDG-aligned. For the avoidance of doubt this assessment can include alignment to more than one SDG as part of a broader theme. At least 70% of the Fund’s investments by value will be in investments considered by the Investment Manager to be related to sustainability themes. In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the Investment Policy are screened out.
- The Investment Manager then identifies the companies that are considered suitable for further analysis. The Investment Manager analyses these companies from an ESG perspective using a proprietary infrastructure sector-specific quality assessment. This includes an assessment of ESG Factors, alongside other financial and operational characteristics. Following the ESG-related quality assessment, the Investment Manager then quantifies ESG risks for these companies, to determine whether these have been accounted for in a company’s valuation.
- From this narrowed investment universe, the Investment Manager then performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics as set out in the section ""What is the asset allocation planned for this financial product?""; and
- Minimum levels of sustainable investments as set out in the section ""What is the asset allocation planned for this financial product?"".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
20%
Whilst any commitment on the minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy as a result of the Fund’s exclusions is intended to be binding, as this is calculated by considering the Fund’s exclusions against a proxy for the investment universe (such as a financial index) outside the control of the Investment Manager, and as additional exclusions will require an update of fund materials, it is possible that the Fund may temporarily be out of compliance with this commitment.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the fund to be aligned to the promoted E/S characteristics. At least 51% of the fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives are not used to attain the promoted environmental and/or social characteristics.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds and derivatives as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied, other than as set out below.
Derivatives used to take investment exposure to diversified financial indices, and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test. No minimum environmental or social safeguards are applied to FX derivatives.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics. It is also possible that the Fund may hold investments that are not in line with the promoted characteristics, e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Global Maxima Fund
Launch Date	11 December 2019
Investment Objective  The Fund aims to deliver a higher total return (the combination of capital growth and income) than that of the global equity market over any five-year period.
Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities of companies across any sector and market capitalisation that are domiciled in any country, including emerging markets.
The Fund may invest in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect or, as from 1 February 2023 the QFI status granted to the Investment Manager.
The Fund may also invest in other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G).
Derivatives may be used for efficient portfolio management and hedging.
Investment Strategy	Investment Approach
The Fund systematically employs a bottom-up stock picking approach, driven by quantitative analysis of individual companies. The Investment Manager uses proprietary data analysis and machine learning techniques to help identify stocks that are expected to outperform the global equity market and as a result, maximise the Fund’s outperformance.
From the Fund’s investable universe, each stock is assessed based on its likelihood of outperforming the global equity market. The Investment Manager then uses these assessments to determine which stocks to include in the portfolio.
Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
Performance Comparator
MSCI ACWI Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund's portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and raising income from a diversified portfolio that invests in a range of companies globally, but who appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Currency & exchange rate
- Concentrated portfolio
- Emerging markets
- China
- Smaller companies
- Liquidity
- CounterpartyInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.75% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.25% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| E | 0.65% | 1.25% | - | - | - | 0.05% | 0.15% |
| EI | 0.65% | - | - | - | - | 0.01% | 0.15% |
| X | 1.75% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | - | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
No Administration Charge is charged to Z and ZI Share Classes. All the fees and charges allocated to these Classes are administratively levied and collected directly from the investor by the Management Company.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.

### M&G (Lux) Global Sustain Paris Aligned Fund
Launch Date	9 November 2018
Investment Objective	The Fund has two aims:
- Financial objective: to provide a higher total return (capital growth plus income) than that of the global equity market over any five-year period; and
- Sustainable objective: to invest in companies that contribute towards the Paris Agreement climate change goal.

Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities of sustainable companies across any sector and market capitalisation that are domiciled in any country, including emerging markets. The Fund has a concentrated portfolio of usually fewer than 40 companies.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive ESG Outcome, in addition to its sustainable investment strategy used in pursuit of the sustainable investment objective, as described in the precontractual annex to this Fund Supplement.
The Fund may also invest indirectly via funds (i.e. UCITS and other UCIs including funds managed by M&G), and may invest in other transferable securities such as short dated bonds and money market instruments for liquidity management, cash, and near cash.
The Fund may use derivatives for efficient portfolio management and hedging.
Investment Strategy	Investment Approach
The Fund is a focused core global equity fund, making long-term investments in sustainable companies which contribute to the long-term global warming objectives of the Paris Agreement, by either having a Low and/or a Reducing Carbon Intensity, as explained in the precontractual annex to this Fund Supplement.
These companies need to demonstrate sustainable business models competitively positioned to protect their profitability. Importantly, the Investment Manager invests in businesses where short-term issues have provided a clear valuation opportunity.
The Fund employs a bottom-up stock picking approach, driven by the fundamental analysis of individual companies.
The Investment Manager believes that this approach offers a powerful combination, providing the long-term compounded value of quality businesses, as well as the potential boost to a company’s share price when a short-term issue has been resolved.
The Investment Manager selects the most suitable assets to build a concentrated and high- conviction portfolio.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / Sustainable.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 9 fund under SFDR, and information about its sustainable investment is described in the precontractual annex to this Fund Supplement.
Benchmark	MSCI World Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s financial objective.
The benchmark is also used to define a Low Carbon Intensity company. The Investment Manager considers the Fund’s weighted average carbon intensity against the benchmark when constructing the portfolio, but the benchmark does not otherwise constrain the Fund's portfolio construction.
The Fund is actively managed and within given constraints, the Investment Manager has freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents, and as a result the Fund’s performance may deviate materially from the benchmark.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking a combination of capital growth and income from a portfolio that invests in a range of companies globally, that contribute to the Paris Agreement climate change goal and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Emerging markets
- Currency & exchange rate
- Concentrated portfolio
- Smaller companies
- Liquidity
- Counterparty
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.75% | 5.00% | - | - | - | 0.05% | 0.15% |
| B | 2.25% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| X | 1.75% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 3.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 9, paragraphs 1 to 4a, of Regulation (EU) 2019/2088 and Article 5, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Global Sustain Paris Aligned Fund
Legal Entity Identifier: 
549300IT0OLV3HDN7Z63
Sustainable investment objective
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective: 80%
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What is the sustainable investment objective of this financial product?
Sustainability indicators measure how the sustainable objective of this financial product are attained.
To invest in companies that contribute towards the Paris Agreement climate change goal.

######  What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product?
Fund level sustainability indicators:
- Percentage (%) of NAV committed to Science-Based Targets (SBTs)
- Percentage (%) of NAV with ratified Science-Based Targets
- Percentage (%) of NAV participating in Task Force on Climate-Related Financial Disclosures (TCFD) reporting
- Total renewable energy produced (megawatt hours)
- The weighted average carbon intensity (WACI) of the Fund relative to the WACI for the investment universeSecurity level sustainability indicators:
- Avoided carbon emissions – for companies that provide direct solutions to the climate challenge via their products and servicesPrincipal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.


######  How do sustainable investments not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful.
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas).
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investment.

How have the indicators for adverse impacts on sustainability factors been taken into account?
The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
The Fund invests in Low Carbon Intensity Companies and Reducing Carbon Intensity Companies.
Low Carbon Intensity Companies have a carbon intensity lower than 50% of the weighted average carbon intensity of the Fund’s investment universe, and an ongoing commitment to decarbonisation.
Reducing Carbon Intensity Companies have science based targets aligned with the Paris Agreement or have committed to have them in place within a defined time period, and an ongoing commitment to decarbonisation.
The Fund also considers non-mandatory factors such as whether companies are providing solutions to the climate change challenge.
The Fund will typically have a weighted average carbon intensity of less than half of its investment universe (“Positive ESG Outcome”).
Sustainability considerations, encompassing ESG factors, are fully integrated into analysis and investment decisions, and play an important role in determining the investment universe and portfolio construction.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then assesses the sustainability credentials of the remaining companies. Potential investments are identified by reference to their carbon intensity and whether they provide solutions to the climate change challenge. The Investment Manager analyses these companies using internal and external research, combining qualitative and quantitative methods with an assessment of ESG Factors to build a watchlist of companies assessed to have sustainable business models.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective. The Investment Manager favours issuers with lower carbon intensity where this is not detrimental to the pursuit of the investment objective. This process typically results in a portfolio with lower carbon intensity than less than half of its investment universe. In constructing a portfolio which favours investments with lower carbon intensity, the Investment Manager may nonetheless invest in investments across the full spectrum of carbon intensity. The Fund’s calculation methodology does not include those securities that do not have carbon intensity data respectively, or cash, near cash, some derivatives and some collective investment schemes.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain the sustainable investment objective?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s asset allocation, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?". Please note that the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy is non-binding where the reason for holding less than such minimum is because Taxonomy-aligned investments are held instead (as all such investments are sustainable investments with environmental objectives).

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates data driven quantitative good governance tests used to consider investments into companies. The Investment Manager excludes investments in securities that are considered as failing the Investment Manager’s good governance tests. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation and the minimum share of sustainable investments?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 80% of the Fund to be invested in environmental sustainable investments, in pursuit of the environmental sustainable investment objective.
The Fund is not required to favour any specific type of environmental sustainable investment.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Sustainable
#2 Not sustainable
Environmental
Taxonomy-aligned
Other
#1 Sustainable covers sustainable investments with environmental or social objectives.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Not sustainable includes investments which do not qualify as sustainable investments.

######  How does the use of derivatives attain the sustainable investment objective?
Derivatives are not used to attain the sustainable investment objective.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
80%

###### What is the minimum share of sustainable investments with a social objective?
0%

###### What investments are included under “#2 Not sustainable”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, and derivatives as “Other” investments, for hedging purposes or in connection with cash held for ancillary liquidity. No minimum environmental or social safeguards are applied, other than as stated below.
Where derivatives are used to take investment exposure to diversified financial indices, these will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
It is also possible that the Fund may hold investments that are not in line with the sustainable investment objective, e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to meet the sustainable investment objective?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Global Themes Fund
Launch Date Investment Objective
19 March 2019
The Fund aims to provide a higher total return (capital growth plus income) than that of the global equity market over any rolling five-year period while applying ESG Criteria.
Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities and equity related instruments of companies across any sector and market capitalisation that are domiciled in any country, including emerging markets.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive ESG Tilt as described in the precontractual annex to this Fund Supplement.
The Fund may also invest indirectly via funds (i.e. UCITS and other UCIs including funds managed by M&G) and may invest in other transferable securities such as short dated bonds and money market instruments for liquidity management, cash and near cash.
The Fund may invest in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect.
Derivatives may be used for Efficient Portfolio Management and hedging.
Investment Strategy	Investment Approach
The investment approach combines thematic research and financial analysis of individual companies. The Investment Manager aims to identify long-term themes driven by structural trends, and selects companies that can benefit from these structural changes. The Investment Manager seeks to identify well-managed companies whose long-term prospects are not fully appreciated by the stock market. The Fund aims to be diversified across a broad range of countries and sectors.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+/ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	MSCI ACWI Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund's portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents and as a result the Fund’s performance may deviate significantly from the benchmark.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income from a portfolio that invests in a range of companies globally and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objectives. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Currency & exchange rate
- Emerging markets
- China
- Specific asset class, region or sector
- Smaller companies
- Liquidity
- Counterparty
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.75% | 5.00% | - | - | - | 0.05% | 0.15% |
| B | 2.25% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| X | 1.75% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 3.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Global Themes Fund
Legal Entity Identifier: 
2549003Q1RX8JB20XW74
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a Positive ESG Tilt (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society (“Exclusionary Approach”).
Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
The Fund maintains a weighted average ESG rating that is either:
- higher than that of the equity market as represented by its investment universe; or
- equivalent to at least an MSCI A rating, whichever is lower (“Positive ESG Tilt”).

In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings.
At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Positive ESG Tilt: Portfolio weighted average ESG score versus investment universe weighted average ESG score or versus the ESG score corresponding to the lowest numerical value of the MSCI A rating.


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process should result in a portfolio with better ESG characteristics. In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The Fund’s ESG Criteria apply to at least:
- 90% of equities issued by large capitalisation companies in developed countries; debt securities, money market instruments with an investment grade credit rating; and sovereign debt issued by developed countries;
- 75% of equities issued by large capitalisation companies in emerging market countries; equities issued by small and mid-capitalisation companies in any country; debt securities and money market instruments with a high yield credit rating; and sovereign debt issued by emerging market countries.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s Positive ESG Tilt;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
20%
Whilst any commitment on the minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy as a result of the Fund’s exclusions is intended to be binding, as this is calculated by considering the Fund’s exclusions against a proxy for the investment universe (such as a financial index) outside the control of the Investment Manager, and as additional exclusions will require an update of fund materials, it is possible that the Fund may temporarily be out of compliance with this commitment.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives are not used to attain the promoted environmental and/or social characteristics.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds and derivatives as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied, other than as set out below.
Derivatives used to take investment exposure to diversified financial indices, and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test. No minimum environmental or social safeguards are applied to FX derivatives.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Japan Fund
Launch Date	26 October 2018
Investment Objective	The Fund aims to provide a higher total return (capital growth plus income) than that of the Japanese equity market over any five-year period while applying ESG Criteria.
Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities of companies that are domiciled in, or conducting the major part of their economic activity in, Japan. The Fund usually holds fewer than 50 stocks.
The Investment Manager believes that market mispricings can and often do occur because psychological factors (i.e. behavioural biases) may prevent investors from always assessing investments rationally. As a result, market prices do not always reflect fundamental values.
The Investment Manager believes that it is possible to profit systematically from such behavioural biases that are prevalent in the Japanese equity market.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive ESG Tilt as described in the precontractual annex to this Fund Supplement.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits and warrants.
The Fund may use derivative instruments for the purposes of hedging and efficient portfolio management.
Investment Strategy	Investment Approach
The Investment Manager aims to take advantage of market mispricings by adopting a disciplined, long-term investment approach. The Fund screens a wide investment universe to form a focused list of stocks which will trade on low valuations relative to their history and the market. These companies are then subject to disciplined and rigorous financial analysis. Attaining an understanding of a company’s sustainable earnings ensures our financial analysis leads to a high level of conviction for each of the companies held in the Fund.
The Investment Manager aims to construct a reasonably diversified portfolio and expects stock selection to be the main driver of performance.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	MSCI Japan Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents and, as a result, the Fund’s performance may deviate significantly from the benchmark.
The benchmark is shown in the share class currency.
Profile of Typical Investor  The Fund may be suitable for retail and Institutional Investors seeking long-term capital growth and income through investment in Japanese securities and want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	JPY
Currency Hedged Share Class
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Currency & exchange rate
- Concentrated portfolio
- Specific asset class, region or sector
- Smaller companies
- Liquidity
- Counterparty
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.50% | 5.00% | - | - | - | 0.05% | 0.15% |
| B | 2.00% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| L | 0.35% | 1.25% | - | - | - | 0.05% | 0.15% |
| LI | 0.35% | 1.25% | - | - | - | 0.01% | 0.15% |
| X | 1.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 3.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Japan Fund
Legal Entity Identifier: 
549300OR1ZG2XAP7AU07
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a Positive ESG Tilt (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
The Fund maintains a weighted average ESG rating that is either
- higher than that of the equity market as represented by its investment universe; or
- equivalent to at least an MSCI A rating, whichever is lower (“Positive ESG Tilt”)In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.

Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Positive ESG Tilt: Portfolio weighted average ESG score versus investment universe weighted average ESG score or versus the ESG score corresponding to the lowest numerical value of the MSCI A rating.


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process should result in a portfolio with better ESG characteristics. In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The Fund’s ESG Criteria apply to at least:
- 90% of equities issued by large capitalisation companies in developed countries; debt securities, money market instruments with an investment grade credit rating; and sovereign debt issued by developed countries;
- 75% of equities issued by large capitalisation companies in emerging market countries; equities issued by small and mid-capitalisation companies in any country; debt securities and money market instruments with a high yield credit rating; and sovereign debt issued by emerging market countries.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s Positive ESG Tilt;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?"Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.


######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test.
When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives are not used to attain the promoted environmental and/or social characteristics.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds and derivatives as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied, other than as set out below.
Derivatives used to take investment exposure to diversified financial indices, and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test. No minimum environmental or social safeguards are applied to FX derivatives.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Japan Smaller Companies Fund
Launch Date	26 October 2018
Investment Objective  The Fund aims to provide a higher total return (capital growth plus income) than that of the Japanese Smaller Companies equity market over any five-year period while applying ESG Criteria.
Investment Policy	The Fund invests at least 80% of its Net Asset Value in equity securities of smaller companies that are incorporated, domiciled, or do most of their business in Japan.
Smaller companies are defined as the bottom half in terms of total market capitalisation of all publicly listed companies in Japan.
The Fund usually holds a concentrated portfolio of fewer than 50 companies.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive ESG Tilt as described in the precontractual annex to this Fund Supplement.
The Fund may also invest in other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G).
Derivatives may be used for efficient portfolio management and hedging.
Investment Strategy	Investment Approach
The Fund employs a disciplined approach to investment which concentrates on the analysis and selection of individual companies.
The investment approach filters the Fund’s investment universe down to a focused list of
companies whose shares trade on low valuations relative to their history and the market.
These companies are then subject to rigorous financial analysis to attain an understanding of a company’s sustainable earnings. This financial analysis leads to a high level of conviction for each of the companies held in the Fund.
The Investment Manager expects stock selection to be the main driver of performance.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	Russell/Nomura Mid-Small Cap Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents and, as a result, the Fund’s performance may deviate significantly from the benchmark.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking long-term capital growth and income through investment in smaller capitalisation Japanese securities. The Fund is suitable for investors who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	JPY
Currency Hedged Share Class
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Currency & exchange rate
- Concentrated portfolio
- Specific asset class, region or sector
- Smaller companies
- Liquidity
- Counterparty
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.50% | 5.00% | - | - | - | 0.05% | 0.15% |
| B | 2.00% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| X | 1.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 3.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Japan Smaller Companies Fund
Legal Entity Identifier: 
549300QUHQWF3GEVSU46
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a Positive ESG Tilt (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
The Fund maintains a weighted average ESG rating that is either
- higher than that of the equity market as represented by its investment universe; or
- equivalent to at least an MSCI A rating, whichever is lower (“Positive ESG Tilt”).

In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Positive ESG Tilt: Portfolio weighted average ESG score versus investment universe weighted average ESG score or versus the ESG score corresponding to the lowest numerical value of the MSCI A rating.


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process should result in a portfolio with better ESG characteristics. In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The Fund’s ESG Criteria apply to at least:
- 90% of equities issued by large capitalisation companies in developed countries; debt securities, money market instruments with an investment grade credit rating; and sovereign debt issued by developed countries;
- 75% of equities issued by large capitalisation companies in emerging market countries; equities issued by small and mid-capitalisation companies in any country; debt securities and money market instruments with a high yield credit rating; and sovereign debt issued by emerging market countries.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s Positive ESG Tilt;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives are not used to attain the promoted environmental and/or social characteristics.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds and derivatives as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied, other than as set out below.
Derivatives used to take investment exposure to diversified financial indices, and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test. No minimum environmental or social safeguards are applied to FX derivatives.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) North American Dividend Fund
Launch Date	9 November 2018
Investment Objective	The Fund has two aims:
- to deliver a higher total return (capital growth plus income) than that of the US equity market over any five-year period while applying ESG Criteria; and
- to deliver an income stream that increases every year in US Dollar terms.

Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities of companies across any sector and market capitalisation that are domiciled in, or conducting the major part of their economic activity in, the US and Canada. The Fund usually holds fewer than 50 stocks.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive ESG Tilt as described in the precontractual annex to this Fund Supplement.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits and warrants.
The Fund may use derivative instruments for the purposes of hedging and efficient portfolio management.
Investment Strategy  The Fund employs a bottom-up stock picking approach, driven by the financial analysis of individual companies. Dividend yield is not the primary consideration for stock selection.
The Investment Manager aims to create a diversified portfolio with exposure to a broad range of sectors. Stocks with different drivers of dividend growth are selected to construct a portfolio that has the potential to cope in a variety of market conditions.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	S&P 500 Net Total Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents and, as a result, the Fund’s performance may deviate significantly from the benchmark.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and rising income from a diversified equity portfolio that invests in a range of companies in North America and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes seek to reduce the exposure of the holders of hedged Classes to
movements in the material currencies within the Fund’s portfolio.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Specific asset class, region or sector
- Concentrated portfolio
- Currency & exchange rate
- Smaller companies
- Liquidity
- Counterparty
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.50% | 5.00% | - | - | - | 0.05% | 0.15% |
| B | 2.00% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| X | 1.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 3.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) North American Dividend Fund
Legal Entity Identifier: 
5493009NGVBL2IPQZP65
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a Positive ESG Tilt (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
The Fund maintains a weighted average ESG rating that is either
- higher than that of the equity market as represented by its investment universe; or
- equivalent to at least an MSCI A rating, whichever is lower (“Positive ESG Tilt”).

In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Positive ESG Tilt: Portfolio weighted average ESG score versus investment universe weighted average ESG score or versus the ESG score corresponding to the lowest numerical value of the MSCI A rating.


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process should result in a portfolio with better ESG characteristics. In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The Fund’s ESG Criteria apply to at least:
- 90% of equities issued by large capitalisation companies in developed countries; debt securities, money market instruments with an investment grade credit rating; and sovereign debt issued by developed countries;
- 75% of equities issued by large capitalisation companies in emerging market countries; equities issued by small and mid-capitalisation companies in any country; debt securities and money market instruments with a high yield credit rating; and sovereign debt issued by emerging market countries.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s Positive ESG Tilt;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives are not used to attain the promoted environmental and/or social characteristics.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds and derivatives as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied, other than as set out below.
Derivatives used to take investment exposure to diversified financial indices, and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test. No minimum environmental or social safeguards are applied to FX derivatives.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) North American Value Fund
Launch Date	9 November 2018
Investment Objective  The Fund aims to provide a higher total return (capital growth plus income) than that of the US equity market over any five-year period while applying ESG Criteria.
Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities of companies across any sector and market capitalisation that are domiciled in, or conducting the major part of their economic activity in, the US and Canada.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive ESG Tilt as described in the precontractual annex to this Fund Supplement.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits and warrants.
The Fund may use derivative instruments for the purposes of hedging and efficient portfolio management.
Investment Strategy	Investment Approach
The Fund employs a bottom-up stock picking approach to identify shares of North American companies that the Investment Manager believes are undervalued. The Investment Manager seeks to identify companies that are mispriced, while trying to avoid firms that are cheap for a reason and whose share prices are unlikely to improve over time.
The Fund’s approach combines strict value-focused screening with rigorous qualitative analysis to ensure the Fund has a consistent and disciplined value bias, without compromising on the robustness of the companies in the portfolio.
The main driver of returns is expected to be the value style and overall stock selection rather than any individual sector or stock.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	S&P 500 Net Total Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents and, as a result, the Fund’s performance may deviate significantly from the benchmark.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking long term capital growth and income from a diversified equity portfolio that invests in a range of companies in North America and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share classes
Currency Hedged Share Classes seek to reduce the exposure of the holders of hedged Share
Classes to movements in the material currencies within the Fund’s portfolio.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Specific asset class, region or sector
- Currency & exchange rate
- Smaller companies
- Liquidity
- Counterparty
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.50% | 5.00% | - | - | - | 0.05% | 0.15% |
| B | 2.00% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| X | 1.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 3.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) North American Value Fund
Legal Entity Identifier: 
549300JHS93E10IP4365
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a Positive ESG Tilt (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society (“Exclusionary Approach”).
Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
The Fund maintains a weighted average ESG rating that is either
- higher than that of the equity market as represented by its investment universe; or
- equivalent to at least an MSCI A rating, whichever is lower (“Positive ESG Tilt”).

In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Positive ESG Tilt: Portfolio weighted average ESG score versus investment universe weighted average ESG score or versus the ESG score corresponding to the lowest numerical value of the MSCI A rating.


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund. Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process should result in a portfolio with better ESG characteristics. In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The Fund’s ESG Criteria apply to at least:
- 90% of equities issued by large capitalisation companies in developed countries; debt securities, money market instruments with an investment grade credit rating; and sovereign debt issued by developed countries;
- 75% of equities issued by large capitalisation companies in emerging market countries; equities issued by small and mid-capitalisation companies in any country; debt securities and money market instruments with a high yield credit rating; and sovereign debt issued by emerging market countries.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s Positive ESG Tilt;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?"Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.


######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test.
When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives are not used to attain the promoted environmental and/or social characteristics.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds and derivatives as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied, other than as set out below.
Derivatives used to take investment exposure to diversified financial indices, and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test. No minimum environmental or social safeguards are applied to FX derivatives.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Pan European Sustain Paris Aligned Fund
Launch Date	9 November 2018
Investment Objective	The Fund has two aims:
- Financial objective: to provide a higher total return (capital growth plus income) than that of the European equity market over any five-year period; and
- Sustainable objective: to invest in companies that contribute towards the Paris Agreement climate change goal.

Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities of sustainable companies across any sectors and market capitalisations that are domiciled in, or conducting the major part of their economic activity in, Europe. The Fund has a concentrated portfolio of usually fewer than 35 companies.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive ESG Outcome, in addition to its sustainable investment strategy used in pursuit of the sustainable investment objective, as described in the precontractual annex to this Fund Supplement.
The Fund may also invest indirectly via funds (i.e. UCITS and other UCIs including funds managed by M&G), and may invest in other transferable securities such as short dated bonds and money market instruments for liquidity management, cash, and near cash.
The Fund may use derivatives for efficient portfolio management and hedging.
Investment Strategy	Investment Approach
The Fund is a focused European equity fund, making long-term investments in sustainable companies which contribute to the long-term global warming objectives of the Paris Agreement, by either having a Low and/or a Reducing Carbon Intensity, as explained in the precontractual annex to this Fund Supplement.
These companies need to demonstrate sustainable business models competitively positioned to protect their profitability.
Importantly, the Investment Manager invests in businesses where short-term issues have provided a clear valuation opportunity.
The Fund employs a bottom-up stock picking approach, driven by the fundamental analysis of individual companies.
The Investment Manager believes that this approach offers a powerful combination, providing the long-term compounded value of quality businesses, as well as the potential boost to a company’s share price when a short-term issue has been resolved.
The Investment Manager selects the most suitable assets to build a concentrated and high- conviction portfolio.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / Sustainable.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 9 fund under SFDR, and information about its sustainable investment is described in the precontractual annex to this Fund Supplement.
Benchmark	MSCI Europe Net Return Index
The benchmark is a comparator against which the Fund’s total return performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the Fund’s financial objective. The benchmark is also used to define a Low Carbon Intensity company. The Investment Manager considers the Fund’s weighted average carbon intensity against the benchmark when constructing the portfolio, but the benchmark does not otherwise constrain the Fund’s portfolio construction.
The Fund is actively managed and within given constraints, the Investment Manager has freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents, and as a result the Fund’s performance may deviate materially from the benchmark.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking a combination of capital growth and income from a portfolio that invests in a range of European companies, that contribute to the Paris Agreement climate change goal and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	EUR
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a semi-annually basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Specific asset class, region or sector
- Concentrated portfolio
- Currency & exchange rate
- Smaller companies
- Liquidity
- Counterparty
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.50% | 5.00% | - | - | - | 0.05% | 0.15% |
| B | 2.00% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 3.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| X | 1.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 3.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 9, paragraphs 1 to 4a, of Regulation (EU) 2019/2088 and Article 5, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Pan European Sustain Paris Aligned Fund
Legal Entity Identifier: 
549300P77Z28WJUYV459
Sustainable investment objective
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective: 80%
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What is the sustainable investment objective of this financial product?
Sustainability indicators measure how the sustainable objective of this financial product are attained.
To invest in companies that contribute towards the Paris Agreement climate change goal.

######  What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product?
Fund level sustainability indicators:
- Percentage (%) of NAV committed to Science-Based Targets (SBTs)
- Percentage (%) of NAV with ratified Science-Based Targets
- Percentage (%) of NAV participating in Task Force on Climate-Related Financial Disclosures (TCFD) reporting
- Total renewable energy produced (megawatt hours)
- The weighted average carbon intensity (WACI) of the Fund relative to the WACI for the investment universeSecurity level sustainability indicators:
- Avoided carbon emissions – for companies that provide direct solutions to the climate challenge via their products and servicesPrincipal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.


######  How do sustainable investments not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful.
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas).
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investment.

How have the indicators for adverse impacts on sustainability factors been taken into account?
The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund. Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
The Fund invests in Low Carbon Intensity Companies and Reducing Carbon Intensity Companies.
Low Carbon Intensity Companies have a carbon intensity lower than 50% of the weighted average carbon intensity of the Fund’s investment universe, and an ongoing commitment to decarbonisation.
Reducing Carbon Intensity Companies have science based targets aligned with the Paris Agreement or have committed to have them in place within a defined time period, and an ongoing commitment to decarbonisation.
The Fund also considers non-mandatory factors such as whether companies are providing solutions to the climate change challenge.
The Fund will typically have a weighted average carbon intensity of less than half of its investment universe (“Positive ESG Outcome”).
Sustainability considerations, encompassing ESG factors, are fully integrated into analysis and investment decisions, and play an important role in determining the investment universe and portfolio construction.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then assesses the sustainability credentials of the remaining companies. Potential investments are identified by reference to their carbon intensity and whether they provide solutions to the climate change challenge. The Investment Manager analyses these companies using internal and external research, combining qualitative and quantitative methods with an assessment of ESG Factors to build a watchlist of companies assessed to have sustainable business models.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective. The Investment Manager favours issuers with lower carbon intensity where this is not detrimental to the pursuit of the investment objective. This process typically results in a portfolio with lower carbon intensity than less than half of its investment universe. In constructing a portfolio which favours investments with lower carbon intensity, the Investment Manager may nonetheless invest in investments across the full spectrum of carbon intensity. The Fund’s calculation methodology does not include those securities that do not have carbon intensity data respectively, or cash, near cash, some derivatives and some collective investment schemes.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain the sustainable investment objective?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s asset allocation, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?". Please note that the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy is non-binding where the reason for holding less than such minimum is because Taxonomy-aligned investments are held instead (as all such investments are sustainable investments with environmental objectives).

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates data driven quantitative good governance tests used to consider investments into companies. The Investment Manager excludes investments in securities that are considered as failing the Investment Manager’s good governance tests. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation and the minimum share of sustainable investments?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 80% of the Fund to be invested in environmental sustainable investments, in pursuit of the environmental sustainable investment objective.
The Fund is not required to favour any specific type of environmental sustainable investment.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Sustainable
#2 Not sustainable
Environmental
Taxonomy-aligned
Other
#1 Sustainable covers sustainable investments with environmental or social objectives.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Not sustainable includes investments which do not qualify as sustainable investments.

######  How does the use of derivatives attain the sustainable investment objective?
Derivatives are not used to attain the sustainable investment objective.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
80%

###### What is the minimum share of sustainable investments with a social objective?
0%

###### What investments are included under “#2 Not sustainable”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, and derivatives as “Other” investments, for hedging purposes or in connection with cash held for ancillary liquidity. No minimum environmental or social safeguards are applied, other than as stated below.
Where derivatives are used to take investment exposure to diversified financial indices, these will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
It is also possible that the Fund may hold investments that are not in line with the sustainable investment objective, e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to meet the sustainable investment objective?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Positive Impact Fund
Launch Date	29 November 2018
Investment Objective	The Fund has two aims:
- Financial objective: to provide a higher total return (the combination of capital growth and income) than that of the global equity market over any five-year period; and
- Impact objective: to invest in companies that have a positive societal impact throughaddressing the world’s major social and/or environmental challenges.

Investment Policy	The Fund invests at least 80% of its Net Asset Value in the equity securities of companies across any sector and market capitalisation that are domiciled in any country, including emerging markets. The Fund has a concentrated portfolio and usually holds fewer than 40 stocks.
The Fund invests in securities that meet the ESG Criteria, applying an exclusionary approach, in addition to its sustainable investment strategy used in pursuit of the sustainable investment objective, as described in the precontractual annex to this Fund Supplement.
The Fund may invest in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect.
The Fund may also invest in other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G).
Derivatives may be used for efficient portfolio management and hedging.
Investment Strategy	Investment Approach
The Fund is a concentrated portfolio of global stocks, investing over the long term in companies that make a positive social and/or environmental impact alongside a financial return, using a disciplined stock selection process.
The Investment Manager selects the most suitable assets from the watchlist to build a high- conviction portfolio diversified across impact areas as explained in the precontractual annex to this Fund Supplement.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / Impact.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 9 fund under SFDR, and information about its sustainable investment is described in the precontractual annex to this Fund Supplement.
Benchmark	MSCI ACWI Net Return Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the Fund’s financial objective. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking a combination of capital growth and income by investing in a portfolio of shares of companies from anywhere in the world that aim to have a positive societal impact and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objectives. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Concentrated portfolio
- Emerging markets
- China
- Smaller companies
- Currency & exchange rate
- Liquidity
- Counterparty
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.75% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.25% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| L | 0.30% | 1.25% | - | - | - | 0.05% | 0.15% |
| LI | 0.30% | 1.25% | - | - | - | 0.01% | 0.15% |
| N | Up to 1.75% | 4.00% | - | - | - | 0.05% | 0.15% |
| X | 1.75% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 9, paragraphs 1 to 4a, of Regulation (EU) 2019/2088 and Article 5, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Positive Impact Fund
Legal Entity Identifier: 
549300XGF5HHUXGRO059
Sustainable investment objective
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective: 30%
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective: 30%
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What is the sustainable investment objective of this financial product?
Sustainability indicators measure how the sustainable objective of this financial product are attained.
To invest in companies that have a positive societal impact through addressing the world’s major social and/or environmental challenges.

######  What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product?
Fund level sustainability indicators:
- Weighted average carbon intensity (WACI)
- Percentage (%) of NAV committed to Science-Based Targets (SBTs)
- Percentage (%) of NAV with ratified Science-Based Targets
- Percentage (%) of CO2 emissions with Science-Based Targets
- Percentage (%) of NAV participating in Task Force on Climate-Related Financial Disclosures (TCFD) reporting
- Percentage (%) of NAV in Climate Solutions companies
- Percentage (%) of NAV in Circular Economy solutions companies
- Percentage (%) of NAV in investments providing environmental solutions
- Percentage (%) of positive impact assets in the Fund
- Percentage (%) of NAV aligned with any of the 17 United Nations Sustainable Development Goals (“SDGs”), which include a range of environmental and social objectives.

In addition, for each investment considered to be SDG-aligned, the Investment Manager will assess the strength of contribution to the relevant SDG(s).
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do sustainable investments not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful.
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas).
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investment.

How have the indicators for adverse impacts on sustainability factors been taken into account?
The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund. Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
The Fund invests in companies that deliver solutions to address some of the world’s major social and/or environmental challenges.
These can be understood by reference to the United Nations Sustainable Development Goals framework as companies which are focused on sustainable development goals such as No Poverty; Zero Hunger; Good Health and Well-being; Quality Education; Gender Equality; Clean Water and Sanitation; Affordable and Clean Energy; Decent Work and Economic Growth; Industry, Innovation and Infrastructure; Reduced Inequalities; Sustainable Cities and Communities; Responsible Consumption and Production; Climate Action; Life below Water; Life on Land; Peace, Justice and Strong Institutions; Partnerships for the Goals; and other companies which the Investment Manager considers appropriate to invest in, in pursuit of the impact objective. These companies are assessed using the Investment Manager’s impact assessment methodology (“Impact Methodology”) described below.
The Impact Methodology focuses on three criteria:
- Investment Credentials: the quality and durability of the company’s business model and its ability to produce sustainable economic returns;
- Intention: the company’s purpose as evidenced by the alignment of its mission statement with its corporate strategy and actions; and
- Impact: the scale of the net positive societal impact and the company’s progress in addressing social equality challenges.

The outputs of the Impact Methodology enable the Fund to allocate to the following three investment types:
- “Pioneers”, whose products or services have or could have a transformational effect on social equality.
- “Enablers”, which provide the tools for others to empower social equality.
- “Leaders”, which spearhead and mainstream sustainability in industries empowering social equality, but which may have more established profitability than pioneers.

The Investment Manager’s engagement with the companies in which the Fund invests is key to the investment approach.
Sustainability considerations, encompassing ESG factors, are fully integrated into analysis and investment decisions, and play an important role in determining the investment universe and portfolio construction.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then assesses the sustainability credentials of the remaining companies. Potential investments are identified by reference to the relevant SDGs, and assessed using the Impact Methodology.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain the sustainable investment objective?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s asset allocation, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?". Please note that the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy is non-binding where the reason for holding less than such minimum is because Taxonomy-aligned investments are held instead (as all such investments are sustainable investments with environmental objectives).

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates data driven quantitative good governance tests used to consider investments into companies. The Investment Manager excludes investments in securities that are considered as failing the Investment Manager’s good governance tests. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation and the minimum share of sustainable investments?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 80% of the Fund to be invested in sustainable investments, in pursuit of the sustainable investment objective. The Fund is not required to favour any specific type of sustainable investment.
The Fund will invest at least 30% in sustainable investments with a social objective and at least 30% in sustainable investments with an environmental objective that are not aligned to the EU Taxonomy. Subject to those minima, the Fund may flexibly allocate between the different types of sustainable investments based on availability and attractiveness of investment opportunities, whilst keeping the aggregate allocation to sustainable investments with environmental and/or social objectives to a minimum of 80%.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Sustainable
#2 Not sustainable
Environmental
Social
Taxonomy-aligned
Other
#1 Sustainable covers sustainable investments with environmental or social objectives.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Not sustainable includes investments which do not qualify as sustainable investments.

######  How does the use of derivatives attain the sustainable investment objective?
Derivatives are not used to attain the sustainable investment objective.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
30%

###### What is the minimum share of sustainable investments with a social objective?
30%

###### What investments are included under “#2 Not sustainable”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, and derivatives as “Other” investments, for hedging purposes or in connection with cash held for ancillary liquidity. No minimum environmental or social safeguards are applied, other than as stated below.
Where derivatives are used to take investment exposure to diversified financial indices, these will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
It is also possible that the Fund may hold investments that are not in line with the sustainable investment objective, e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to meet the sustainable investment objective?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

## Convertibles Funds

### M&G (Lux) Global Convertibles Fund
Launch Date	9 November 2018
Investment Objective  The Fund aims to provide a higher total return (capital growth plus income) than that of the global convertibles market over any five-year period while applying ESG criteria.
Investment Policy	The Fund invests at least 70% of its Net Asset Value in convertible securities denominated in any currency. Issuers of these securities may be located in any country, including emerging markets. Exposure to these securities may be achieved, either directly or indirectly, through various combinations of corporate bonds, equities and derivatives.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive ESG Tilt as described in the precontractual annex to this Fund Supplement.
The Fund may also hold up to a maximum of 20% of its Net Asset Value in contingent convertible debt securities.
Derivative instruments can be used to meet the Fund’s investment objective, for efficient portfolio management and for the purposes of hedging. These derivative instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, options and credit default swaps.
The Fund may also invest in other assets including debt securities, equity securities, collective investment schemes, cash and near cash, deposits and warrants.
Investment Strategy	Investment Approach
The Investment Manager focuses on convertible bonds that provide the best risk-reward features in their view. For these convertible securities the potential gain from the option on the share price exceeds the potential loss from the share price falling back to the value of the bond.
Risk is also managed by reducing the potential loss that the convertible might suffer if the share price of the company and the value of the embedded option declined markedly.
For the Convertible Bond to provide downside protection the company’s credit quality is
also analysed and monitored.
The Investment Manager has no set geographical guidelines or limits determined by macroeconomic or sector views.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	Refinitiv Global Focus Convertible Bond Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents and, as a result, the Fund’s performance may deviate significantly from the benchmark.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income from a portfolio of mainly global convertible assets, and who want a fund that applies ESG factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share classes
Currency Hedged Share Classes seek to reduce the exposure of the holders of hedged
Classes to movements in the material currencies within the Fund’s portfolio.
Calculation of Global Exposure
Absolute VaR, and as from 31 January 2023 Relative VaR
The global exposure relating to this Fund will be calculated using a relative VaR approach benchmarked against the Refinitiv Global Focus Convertible Bond Index.
Leverage	The Fund’s expected level of leverage under normal market conditions is 250% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Convertible bonds
- Credit
- Currency & exchange rate
- Derivatives
- Emerging markets
- Counterparty
- Liquidity
- Interest rate
- Contingent convertible debt securities
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.50% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.00% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| X | 1.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Global Convertibles Fund
Legal Entity Identifier: 
549300DZSWWWBBRWLT54
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a Positive ESG Tilt (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
The Fund maintains a weighted average ESG rating that is either
- higher than that of the equity market as represented by its investment universe; or
- equivalent to at least an MSCI A rating, whichever is lower (“Positive ESG Tilt”).

In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Positive ESG Tilt: Portfolio weighted average ESG score versus investment universe weighted average ESG score or versus the ESG score corresponding to the lowest numerical value of the MSCI A rating.


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions. In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process should result in a portfolio with better ESG characteristics. In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The Fund’s ESG Criteria apply to at least:
- 90% of equities issued by large capitalisation companies in developed countries; debt securities, money market instruments with an investment grade credit rating; and sovereign debt issued by developed countries;
- 75% of equities issued by large capitalisation companies in emerging market countries; equities issued by small and mid-capitalisation companies in any country; debt securities and money market instruments with a high yield credit rating; and sovereign debt issued by emerging market countries.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s Positive ESG Tilt;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives are not used to attain the promoted environmental and/or social characteristics.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds and derivatives as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied, other than as set out below.
Derivatives used to take investment exposure to diversified financial indices, and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test. No minimum environmental or social safeguards are applied to FX derivatives.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

## Fixed Income Funds

### M&G (Lux) Absolute Return Bond Fund
Launch Date	21 December 2016
Investment Objective  The Fund aims to achieve a total return (the combination of income and capital growth) of at least cash* plus 2.5% a year, before any charges** are taken, in any market conditions and over any three-year period.
The Fund aims to achieve this while seeking to minimise the degree to which the value of the Fund fluctuates over time (volatility), while also seeking to limit monthly losses. Managing the Fund’s volatility in this way reduces its ability to achieve returns significantly above 3-month Euribor plus 2.5%.
* As based on 3-month Euribor, the rate at which banks borrow money from each other.
** Investors should refer to the section 
“
Fees and Expenses
”
.
Investment Policy	The Fund will invest at least 70% of its Net Asset Value in the following asset classes: bonds, currencies, cash, near cash and deposits. These may be issued anywhere in the world and denominated in any currency.
The Fund’s exposure to these investments may also be gained by investing in other collective investment schemes, or through the use of derivative instruments. The Fund may take short positions (holding derivative instruments with the aim of delivering a positive return when the assets they are linked to fall in value) in markets, currencies, securities, and groups of securities. The Fund also has the flexibility to gain exposure to investments exceeding the net asset value of the Fund in order to increase potential returns in both rising and falling markets.
Derivative instruments can be used to meet the Fund’s investment objective and for efficient portfolio management. The derivative instruments that the Fund may invest in include spot and forward contracts, exchange traded futures, swaps, credit default swaps, options, and total return swaps.
The bonds that the Fund may invest in include the following:
- bonds which are rated above investment grade by a recognised rating agency, bonds issued or guaranteed by companies, governments, local authorities, government agencies or certain public international bodies, bonds from issuers located in emerging markets;
- Chinese onshore bonds denominated in CNY traded on the China Interbank Bond Market; and
- a maximum of 60% of the Fund’s Net Asset Value combined in unrated bonds andsub-investment grade bonds.

The Fund may invest up to 20% of its Net Asset Value in asset-backed securities and up to 20% of its Net Asset Value in contingent convertible debt securities.
Investment Strategy	Investment Approach
The Investment Manager takes a flexible approach, investing across a broad range of fixed income and currency markets according to where they identify value. A dynamic investment approach is followed, allowing the Investment Manager to change the blend of duration, credit and currency exposures based on their outlook.
The Fund will typically aim to have a high level of diversification in individual credit selection and across investment themes and sources of return. The managers will aim to achieve the performance objective while managing the fund’s volatility and limiting losses during difficult market conditions.
Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
Benchmark	3-month Euribor + 2.5%
The benchmark is a target which the Fund seeks to achieve. The rate has been chosen as the Fund’s benchmark as it is an achievable performance target based on the Fund’s investment approach. The benchmark is used solely to measure the Fund’s performance objective and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which assets to buy, hold and sell in the Fund.
The benchmark is shown in the share class currency as set out in the table below.
| Share Class | Performance Comparator |
| --- | --- |
| CHF / CHF Hedged | SARON + 2.5% |
| GBP / GBP Hedged | SONIA + 2.5% |
| USD / USD Hedged | SOFR + 2.5% |

Profile of Typical Investor
Typical investors may be retail, professional or Institutional Investors who can bear the economic risk of the loss of their investment in the Fund and who are willing to accept capital and income risk.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least three years.
Reference Currency	EUR
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR
Leverage	The Fund’s expected level of leverage under normal market conditions is 350% of the
Fund’s Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a semi- annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Counterparty
- Liquidity
- Currency & exchange rate
- Securitised bonds
- Contingent convertible debt securities
- Negative duration
- Emerging markets
- China
- Derivative instruments
- Short sales
- Exposure greater than net asset valueInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.00% | 1.25% | - | - | - | 0.05% | 0.15% |
| B | 1.30% | - | - | - | - | 0.05% | 0.15% |
| C | 0.40% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.40% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.40% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.40% | - | - | - | - | 0.01% | 0.15% |
| X | 1.00% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.

### M&G (Lux) Emerging Markets Bond Fund
Launch Date	17 September 2018
Investment Objective	The Fund aims to provide a higher total return (the combination of capital growth and income) than that of the global emerging markets bond market over any three-year period.
Investment Policy	The Fund has the flexibility to invest across all types of emerging market debt, which includes sovereign, corporate and local currency debt.
The Fund invests at least 80% of its Net Asset Value in debt securities denominated in any currency, issued or guaranteed by emerging market governments or their agencies, local authorities, public authorities, quasi-sovereigns, supranational bodies and by companies that are domiciled in, or conducting the major part of their economic activity in emerging markets.
The Fund may invest up to a combined maximum of 100% of the Fund’s Net Asset Value in below investment grade and unrated securities. There are no credit quality restrictions with respect to the debt securities in which the Fund may invest.
The Fund may invest in Chinese onshore debt securities denominated in CNY traded on the China Interbank Bond Market.
The Fund may invest up to 10% of its Net Asset Value in asset-backed securities and up to 10% of its Net Asset Value in contingent convertible debt securities.
The Fund will typically invest directly. The Fund may also invest indirectly via derivative instruments to take both long and short positions and to gain exposure to investments exceeding the Net Asset Value of the Fund in order to increase potential returns in both rising and falling markets. Derivative instruments can be used to meet the Fund’s investment objective, for efficient portfolio management and for the purpose of hedging. These instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, options, credit default swaps, interest rate swaps, total return swaps and credit linked notes.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits, warrants and other debt instruments.
Investment Strategy	Investment Approach
The Fund’s investment approach begins with a top-down assessment of macroeconomic factors such as global risk appetite and structural global growth catalysts.
On a regional and country-specific level, factors such as monetary and fiscal policies, capital flows, and political and regulatory environments will be assessed. The result of this analysis will help inform the Fund’s country and currency allocations and its duration. Individual credit selection is determined by thorough credit analysis and assessment of valuations.
Both macroeconomic and security-specific analysis is undertaken by the Investment Manager and the in-house team of credit analysts.
The Fund is diversified by investing in a range of assets across global emerging bond markets.
Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
Benchmark	A composite index comprising:
- 1/3 JPM EMBI Global Diversified Index
- 1/3 JPM CEMBI Broad Diversified Index
- 1/3 JPM GBI-EM Global Diversified IndexThese indices represent the emerging market government bond markets denominated in hard currencies, the emerging market corporate bond markets denominated in hard currencies and the emerging market government bond markets denominated in local currencies respectively.

The benchmark is a comparator against which the Fund’s performance can be measured. The composite index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has freedom in choosing which assets to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income from a portfolio of predominantly debt instruments issued by emerging market borrowers, but who appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least three years.
Reference Currency	USD
Currency Hedged Share classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR, and as from 31 January 2023 Relative VaR
The global exposure relating to this Fund will be calculated using a relative VaR approach benchmarked against a composite index comprising:
- 1/3 JPM EMBI Global Diversified Index
- 1/3 JPM CEMBI Broad Diversified Index
- 1/3 JPM GBI-EM Global Diversified IndexLeverage	The Fund’s expected level of leverage under normal market conditions is 150% of the Fund’sNet Asset Value when calculated in accordance with the sum of notionals approach.

The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a semi-annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Emerging markets
- China
- Interest rate
- Credit
- Currency & exchange rate
- Liquidity
- Counterparty
- Securitised bonds
- Contingent convertible debt securities
- Derivative instruments
- Exposure greater than net asset value
- Short salesInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.25% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 1.75% | - | - | - | - | 0.05% | 0.15% |
| C | 0.60% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.60% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.60% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.60% | - | - | - | - | 0.01% | 0.15% |
| N | Up to 1.25% | 4.00% | - | - | - | 0.05% | 0.15% |
| X | 1.25% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.

### M&G (Lux) Emerging Markets Hard Currency Bond Fund
Launch Date	22 May 2017
Investment Objective  The Fund aims to provide a higher total return (the combination of income and capital growth) than that of the hard currency emerging market bond market over any three-year period.
Investment Policy	The Fund will invest at least 80% of its Net Asset Value in emerging markets debt instruments issued or guaranteed by emerging market governments or their agencies, local authorities, public authorities, quasi-sovereigns and supranational bodies denominated in hard currency. It may also take limited exposure to debt instruments issued by emerging market companies or instruments denominated in emerging market currencies. The Investment Manager has the discretion to identify the countries that it considers to qualify as emerging markets.
The Fund may invest in Chinese onshore debt securities denominated in CNY traded on the China Interbank Bond Market.
The Fund’s exposure to these assets will typically be gained directly. The Fund may also
invest indirectly via derivative instruments.
Derivative instruments can be used to meet the Fund’s investment objective and for efficient portfolio management. The derivative instruments that the Fund may invest in include spot and forward contracts, exchange traded futures, swaps, credit default swaps, total return swaps and options.
The Fund may also invest in cash, near cash, deposits, other debt instruments and other collective investment schemes.
Investment Strategy	Investment Approach
The Fund’s approach to emerging market investing begins with a top-down analysis of the global economy, which is fine tuned on a daily basis subject to market, economic and political changes.
Within this framework, the Investment Manager’s approach involves:
- forming a view on the global and overall emerging markets outlook, including prospects for demand from advanced economies, commodity prices, interest rate trends, monetary policy tools and other components of the external environment;
- identifying countries with stable or improving underlying credit fundamentals (including stable/improving fiscal positions, stable/improving political situations, comfortable central bank reserve levels, improving current account positions for example);
- evaluating the technical conditions of the credit to identify both the upside and the imbalances that could potentially lead to market dislocations.

This disciplined multi-pronged framework provides the basis for our country weighting, marginal allocation to corporates, duration, yield curve and currency and instrument selection decisions, as well as relative value assessments.
The Fund will not take direct or indirect (when the underlying of an eligible asset is a commodity) exposure to commodities.
Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
Benchmark	JPM EMBI Global Diversified Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the share class currency.
Profile of Typical Investor
Typical investors may be retail, professional or Institutional Investors who are looking for income and capital growth but can bear the economic risk of the loss of their investment in the Fund.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least three years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR, and as from 31 January 2023 Relative VaR
The global exposure relating to this Fund will be calculated using a relative VaR approach benchmarked against the JPM EMBI Global Diversified Index.
Leverage	The Fund’s expected level of leverage under normal market conditions is 100% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Liquidity
- Counterparty
- Emerging markets
- China
- Derivative instrumentsInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.50% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.00% | N/A | - | - | - | 0.05% | 0.15% |
| C | 0.60% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.60% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.60% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.60% | - | - | - | - | 0.01% | 0.15% |
| L | 0.35% | 1.25% | - | - | - | 0.05% | 0.15% |
| LI | 0.35% | 1.25% | - | - | - | 0.01% | 0.15% |
| X | 1.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.

### M&G (Lux) Euro Corporate Bond Fund
Launch Date	9 November 2018
Investment Objective   Until 15 February 2023
The Fund aims to provide a higher total return (the combination of capital growth and income) than that of the European investment grade corporate bond market over any five- year period.
From 16 February 2023
The Fund aims to provide a higher total return (capital growth plus income) than that of the European investment grade corporate bond market over any five-year period while applying ESG Criteria.
Investment Policy	Until 15 February 2023
The Fund invests at least 70% of its Net Asset Value in investment grade corporate bonds denominated in any European currency. Issuers of these securities may be located in any country, including emerging markets.
The investment process of the Fund is based on both a macroeconomic view and fundamental analysis of individual securities.
The Fund may also invest in high yield corporate bonds, unrated bonds, government and public securities denominated in any European currency. More than 70% of the Fund’s assets will be in Euro or hedged back to Euro. There are no credit quality restrictions with respect to the high yield debt securities in which the Fund may invest.
The Fund may invest up to a combined maximum of 30% of the Fund’s Net Asset Value in
below investment grade and unrated securities.
The Fund may hold up to a maximum of 20% of its Net Asset Value in contingent convertible debt securities and up to a maximum of 20% of its Net Asset Value in asset-backed securities.
The Fund will typically invest directly. The Fund may also invest indirectly via derivative instruments to take both long and short positions to meet the Fund’s investment objective, for efficient portfolio management and for the purpose of hedging. These instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, options, credit default swaps, interest rate swaps, total return swaps and credit linked notes.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits, and other debt instruments.
From 16 February 2023
The Fund invests at least 70% of its Net Asset Value in investment grade corporate bonds denominated in any European currency. Issuers of these securities may be located in any country, including emerging markets.
The Fund may also invest in high yield corporate bonds, unrated bonds, government and public securities denominated in any European currency. More than 70% of the Fund’s assets will be in Euro or hedged back to Euro. There are no credit quality restrictions with respect to the high yield debt securities in which the Fund may invest.
The Fund may invest up to a combined maximum of 30% of the Fund’s Net Asset Value in
below investment grade and unrated securities.
The Fund may hold up to a maximum of 20% of its Net Asset Value in Contingent Convertible Debt Securities and up to a maximum of 20% of its Net Asset Value in Asset-Backed Securities.
The Fund seeks to make investments that meet the ESG Criteria, applying an Exclusionary Approach as described in the precontractual annex to this Fund Supplement.
The Fund will typically invest directly. The Fund may also invest indirectly via derivatives instruments to take both long and short positions to meet the Fund’s investment objective, for efficient portfolio management and for the purpose of hedging. These instruments may include, but are not limited to, Spot and Forward Contracts, Exchange Traded Futures, Options, Credit Default Swaps, Interest Rate Swaps and Credit Linked Notes (CLNs).
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits, and other debt instruments.
Investment Strategy	Investment Approach
The Investment Manager believes that bond returns are driven by a combination of macroeconomic, asset, sector, geographic and stock-level factors. A dynamic investment approach is followed, allowing the Investment Manager to change the blend of duration and credit exposure.
The Fund is diversified by investing in a range of individual issuers, sectors and geographies. An in-house team of credit analysts assists the Investment Manager in individual credit selection along with the monitoring of issuers held by the Fund.
Until 15 February 2023 Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
From 16 February 2023
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
Until 15 February 2023 SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for environmentally sustainable economic activities.
From 16 February 2023
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	Until 15 February 2023
ICE BofAML Euro Corporate Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the share class currency.
From 16 February 2023
ICE BofAML Euro Corporate Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund.
The benchmark is shown in the share class currency.
Profile of Typical Investor
Until 15 February 2023
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income from a portfolio of mainly investment grade corporate bonds denominated in any European currency, but who appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
From 16 February 2023
The Fund is suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income from a portfolio of mainly investment grade corporate bonds denominated in any European currency, and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	EUR
Currency Hedged Share Classes
Calculation of Global Exposure
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Absolute VaR, and as from 31 January 2023 Relative VaR
The global exposure relating to this Fund will be calculated using a relative VaR approach benchmarked against the ICE BofAML Euro Corporate Index.
Leverage	The Fund’s expected level of leverage under normal market conditions is 100% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Interest rate
- Liquidity
- Counterparty
- Currency & exchange rate
- Securitised bonds
- Contingent convertible debt securities
- Derivative instruments
- Short sales
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 0.40% | 3.25% | - | - | - | 0.05% | 0.15% |
| C | 0.15% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.15% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.15% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.15% | - | - | - | - | 0.01% | 0.15% |
| X | 0.40% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Euro Corporate Bond Fund
Legal Entity Identifier: 
549300O6WRQEB3PFIE51
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society. For securitised investments such as asset-backed securities (ABS), this also includes assessing them against the Investment Manager’s proprietary scoring methodology (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG factors.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Exclusionary approach: Percentage (%) of ABS below the Investment Manager’s threshold for alignment


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- From this narrowed investment universe, the Investment Manager performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities.

The Fund’s ESG Criteria apply to at least:
- 90% of debt securities, money market instruments with an investment grade credit rating; sovereign debt issued by developed countries; and equities issued by large capitalisation companies in developed countries;
- 75% of debt securities and money market instruments with a high yield credit rating; sovereign debt issued by emerging market countries; equities issued by large capitalisation companies in emerging market countries; and equities issued by small and mid-capitalisation companies in any country.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives may be considered aligned with the promoted environmental and/or social characteristics on the following basis:
Exclusions:
- Where a derivative represents exposure to a single name it must be a permitted investment for the Fund.
- Where a derivative represents exposure to a diversified financial index, it must deliver an evidencable alignment to the promoted characteristics.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, FX, interest rate derivatives and similar derivatives (which may include certain technical trades such as government bond futures used for duration trades) as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied.
Derivatives used to take investment exposure to diversified financial indices (excluding technical trades), and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) European Inflation Linked Corporate Bond Fund
Launch Date	16 March 2018
Investment Objective	Until 15 February 2023
The Fund aims to achieve a total return (the combination of income and capital growth) equal to or greater than European inflation over any three-year period.
From 16 February 2023
The Fund aims to achieve a total return (capital growth plus income) equal to or greater than European inflation over any three-year period while applying ESG Criteria.
Investment Policy	Until 15 February 2023
The Fund will invest at least 50% of its Net Asset Value in inflation-linked investment grade corporate bonds. Exposure may either be gained through direct holdings or synthetically by using combinations of inflation-linked government bonds and derivatives to create similar risk exposures. A minimum of 90% of the Fund’s Net Asset Value will be exposed directly to Euro denominated assets or non-Euro exposures which have been hedged back to Euro.
Additionally the Fund may also invest in the following fixed income instruments:
- fixed rate bonds issued or guaranteed by companies, governments, local authorities, government agencies or certain public international bodies, subject to a maximum of 40% of the Fund’s Net Asset Value;
- floating rate notes, subject to a maximum of 50% of the Fund’s Net Asset Value;
- bonds from issuers located in emerging markets, subject to a maximum of 20% ofthe Fund’s Net Asset Value;
- unrated bonds and bonds which are rated sub-investment grade, subject to amaximum of 30% of the Fund’s Net Asset Value;
- Asset-backed securities subject to a maximum of 20% of the Fund’s Net AssetValue.

Derivatives can be used to meet the Fund’s investment objective, for hedging purposes, and for efficient portfolio management. The derivative instruments that the Fund can invest in include, but are not limited to, spot and forward contracts, exchange traded futures, swaps, credit default swaps and total return swaps.
The Fund may also invest in cash, currencies, near cash, deposits, other debt instruments, other derivatives, preferred shares, warrants and other funds.
From 16 February 2023
The Fund will invest at least 50% of its Net Asset Value in inflation-linked investment grade corporate bonds. Exposure may either be gained through direct holdings or synthetically by using combinations of inflation-linked government bonds and derivatives to create similar risk exposures. A minimum of 90% of the Fund’s Net Asset Value will be exposed directly to Euro denominated assets or non-Euro exposures which have been hedged back to Euro.
Additionally the Fund may also invest in the following fixed income instruments:
- fixed rate bonds issued or guaranteed by companies, governments, local authorities, government agencies or certain public international bodies, subject to a maximum of 40% of the Fund’s Net Asset Value;
- floating rate notes, subject to a maximum of 50% of the Fund’s Net Asset Value;
- bonds from issuers located in emerging markets, subject to a maximum of 20% ofthe Fund’s Net Asset Value;
- unrated bonds and bonds which are rated sub-investment grade, subject to amaximum of 30% of the Fund’s Net Asset Value;
- Asset-backed securities subject to a maximum of 20% of the Fund’s Net AssetValue.

The Fund seeks to make investments that meet the ESG Criteria, applying an Exclusionary Approach as described in the precontractual annex to this Fund Supplement.
Derivatives can be used to meet the Fund’s investment objective, for hedging purposes, and for efficient portfolio management. The derivative instruments that the Fund can invest in include, but are not limited to, spot and forward contracts, exchange traded futures, swaps, credit default swaps and total return swaps.
The Fund may also invest in cash, currencies, near cash, deposits, other debt instruments, other derivatives, preferred shares, warrants and other funds.
Investment Strategy	Investment Approach
Until 15 February 2023
Fund performance is measured in comparison to the Eurostat Eurozone Harmonised Index of Consumer Prices. The Fund will invest in a range of fixed interest securities whose returns behave in a similar way to inflation. However, alternate sources of return may be sought where it is felt that this will aid achievement of the Fund’s objective.
The Investment Manager adopts a blended approach which combines top-down and bottom-up considerations.
The Fund will typically invest in European securities but may also take global exposures according to where the Investment Manager identifies value.
From 16 February 2023
Fund performance is measured in comparison to the Eurostat Eurozone Harmonised Index of Consumer Prices. The Fund will invest in a range of fixed interest securities whose returns behave in a similar way to inflation. However, alternate sources of return may be sought where it is felt that this will aid achievement of the Fund’s objective.
The Investment Manager adopts a blended approach which combines top-down and bottom-up considerations.
The Fund will typically invest in European securities but may also take global exposures according to where the Investment Manager identifies value.
Until 15 February 2023 Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
From 16 February 2023
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
Until 15 February 2023 SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote
environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
From 16 February 2023
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	Eurostat Eurozone Harmonised Index of Consumer Prices
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund.
The benchmark is shown in the share class currency
Profile of Typical Investor
Until 15 February 2023
Typical investors may be retail, professional or Institutional Investors who are looking for a total return equal to or greater than European inflation but can bear the economic risk of the loss of their investment in the Fund.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least three years.
From 16 February 2023
Typical investors may be retail, professional or Institutional Investors who are looking for a total return equal to or greater than European inflation and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should bear the economic risk of the loss of their investment in the Fund.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least three years.
Reference Currency	EUR
Currency Hedged Share Classes
Calculation of Global Exposure
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Absolute VaR
The global exposure relating to this Fund will be calculated using a relative VaR approach benchmarked against the Bloomberg Global Aggregate Corporate Index USD Hedged.
Leverage	The Fund’s expected level of leverage under normal market conditions is 150% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Currency & Exchange Rate
- Credit
- Liquidity
- Counterparty
- Derivative Instruments
- Exposure greater than net asset value
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 0.50% | 3.25% | - | - | - | 0.05% | 0.15% |
| C | 0.20% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.20% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.20% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.20% | - | - | - | - | 0.01% | 0.15% |
| X | 0.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) European Inflation Linked Corporate Bond Fund
Legal Entity Identifier: 
549300405AQ08G7LRC37
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society. For securitised investments such as asset-backed securities (ABS), this also includes assessing them against the Investment Manager’s proprietary scoring methodology (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Exclusionary approach: Percentage (%) of ABS below the Investment Manager’s threshold for alignment


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- From this narrowed investment universe, the Investment Manager performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities.

The Fund’s ESG Criteria apply to at least:
- 90% of debt securities, money market instruments with an investment grade credit rating; sovereign debt issued by developed countries; and equities issued by large capitalisation companies in developed countries;
- 75% of debt securities and money market instruments with a high yield credit rating; sovereign debt issued by emerging market countries; equities issued by large capitalisation companies in emerging market countries; and equities issued by small and mid-capitalisation companies in any country.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives may be considered aligned with the promoted environmental and/or social characteristics on the following basis:
Exclusions:
- Where a derivative represents exposure to a single name it must be a permitted investment for the Fund.
- Where a derivative represents exposure to a diversified financial index, it must deliver an evidencable alignment to the promoted characteristics.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, FX, interest rate derivatives and similar derivatives (which may include certain technical trades such as government bond futures used for duration trades) as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied.
Derivatives used to take investment exposure to diversified financial indices (excluding technical trades), and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable.
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Global Corporate Bond Fund
Launch Date	7 December 2018
Investment Objective	The Fund aims to provide a higher total return (the combination of capital growth and income) than that of the global investment grade corporate bond market over any five- year period.
Investment Policy	The Fund invests at least 80% of its Net Asset Value in investment grade corporate bonds denominated in any currency. The Fund does not take currency views and aims to hedge any non-USD assets to USD. Issuers of these securities may be located in any country, including emerging markets.
The Fund may also invest in high yield corporate bonds, government and public securities denominated in any currency. There are no credit quality restrictions with respect to the high yield debt securities in which the Fund may invest.
The Fund uses an investment process that is based on both a top-down macroeconomic view and fundamental analysis of individual securities.
The Fund may invest up to a combined maximum of 20% of the Fund’s Net Asset Value in
below investment grade and unrated securities.
The Fund may hold up to a maximum of 20% of its Net Asset Value in asset-backed securities and up to 20% of its Net Asset Value in contingent convertible debt securities.
The Fund will typically invest directly. The Fund may also invest indirectly via derivative instruments to take both long and short positions to meet the Fund’s investment objective, for efficient portfolio management and for the purpose of hedging. These instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, credit default swaps, interest rate swaps and total return swaps.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits and warrants and other debt securities.
Investment Strategy	Investment Approach
The Investment Manager considers macroeconomic, asset class, sector, geographic and individual credit-level factors. A dynamic investment approach combining top-down and bottom-up stock selection is followed, allowing the Investment Manager to change the blend of duration and credit exposure based on the outlook for bond markets. An in-house team of credit analysts assists the Investment Manager in individual credit selection along with the monitoring of names held by the Fund.
Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
Benchmark	Bloomberg Global Aggregate Corporate Index USD Hedged
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the Share Class currency.
Profile of Typical Investor The Fund may be suitable for retail and Institutional Investors seeking a total return from a portfolio of global fixed income investments but who appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR, and as from 31 January 2023 Relative VaR
The global exposure relating to this Fund will be calculated using a relative VaR approach benchmarked against the Bloomberg Global Aggregate Corporate Index USD Hedged.
Leverage	The Fund’s expected level of leverage under normal market conditions is 250% of the Fund’s Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Interest Rate
- Liquidity
- Counterparty
- Emerging markets
- Securitised bonds
- Contingent convertible debt securities
- Derivative instruments
- Exposure greater than net asset value
- Short salesInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 0.65% | 4.00% | - | - | - | 0.05% | 0.15% |
| C | 0.25% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.25% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.25% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.25% | - | - | - | - | 0.01% | 0.15% |
| N | Up to 0.65% | 4.00% | - | - | - | 0.05% | 0.15% |
| X | 0.65% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.

### M&G (Lux) Global Floating Rate High Yield Fund
Launch Date	13 September 2018
Investment Objective  The Fund aims to provide a higher total return (the combination of capital growth and income) than that of the global floating rate high yield bond market over any five-year period.
Investment Policy	The Fund invests at least 70% of its Net Asset Value in high yield floating rate bonds issued by companies or governments anywhere in the world and denominated in any currency. The Fund does not take currency views and aims to hedge any non-USD assets to USD. Exposure to these securities may be achieved, either directly or synthetically, through various combinations of government securities, corporate bonds and derivatives.
The investment process of the Fund is based on the bottom-up analysis of individual bond issues whilst remaining aware of macroeconomic developments.
In addition to high yield securities, the Fund may invest in unrated debt securities up to a combined maximum of 100% of the Fund’s Net Asset Value. There are no credit quality restrictions with respect to the high yield debt securities in which the Fund may invest.
The Fund may hold up to a maximum of 20% of its Net Asset Value in asset-backed securities and up to a maximum of 20% of its Net Asset Value in contingent convertible debt securities.
Derivative instruments, both long and short can be used to meet the Fund’s objective, for efficient portfolio management and for the purpose of hedging. These derivative instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, credit default swaps, interest rate swaps and total return swaps.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits, equities, warrants and other debt securities.
Investment Strategy	Investment Approach
The Fund is designed to provide an attractive level of income, along with a natural hedge against rising interest rates, by investing mainly in high yield floating rates notes (FRNs). Part of this exposure is expected to be gained through the use of derivatives.
FRNs are bonds which pay a variable rate of income, which is regularly reset in line with changes in interest rates. If interest rates rise, investors in FRNs will benefit from a higher income as their coupons are automatically adjusted upwards (equally, should interest rates fall, then the coupons will be adjusted downwards).
The Fund focuses on bonds issued by high yield companies, which typically pay higher rates of interest to compensate investors for the greater risk of default. The Fund will be globally diversified and the Investment Manager will seek to provide exposure to a broad range of individual issuers across a variety of industrial sectors.
The Investment Manager has the flexibility to adjust the Fund’s credit exposure, sector positioning and regional allocations depending on the assessment of current market valuations and the macroeconomic environment, including the likely path of economic growth, inflation and interest rates.
Individual credit selection is carried out in conjunction with the in-house team of credit analysts, which provides bottom-up analysis of the corporate bond markets to complement the Investment Manager’s views.
Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
Performance Comparator
ICE BofAML Global Floating Rate High Yield Index (3% constrained) USD Hedged
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the Share Class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income from a portfolio of mainly high yield corporate or government floating rate notes, but who appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR, and as from 31 January 2023 Relative VaR
The global exposure relating to this Fund will be calculated using a relative VaR approach benchmarked against the ICE BofAML Global Floating Rate High Yield Index (3% constrained) USD Hedged.
Leverage	The Fund’s expected level of leverage under normal market conditions is 300% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Liquidity
- Derivative instruments
- Counterparty
- Emerging markets
- Securitised bonds
- Contingent convertible debt securities
- Exposure greater than net asset value
- Short salesInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.00% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 1.50% | - | - | - | - | 0.05% | 0.15% |
| C | 0.40% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.40% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.40% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.40% | - | - | - | - | 0.01% | 0.15% |
| X | 1.00% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.

### M&G (Lux) Global High Yield Bond Fund
Launch Date	9 November 2018
Investment Objective  The Fund aims to provide a higher total return (the combination of capital growth and income) than that of the global high yield bond market over any five-year period.
Investment Policy	The Fund invests at least 80% of its Net Asset Value in high yield bonds issued by companies denominated in any currency. The Fund does not take any currency views and aims to hedge any non-USD assets to USD. Issuers of these securities may be located in any country, including emerging markets.
The investment process of the Fund is based on the bottom-up analysis of individual bond issues whilst remaining aware of macroeconomic developments.
In addition to high yield securities, the Fund may invest in unrated debt securities up to a combined maximum of 100% of the Fund’s Net Asset Value. There are no credit quality restrictions with respect to the high yield debt securities in which the Fund may invest.
The Fund may hold up to a maximum of 20% of its Net Asset Value in asset-backed securities and to a maximum of 20% of its Net Asset Value in contingent convertible debt securities.
The Fund will typically invest directly. The Fund may also invest indirectly via derivative instruments to take both long and short positions to meet the Fund’s investment objective, for efficient portfolio management and for the purpose of hedging. These instruments may include, but are not limited to spot and forward contracts, exchange traded futures, credit default swaps, interest rate swaps and total return swaps.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits, equities, warrants and other debt securities.
Investment Strategy	Investment Approach
The Fund is globally diversified and the Investment Manager seeks to provide exposure to a broad range of individual issuers across a variety of industrial sectors.
The Investment Manager has the flexibility to adjust the Fund’s credit exposure, sector positioning and regional allocations depending on the assessment of current market valuations and the macroeconomic environment, including the likely path of economic growth, inflation and interest rates.
Individual credit selection is carried out in conjunction with the in-house team of credit analysts, which provides bottom-up analysis of the corporate bond markets to complement the Investment Manager’s views.
Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
Benchmark	ICE BofAML Global High Yield Index USD Hedged
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the Share Class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income, while generating a high level of income, from a portfolio of predominantly higher yielding corporate debt (or derivatives giving such exposure), but who appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR, and as from 31 January 2023 Relative VaR
The global exposure relating to this Fund will be calculated using a relative VaR approach benchmarked against the ICE BofAML Global High Yield Index USD Hedged.
Leverage	The Fund’s expected level of leverage under normal market conditions is 250% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a monthly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Interest rate
- Emerging markets
- Liquidity
- Counterparty
- Securitised bonds
- Contingent convertible debt securities
- Derivative instruments
- Exposure greater than net asset value
- Short salesInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.00% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 1.50% | - | - | - | - | 0.05% | 0.15% |
| C | 0.40% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.40% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.40% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.40% | - | - | - | - | 0.01% | 0.15% |
| L | 0.40% | 1.25% | - | - | - | 0.05% | 0.15% |
| LI | 0.40% | 1.25% | - | - | - | 0.01% | 0.15% |
| X | 1.00% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.

### M&G (Lux) Global Macro Bond Fund
Launch Date	26 October 2018
Investment Objective	Until 15 February 2023
The Fund aims to provide a higher total return (the combination of capital growth and income) than that of the global bond market over any five-year period.
From 16 February 2023
The Fund aims to provide a higher total return (capital growth plus income) than that of the global bond market over any five-year period while applying ESG Criteria.
Investment Policy	Until 15 February 2023
The Fund invests at least 80% of its Net Asset Value in debt securities, including investment grade bonds, high yield bonds, unrated securities and asset-backed securities. These securities may be issued by governments and their agencies, public authorities, quasi- sovereigns, supranational bodies and companies. Issuers of these securities may be located in any country, including emerging markets and denominated in any currency.
There are no credit quality restrictions applicable to the investments and the Fund may invest up to 100% of its Net Asset Value in high yield and unrated debt securities.
The Fund may invest in Chinese onshore debt securities denominated in CNY traded on the China Interbank Bond Market.
The Fund may invest up to 100% of its Net Asset Value in asset-backed securities and up to 20% of its Net Asset Value in contingent convertible debt securities.
The Fund may invest in asset-backed securities, including mortgage-backed securities (commercial, agency residential, prime residential, non-prime residential), cash collateralised debt obligation, cash collateralised loan obligation, auto prime, auto subprime, consumer loan, credit card, student loan, aircraft loan/lease, equipment lease, small business loan/lease, whole business securitisation, single family rentals and other securitised assets.
The Fund is a flexible bond fund that allows investment across a broad range of fixed income assets according to where the Investment Manager finds value. The Investment Manager also seeks to add value through active management of the Fund’s exposure to global currencies. The Investment process of the Fund is based on macroeconomic research to identify global investment themes and opportunities.
The Fund will typically invest directly. The Fund may also invest indirectly via derivative instruments to take both long and short positions and to gain exposure to investments exceeding the Net Asset Value of the Fund in order to increase potential returns in both rising and falling markets. Derivative instruments can be used to meet the Fund’s investment objective, for efficient portfolio management and for the purpose of hedging. These instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, options, credit default swaps, interest rate swaps, total return swaps and credit linked notes.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits, warrants and other debt instruments.
From 16 February 2023
The Fund invests at least 80% of its Net Asset Value in debt securities, including investment grade bonds, high yield bonds, unrated securities and asset-backed securities. These securities may be issued by governments and their agencies, public authorities, quasi sovereigns, supranational bodies and companies. Issuers of these securities may be located in any country, including emerging markets and denominated in any currency.
There are no credit quality restrictions applicable to the investments and the Fund may invest up to 100% of its Net Asset Value in high yield and unrated debt securities.
The Fund may invest in Chinese onshore debt securities denominated in CNY traded on the China Interbank Bond Market.
The Fund may invest up to 100% of its Net Asset Value in asset-backed securities and up to 20% of its Net Asset Value in contingent convertible debt securities.
The Fund may invest in asset-backed securities, including mortgage-backed securities (commercial, agency residential, prime residential, non-prime residential), cash collateralised debt obligation, cash collateralised loan obligation, auto prime, auto subprime, consumer loan, credit card, student loan, aircraft loan/lease, equipment lease, small business loan/lease, whole business securitisation, single family rentals and other securitised assets.
The Fund is a flexible bond fund that allows investment across a broad range of fixed income assets according to where the Investment Manager finds value. The Investment Manager also seeks to add value through active management of the Fund’s exposure to global currencies. The Investment process of the Fund is based on macroeconomic research to identify global investment themes and opportunities.
The Fund seeks to make investments that meet the ESG Criteria, applying an Exclusionary Approach as described in the precontractual annex to this Fund Supplement.
The Fund will typically invest directly. The Fund may also invest indirectly via derivative instruments to take both long and short positions and to gain exposure to investments exceeding the Net Asset Value of the Fund in order to increase potential returns in both rising and falling markets. Derivative instruments can be used to meet the Fund’s investment objective, for efficient portfolio management and for the purpose of hedging. These instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, options, credit default swaps, interest rate swaps, total return swaps and credit linked notes.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits, warrants and other debt instruments.
Investment Strategy	Investment Approach
The Fund’s investment approach is driven primarily by the Investment Manager’s views on
macroeconomic factors such as economic growth, interest rates and inflation.
This assessment determines the type of debt securities in which the Investment Manager believes the Fund should invest in order to achieve its objective. It also influences the portfolio’s mix of interest rate risk, credit risk and currency exposure.
Until 15 February 2023 Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
From 16 February 2023
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
Until 15 February 2023 SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
From 16February 2023
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	Until 15 February 2023
Bloomberg Global Aggregate Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the Share Class currency.
From 16 February 2023
Bloomberg Global Aggregate Index
The benchmark is a comparator against which the Fund’s performance can be measured.
The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the Share Class currency.
Profile of Typical Investor
Until 15 February 2023
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income from a portfolio composed mainly of debt securities and currencies that can be from anywhere in the world, but who appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
From 16 February 2023
The Fund is suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income from a portfolio composed mainly of debt securities and currencies that can be from anywhere in the world, and who want a fund that applies ESG Factors and consider Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Calculation of Global Exposure
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Absolute VaR
Leverage	The Fund’s expected level of leverage under normal market conditions is 200% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Interest rate
- Counterparty
- Liquidity
- Securitised bonds
- Contingent convertible debt securities
- Emerging markets
- China
- Derivative instruments
- Exposure greater than net asset value
- Short Sales
- Negative duration
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.25% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 1.75% | - | - | - | - | 0.05% | 0.15% |
| C | 0.65% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.65% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.65% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.65% | - | - | - | - | 0.01% | 0.15% |
| X | 1.25% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Global Macro Bond Fund
Legal Entity Identifier: 
549300OHGMRPC0NPD471
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society. For securitised investments such as asset-backed securities (ABS), this also includes assessing them against the Investment Manager’s proprietary scoring methodology (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Exclusionary approach: Percentage (%) of ABS below the Investment Manager’s threshold for alignment


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund does not target investment in sustainable investments.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
The Fund does not target investment in sustainable investments.
How have the indicators for adverse impacts on sustainability factors been taken into account?
The Fund does not target investment in sustainable investments.
human rights, anticorruption and antibribery matters.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
The Fund does not target investment in sustainable investments.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- From this narrowed investment universe, the Investment Manager performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities.

The Fund’s ESG Criteria apply to at least:
- 90% of debt securities, money market instruments with an investment grade credit rating; sovereign debt issued by developed countries; and equities issued by large capitalisation companies in developed countries;
- 75% of debt securities and money market instruments with a high yield credit rating; sovereign debt issued by emerging market countries; equities issued by large capitalisation companies in emerging market countries; and equities issued by small and mid-capitalisation companies in any country.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions; and
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives may be considered aligned with the promoted environmental and/or social characteristics on the following basis:
Exclusions:
- Where a derivative represents exposure to a single name it must be a permitted investment for the Fund.
- Where a derivative represents exposure to a diversified financial index, it must deliver an evidencable alignment to the promoted characteristics.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
0%

###### What is the minimum share of socially sustainable investments?
0%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, FX, interest rate derivatives and similar derivatives (which may include certain technical trades such as government bond futures used for duration trades) as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied.
Derivatives used to take investment exposure to diversified financial indices (excluding technical trades), and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Optimal Income Fund
Launch Date	5 September 2018
Investment Objective  The Fund aims to provide a total return (capital growth plus income) to investors based on exposure to optimal income streams in investment markets.
Investment Policy	The Fund invests at least 50% of its Net Asset Value in debt securities, including investment grade bonds, high yield bonds, unrated securities and asset-backed securities. These securities may be issued by governments and their agencies, public authorities, quasi- sovereigns, supranational bodies and companies. Issuers of these securities may be located in any country, including emerging markets, and denominated in any currency. At least 80% of the Net Asset Value will be in EUR or hedged into EUR.
While the Fund’s overall duration will not be negative, the Fund may derive negative
duration from individual fixed income markets.
The Fund may invest up to a combined maximum of 100% of the Fund’s Net Asset Value in below investment grade and unrated securities. There are no credit quality restrictions with respect to the debt securities in which the Fund may invest
The Fund may invest in Chinese onshore debt securities denominated in CNY traded on the China Interbank Bond Market.
The Fund may also hold up to a maximum of 20% of its Net Asset Value in contingent convertible debt securities and up to a maximum of 20% of its Net Asset Value in asset- backed securities.
The Fund is a flexible bond fund that allows investment across a broad range of fixed income assets according to where the Investment Manager finds value. In identifying the optimal income stream, the Fund also has the flexibility to invest up to a maximum of 20% of its Net Asset Value in equities.
Further information on the Fund’s ESG approach can be found in the ESG Criteria, applying an Exclusionary Approach and Positive ESG Tilt as described in the precontractual annex to this Fund Supplement.
The Fund may also invest in other transferable securities, cash, and near cash, directly or via collective investment schemes (i.e. UCITS and other UCIs including funds managed by M&G).
The Fund may use derivatives for investment purposes, efficient portfolio management and hedging. These instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, credit default swaps, total return swaps, interest rate swaps and credit linked notes.
Investment Strategy	Investment Approach
The Investment Manager begins with a top-down assessment of the macroeconomic environment, including the likely path of growth, inflation and interest rates. The results of this analysis help inform the Fund’s duration positioning and its allocation to the various bond asset classes.
Individual credit selection based on bottom-up analysis of the corporate bond markets by in-house credit analysts complements the Investment Manager’s views.
Investment Manager’s ESG Classification
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	A composite index comprising:
1/3 Bloomberg Global Aggregate Corporate Index EUR Hedged 1/3 Bloomberg Global High Yield Index EUR Hedged
1/3 Bloomberg Global Treasury Index EUR Hedged
These indices represent the global investment grade corporate market, the global high yield corporate market and the global government bond market respectively.
The benchmark is a comparator against which the Fund’s performance can be measured. The composite index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the Share Class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income from a portfolio at least half of which is invested in debt securities and who want a fund that promotes certain ESG characteristics when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	EUR
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR
Leverage	The Fund’s expected level of leverage under normal market conditions is 200% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a semi-annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Interest rate
- Currency & exchange rate
- Emerging markets
- China
- Securitised bonds
- Contingent convertible debt securities
- Derivative instruments
- Exposure greater than net asset value
- Short sales
- Liquidity
- Counterparty
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.25% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 1.75% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| X | 1.25% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Optimal Income Fund
Legal Entity Identifier: 
5493008ON3OV4FEXKY59
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective: %
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a Positive ESG Tilt (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society. For securitised investments such as asset-backed securities (ABS), this also includes assessing them against the Investment Manager’s proprietary scoring methodology (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG factors
The Fund maintains a weighted average ESG rating that is higher than that of its investment universe (“Positive ESG Tilt”). In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Exclusionary approach: Percentage (%) of ABS below the Investment Manager’s threshold for alignment
- Positive ESG Tilt: Portfolio weighted average ESG score versus investment universe weighted average ESG score.


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process should result in a portfolio with better ESG characteristics. In constructing a portfolio positively tilted towards investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings.
- The Investment Manager then performs further analysis to consider the valuation of these companies and the appropriate time to purchase in consideration of the Fund’s financial objective.

The Fund’s ESG Criteria apply to at least:
- 90% of debt securities, money market instruments with an investment grade credit rating; sovereign debt issued by developed countries; and equities issued by large capitalisation companies in developed countries;
- 75% of debt securities and money market instruments with a high yield credit rating; sovereign debt issued by emerging market countries; equities issued by large capitalisation companies in emerging market countries; and equities issued by small and mid-capitalisation companies in any country.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s Positive ESG Tilt;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives may be considered aligned with the promoted environmental and/or social characteristics on the following basis:
Exclusions:
- Where a derivative represents exposure to a single name it must be a permitted investment for the Fund.
- Where a derivative represents exposure to a diversified financial index, it must deliver an evidencable alignment to the promoted characteristics.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, FX, interest rate derivatives and similar derivatives (which may include certain technical trades such as government bond futures used for duration trades) as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied.
Derivatives used to take investment exposure to diversified financial indices (excluding technical trades), and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Short Dated Corporate Bond Fund
Launch Date	26 October 2018
Investment Objective	Until 15 February 2023
The Fund aims to provide a higher total return (the combination of capital growth and income) than that of the short dated investment grade corporate bond market over any five- year period.
From 16 February 2023
The Fund aims to provide a higher total return (capital growth plus income) than that of the short dated investment grade corporate bond market over any five year period while applying ESG Criteria.
Investment Policy	Until 15 February 2023
The Fund invests at least 80% of its Net Asset Value in fixed and floating rate debt securities issued by investment grade companies and in asset-backed securities.
The Fund may also invest in high yield corporate bonds, debt securities issued by governments and their agencies, public authorities, quasi-sovereigns and supranational bodies. The Fund may also invest in unrated bonds. There are no credit quality restrictions with respect to the high yield debt securities in which the Fund may invest.
These securities may be issued anywhere in the world, including emerging markets and denominated in any currency. The Fund does not take currency views and aims to hedge any non-EUR assets to EUR.
The Fund uses an investment process that is based on both a top-down macroeconomic view and fundamental analysis of individual securities.
The Fund invests in short dated corporate bonds and/or securities which on aggregate produce a low portfolio duration, in order to limit the effect of interest rate movements on the Fund’s capital value.
The Fund may invest up to a combined maximum of 20% of the Fund’s Net Asset Value in
high yield and unrated securities.
The Fund may hold up to 100% of its Net Asset Value in asset-backed securities and a maximum of 20% of its Net Asset Value in contingent convertible debt securities.
The Fund may invest in asset-backed securities, including mortgage-backed securities (commercial, agency residential, prime residential, non-prime residential), cash collateralised debt obligation, cash collateralised loan obligation, auto prime, auto subprime, consumer loan, credit card, student loan, aircraft loan/lease, equipment lease, small business loan/lease, whole business securitisation, single family rentals and other securitised assets.
The Fund will typically invest directly. The Fund may also invest indirectly via derivative instruments to take both long and short positions to meet the Fund’s investment objective and for efficient portfolio management. Such derivative instruments may also be used for the purpose of hedging. These derivative instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, credit default swaps, interest rate swaps, and total return swaps.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits, equities, warrants and other debt securities.
From 16 February 2023
The Fund invests at least 80% of its Net Asset Value in fixed and floating rate debt securities issued by investment grade companies and in asset-backed securities.
The Fund may also invest in high yield corporate bonds, debt securities issued by governments and their agencies, public authorities, quasi-sovereigns and supranational bodies. The Fund may also invest in unrated bonds. There are no credit quality restrictions with respect to the high yield debt securities in which the Fund may invest.
These securities may be issued anywhere in the world, including emerging markets and denominated in any currency. The Fund does not take currency views and aims to hedge any non-EUR assets to EUR.
The Fund uses an investment process that is based on both a top-down macroeconomic view and fundamental analysis of individual securities.
The Fund invests in short dated corporate bonds and/or securities which on aggregate produce a low portfolio duration, in order to limit the effect of interest rate movements on the Fund’s capital value.
The Fund may invest up to a combined maximum of 20% of the Fund’s Net Asset Value in
high yield and unrated securities.
The Fund may hold up to 100% of its Net Asset Value in asset-backed securities and a maximum of 20% of its Net Asset Value in contingent convertible debt securities.
The Fund may invest in asset-backed securities, including mortgage-backed securities (commercial, agency residential, prime residential, non-prime residential), cash collateralised debt obligation, cash collateralised loan obligation, auto prime, auto subprime, consumer loan, credit card, student loan, aircraft loan/lease, equipment lease, small business loan/lease, whole business securitisation, single family rentals and other securitised assets.
The Fund seeks to make investments that meet the ESG Criteria, applying an Exclusionary Approach as described in the precontractual annex to this Fund Supplement.
The Fund will typically invest directly. The Fund may also invest indirectly via derivative instruments to take both long and short positions to meet the Fund’s investment objective and for efficient portfolio management. Such derivative instruments may also be used for the purpose of hedging. These derivative instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, credit default swaps, interest rate swaps, and total return swaps.
The Fund may also invest in other assets including collective investment schemes, cash and near cash, deposits, equities, warrants and other debt securities.
Investment Strategy	Investment Approach
Until 15 February 2023
The Investment Manager considers macroeconomic, asset class, sector, geographic and individual credit-level factors.
The dynamic investment approach combines top-down and bottom-up stock selection, allowing the Investment Manager to change the blend of duration and credit exposure
based on the outlook for bond markets, while maintaining its inherently low duration profile through its bias towards short-dated corporate bonds.
An in-house team of credit analysts assists the Investment Manager in individual credit selection along with the monitoring of names held by the Fund.
From 16 February 2023
The Investment Manager considers macroeconomic, asset class, sector, geographic and individual credit-level factors.
The dynamic investment approach combines top-down and bottom-up stock selection, allowing the Investment Manager to change the blend of duration and credit exposure based on the outlook for bond markets, while maintaining its inherently low duration profile through its bias towards short-dated corporate bonds.
An in-house team of credit analysts assists the Investment Manager in individual credit selection along with the monitoring of names held by the Fund.
Until 15 February 2023 Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
From 16 February 2023
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
Until 15 February 2023 SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote
environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
From 16 February 2022
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	Markit iBoxxEUR Corporates 1-3 year Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund's portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the Share Class currency.
Profile of Typical Investor
Until 15 February 2023
The Fund may be suitable for retail and Institutional Investors seeking a total return from a portfolio of global fixed income investments that has a low portfolio duration on average, but who appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
From 16 February 2023
The Fund is suitable for retail and Institutional Investors seeking a total return from a portfolio of global fixed income investments that has a low portfolio duration on average, and who want a fund that applies ESG Factors and consider Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	EUR
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR
Leverage	The Fund’s expected level of leverage under normal market conditions is 150% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Interest rate
- Securitised bonds
- Emerging markets
- Contingent convertible debt securities
- Liquidity
- Counterparty
- Derivative instruments
- Exposure greater than net asset value
- Short sales
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 0.25% | 3.25% | - | - | - | 0.05% | 0.15% |
| C | 0.10% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.10% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.10% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.10% | - | - | - | - | 0.01% | 0.15% |
| X | 0.25% | - | - | 1.00% | See | 0.05% | 0.15% |
|  |  |  |  |  | CDSC |  |  |
|  |  |  |  |  | Schedul |  |  |
|  |  |  |  |  | e below |  |  |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Short Dated Corporate Bond Fund
Legal Entity Identifier: 
549300PT8Y5VIWCSER97
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society. For securitised investments such as asset-backed securities (ABS), this also includes assessing them against the Investment Manager’s proprietary scoring methodology (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Exclusionary approach: Percentage (%) of ABS below the Investment Manager’s threshold for alignment


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- From this narrowed investment universe, the Investment Manager performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities.

The Fund’s ESG Criteria apply to at least:
- 90% of debt securities, money market instruments with an investment grade credit rating; sovereign debt issued by developed countries; and equities issued by large capitalisation companies in developed countries;
- 75% of debt securities and money market instruments with a high yield credit rating; sovereign debt issued by emerging market countries; equities issued by large capitalisation companies in emerging market countries; and equities issued by small and mid-capitalisation companies in any country.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives may be considered aligned with the promoted environmental and/or social characteristics on the following basis:
Exclusions:
- Where a derivative represents exposure to a single name it must be a permitted investment for the Fund.
- Where a derivative represents exposure to a diversified financial index, it must deliver an evidencable alignment to the promoted characteristics.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, FX, interest rate derivatives and similar derivatives (which may include certain technical trades such as government bond futures used for duration trades) as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied.
Derivatives used to take investment exposure to diversified financial indices (excluding technical trades), and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Sustainable Emerging Markets Corporate Bond Fund
Launch Date	25 July 2019
Investment Objective  The Fund aims to provide a higher total return (capital growth plus income) than that of the corporate bond market in emerging markets over any three-year period while applying ESG Criteria.
Investment Policy	The Fund invests at least 80% of its Net Asset Value in debt securities issued by companies and quasi-sovereigns that are incorporated, domiciled, or do most of their business activity in emerging markets, and are denominated in hard currency.
The Fund may also invest in debt securities issued or guaranteed by emerging market governments or their agencies, local authorities, public authorities and supranational bodies and other debt securities denominated in any currency.
The Fund may invest in Chinese onshore debt securities denominated in CNY traded on the China Interbank Bond Market.
There are no credit quality restrictions applicable to the investments and the Fund may invest up to 100% of its Net Asset Value in below investment grade and unrated debt securities.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and a Positive ESG Outcome as described in the precontractual annex to this Fund Supplement.
The Fund may invest up to 10% of its Net Asset Value in asset-backed securities.
The Fund may invest in contingent convertible debt securities up to 20% of its Net Asset Value
The Fund may invest in other transferable securities, cash, and near cash, directly or via collective investment schemes (i.e. UCITS and other UCIs including funds managed by M&G).
The Fund may use derivatives for investment purposes, efficient portfolio management and hedging. These instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, credit default swaps, interest rate swaps and credit linked notes.
Investment Strategy	Investment Approach
The Fund’s investment approach involves an in-depth analysis of corporate bond issuers from emerging markets. Given the nature of emerging markets, the analysis of corporate bonds and their issuers will be performed in conjunction with a detailed credit assessment of the relevant sovereign(s).
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / Sustainable.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	JPM CEMBI Broad Diversified Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors who seek capital growth and income from a portfolio of emerging market corporate debt securities and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least three years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR, and as from 31 January 2023 Relative VaR
The global exposure relating to this Fund will be calculated using a relative VaR approach benchmarked against the JPM CEMBI Broad Diversified Index.
Leverage	The Fund’s expected level of leverage under normal market conditions is 100% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Emerging markets
- China
- Interest rate
- Credit
- Currency & exchange rate
- Liquidity
- Counterparty
- Securitised bonds
- Contingent convertible debt securities
- Derivative instruments
- Exposure greater than net asset value
- Short sales
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.50% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.00% | - | - | - | - | 0.05% | 0.15% |
| C | 0.60% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.60% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.60% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.60% | - | - | - | - | 0.01% | 0.15% |
| L | 0.35% | 1.25% | - | - | - | 0.05% | 0.15% |
| LI | 0.35% | 1.25% | - | - | - | 0.01% | 0.15% |
| N | Up to 1.50% | 4.00% | - | - | - | 0.05% | 0.15% |
| X | 1.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Sustainable Emerging Markets Corporate Bond Fund
Legal Entity Identifier: 
2549007K6TQBRKISX148
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 40% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a strategy to achieve a Positive ESG Outcome (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society and to assist it in delivering more sustainable outcomes. For securitised investments such as asset-backed securities (ABS), this also includes assessing them against the Investment Manager’s proprietary scoring methodology (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to do significant harm to environmental and/or social objectives.
The Fund typically has a higher weighted average ESG rating and lower weighted average carbon intensity than an index used as a proxy for its investment universe (“Positive ESG Outcome”). The Fund’s calculation methodology does not include those securities that do not have carbon intensity data respectively, or cash, near cash, some derivatives and some collective investment schemes.
In constructing a portfolio which favours investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings remaining within the narrowed universe. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Exclusionary approach: Percentage (%) of ABS below the Investment Manager’s threshold for alignment
- Positive ESG Outcome: Portfolio weighted average ESG score versus investment universe weighted average ESG score
- Positive ESG Outcome: Portfolio weighted average carbon intensity versus investment universe weighted average carbon intensity


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund. Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Sustainability considerations, encompassing ESG factors, are fully integrated into analysis and investment decisions, and play an important role in determining the investment universe and portfolio construction.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then assesses the ESG credentials of the remaining issuers. Based upon a combination of external ESG ratings and the Investment Manager’s assessment, lower scoring issuers classified as ESG laggards are excluded.
- From this narrowed investment universe, the Investment Manager performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process typically results in a portfolio with better ESG characteristics. In constructing a portfolio which favours investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings remaining within the narrowed universe.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
20%
Whilst any commitment on the minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy as a result of the Fund’s exclusions is intended to be binding, as this is calculated by considering the Fund’s exclusions against a proxy for the investment universe (such as a financial index) outside the control of the Investment Manager, and as additional exclusions will require an update of fund materials, it is possible that the Fund may temporarily be out of compliance with this commitment.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
We expect at least 70% of the fund to be aligned to the promoted E/S characteristics. At least 40% of the fund will be in Sustainable Investments
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives may be considered aligned with the promoted environmental and/or social characteristics on the following basis:
Exclusions:
- Where a derivative represents exposure to a single name it must be a permitted investment for the Fund.
- Where a derivative represents exposure to a diversified financial index, it must deliver an evidencable alignment to the promoted characteristics.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, FX, interest rate derivatives and similar derivatives (which may include certain technical trades such as government bond futures used for duration trades) as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied.
Derivatives used to take investment exposure to diversified financial indices (excluding technical trades), and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Sustainable Global High Yield Bond Fund
Launch Date	5 October 2017
Investment Objective  The Fund aims to provide a higher total return (capital growth plus income) than that of the sustainable global high yield market over any five-year period, while applying ESG Criteria.
Investment Policy	The Fund invests at least 80% of its Net Asset Value in high yield bonds issued by companies located anywhere in the world including emerging markets, and denominated in any currency.
The Fund does not take currency views and aims to hedge any non-USD assets to USD. There are no credit quality restrictions applicable to the investments and the Fund may invest up to 100% of its Net Asset Value in high yield and unrated debt securities.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and a Positive ESG Outcome as described in the precontractual annex to this Fund Supplement.
The Fund may invest up to 20% of its Net Asset Value in asset-backed securities and up to 20% of its Net Asset Value in contingent convertible debt securities.
The Fund may also invest in other transferable securities, cash, and near cash, directly or via collective investment schemes (i.e. UCITS and other UCIs including funds managed by M&G).
The Fund may use derivatives for investment purposes, efficient portfolio management and hedging. These instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, credit default swaps, interest rate swaps, total return swaps and credit linked notes.
Investment Strategy	Investment Approach
The Fund is globally diversified and seeks to provide exposure to a broad range of issuers across a variety of sectors.
The Investment Manager has the flexibility to adjust the Fund’s credit exposure, sector positioning and regional allocations based on the assessment of current market valuations and the macroeconomic environment.
Individual credit selection based on bottom-up analysis of the corporate bond markets by in-house credit analysts complements the Investment Manager’s views.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / Sustainable.
EU Sustainable Finance Disclosure Regulation
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	Bloomberg MSCI Global HY Corporate ESG BB+ Sustainable SRI Bond Index
The benchmark is a comparator against which the Fund’s performance can be measured. The index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The Investment Manager refers to the benchmark when constructing the Fund’s portfolio but is not bound by the benchmark rules when selecting investments. Further information on the benchmark can be found on the Bloomberg website.
The benchmark is shown in the Share Class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors who seek capital growth and income from a portfolio of higher yielding corporate debt securities and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objectives. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR, and as from 31 January 2023 Relative VaR
The global exposure relating to this Fund will be calculated using a relative VaR approach benchmarked against the Bloomberg MSCI Global HY Corporate ESG BB+ Sustainable SRI Bond Index.
Leverage	The Fund’s expected level of leverage under normal market conditions is 150% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & Income will vary
- Credit
- Interest rate
- Emerging markets
- Contingent convertible debt securities
- Securitised bonds
- Liquidity
- Counterparty
- Derivative instruments
- Exposure greater than net asset value
- Short sales
- ESG dataInvestors should read the section “Risk Factors” for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.00% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 1.50% | - | - | - | - | 0.05% | 0.15% |
| C | 0.40% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.40% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.40% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.40% | - | - | - | - | 0.01% | 0.15% |
| L | 0.20% | 1.25% | - | - | - | 0.05% | 0.15% |
| LI | 0.20% | 1.25% | - | - | - | 0.01% | 0.15% |
| N | Up to 1.00% | 4.00% | - | - | - | 0.05% | 0.15% |
| X | 1.00% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section “Important Information” which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section “Fees and Expenses” of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Sustainable Global High Yield Bond Fund
Legal Entity Identifier: 
222100FNZWQINHRH8058
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 40% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a strategy to achieve a Positive ESG Outcome (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society and to assist it in delivering more sustainable outcomes. For securitised investments such as asset-backed securities (ABS), this also includes assessing them against the Investment Manager’s proprietary scoring methodology (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to do significant harm to environmental and/or social objectives.
The Fund typically has a higher weighted average ESG rating and lower weighted average carbon intensity than an index used as a proxy for its investment universe (“Positive ESG Outcome”). The Fund’s calculation methodology does not include those securities that do not have carbon intensity data respectively, or cash, near cash, some derivatives and some collective investment schemes.
In constructing a portfolio which favours investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings remaining within the narrowed universe. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Exclusionary approach: Percentage (%) of ABS below the Investment Manager’s threshold for alignment
- Positive ESG Outcome: Portfolio weighted average ESG score versus investment universe weighted average ESG score
- Positive ESG Outcome: Portfolio weighted average carbon intensity versus investment universe weighted average carbon intensity


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund. Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Sustainability considerations, encompassing ESG factors, are fully integrated into analysis and investment decisions, and play an important role in determining the investment universe and portfolio construction.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then assesses the ESG credentials of the remaining issuers. Based upon a combination of external ESG ratings and the Investment Manager’s assessment, lower scoring issuers classified as ESG laggards are excluded.
- From this narrowed investment universe, the Investment Manager performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process typically results in a portfolio with better ESG characteristics. In constructing a portfolio which favours investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings remaining within the narrowed universe.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
20%
Whilst any commitment on the minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy as a result of the Fund’s exclusions is intended to be binding, as this is calculated by considering the Fund’s exclusions against a proxy for the investment universe (such as a financial index) outside the control of the Investment Manager, and as additional exclusions will require an update of fund materials, it is possible that the Fund may temporarily be out of compliance with this commitment.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
We expect at least 70% of the fund to be aligned to the promoted E/S characteristics. At least 40% of the fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives may be considered aligned with the promoted environmental and/or social characteristics on the following basis:
Exclusions:
- Where a derivative represents exposure to a single name it must be a permitted investment for the Fund.
- Where a derivative represents exposure to a diversified financial index, it must deliver an evidencable alignment to the promoted characteristics.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, FX, interest rate derivatives and similar derivatives (which may include certain technical trades such as government bond futures used for duration trades) as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied.
Derivatives used to take investment exposure to diversified financial indices (excluding technical trades), and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Sustainable Macro Flexible Credit Fund
Launch Date	24 February 2022
Investment Objective  The Fund aims to provide a total return (income plus capital growth) of at least cash* plus 3.5% a year, before any charges** are taken, over any five-year period, while applying ESG Criteria.
* As based on 1-month Euribor, the rate at which banks borrow money from each other.
** Investors should refer to the section “Fees and Expenses”.
Investment Policy	The Fund invests at least 70% of its Net Asset Value in corporate bonds, government bonds, cash and near cash, money market instruments, asset-backed securities, and preference shares.
The Fund may invest up to 40% of its Net Asset Value in asset-backed securities and mortgage-backed securities (including, but not limited to, consumer ABS, cash collateralised loan obligations, and whole-business securitisation).
The Fund may invest in convertible bonds including up to 20% of its Net Asset Value in contingent convertible debt securities.
Issuers of these securities may be located in any country, including emerging markets. Investments may be denominated in any currency however at least 75% of the Fund’s Net Asset Value will be denominated in Euro or hedged back to Euro.
There are no credit quality restrictions applicable to these investments.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and a Positive ESG Outcome as described in the precontractual annex to this Fund Supplement.
The Fund may also invest indirectly via funds (i.e. UCITS and other UCIs including funds managed by M&G), and may invest in other transferable securities.
The Fund may use derivatives for investment purposes, efficient portfolio management and hedging. These instruments may include, but are not limited to, spot and forward contracts, exchanged traded futures, options, credit default swaps, and interest rate swaps.
Investment Strategy   Investment Approach
The Fund has the flexibility to invest in a broad range of debt securities across credit markets globally. The Fund aims to generate total return over the economic and credit cycles, using an investment approach which combines bottom-up credit selection and active management of interest rate exposure.
The credit selection strategy focuses on generating returns from market, sector and security selection. The Fund’s interest rate exposure is adjusted in response to changes in the macroeconomic outlook and market conditions. Throughout the implementation of these strategies, the Investment Manager actively manages interest rate exposure across the maturity spectrum as a complement to credit returns.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / Sustainable.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	1-month Euribor + 3.5%
The benchmark is a target which the Fund seeks to achieve. The rate has been chosen as the Fund’s benchmark as it is an achievable performance target based on the Fund’s investment approach. The benchmark is used solely to measure the Fund’s performance objective and does not constrain the Fund’s portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which assets to buy, hold and sell in the Fund.
The benchmark is shown in the share class currency as set out in the table below.
| Share Class | Performance Comparator |
| --- | --- |
| CHF / CHF Hedged | SARON + 3.5% |
| GBP / GBP Hedged | SONIA + 3.5% |
| USD / USD Hedged | SOFR + 3.5% |

Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors who seek capital growth and income from a portfolio of global bonds and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	EUR
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR
Leverage	The Fund’s expected level of leverage under normal market conditions is 450% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Subscriptions	Class V Shares are only available for subscription for 8 weeks following their launch (the “Subscription Window”). At the end of the Subscription Window, Class V Shares will be closed to subscriptions for three years.
For all other Share Classes, see section “Subscriptions” of the Prospectus.
Switches	Switches are not allowed from other Funds into Class V Shares of the Fund, unless otherwise decided by the Board of Directors. Switches from Class V Shares of the Fund into other Funds are not allowed until the three year anniversary of the closure of the Subscription Window onwards, unless otherwise decided by the Board of Directors.
Distribution Policy  If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Fees and Expenses   Unlike what is described in the section Fees and Expenses, the Management Company will take a single charge from each Share Class of the Fund to cover its duties, as well as operating, administration and oversight costs associated with these Share Classes in the Fund. Such charge will be calculated and taken into account daily ("Single Charge").
The Single Charge includes:
- Annual Management Charge;
- Administration Charge (the discount on the Administration Charge as described in the section "Fees and Expenses" of the Prospectus is not applicable to Funds that apply a Single Charge);
- Share Class Hedging Charge (where applicable);
- Taxe d’abonnement;
- Depositary’s Charge;
- Custody Charges and Custody Transaction Charges; and
- Other expenses. The Single Charge excludes:
- Portfolio transaction costs (dealing spread, broker commissions, transfer taxes andstamp duty incurred by the Company on the Fund’s transactions);
- Any initial charge or redemption charge; and
- Any extraordinary expenses including, without limitation, litigation expenses and the full amount of any tax, levy, duty or similar charge imposed on the Fund that would not be considered as ordinary expenses.

Where a Fund invests in the units or shares of other funds, the fees and expenses incurred in underlying funds follow the treatment described in the section "Fees and Expenses" of the Prospectus.
For Class Z and ZI Shares, the Single Charge will be administratively levied and collected directly from the investor by the Management Company.
Separate to the Single Charge, and for Class V Shares only, a fee (the “Placement Fee”) will apply at the end of the Subscription Window. The Placement Fee of 2% is a one-off fee paid by the Fund to the distributor of Class V Shares. It is calculated based on the Class V Shares’ Net Asset Value as at the end of the Subscription Window. Where these fees are payable, M&G will reimburse the Fund.
The Placement Fee payment is recouped by M&G via the Single Charge applicable to the Class V Shares up to the Fund’s three year anniversary, or in the event of investor redemption, via the redemption charge applicable until the three year anniversary of the closure of the Subscription Window. The Placement Fee paid by M&G and the recoup of the Placement Fee (or pro rata recoup of the Placement Fee in the event of investor redemption within the Fund’s three year anniversary) may not exactly match.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Counterparty
- Negative duration
- Interest rate
- Currency & exchange rate
- Emerging markets
- Securitised bonds
- Contingent convertible debt securities
- Derivative instruments
- Liquidity
- Redemption charge
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Single (annual rate) | Initial Charge | Redemption Charge |
| --- | --- | --- | --- |
| P | 1.10% | 3.25% | - |
| P2 | 1.10% | 3.25% | - |
| U | 0.52% | 1.25% | - |
| UI | 0.48% | 1.25% | - |
| V | 1.35% | - | See the schedule below |
| W | 0.59% | 1.25% | - |
| WI | 0.55% | 1.25% | - |
| Z | - | - | - |
| ZI | - | - | - |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
Redemption Charge Schedule
Shareholders who redeem from Class V Shares prior to the three year anniversary of the closure of the Subscription Window may be subject to quarterly reducing redemption charges as follows:
| Quarter	1	2	3	4	5	6	7	8	9	10	11	12 |
| --- |
| Redemption Charge	2.00%	1.83%	1.66%	1.49%	1.32%	1.15%  0.98%  0.81%	0.64%  0.47%  0.30%  0.13% |

The Directors may reduce or waive the Redemption Charge amount in their sole discretion.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Sustainable Macro Flexible Credit Fund
Legal Entity Identifier: 
254900MBYTIXGWFWME22
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 51% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a strategy to achieve a Positive ESG Outcome (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society and to assist it in delivering more sustainable outcomes. For securitised investments such as asset-backed securities (ABS), this also includes assessing them against the Investment Manager’s proprietary scoring methodology (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to do significant harm to environmental and/or social objectives.
The Fund typically has a higher weighted average ESG rating and lower weighted average carbon intensity than an index used as a proxy for its investment universe (“Positive ESG Outcome”). The Fund’s calculation methodology does not include those securities that do not have carbon intensity data respectively, or cash, near cash, some derivatives and some collective investment schemes.
In constructing a portfolio which favours investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings remaining within the narrowed universe. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Exclusionary approach: Percentage (%) of ABS below the Investment Manager’s threshold for alignment
- Positive ESG Outcome: Portfolio weighted average ESG score versus investment universe weighted average ESG score
- Positive ESG Outcome: Portfolio weighted average carbon intensity versus investment universe weighted average carbon intensity


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund. Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Sustainability considerations, encompassing ESG factors, are fully integrated into analysis and investment decisions, and play an important role in determining the investment universe and portfolio construction.
In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then assesses the ESG credentials of the remaining issuers. Based upon a combination of external ESG ratings and the Investment Manager’s assessment, lower scoring issuers classified as ESG laggards are excluded.
- From this narrowed investment universe, the Investment Manager performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process typically results in a portfolio with better ESG characteristics. In constructing a portfolio which favours investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings remaining within the narrowed universe.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
20%
Whilst any commitment on the minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy as a result of the Fund’s exclusions is intended to be binding, as this is calculated by considering the Fund’s exclusions against a proxy for the investment universe (such as a financial index) outside the control of the Investment Manager, and as additional exclusions will require an update of fund materials, it is possible that the Fund may temporarily be out of compliance with this commitment.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the fund to be aligned to the promoted E/S characteristics. At least 51% of the fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives may be considered aligned with the promoted environmental and/or social characteristics on the following basis:
Exclusions:
- Where a derivative represents exposure to a single name it must be a permitted investment for the Fund.
- Where a derivative represents exposure to a diversified financial index, it must deliver an evidencable alignment to the promoted characteristics.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, FX, interest rate derivatives and similar derivatives (which may include certain technical trades such as government bond futures used for duration trades) as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied.
Derivatives used to take investment exposure to diversified financial indices (excluding technical trades), and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Sustainable Optimal Income Bond Fund
Launch Date	14 December 2021
Investment Objective  The Fund aims to provide a higher total return (capital growth plus income) than that of the sustainable global bond market over any five-year period, based on exposure to optimal income streams in global bond markets, while applying ESG Criteria.
Investment Policy	The Fund invests at least 70% of its Net Asset Value in debt securities, including investment grade bonds, high yield bonds, unrated securities and asset-backed securities. These securities may be issued by governments and their agencies, public authorities, quasi- sovereigns, supranational bodies and companies. Issuers of these securities may be located in any country, including emerging markets, and denominated in any currency.
While the Fund’s overall duration will not be negative, the Fund may derive negative duration from individual fixed income markets.
The Fund may invest up to a combined maximum of 100% of the Fund’s Net Asset Value in below investment grade and unrated securities. There are no credit quality restrictions with respect to the debt securities in which the Fund may invest.
The Fund may invest in Chinese onshore debt securities denominated in CNY traded on the China Interbank Bond Market.
The Fund may also hold up to a maximum of 20% of its Net Asset Value in contingent convertible debt securities and up to a maximum of 20% of its Net Asset Value in asset- backed securities.
Currency exposures in the Fund are typically in EUR or hedged back to EUR.
The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and a Positive ESG Outcome as described in the precontractual annex to this Fund Supplement.
The Fund may also invest indirectly via funds (i.e. UCITS and other UCIs including funds managed by M&G), and may invest in other transferable securities such as short dated bonds and money market instruments for liquidity management, cash, and near cash.
The Fund may use derivatives for investment purposes, efficient portfolio management and hedging. These instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, options, credit default swaps, total return swaps, interest rate swaps.
Investment Strategy	Investment Approach
The Fund is a flexible bond fund investing across a broad range of debt securities globally, and where the Investment Manager finds value based on exposure to optimal income streams in the global bond markets.
The Investment Manager begins with a top-down assessment of the macroeconomic environment, including the likely path of growth, inflation and interest rates. The results of this analysis help inform the Fund’s duration positioning and its allocation to the various bond asset classes.
Individual credit selection based on bottom-up analysis of the bond markets by in-house credit analysts complements the Investment Manager’s views.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / Sustainable.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	A composite index comprising:
- 1/3 Bloomberg MSCI Global Agg Treasury ESG BB+ Sustainable SRI Bond Index EUR Hedged
- 1/3 Bloomberg MSCI Global Agg Corporate ESG BB+ Sustainable SRI Bond Index EURHedged
- 1/3 Bloomberg MSCI Global High Yield ESG BB+ Sustainable SRI Bond Index EUR HedgedThe benchmark is a comparator against which the Fund’s performance can be measured. The composite index has been chosen as the Fund’s benchmark as it best reflects the scope of the Fund’s investment policy. The benchmark does not constrain the Fund's portfolio construction.

The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund. The Fund’s holdings may deviate significantly from the benchmark’s constituents.
The Investment Manager refers to the benchmark when constructing the Fund’s portfolio but is not bound by the benchmark rules when selecting investments. Further information on the benchmark can be found on the Bloomberg website.
The benchmark is shown in the share class currency.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors seeking to gain a combination of capital growth and income from a portfolio of debt securities and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	EUR
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR
Leverage	The Fund’s expected level of leverage under normal market conditions is 200% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a semi-annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Interest rate
- Currency & exchange rate
- Emerging markets
- China
- Securitised bonds
- Contingent convertible debt securities
- Derivative instruments
- Exposure greater than net asset value
- Short Sales
- Liquidity
- Counterparty
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.25% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 1.75% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| L | Up to 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| LI | Up to 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| X | 1.25% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Sustainable Optimal Income Bond Fund
Legal Entity Identifier: 
254900JKCO00UZ0A2X81
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective: %
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective: %
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 51% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach and a strategy to achieve a Positive ESG Outcome (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society and to assist it in delivering more sustainable outcomes. For securitised investments such as asset-backed securities (ABS), this also includes assessing them against the Investment Manager’s proprietary scoring methodology (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to do significant harm to environmental and/or social objectives.
The Fund typically has a higher weighted average ESG rating and lower weighted average carbon intensity than an index used as a proxy for its investment universe (“Positive ESG Outcome”). The Fund’s calculation methodology does not include those securities that do not have carbon intensity data respectively, or cash, near cash, some derivatives and some collective investment schemes.
In constructing a portfolio which favours investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings remaining within the narrowed universe. At an individual security level, the Investment Manager favours investments with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Exclusionary approach: Percentage (%) of ABS below the Investment Manager’s threshold for alignment
- Positive ESG Outcome: Portfolio weighted average ESG score versus investment universe weighted average ESG score
- Positive ESG Outcome: Portfolio weighted average carbon intensity versus investment universe weighted average carbon intensity


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund. Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Sustainability considerations, encompassing ESG factors, are fully integrated into analysis and investment decisions, and play an important role in determining the investment universe and portfolio construction. In order to identify securities for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then assesses the ESG credentials of the remaining issuers. Based upon a combination of external ESG ratings and the Investment Manager’s assessment, lower scoring issuers classified as ESG laggards are excluded.
- From this narrowed investment universe, the Investment Manager performs further analysis, including consideration of ESG factors, to identify and take advantage of investment opportunities. The Investment Manager favours issuers with better ESG characteristics where this is not detrimental to the pursuit of the financial investment objective. This process typically results in a portfolio with better ESG characteristics. In constructing a portfolio which favours investments with better ESG characteristics, the Investment Manager may nonetheless invest in investments across the full spectrum of ESG ratings remaining within the narrowed universe.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
20%
Whilst any commitment on the minimum rate to reduce the scope of the investments considered prior to the application of the investment strategy as a result of the Fund’s exclusions is intended to be binding, as this is calculated by considering the Fund’s exclusions against a proxy for the investment universe (such as a financial index) outside the control of the Investment Manager, and as additional exclusions will require an update of fund materials, it is possible that the Fund may temporarily be out of compliance with this commitment.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the fund to be aligned to the promoted E/S characteristics. At least 51% of the fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives may be considered aligned with the promoted environmental and/or social characteristics on the following basis:
Exclusions:
- Where a derivative represents exposure to a single name it must be a permitted investment for the Fund.
- Where a derivative represents exposure to a diversified financial index, it must deliver an evidencable alignment to the promoted characteristics.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, FX, interest rate derivatives and similar derivatives (which may include certain technical trades such as government bond futures used for duration trades) as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied.
Derivatives used to take investment exposure to diversified financial indices (excluding technical trades), and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

## Multi Asset Funds

### M&G (Lux) Dynamic Allocation Fund
Launch Date	16 January 2018
Investment Objective   Until 15 February 2023
The Fund aims to deliver a positive total return (the combination of income and capital growth) of 5-10% per annum in any three-year period, through investment in a range of global assets.
From 16 February 2023
The Fund aims to deliver a positive total return (the combination of income and capital growth) of 5-10% per annum in any three-year period, through investment in a range of global assets while applying ESG Criteria.
Investment Policy	Until 15 February 2023
The Fund has a highly flexible investment approach with the freedom to invest in different types of assets issued anywhere in the world and denominated in any currency.
The Fund will typically use derivatives to gain exposure to these assets. The Fund may also use derivatives to take short positions (holding derivatives with the aim of delivering a positive return when the assets they are linked to fall in value) and to gain exposure to investments exceeding the Net Asset Value of the Fund in order to increase potential returns in both rising and falling markets.
The Fund may invest in China A Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Exchange or, as from 1 February 2023 the QFI status granted to the Investment Manager.
The Fund may also invest directly in these assets, or indirectly through other collective investment schemes. The Fund can also invest in currencies, cash, near cash, deposits and warrants. The Investment Manager will normally seek to hold more than 30% of the Fund’s Net Asset Value in euro denominated assets (or other currencies hedged back to euro). Additionally, the Investment Manager will seek to hold a minimum of 60% of the Fund’s Net Asset Value in a combination of USD, sterling and euro denominated assets (these can be direct or hedged positions).
The Fund will normally invest within the following net allocation ranges: 0-80% in fixed income, 20-60% in equities and 0-20% in ‘other’ assets.
Fixed income instruments that the fund may invest in include the following:
- derivatives whose value is derived from bonds, interest rates or credit risk;
- bonds issued or guaranteed by companies, governments, local authorities, government agencies or certain public international bodies;
- bonds from issuers located in emerging markets;
- Chinese onshore bonds denominated in CNY traded on the China Interbank Bond Market;
- bonds which are rated investment grade by a recognised rating agency;
- unrated bonds and bonds which are rated sub-investment grade, up to 60% of theFund’s Net Asset Value; and
- Asset-backed securities, up to 20% of the Fund’s Net Asset Value.

Equity instruments that the Fund may invest in include (a) derivatives whose value is derived from company shares and (b) direct company shares. Other assets, for this purpose, include convertible bonds and contingent convertible debt securities. Contingent convertible debt securities are subject to a maximum of 5% of the Fund’s Net Asset Value. Also included in ‘other assets’, mostly to provide a relatively uncorrelated source of returns to the Fund, are shares in closed-ended real estate investment trusts or investments in companies acting in real estate and/or infrastructure sector.
Derivatives can be used to meet the Fund’s investment objective, for hedging purposes, and for efficient portfolio management. The derivative instruments that the Fund can invest in to achieve its objectives include, but are not limited to, spot and forward contracts, exchange traded futures, swaps, credit default swaps, options, and total return swaps.
From 16 February 2023
The Fund has a highly flexible investment approach with the freedom to invest in different types of assets issued anywhere in the world and denominated in any currency.
The Fund will normally invest within the following net allocation ranges: 0-80% in fixed income, 20-60% in equities and 0-20% in ‘other’ assets.
The Fund will typically use derivatives to gain exposure to these assets. The Fund may also use derivatives to take short positions (holding derivatives with the aim of delivering a positive return when the assets they are linked to fall in value) and to gain exposure to investments exceeding the Net Asset Value of the Fund in order to increase potential returns in both rising and falling markets. Derivatives can be used to meet the Fund’s investment objective, for hedging purposes, and for efficient portfolio management. The derivative instruments that the Fund can invest in to achieve its objectives include, but are not limited to, spot and forward contracts, exchange traded futures, swaps, credit default swaps, options, and total return swaps.
The Fund may also invest directly in these assets, or indirectly through other collective investment schemes. The Fund can also invest in currencies, cash, near cash, deposits and warrants. The Investment Manager will normally seek to hold more than 30% of the Fund’s Net Asset Value in euro denominated assets (or other currencies hedged back to euro). Additionally, the Investment Manager will seek to hold a minimum of 60% of the Fund’s Net Asset Value in a combination of USD, sterling and euro denominated assets (these can be direct or hedged positions).
Fixed income instruments that the fund may invest in include the following:
- derivatives whose value is derived from bonds, interest rates or credit risk;
- bonds issued or guaranteed by companies, governments, local authorities, government agencies or certain public international bodies;
- bonds from issuers located in emerging markets;
- Chinese onshore bonds denominated in CNY traded on the China Interbank Bond Market;
- bonds which are rated investment grade by a recognised rating agency;
- unrated bonds and bonds which are rated sub-investment grade, up to 60% of theFund’s Net Asset Value; and
- Asset-backed securities, up to 20% of the Fund’s Net Asset Value.

Equity instruments that the Fund may invest in include (a) derivatives whose value is derived from company shares and (b) direct company shares. The Fund may invest in China A Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Exchange or, as from 1 February 2023 the QFI status granted to the Investment Manager.
Other assets, for this purpose, include other transferable securities that do not constitute fixed income or equity instruments, convertible bonds and contingent convertible debt securities. Contingent convertible debt securities are subject to a maximum of 5% of the Fund’s Net Asset Value. Also included in ‘other assets’, mostly to provide a relatively uncorrelated source of returns to the Fund, are shares in closed-ended real estate investment trusts or investments in companies acting in real estate and/or infrastructure sector.
The Fund seeks to make investments that meet the ESG Criteria, applying an Exclusionary Approach as described in the precontractual annex to this Fund Supplement.
Investment Strategy	Investment Approach
Until 15 February 2023
The Investment Manager has a very flexible top-down approach to the allocation of capital between different types of assets in response to changes in economic conditions and asset values. This approach combines in-depth research to work out the value of assets over the medium to long term, with analysis of market reactions to events to identify investment opportunities. In particular, the manager seeks to respond when asset prices move away from a reasonable sense of 'fair' long-term value due to market reactions to events.
The Fund seeks to manage risk by investing globally across multiple asset classes, sectors, currencies and countries. Where the Investment Manager believes opportunities are limited to a few areas, the portfolio may be very concentrated in certain assets or markets. The Fund will typically take investment positions at index or sector level, but it may also take positions in individual shares or bonds.
The Investment Manager believes that this approach has the potential to deliver an annualised volatility (the degree to which the value of the Fund fluctuates over any 12- month period) of between 5% and 12%.
From 16 February 2023
The Investment Manager has a very flexible top-down approach to the allocation of capital between different types of assets in response to changes in economic conditions and asset values. This approach combines in-depth research to work out the value of assets over the medium to long term, with analysis of market reactions to events to identify investment opportunities. In particular, the manager seeks to respond when asset prices move away from a reasonable sense of 'fair' long-term value due to market reactions to events.
The Fund seeks to manage risk by investing globally across multiple asset classes, sectors, currencies and countries. Where the Investment Manager believes opportunities are limited to a few areas, the portfolio may be very concentrated in certain assets or markets. The Fund will typically take investment positions at index or sector level, but it may also take positions in individual shares or bonds.
The Investment Manager believes that this approach has the potential to deliver an annualised volatility (the degree to which the value of the Fund fluctuates over any 12- month period) of between 5% and 12%.
Until 15 February 2023 Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
From 16 February 2023
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
Until 15 February 2023 SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
From 16 February 2022
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	The Fund is actively managed and it has no benchmark.
Investors can assess the performance of the Fund by its objective to provide a total return of 5-10% per annum over any three-year period.
Profile of Typical Investor
Until 15 February 2023
Typical investors may be retail, professional or Institutional Investors who are looking for total return (the combination of income and capital growth) but can bear the economic risk of the loss of their investment in the Fund.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least three years.
From 16 February 2023
Typical investors may be retail, professional or Institutional Investors who are looking for total return (the combination of income and capital growth) but can bear the economic risk of the loss of their investment in the Fund and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least three years.
Reference Currency	EUR
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR
Leverage	The Fund’s expected level of leverage under normal market conditions is 250% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Derivative instruments
- Exposure greater than net asset value
- Short sales
- Credit
- Currency & exchange rate
- Liquidity
- Counterparty
- Securitised Bonds
- Contingent convertible debt securities
- Emerging markets
- China
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.75% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.25% | - | - | - | - | 0.05% | 0.15% |
| C | 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.75% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.75% | - | - | - | - | 0.01% | 0.15% |
| X | 1.75% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Dynamic Allocation Fund
Legal Entity Identifier: 
549300PZ80BI5Q8OS924
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society. For securitised investments such as asset-backed securities (ABS), this also includes assessing them against the Investment Manager’s proprietary scoring methodology (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Exclusionary approach: Percentage (%) of ABS below the Investment Manager’s threshold for alignment


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify investments for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- From this narrowed investment universe, the Investment Manager allocates capital between different types of assets in accordance with the process explained above. Within each asset class the Investment Manager performs further analysis, including consideration of ESG Factors, to identify and take advantage of investment opportunities.

The Fund’s ESG Criteria apply to at least:
- 90% of equities issued by large capitalisation companies in developed countries; debt securities, money market instruments with an investment grade credit rating; and sovereign debt issued by developed countries;
- 75% of equities issued by large capitalisation companies in emerging market countries; equities issued by small and mid-capitalisation companies in any country; debt securities and money market instruments with a high yield credit rating; and sovereign debt issued by emerging market countries.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives may be considered aligned with the promoted environmental and/or social characteristics on the following basis:
Exclusions:
- Where a derivative represents exposure to a single name it must be a permitted investment for the Fund.
- Where a derivative represents exposure to a diversified financial index, it must deliver an evidencable alignment to the promoted characteristics.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, FX, interest rate derivatives and similar derivatives (which may include certain technical trades such as government bond futures used for duration trades) as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied.
Derivatives used to take investment exposure to diversified financial indices (excluding technical trades), and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Episode Macro Fund
Launch Date	26 October 2018
Investment Objective  The Fund aims to achieve a total return (the combination of capital growth and income) of 4-8% a year above the Secured Overnight Financing Rate (SOFR), over any five-year period.
Investment Policy	The Fund has a highly flexible investment approach, with the freedom to invest in fixed income securities, equities (including closed-ended real estate investment trusts), convertible bonds, asset-backed securities, currencies, cash, near cash and deposits. These assets can be issued anywhere in the world, including emerging markets, and denominated in any currency.
The Fund will mostly gain exposure to these assets by taking investment positions at index or sector level through derivative instruments, but it may also invest directly. The Fund may also use derivative instruments to take long and short positions in markets, currencies, securities, and groups of securities and to gain exposure to investments exceeding the Net Asset Value of the Fund in order to increase potential returns in both rising and falling markets. This may result in a net long or net short position at the overall fund level.
The Fund may invest up to a combined maximum of 60% of its Net Asset Value in below investment grade and unrated debt securities. There are no credit quality restrictions with respect to the debt securities in which the Fund may invest.
The Fund may invest in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect.
The Fund may invest in Chinese onshore debt securities denominated in CNY traded on the China Interbank Bond Market.
The Fund may invest up to 20% of its Net Asset Value in contingent convertible debt securities and up to 20% of its Net Asset Value in asset-backed securities.
The Investment Manager seeks to allocate capital between different types of assets in response to investment opportunities created by changes in economic conditions and the valuation of assets. Asset allocation may change significantly and rapidly, and exposure to certain markets, sectors or currencies may at times be concentrated. Short-term volatility of the Fund may therefore be high.
Derivative instruments can be used to meet the Fund’s investment objective, for efficient portfolio management and for the purpose of hedging. These instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, options, currency swaps, credit default swaps, interest rate swaps, credit linked notes and total return swaps.
The Fund may also invest in other assets including collective investment schemes, warrants, and other transferable securities.
Investment Strategy	Investment Approach
The Investment Manager adopts a highly flexible top-down approach to the allocation of capital between different types of assets, in response to changes in economic conditions and the valuation of assets, guided by a robust valuation framework.
This approach combines in-depth research to determine the value of assets over the medium to long term, with analysis of market reactions to events to identify investment opportunities. In particular, the Investment Manager seeks to respond to opportunities
created by asset prices moving away from a reasonable sense of ’fair’ value due to market
reaction to events.
Whilst short-term volatility in the Fund may be high, the Investment Manager expects that this approach over five years should lead to a lower volatility than that of global equities (as represented by the MSCI ACWI Index).
The Investment Manager seeks to meet the investment objective through generating returns above the Fund's neutral position of cash. If all asset classes appear neutrally priced, and there are no episodic opportunities, the Fund is likely to hold significant cash positions, as reflected by the benchmark.
Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
Benchmark	SOFR + 4-8%
The benchmark is a target which the Fund seeks to achieve. The rate has been chosen as the Fund’s benchmark as it is an achievable performance target and best reflects the scope of the Fund’s investment policy. The benchmark is used solely to measure the Fund’s performance objective and does not constrain the Fund's portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which assets to buy, hold and sell in the Fund.
The benchmark is shown in the Share Class currency as set out in the table below.
| Share Class | Performance Comparator |
| --- | --- |
| CHF / CHF Hedged | SARON + 4-8% |
| EUR / EUR Hedged | ESTR + 4-8% |
| GBP / GBP Hedged | SONIA + 4-8% |

The benchmark used in the investment objective and as the Fund's performance comparator is consistent with the cash indices used as the Performance Fee Hurdle Rates per currency. As it is not possible to translate SOFR into different currency variations, the appropriate cash index has been selected as a cash index for performance comparators and Hurdle Rates for each Share Class Currency. The cash indices used as performance comparators / Performance Fee Hurdle Rates will not exactly equal SOFR, but aim to provide the most relevant cash index for each Share Class Currency and provide a reflection of the investment return versus a relevant cash proxy for investors based on the relevant Share Class Currency.
Profile of Typical Investor
Typical investors may be retail, professional or Institutional Investors who are likely to be experienced and are looking for capital growth but can bear the economic risk of the loss of their investment in the Fund.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
The Performance Fee Share Classes of the Fund are not suitable for retail execution only investors.
Reference Currency	USD
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR
Leverage	The Fund’s expected level of leverage under normal market conditions is 350% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Interest rate
- Derivative instruments
- Exposure greater than net asset value
- Short sales
- Emerging markets
- China
- Securitised bonds
- Contingent convertible debt securities
- Liquidity
- Counterparty
- Performance Fee Share ClassInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| B | 2.25% | - | - | - | - | 0.05% | 0.15% |
| S | 1.75% | 4.00% | - | - | - | 0.05% | 0.15% |
| SI | 1.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| T | 0.75% | 4.00% | - | - | - | 0.05% | 0.15% |
| TI | 0.75% | 1.25% | - | - | - | 0.01% | 0.15% |
| X | 1.75% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Performance Fee
A Performance Fee will be charged on T and TI Share Classes.
Please refer to the table below for the benchmarks used in the Performance Fee calculation.
The initial Hurdle for each relevant Share Class will be its Net Asset Value per Share calculated as at the launch date of the Share Class adjusted by one-365th of the previous day’s Hurdle Rate or it will be the relevant Share Classes’ High Water Mark adjusted by one-365th of the previous day’s Hurdle Rate, whichever is the greater.
Investors should refer to Appendix 2 for further information on the calculation methodology of Performance Fees and read "Performance Fee Share Class risk" information in the section "Risk Factors".
| Applicable Share Classes | Performance Fee | Mechanism | Performance Fee Hurdle Rate |
| --- | --- | --- | --- |
| USD | 20% | High Water Mark | SOFR |
| CHF / CHF Hedged | 20% | High Water Mark | SARON |
| EUR / EUR Hedged | 20% | High Water Mark | ESTR |
| GBP / GBP Hedged | 20% | High Water Mark | SONIA |

The Performance Fee Hurdle Rates selected above are appropriate, as the Investment Manager seeks to meet the Fund's investment objective through generating returns above the Fund's neutral position of cash.
Performance fees start accruing on a net of fees’ basis when the Net Asset Value per Share is above the Hurdle Rate and the High Water Mark, that is before the Fund’s investment objective is met.

### M&G (Lux) Global Target Return Fund
Launch Date	21 December 2016
Investment Objective  The Fund aims to achieve a total return (the combination of income and capital growth) of at least cash* plus 2-4% a year, before any charges** are taken, in any market conditions and over any three-year period.
The Fund aims to achieve this while seeking to minimise the degree to which the value of the Fund fluctuates over time (volatility), while also seeking to limit monthly losses. Managing the Fund’s volatility in this way reduces its ability to achieve returns significantly above 3-month Euribor plus 2-4% a year.
* As based on 3-month Euribor, the rate at which banks borrow money from each other.
** Investors should refer to the section 
"
Fees and Expenses
"
.
Investment Policy	The Fund has a highly flexible investment approach with the freedom to invest in different types of investment assets issued anywhere in the world.
The Fund will primarily invest in the following asset classes: bonds, shares, currencies, cash, near cash and deposits. The Fund will mostly gain exposure to these assets by investing through derivative instruments, but may also invest directly. The Fund may also invest through other collective investment schemes.
In cases where the Investment Manager believes that investment opportunities are limited to a few areas, or where the available investment opportunities would add too much risk to the Fund, the Fund may temporarily hold high levels of cash.
The Fund may take short positions (holding derivative instruments with the aim of delivering a positive return when the assets they are linked to fall in value) in markets, currencies, securities, indices and other groups of securities. The Fund also has the flexibility to gain exposure to investments exceeding the Net Asset Value of the Fund in order to increase potential returns in both rising and falling markets.
Derivative instruments can be used to meet the Fund’s investment objective and for efficient portfolio management. The derivative instruments that the Fund may invest in include spot and forward contracts, exchange traded futures, swaps, credit default swaps, options and total return swaps.
The bonds that the Fund may invest in include the following:
bonds issued or guaranteed by companies, governments, local authorities, government agencies or certain public international bodies, convertible bonds, bonds from issuers located in emerging markets;
Chinese onshore bonds denominated in CNY traded on the China Interbank Bond Market; bonds which are rated above investment grade by a recognised rating agency; and
sub-investment grade bonds and unrated bonds, up to 60% of the Fund’s Net Asset Value.
The Fund may invest up to 10% of its Net Asset value in asset-backed securities and up to 20% of its Net Asset value in contingent convertible debt securities.
The Fund may also invest in other deposits and warrants which may be issued anywhere in the world and denominated in any currency.
Investment Strategy	Investment Approach
The Investment Manager has a very flexible top-down approach to the allocation of capital between different types of assets in response to changes in economic conditions and asset values. This approach combines in-depth research to work out the value of assets over the medium to long term, with analysis of market reactions to events to identify investment opportunities. In particular, the manager seeks to respond when asset prices move away from a reasonable sense of 'fair' long-term value due to market reactions to events.
The blend of assets held in the Fund is regularly adjusted depending on where the Investment Manager sees the most value and to manage risks in order to limit losses. The Investment Manager will seek to manage risk by investing globally across multiple asset classes, sectors, currencies and countries and by combining diversified and relatively uncorrelated assets (which are assets affected by market conditions in different ways). The Investment Manager will also employ derivative instrument strategies to help protect or profit from falling markets.
The Fund will typically take investment positions at index, or sector level, or invest in a basket of assets to exploit certain investment themes (for example shares in companies with exposure to a certain country or region) but it may also take positions in individual shares or bonds.
The Investment Manager believes that this approach has the potential to limit monthly losses to less than 3% in normal to stressed times and less than 6% in highly stressed times. The Investment Manager believes the fund has the potential to deliver an annualised volatility (the degree to which the value of the Fund fluctuates over any 12-month period) of between 3% and 7%.
Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
Benchmark	3-month Euribor + 2-4%
The benchmark is a target which the Fund seeks to achieve. The rate has been chosen as the Fund’s benchmark as it is an achievable performance target based on the Fund’s investment approach. The benchmark is used solely to measure the Fund’s performance objective and does not constrain the Fund's portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which assets to buy, hold and sell in the Fund.
The benchmark is shown in the Share Class currency as set out in the table below.
| Share Class | Performance Comparator |
| --- | --- |
| CHF / CHF Hedged | SARON + 2-4% |
| GBP / GBP Hedged | SONIA + 2-4% |
| USD / USD Hedged | SOFR + 2-4% |

Profile of Typical Investor
Typical investors may be retail, professional or Institutional Investors who can bear the economic risk of the loss of their investment in the Fund and who are willing to accept capital and income risk.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least three years.
Reference Currency	EUR
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR
Leverage	The Fund’s expected level of leverage under normal market conditions is 350% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on an annual basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Derivative instruments
- Exposure greater than net asset value
- Short sales
- Currency & exchange rate
- Liquidity
- Counterparty
- Emerging markets
- China
- Securitised bonds
- Contingent convertible debt securitiesInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.25% | 1.25% | - | - | - | 0.05% | 0.15% |
| B | 1.75% | - | - | - | - | 0.05% | 0.15% |
| C | 0.50% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.50% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.50% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.50% | - | - | - | - | 0.01% | 0.15% |
| X | 1.25% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.

### M&G (Lux) Income Allocation Fund
Launch Date	16 January 2018
Investment Objective	Until 15 February 2023
The Fund aims to generate a growing level of income over any three-year period through investment in a range of global assets. The Fund also aims to provide capital growth of 2-4% p.a. over any three-year period.
From 16 February 2023
The Fund aims to generate a growing level of income over any three-year period through investment in a range of global assets. The Fund also aims to provide capital growth of 2-4% p.a. over any three-year period while applying ESG Criteria.
Investment Policy	Until 15 February 2023
The Fund has a highly flexible investment approach with the freedom to invest in different types of assets issued anywhere in the world and denominated in any currency.
The Fund will typically invest in income-generating assets from the following asset classes: fixed income securities, equities, cash and deposits. The Fund can also invest in currencies, near cash and warrants. The Investment Manager will normally seek to hold more than 70% of the Fund’s Net Asset Value in euro denominated assets or in other currencies hedged back to euro.
The Fund’s exposure to these assets will mostly be gained directly. The Fund may also invest indirectly through other collective investment schemes, and via derivatives. Derivatives can be used to meet the Fund’s investment objective, for hedging purposes and for efficient portfolio management. The Fund may take synthetic short positions (holding derivative instruments with the aim of delivering a positive return when the assets they are linked to fall in value) in markets, currencies, securities, indices and other groups of securities.
The Fund may invest in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect.
The Fund will normally invest within the following net allocation ranges: 40-80% in fixed income, 10-50% in equities and 0-20% in other assets.
Fixed income instruments that the Fund may invest in include the following:
- bonds issued or guaranteed by companies, governments, local authorities, government agencies or certain public international bodies;
- bonds from issuers located in emerging markets;
- Chinese onshore bonds denominated in CNY traded on the China Interbank Bond Market;
- bonds which are rated investment grade by a recognised rating agency;
- unrated bonds and bonds which are rated sub-investment grade, up to 40% ofthe Fund’s Net Asset Value;
- Asset-backed securities, up to 10% of the Fund’s Net Asset Value; and
- derivatives whose value is derived from bonds, interest rates or credit risk. Equity instruments that the Fund may invest in include (a) direct company shares and(b) derivatives whose value is derived from company shares.

Other assets, for this purpose, include convertible bonds and contingent convertible debt securities. The Fund may invest up to 5 % of its Net Asset Value in contingent convertible debt securities.
Derivative instruments can be used to meet the Fund's investment objective, for hedging purposes, and for efficient portfolio management. The derivative instruments that the Fund can invest in to achieve its objectives include, but are not limited to, spot and forward contracts, exchange traded futures, swaps, credit default swaps, options and total return swaps.
From 16 February 2023
The Fund has a highly flexible investment approach with the freedom to invest in different types of assets issued anywhere in the world and denominated in any currency.
The Fund will normally invest within the following net allocation ranges: 40-80% in fixed income, 10-50% in equities and 0-20% in ‘other’ assets.
The Fund will typically invest in income-generating assets from the following asset classes: fixed income securities, equities, cash and deposits. The Fund can also invest in currencies, near cash and warrants. The Investment Manager will normally seek to hold more than 70% of the Fund’s Net Asset Value in euro denominated assets or in other currencies hedged back to euro.
The Fund’s exposure to these assets will mostly be gained directly. The Fund may also invest indirectly through other collective investment schemes, and via derivatives. Derivatives can be used to meet the Fund’s investment objective, for hedging purposes and for efficient portfolio management. The Fund may take synthetic short positions (holding derivative instruments with the aim of delivering a positive return when the assets they are linked to fall in value) in markets, currencies, securities, indices and other groups of securities.
Fixed income instruments that the fund may invest in include the following:
- bonds issued or guaranteed by companies, governments, local authorities, government agencies or certain public international bodies;
- bonds from issuers located in emerging markets;
- Chinese onshore bonds denominated in CNY traded on the China Interbank Bond Market;
- bonds which are rated investment grade by a recognised rating agency;
- unrated bonds and bonds which are rated sub-investment grade, up to 40% ofthe Fund’s Net Asset Value; and
- Asset-backed securities, up to 10% of the Fund’s Net Asset Value.
- derivatives whose value is derived from bonds, interest rates or credit risk; Equity instruments that the Fund may invest in include (a) direct company shares and(b) derivatives whose value is derived from company shares. The Fund may invest in China A Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Exchange.

Other assets, for this purpose, include other transferable securities that do not constitute fixed income or equity instruments, convertible bonds and contingent convertible debt securities. The Fund may invest up to 5 % of its Net Asset Value in contingent convertible debt securities.
The Fund seeks to make investments that meet the ESG Criteria, applying an Exclusionary Approach as described in the precontractual annex to this Fund Supplement.
Derivatives instruments can be used to meet the Fund’s investment objective, for hedging purposes, and for efficient portfolio management. The derivative instruments that the Fund can invest in to achieve its objectives include, but are not limited to, spot and forward contracts, exchange traded futures, swaps, credit default swaps, options, and total return swaps.
Investment Strategy	Investment Approach
Until 15 February 2023
The Investment Manager has a very flexible top-down approach to the allocation of capital between different types of assets in response to changes in economic conditions and asset values. This approach combines in-depth research to work out the value of assets over the medium to long term, with analysis of market reactions to events, to identify investment opportunities. In particular, the manager seeks to respond when asset prices move away from a reasonable sense of 'fair' long-term value due to market reactions to events.
The Fund seeks to manage risk by investing globally across multiple asset classes, sectors, currencies and countries. Where the Investment Manager believes opportunities are limited to a few areas, the portfolio may be very concentrated in certain assets or markets. The Fund will typically take investment positions in individual shares or bonds, but it may also take positions at an index or sector level.
The Fund aims to generate a growing level of income by investing in assets that offer a regular income such as dividend-paying company shares, corporate bonds and government bonds.
The Investment Manager believes that this approach has the potential to deliver an annualised volatility (the degree to which the value of the Fund fluctuates over any 12- month period) of between 4% and 8%, and an estimated gross annual yield of 4%, based on the gross income, before withholding tax, expected to be received from the underlying investments in the Fund, as a percentage of the current Fund share price.
From 16 February 2023
The Investment Manager has a very flexible top-down approach to the allocation of capital between different types of assets in response to changes in economic conditions and asset values. This approach combines in-depth research to work out the value of assets over the medium to long term, with analysis of market reactions to events to identify investment opportunities. In particular, the manager seeks to respond when asset prices move away from a reasonable sense of 'fair' long-term value due to market reactions to events.
The Fund seeks to manage risk by investing globally across multiple asset classes, sectors, currencies and countries. Where the Investment Manager believes opportunities are limited to a few areas, the portfolio may be very concentrated in certain assets or markets. The Fund will typically take investment positions in individual shares or bonds, but it may also take positions at an index or sector level.
The Fund aims to generate a growing level of income by investing in assets that offer a regular income such as dividend-paying company shares, corporate bonds and government bonds.
The Investment Manager believes that this approach has the potential to deliver an annualised volatility (the degree to which the value of the Fund fluctuates over any 12- month period) of between 4% and 8%, and an estimated gross annual yield of 4%, based
on the gross income, before withholding tax, expected to be received from the underlying investments in the Fund, as a percentage of the current Fund share price.
Until 15 February 2023 Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
From 16 February 2023
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / ESG Enhanced.
EU Sustainable Finance Disclosure Regulation
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
Until 15 February 2023 SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for
environmentally sustainable economic activities.
From 16 February 2023
The Fund is categorised as an Article 8 fund under SFDR and promotes environmental and/or social characteristics as described in the precontractual annex to this Fund Supplement.
Benchmark	The Fund is actively managed and it has no benchmark.
Investors can assess the performance of the Fund by its objective to provide a total return of 2-4% per annum over any three-year period.
Profile of Typical Investor   Until 15 February 2023
Typical investors may be retail, professional or Institutional Investors who are looking for income and capital growth but can bear the economic risk of the loss of their investment in the Fund.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least three years.
From 16 February 2023
Typical investors may be retail, professional or Institutional Investors who are looking for income and capital growth but can bear the economic risk of the loss of their investment in the Fund and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least three years.
Reference Currency	EUR
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR
Leverage	The Fund’s expected level of leverage under normal market conditions is 100% of the Fund’s Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a monthly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Interest rate
- Currency & exchange rate
- Emerging markets
- China
- Securitised bonds
- Contingent convertible debt securities
- Derivative instruments
- Short sales
- Liquidity
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.50% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.00% | - | - | - | - | 0.05% | 0.15% |
| C | 0.65% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.65% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.65% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.65% | - | - | - | - | 0.01% | 0.15% |
| X | 1.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Income Allocation Fund
Legal Entity Identifier: 
5493009TGYUIY117XO13
Environmental and/or social characteristics
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective:
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective:
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20% of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What environmental and/or social characteristics are promoted by this financial product?
The Fund promotes the use of an Exclusionary Approach (as defined below):
The Fund excludes certain potential investments from its investment universe to mitigate potential negative effects on the environment and society. For securitised investments such as asset-backed securities (ABS), this also includes assessing them against the Investment Manager’s proprietary scoring methodology (“Exclusionary Approach”). Accordingly, the Investment Manager is promoting environmental and/or social characteristics by excluding certain investments that are considered to be detrimental to ESG Factors.
Sustainability indicators measure how the sustainable objective of this financial product are attained.
No reference benchmark has been designated for the purpose of attaining the Fund’s promoted environmental and/or social characteristics.

######  What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators selected to demonstrate the attainment of the promoted environmental and/or social characteristics are:
- Exclusionary approach: Percentage (%) of NAV held in excluded investments
- Exclusionary approach: Percentage (%) of ABS below the Investment Manager’s threshold for alignment


######  What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
The Fund may allocate to sustainable investments of any type, i.e. investments with an environmental, and/or a social objective. The Fund is not required to favour any specific type of sustainable investment.
The Investment Manager uses a series of proprietary tests based on available data to determine whether and how an investment makes positive contribution(s) towards environmental and social objectives.
Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.

######  How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas)
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investmentHow have the indicators for adverse impacts on sustainability factors been taken into account?

The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund.
Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.
The EU Taxonomy sets out a "do not significant harm" principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The "do no significant harm" principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
Consideration of ESG Factors is fully integrated into analysis and investment decisions.
In order to identify investments for purchase, the Investment Manager reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- From this narrowed investment universe, the Investment Manager allocates capital between different types of assets in accordance with the process explained above. Within each asset class the Investment Manager performs further analysis, including consideration of ESG Factors, to identify and take advantage of investment opportunities.

The Fund’s ESG Criteria apply to at least:
- 90% of equities issued by large capitalisation companies in developed countries; debt securities, money market instruments with an investment grade credit rating; and sovereign debt issued by developed countries;
- 75% of equities issued by large capitalisation companies in emerging market countries; equities issued by small and mid-capitalisation companies in any country; debt securities and money market instruments with a high yield credit rating; and sovereign debt issued by emerging market countries.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The amount of the Fund aligned to the promoted environmental and/or social characteristics, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?".

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.

######  What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
0%
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates a data driven quantitative good governance test used to consider investments into companies. M&G excludes investments in securities that are considered as failing the Investment Manager’s good governance test. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be aligned to the promoted E/S characteristics. At least 20% of the Fund will be in Sustainable Investments.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Aligned with E/S Characteristics
#2 Other
#1A Sustainable
#1B Other E/S Characteristics
Other Environmental
Social
#1 Aligned with E/S characteristics includes the investments of the financial product used to attain the environmental or social characteristics promoted by the financial product.
#2 Other includes the remaining investments of the financial product which are neither aligned with the environmental or social characteristics, nor are qualified as sustainable investments.
The category #1 Aligned with E/S characteristics covers:
- The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives.
- The sub-category #1B Other E/S characteristics covers investments aligned with the environmental or social characteristics that do not qualify as sustainable investments.


######  How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Derivatives may be considered aligned with the promoted environmental and/or social characteristics on the following basis:
Exclusions:
- Where a derivative represents exposure to a single name it must be a permitted investment for the Fund.
- Where a derivative represents exposure to a diversified financial index, it must deliver an evidencable alignment to the promoted characteristics.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
0%
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
5%

###### What is the minimum share of socially sustainable investments?
5%

###### What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, FX, interest rate derivatives and similar derivatives (which may include certain technical trades such as government bond futures used for duration trades) as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied.
Derivatives used to take investment exposure to diversified financial indices (excluding technical trades), and funds (i.e. UCITS and other UCIs) may be held for any reason permitted by the Fund’s investment policy and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
The Fund may also hold as Other investments those investments where insufficient data exists to determine the investments’ alignment with the promoted characteristics.
It is also possible that the Fund may hold investments that are not in line with the promoted characteristics,
e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Sustainable Allocation Fund
Launch Date	29 November 2018
Investment Objective	The Fund has two aims:
- Financial objective: to provide a total return (capital growth plus income) of 4 to 8% per year over any five-year period.
- Sustainable objective: to contribute to a sustainable economy by investing in assets supporting environmental and/or social goals, in particular climate change mitigation.

Investment Policy	The Fund invests in a diversified range of asset classes, such as equities, equity-related securities, debt securities, cash and near cash. These investments may be from anywhere in the world, including emerging markets, and denominated in any currency.
Typically, the Fund holds 20-60% of its Net Asset Value in equities and equity-related securities, 20- 80% in debt securities, and 0-20% in other assets.
The Fund’s investments may include:
- up to 40% of its Net Asset Value in sub-investment grade and unrated debt securities. There are no credit quality restrictions with respect to the debt securities in which the Fund may invest.
- up to 10% of its Net Asset Value in asset-backed securities;
- up to 5% of its Net Asset Value in contingent convertible debt securities;
- China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect;
- Chinese onshore debt securities denominated in CNY traded on the China Interbank Bond Market.

The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive Outcome, in addition to its sustainable investment strategy used in pursuit of the sustainable investment objective, as described in the precontractual annex to this Fund Supplement.
The Fund typically invests 20-50% of its Net Asset Value in positive impact assets with a minimum of 20% and no maximum exposure.
The Fund may also invest indirectly via other collective investment schemes (including funds managed by M&G) and derivatives.
The Fund normally seeks to hold more than 70% of its Net Asset Value in Euro denominated assets or in other currencies hedged back to Euro.
The Fund may use derivatives for investment purposes, efficient portfolio management and hedging. These instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, credit default swaps, interest rate swaps and total return swaps.
Investment Strategy	Investment Approach
The Fund’s approach to sustainable investment is explained in the precontractual annex to this Fund Supplement.
The Fund seeks to manage risk through flexible asset allocation, by investing globally in multiple asset classes, and across different sectors, currencies and countries, in response to changes in economic conditions and asset values. This approach combines research to work out the
anticipated value of assets over the medium to long term, with analysis of market reactions to events, to identify investment opportunities.
The Fund’s annualised volatility is expected to be between 4% and 9%, over any five-year period.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / Sustainable.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 9 fund under SFDR, and information about its sustainable investment is described in the precontractual annex to this Fund Supplement.
Benchmark	The Fund is actively managed and it has no benchmark.
Investors can assess the performance of the Fund by its objective to provide a total return of 4-8% per annum over any five-year period.
Profile of Typical Investor
The Fund may be suitable for retail and Institutional Investors who are looking for total return (capital growth plus income) from a diversified multi asset portfolio, which deploys capital in a sustainable manner by investing in impact assets and companies and governments which uphold high standards of ESG behaviour and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objectives. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	EUR
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund.
Calculation of Global Exposure
Absolute VaR
Leverage	The Fund’s expected level of leverage under normal market conditions is 100% of the Fund’s Net
Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Interest rate
- Liquidity
- Counterparty
- Emerging markets
- China
- Securitised bonds
- Contingent convertible debt securities
- Derivative instruments
- Short sales
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.50% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.00% | - | - | - | - | 0.05% | 0.15% |
| C | 0.60% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.60% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.60% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.60% | - | - | - | - | 0.01% | 0.15% |
| L | 0.35% | 1.25% | - | - | - | 0.05% | 0.15% |
| LI | 0.35% | - | - | - | - | 0.01% | 0.15% |
| X | 1.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 9, paragraphs 1 to 4a, of Regulation (EU) 2019/2088 and Article 5, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Sustainable Allocation Fund
Legal Entity Identifier: 
549300G7EE7U31UKHL78
Sustainable investment objective
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective: 30%
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective: 20%
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What is the sustainable investment objective of this financial product?
Sustainability indicators measure how the sustainable objective of this financial product are attained.
To contribute to a sustainable economy by investing in assets supporting environmental and/or social goals, in particular climate change mitigation.

######  What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product?
Fund level sustainability indicators
The Investment Manager will report and monitor the below indicators that will apply to investments in aggregate.
- Climate change mitigation and environmental solutions:
- Change in CO2 emissions intensity over the previous three year period (compounded annualised growth rate over last three years) (corporate and sovereigns).
- Percentage (%) of sovereigns party to the Paris Agreement (sovereigns).
- Weighted average carbon intensity (corporate).
- Percentage (%) of corporate issuers with ratified Science-Based Targets under the Science Based Target Initiative (SBTi) or an equivalent as assessed by the Investment Manager (corporate).
- Percentage (%) of corporate issuers participating in the Carbon Disclosure Project (CDP) (corporate).
- Tonnes of CO2 emissions avoided by positive impact investments (corporate and sovereigns).
- Social
- Percentage (%) of sovereign ranked above the Social Progress Index (SPI) Global Average, which assesses how well a society provides its people with material needs, and does not have a negative 5 year trend(sovereigns)
- Number of underserved people reached including patients treated, customers served etc. by positive impact investments (corporate and sovereigns)
- For positive impact assets:
- Percentage (%) of NAV invested in positive impact assets in the FundSecurity level sustainability indicatorsAt least one of the following indicators will be apply for each sustainable investment made by the Fund. The Investment Manager is not required to consider, or report on, all of the below sustainability indicators as part ofthe analysis for each sustainable investment.
- Corporate issues
	- Climate change mitigation:

- Whether the corporate has ratified Science-Based Targets under the Science Based Target Initiative (SBTi) or an equivalent as assessed by the Investment Manager
- The Issuer is assessed as having a current temperature alignment of less than or equal to 1.5°C to evidence alignment with current scientific methodologies to address climate change
- Whether the issuer is participating in the Carbon Disclosure Project (CDP)
- The issue has been assessed as having more than 20% of revenues derived from any of the climate change environment impact themes including alternative energy, energy efficiency or green building
- Other environmental
- The issuer’s ESG Environment Pillar Score is at least 7.1, as determined by MSCI
- Percentage (%) of issuer revenues assessed as relating to environmental themes in excess of 20%
- The issue is a green environmental bond as verified by alignment to Climate Bonds Initiative (CBI), International Capital Market Association (ICMA) or another appropriate standard as accepted by the Investment Manager
- The issuer is a renewable energy producer
- Social
- The issuer’s ESG Social Pillar Score is at least 7.1 (leader), as determined by MSCI
- The issuer is a signatory to the UNGC Global Compact
- The issuer’s board diversity is in excess of 33%
- Percentage (%) of issuer revenues assessed as relating to social themes in excess of 20%
- Number of underserved people reached including patients treated, customers served etc.
- United Nations Sustainable Development Goals (“SDGs”) alignment:
- The Investment Manager may assess whether an investment is aligned with one or more of the 17 SDGs, using appropriate metrics to determine the strength of that alignment.
- Sovereign issues
	- Climate change mitigation and environmental solutions:

- The sovereign’s Climate Change Performance Index (CCPI) score is not “Very Low”
- The sovereign is a party to the Paris Agreement and the UN Convention on Biological Diversity
- Other environmental
- The sovereign’s ESG Environment Pillar Score being at least 7.1 (leader), as determined by MSCI
- The issue is a green environmental bond as verified by alignment to CBI, ICMA or another appropriate standard as accepted by the Investment Manager
- Social
- The issuer’s ESG Social Pillar Score being at least 7.1 (leader), as determined by MSCI
- The issue is a social bond as verified by alignment to ICMA or another appropriate standard as accepted by the Investment Manager
- The sovereign is ranked above the Social Progress Index (SPI) Global Average, which assesses how well a society provides its people with material needs, and does not have a negative 5 year trend
- The sovereign has fully ratified all of the 8 International Labour Organisation (ILO) human rights conventionsPrincipal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.


######  How do sustainable investments not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful.
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas).
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investment.

How have the indicators for adverse impacts on sustainability factors been taken into account?
The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund. Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
The Fund investment approach is through flexible asset allocation, implemented by investing in securities of companies or governments that uphold high standards of ESG behaviour. The Fund also maintains a core holding of investments considered to have a positive impact through addressing the world major social and environmental challenges (“Positive Impact Assets”). The Fund typically invests 20-50% of its Net Asset Value in Positive Impact Assets with a minimum of 20% and no maximum exposure.
Positive Impact Assets are assessed using the Investment Manager’s impact assessment methodology (“Impact Methodology”) described below.
The Impact Methodology focuses on three criteria:
- Investment Credentials: the quality and durability of the company’s business model and its ability to produce sustainable economic returns;
- Intention: the company’s purpose as evidenced by the alignment of its mission statement with its corporate strategy and actions; and
- Impact: the scale of the net positive societal impact and the company’s progress in addressing social equality challenges.

The outputs of the Impact Methodology enable the Fund to allocate to the following three investment types:
- “Pioneers”, whose products or services have or could have a transformational effect on social equality.
- “Enablers”, which provide the tools for others to empower social equality.
- “Leaders”, which spearhead and mainstream sustainability in industries empowering social equality, but which may have more established profitability than pioneers.

The Investment Manager’s engagement with the companies in which the Fund invests is key to the investment approach.
The Fund typically has a lower weighted average carbon intensity than the global equity market (“Positive ESG Outcome”).
Sustainability considerations, encompassing ESG factors, are fully integrated into analysis and investment decisions, and play an important role in determining the investment universe and portfolio construction.
In order to identify securities for purchase, the Investment Manager initially reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then assesses the sustainability credentials of the remaining companies:
	- a) Under the ESG Criteria of the portfolio, the Investment Manager assesses and scores the ESG credentials of the remaining securities on the basis of external ESG ratings and the Investment Manager’s assessment. Lower scoring securities which are considered as ESG laggards are excluded and the Investment Manager favours issuers with better ESG characteristics.
	- b) Positive Impact Assets are assessed using the Impact Methodology.

- From the narrowed investment universe, the Investment Manager allocates capital between different types of assets in accordance with the process explained above. Within each asset class the Investment Manager then performs further analysis to consider the valuation of these investments and the appropriate time to purchase in consideration of the Fund’s financial objective.
- The Investment Manager favours issuers with lower carbon intensity where this is not detrimental to the pursuit of the investment objective. This process typically results in a portfolio with lower carbon intensity than the global equity market. In constructing a portfolio which favours investments with lower carbon intensity, the Investment Manager may nonetheless invest in investments across the full spectrum of carbon intensity. The Fund’s calculation methodology does not include those securities that do not have carbon intensity data respectively, or cash, near cash, some derivatives and some collective investment schemes.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain the sustainable investment objective?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s asset allocation, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?". Please note that the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy is non-binding where the reason for holding less than such minimum is because Taxonomy-aligned investments are held instead (as all such investments are sustainable investments with environmental objectives).

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates data driven quantitative good governance tests used to consider investments into companies. The Investment Manager excludes investments in securities that are considered as failing the Investment Manager’s good governance tests. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation and the minimum share of sustainable investments?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be invested in sustainable investments, in pursuit of the sustainable investment objective. The Fund is not required to favour any specific type of sustainable investment, and may invest in assets supporting any environmental and/or social goal, but will pay particular heed to climate change mitigation by using extra sustainability indicators for climate change mitigation, measuring performance on these characteristics at fund level, i.e. even where an investment has been purchased in pursuit of a social objective.
The Fund will invest at least 20% in sustainable investments with a social objective and at least 30% in sustainable investments with an environmental objective that are not aligned to the EU Taxonomy. Subject to those minima, the Fund may flexibly allocate between the different types of sustainable investments based on availability and attractiveness of investment opportunities, whilst keeping the aggregate allocation to sustainable investments with environmental and/or social objectives to a minimum of 70%.
The Fund typically invests 20-50% of its Net Asset Value in positive impact assets with a minimum of 20% and no maximum exposure.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Sustainable
#2 Not sustainable
Environmental
Social
Taxonomy-aligned
Other
#1 Sustainable covers sustainable investments with environmental or social objectives.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Not sustainable includes investments which do not qualify as sustainable investments.

######  How does the use of derivatives attain the sustainable investment objective?
Derivatives are only considered to contribute to the sustainable investment objective where such contribution can be evidenced:
- Where a derivative represents exposure to a single name, it must be a sustainable investment that contributes to the Fund’s sustainable investment objective.
- Where a derivative represents exposure to a diversified financial index, the index's contribution to the sustainable investment objective must be evidenced. For example, the index rules may cause it to operate to deliver certain characteristics that are considered to positively contribute to the sustainable investment objective.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
30%

###### What is the minimum share of sustainable investments with a social objective?
20%

###### What investments are included under “#2 Not sustainable”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, FX, interest rate derivatives and similar derivatives (which may include certain technical trades such as government bond futures used for duration trades) as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied.
Derivatives used to take investment exposure to diversified financial indices (excluding technical trades), and funds (i.e. UCITS and other UCIs) may be held for hedging purposes or in connection with cash held for ancillary liquidity and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
It is also possible that the Fund may hold investments that are not in line with the sustainable investment objective, e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to meet the sustainable investment objective?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

### M&G (Lux) Sustainable Multi Asset Growth Fund
Launch Date	7 December 2021
Investment Objective	The Fund has two aims:
- Financial objective: to limit the average volatility to 20% per annum over any five year period while providing a total return (capital growth plus income); and
- Sustainable objective: to contribute to a sustainable economy by investing in assets supporting environmental and/or social goals, in particular climate change mitigation.

Investment Policy	The Fund has the flexibility to invest in a wide range of asset classes, such as equities, equity- related securities, debt securities, cash and near cash. These investments may be from anywhere in the world, including emerging markets, and denominated in any currency.
Typically, the Fund holds 55-100% of its Net Asset Value in equities and equity-related securities, but there is no obligation on the Investment Manager to hold a particular level of equity exposure.
The Fund’s investments may include:
- up to 40% of its Net Asset Value in sub-investment grade and unrated debt securities. There are no credit quality restrictions with respect to the debt securities in which the Fund may invest.
- up to 10% of its Net Asset Value in asset-backed securities;
- up to 5% of its Net Asset Value in contingent convertible debt securities;
- China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect;
- Chinese onshore debt securities denominated in CNY traded on the China Interbank Bond Market.

The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach and Positive Outcome, in addition to its sustainable investment strategy used in pursuit of the sustainable investment objective, as described in the precontractual annex to this Fund Supplement.
The Fund typically invests 20-50% of its Net Asset Value in positive impact assets with a minimum of 20% and no maximum exposure.
The Fund may also invest indirectly via funds (i.e. UCITS and other UCIs including funds managed by M&G), and may invest in other transferable securities such as short dated bonds and money market instruments for liquidity management, cash, and near cash.
The Fund normally seeks to hold at least 70% of its Net Asset Value in Euro denominated assets or in other currencies hedged back to Euro.
The Fund may use derivatives for investment purposes, efficient portfolio management and hedging. These instruments may include, but are not limited to, spot and forward contracts, exchange traded futures, swaps, credit default swaps, options and [total return swaps].
Investment Strategy	The Fund’s approach to sustainable investment is explained in the precontractual annex to this Fund Supplement.
Volatility is managed by using research to estimate the variation in value and risk of different types of assets. The Fund seeks to manage volatility and risk through flexible asset allocation, by investing globally in multiple asset classes, and across different sectors, currencies and countries, in response to changes in economic conditions and asset values.
This approach combines research to work out the anticipated value of assets over the medium to long term, with analysis of market reactions to events to identify investment opportunities. The Fund’s volatility management objective may limit potential gains as well as losses.
Investment Manager’s ESG Classification
The Fund is categorised as Planet+ / Sustainable
.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
The Fund is categorised as an Article 9 fund under SFDR, and information about its sustainable investment is described in the precontractual annex to this Fund Supplement.
Benchmark	Morningstar Euro Aggressive Allocation - Global
The benchmark is a comparator against which the Fund’s financial performance can be measured. It has been chosen as the Fund's benchmark as it reflects the financial aspects of the Fund’s investment policy. The comparator benchmark does not constrain the Fund's portfolio construction.
The Fund is actively managed. The Investment Manager has complete freedom in choosing which investments to buy, hold and sell in the Fund within the constraints set by the Fund’s objective and investment policy.
The benchmark is shown in the share class currency.
Profile of Typical Investor  The Fund may be suitable for retail and Institutional Investors who are looking for total return (capital growth plus income) from a diversified multi asset portfolio with a risk profile consistent with 55% to 100% exposure to equities, which deploys capital in a sustainable manner by investing in impact assets and companies and governments which uphold high standards of ESG behaviour and who want a fund that applies ESG Factors and considers Principal Adverse Impacts when investing.
There is no guarantee that the Fund will achieve its objective. Suitable investors should appreciate that their capital will be at risk and that the value of their investment and any derived income may fall as well as rise.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund. Additionally, the Fund’s volatility management objective may limit potential gains as well as losses.
This Fund may be suitable for investors who have an investment time horizon of at least five years.
Reference Currency	EUR
Currency Hedged Share Classes
Currency Hedged Share Classes on this Fund seek to reduce the effect of exchange rate fluctuations between the currency of the Currency Hedged Share Classes and the Reference Currency of the Fund
Calculation of Global Exposure
Absolute VaR
Leverage	The Fund’s expected level of leverage under normal market conditions is 100% of the Fund’s
Net Asset Value when calculated in accordance with the sum of notionals approach.
The level of leverage could sometimes be higher under certain circumstances including but not limited to changes in the reference market conditions and the investment strategy.
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay dividends on a quarterly basis.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Credit
- Interest rate
- Liquidity
- Counterparty
- Currency & exchange rate
- Emerging markets
- China
- Securitised bonds
- Contingent convertible debt securities
- Derivative instruments
- Short sales
- ESG dataInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Annual Management Charge (annual rate) | Initial Charge | Redemption Charge | Distribution Charge | CDSC | Local Tax Taxe d’abonnement (annual rate) | Administration Charge (maximum annual rate) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1.50% | 4.00% | - | - | - | 0.05% | 0.15% |
| B | 2.00% | - | - | - | - | 0.05% | 0.15% |
| C | 0.60% | 1.25% | - | - | - | 0.05% | 0.15% |
| CI | 0.60% | 1.25% | - | - | - | 0.01% | 0.15% |
| J | Up to 0.60% | 1.25% | - | - | - | 0.05% | 0.15% |
| JI | Up to 0.60% | - | - | - | - | 0.01% | 0.15% |
| L | 0.35% | 1.25% | - | - | - | 0.05% | 0.15% |
| LI | 0.35% | - | - | - | - | 0.01% | 0.15% |
| X | 1.50% | - | - | 1.00% | See CDSC Schedule below | 0.05% | 0.15% |
| Z | - | 1.25% | - | - | - | 0.05% | 0.15% |
| ZI | - | - | - | - | - | 0.01% | 0.15% |

Investors should read the section "Important Information" which may refer to an alternative minimum subscription requirement for investors from a particular country. The Directors may reduce or waive the Minimum Subscription amount and the Minimum Subsequent Subscription amount in their sole discretion.
Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Investors in Currency Hedged Share Classes should note that a Share Class Hedging Charge of 0.01%-0.055% will apply.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
CDSC Schedule
Shareholders who redeem from Class X Shares within three years of the original subscription date will be subject to a CDSC deducted from the redemption proceeds as follows:
| Year | 1 | 2 | 3 | Thereafter |
| --- | --- | --- | --- | --- |
| CDSC | 3.00% | 2.00% | 1.00% | 0.00% |

Investors should refer to the section "Fees and Expenses" of the Prospectus for further information on the CDSC.
Precontractual disclosure for the financial products referred to in Article 9, paragraphs 1 to 4a, of Regulation (EU) 2019/2088 and Article 5, first paragraph, of Regulation (EU) 2020/852
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Product Name: 
M&G (Lux) Investment Funds 1 - M&G (Lux) Sustainable Multi-Asset Growth Fund
Legal Entity Identifier: 
254900DTG2UFJ7LAT088
Sustainable investment objective
The EU Taxonomy is a classification system laid down in Regulation (EU) 2020/852, establishing a list of environmentally sustainable economic activities. That Regulation does not lay down a list of socially sustainable economic activities. Sustainable investments with an environmental objective might be aligned with the Taxonomy or not.
It will make a minimum of sustainable investments with an environmental objective: 30%
in economic activities that qualify as environmentally sustainable under the EU Taxonomy
in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
It will make a minimum of sustainable investments with a social objective: 20%
It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of % of sustainable investments
with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy
with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
with a social objective
It promotes E/S characteristics, but will not make any sustainable investments

###### What is the sustainable investment objective of this financial product?
Sustainability indicators measure how the sustainable objective of this financial product are attained.
To contribute to a sustainable economy by investing in assets supporting environmental and/or social goals, in particular climate change mitigation.

######  What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product?
Fund level sustainability indicators
The Investment Manager will report and monitor the below indicators that will apply to investments in aggregate.
- Climate change mitigation and environmental solutions:
- Change in CO2 emissions intensity over the previous three year period (compounded annualised growth rate over last three years) (corporate and sovereigns).
- Percentage (%) of sovereigns party to the Paris Agreement (sovereigns).
- Weighted average carbon intensity (corporate).
- Percentage (%) of corporate issuers with ratified Science-Based Targets under the Science Based Target Initiative (SBTi) or an equivalent as assessed by the Investment Manager (corporate).
- Percentage (%) of corporate issuers participating in the Carbon Disclosure Project (CDP) (corporate).
- Tonnes of CO2 emissions avoided by positive impact investments (corporate and sovereigns).
- Social
- Percentage (%) of sovereign ranked above the Social Progress Index (SPI) Global Average, which assesses how well a society provides its people with material needs, and does not have a negative 5 year trend(sovereigns)
- Number of underserved people reached including patients treated, customers served etc. by positive impact investments (corporate and sovereigns)
- For positive impact assets:
- Percentage (%) of NAV invested in positive impact assets in the FundSecurity level sustainability indicatorsAt least one of the following indicators will be apply for each sustainable investment made by the Fund. The Investment Manager is not required to consider, or report on, all of the below sustainability indicators as part of the analysis for each sustainable investment.
- Corporate issues
	- Climate change mitigation:

- Whether the corporate has ratified Science-Based Targets under the Science Based Target Initiative (SBTi) or an equivalent as assessed by the Investment Manager
- The Issuer is assessed as having a current temperature alignment of less than or equal to 1.5°C to evidence alignment with current scientific methodologies to address climate change
- Whether the issuer is participating in the Carbon Disclosure Project (CDP)
- The issue has been assessed as having more than 20% of revenues derived from any of the climate change environment impact themes including alternative energy, energy efficiency or green building
- Other environmental
- The issuer’s ESG Environment Pillar Score is at least 7.1, as determined by MSCI
- Percentage (%) of issuer revenues assessed as relating to environmental themes in excess of 20%
- The issue is a green environmental bond as verified by alignment to Climate Bonds Initiative (CBI), International Capital Market Association (ICMA) or another appropriate standard as accepted by the Investment Manager
- The issuer is a renewable energy producer
- Social
- The issuer’s ESG Social Pillar Score is at least 7.1 (leader), as determined by MSCI
- The issuer is a signatory to the UNGC Global Compact
- The issuer’s board diversity is in excess of 33%
- Percentage (%) of issuer revenues assessed as relating to social themes in excess of 20%
- Number of underserved people reached including patients treated, customers served etc.
- United Nations Sustainable Development Goals (“SDGs”) alignment:
- The Investment Manager may assess whether an investment is aligned with one or more of the 17 SDGs, using appropriate metrics to determine the strength of that alignment.
- Sovereign issues
	- Climate change mitigation and environmental solutions:

- The sovereign’s Climate Change Performance Index (CCPI) score is not “Very Low”
- The sovereign is a party to the Paris Agreement and the UN Convention on Biological Diversity
- Other environmental
- The sovereign’s ESG Environment Pillar Score being at least 7.1 (leader), as determined by MSCI
- The issue is a green environmental bond as verified by alignment to CBI, ICMA or another appropriate standard as accepted by the Investment Manager
- Social
- The issuer’s ESG Social Pillar Score being at least 7.1 (leader), as determined by MSCI
- The issue is a social bond as verified by alignment to ICMA or another appropriate standard as accepted by the Investment Manager
- The sovereign is ranked above the Social Progress Index (SPI) Global Average, which assesses how well a society provides its people with material needs, and does not have a negative 5 year trend
- The sovereign has fully ratified all of the 8 International Labour Organisation (ILO) human rights conventionsPrincipal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anticorruption and antibribery matters.


######  How do sustainable investments not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments that the Fund intends to make do not cause significant harm to any environmental or social sustainable investment objective as they are required to pass a series of tests, including:
- Whether they represent significant exposure to businesses the Investment Manager considers harmful.
- Principal Adverse Impact indicators considered to render the investment incompatible with sustainable investment (violations of the UN Global Compact Principles or the OECD Guidelines for Multinational Enterprises, social violations by sovereigns such as being subject to sanctions, negative effects on biodiversity sensitive areas).
- Other Principal Adverse Impact indicators form part of a materiality assessment to understand whether any exposures are compatible with sustainable investment.

How have the indicators for adverse impacts on sustainability factors been taken into account?
The Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available (i.e. not just for sustainable investments), which allows the Investment Manager to make informed investment decisions.
The Fund’s consideration of Principal Adverse Impact indicators is used as part of understanding the operating practices of the investments purchased by the Fund. Investments held by the Fund are then subject to ongoing monitoring and a quarterly review process.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
All investments purchased by the Fund must pass the Investment Manager’s good governance tests, and in addition, sustainable investments must also pass tests to confirm they do no significant harm, as described above. These tests embed a consideration of the OECD Guidelines and UN Guiding Principles.

###### Does this financial product consider principal adverse impacts on sustainability factors?
Yes, for sustainable investments, principal adverse impacts are a key part of assessing such investments do not do significant harm as explained above. For other investments the Investment Manager’s research process includes consideration of Principal Adverse Impact indicators for all investments where data is available, which allows the Investment Manager to make informed investment decisions, as explained above.
Further information on the Principal Adverse Impact indicators which are taken into account by the Investment Manager can be found in the Annex to the Investment Manager's website disclosures for the Fund. Information on how the principal adverse impacts were taken into account will be provided in the Fund’s annual report.
No

###### What investment strategy does this financial product follow?
The Fund investment approach is through flexible asset allocation, implemented by investing in securities of companies or governments that uphold high standards of ESG behaviour. The Fund also maintains a core holding of investments considered to have a positive impact through addressing the world major social and environmental challenges (“Positive Impact Assets”). The Fund typically invests 20-50% of its Net Asset Value in Positive Impact Assets with a minimum of 20% and no maximum exposure.
Positive Impact Assets are assessed using the Investment Manager’s impact assessment methodology (“Impact Methodology”) described below.
The Impact Methodology focuses on three criteria:
- Investment Credentials: the quality and durability of the company’s business model and its ability to produce sustainable economic returns;
- Intention: the company’s purpose as evidenced by the alignment of its mission statement with its corporate strategy and actions; and
- Impact: the scale of the net positive societal impact and the company’s progress in addressing social equality challenges.

The outputs of the Impact Methodology enable the Fund to allocate to the following three investment types:
- “Pioneers”, whose products or services have or could have a transformational effect on social equality.
- “Enablers”, which provide the tools for others to empower social equality.
- “Leaders”, which spearhead and mainstream sustainability in industries empowering social equality, but which may have more established profitability than pioneers.

The Investment Manager’s engagement with the companies in which the Fund invests is key to the investment approach.
The Fund typically has a lower weighted average carbon intensity than the global equity market (“Positive ESG Outcome”).
Sustainability considerations, encompassing ESG factors, are fully integrated into analysis and investment decisions, and play an important role in determining the investment universe and portfolio construction.
In order to identify securities for purchase, the Investment Manager initially reduces the potential investment universe as follows:
- The exclusions listed in the ESG Criteria are screened out.
- The Investment Manager then assesses the sustainability credentials of the remaining companies:
	- a) Under the ESG Criteria of the portfolio, the Investment Manager assesses and scores the ESG credentials of the remaining securities on the basis of external ESG ratings and the Investment Manager’s assessment. Lower scoring securities which are considered as ESG laggards are excluded and the Investment Manager favours issuers with better ESG characteristics.
	- b) Positive Impact Assets are assessed using the Impact Methodology.

- From the narrowed investment universe, the Investment Manager allocates capital between different types of assets in accordance with the process explained above. Within each asset class the Investment Manager then performs further analysis to consider the valuation of these investments and the appropriate time to purchase in consideration of the Fund’s financial objective.
- The Investment Manager favours issuers with lower carbon intensity where this is not detrimental to the pursuit of the investment objective. This process typically results in a portfolio with lower carbon intensity than the global equity market. In constructing a portfolio which favours investments with lower carbon intensity, the Investment Manager may nonetheless invest in investments across the full spectrum of carbon intensity. The Fund’s calculation methodology does not include those securities that do not have carbon intensity data respectively, or cash, near cash, some derivatives and some collective investment schemes.

The investment strategy guides investment decisions based on factors such as investment objectives and risk tolerance.

######  What are the binding elements of the investment strategy used to select the investments to attain the sustainable investment objective?
The following elements are binding, as part of the Investment Manager's strategy for this Fund:
- The Fund’s exclusions;
- The Fund’s asset allocation, as set out in the section "What is the asset allocation planned for this financial product?"; and
- Minimum levels of sustainable investments, as set out in the section "What is the asset allocation planned for this financial product?". Please note that the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy is non-binding where the reason for holding less than such minimum is because Taxonomy-aligned investments are held instead (as all such investments are sustainable investments with environmental objectives).

Where it is in the best interests of investors, the Fund may temporarily deviate from one or more of these elements, for example if the Investment Manager considers it prudent to hold high levels of cash in response to market conditions.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.

######  What is the policy to assess good governance practices of the investee companies?
The Investment Manager operates data driven quantitative good governance tests used to consider investments into companies. The Investment Manager excludes investments in securities that are considered as failing the Investment Manager’s good governance tests. When assessing good governance practice the Investment Manager will, as a minimum, have regard to matters it sees relevant to the four identified pillars of good governance (sound management structures, employee relations, remuneration of staff and tax compliance).

###### What is the asset allocation and the minimum share of sustainable investments?
Asset allocation describes the share of investments in specific assets.
The Investment Manager expects at least 70% of the Fund to be invested in sustainable investments, in pursuit of the sustainable investment objective. The Fund is not required to favour any specific type of sustainable investment, and may invest in assets supporting any environmental and/or social goal, but will pay particular heed to climate change mitigation by using extra sustainability indicators for climate change mitigation, measuring performance on these characteristics at fund level, i.e. even where an investment has been purchased in pursuit of a social objective.
The Fund will invest at least 20% in sustainable investments with a social objective and at least 30% in sustainable investments with an environmental objective that are not aligned to the EU Taxonomy. Subject to those minima, the Fund may flexibly allocate between the different types of sustainable investments based on availability and attractiveness of investment opportunities, whilst keeping the aggregate allocation to sustainable investments with environmental and/or social objectives to a minimum of 70%.
The Fund typically invests 20-50% of its Net Asset Value in positive impact assets with a minimum of 20% and no maximum exposure.
| Investments |  |  |
| --- | --- | --- |
|  |

#1 Sustainable
#2 Not sustainable
Environmental
Social
Taxonomy-aligned
Other
#1 Sustainable covers sustainable investments with environmental or social objectives.
Taxonomy-aligned activities are expressed as a share of:
- turnover reflecting the shareof revenue from green activities of investee companies.
- capital expenditure (CapEx)showing the green investments made by investee companies, eg for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

#2 Not sustainable includes investments which do not qualify as sustainable investments.

######  How does the use of derivatives attain the sustainable investment objective?
Derivatives are only considered to contribute to the sustainable investment objective where such contribution can be evidenced:
- Where a derivative represents exposure to a single name, it must be a sustainable investment that contributes to the Fund’s sustainable investment objective.
- Where a derivative represents exposure to a diversified financial index, the index's contribution to the sustainable investment objective must be evidenced. For example, the index rules may cause it to operate to deliver certain characteristics that are considered to positively contribute to the sustainable investment objective.

Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities
are activities for which low- carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.

###### To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
Whilst the minimum mandatory allocation to Taxonomy-aligned sustainable investments is 0%, the Fund is permitted to allocate to such investments, which would form part of its overall allocation to sustainable investments with environmental objectives.

######  What is the minimum share of investments in transitional and enabling activities?
0%

###### What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
30%

###### What is the minimum share of sustainable investments with a social objective?
20%

###### What investments are included under “#2 Not sustainable”, what is their purpose and are there any minimum environmental or social safeguards?
The Fund may hold cash, near cash and money market funds, FX, interest rate derivatives and similar derivatives (which may include certain technical trades such as government bond futures used for duration trades) as “Other” investments, for any purpose permitted by the Fund’s investment policy. No minimum environmental or social safeguards are applied.
Derivatives used to take investment exposure to diversified financial indices (excluding technical trades), and funds (i.e. UCITS and other UCIs) may be held for hedging purposes or in connection with cash held for ancillary liquidity and will be subject to such minimum environmental or social safeguard tests as the Investment Manager considers appropriate, for example a minimum weighted ESG score test.
It is also possible that the Fund may hold investments that are not in line with the sustainable investment objective, e.g. as a result of a merger or other corporate action, or as a result of the characteristics of a previously acquired investment changing. Where this happens, the Fund will generally seek to dispose of them in the best interests of investors, but may not always be able to do so immediately.

###### Is a specific index designated as a reference benchmark to meet the sustainable investment objective?
No
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

######  How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective?
Not Applicable

######  How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
Not Applicable

######  How does the designated index differ from a relevant broad market index?
Not Applicable

######  Where can the methodology used for the calculation of the designated index be found?
Not Applicable
Where can I find more product specific information online? 
More product-specific information can be found on the website: www.mandg.com/country-specific-fund-literature

## Fixed Maturity Funds

### M&G (Lux) Multi Asset 2023 Fund
Launch Date	14 December 2017
Investment Objective   The Fund has two aims:
- to pay a fixed annual distribution of 2.5% based on the initial amount invested until maturity in December 2023; and
- to grow capital over the six-year term.

Investment Policy	The Fund invests in open-ended investment funds where the Investment Manager is M&G Investment Management Limited to gain exposure to a range of assets. The open-ended investment funds can be invested in single asset class or in a range of asset classes, including equities, fixed income securities, property, convertibles, currencies and money market instruments from anywhere in the world.
In the period leading up to maturity, the Fund may hold high levels of cash and near cash.
The Fund will be established for a period of six years after the Initial Offer Period, during which time no further subscriptions will be allowed. Investors who remain invested until maturity will not be subject to any redemption charge, however investors who redeem prior to maturity will be subject to a regressive redemption charge4.
Investment Strategy   Investment Approach
The Investment approach combines in-depth research to work out the value of assets over the short to medium term, with analysis of market reactions to events, to identify investment opportunities. The Investment Manager has a flexible top-down approach to the allocation of capital between different types of funds in response to changes in economic conditions and asset values.
The Investment Manager believes that this approach has the potential to deliver the objective over the six year term with an expected annualised volatility (the degree to which the value of the Fund fluctuates over any 12-month period) of around 8%. The Fund will invest in different strategies, including income strategies to generate an income but can distribute from capital to meet the annual fixed distribution of 2.5%.
Responsible Investment Approach
The Fund is categorised as ESG Integrated.
The ESG categorisation of the Fund is explained in the section "ESG Glossary" of Appendix 1 of this Prospectus.
EU Sustainable Finance Disclosure Regulation
SFDR
The Fund is categorised as an Article 6 fund under SFDR. This Fund does not promote environmental or social characteristics, therefore, the Investment Manager does not systematically consider the adverse impacts of its investment decisions on Sustainability Factors. The Fund does consider sustainability risks and their impacts as detailed in the section “Sustainability Risks”.
4 See table below headed "Redemption Charge Schedule".
Taxonomy Regulation
The Fund’s underlying investments do not take into account the EU criteria for environmentally
sustainable economic activities.
Benchmark	The Fund is actively managed and it has no benchmark.
Investors can assess the performance of the Fund by its investment objective to provide a fixed annual income and grow capital over the term of the Fund.
Duration	The Fund is established for a period of six years from the launch date.
Product Structure	No further subscriptions can be made in the Fund. Shareholders may apply for redemption of all or any of their Shares on the Dealing Day of the Fund. Note that for redemptions prior to maturity a redemption charge will apply as detailed below.
Investment period
During the investment period the Fund will be run in accordance with the Fund objective and investment policy. In the event of significant investor redemptions during the investment period and/or the net assets of the Fund falling below EUR20m, the Board of Directors reserves the right to close the Fund before the scheduled maturity date.
Maturity
Shares will be redeemed at the end of the Fund’s term of six years following launch date. Nonetheless, and where it is in the best interest of the Shareholders, the Board of the Directors will convene an extraordinary general meeting of Shareholders of the Fund to decide to reduce or extent the maturity of the Fund.
Profile of Typical Investor
Typical investors may be retail, professional or Institutional Investors who are looking for income and growth of capital but can bear the economic risk of the loss of their investment in the Fund.
In each case it is expected that all investors will understand and appreciate the risks associated with investing in Shares of the Fund.
This Fund is designed for investors who have an investment time horizon of six years and are
therefore prepared to remain invested until the Fund’s maturity.
Reference Currency	EUR
Dealing Day	Shares are not available for subscription. All Dealing Days are for redemption requests only, and will be every Business Day.
Redemptions	Redemption requests will be executed on each Business Day. Shareholders will receive a gross redemption amount, based on the Price per Share and the applicable redemption charge.
Dealing Request Deadline
13.00 hours (Luxembourg time) on each Dealing Day. Redemption requests may be placed on each Business Day (up to the Dealing Request Deadline).
Distribution Policy	If declared, unless otherwise specified for a Share Class, the Fund will pay distributions on an annual basis. There will be a pro rata adjustment done on the distribution taking into account any partial redemption.
Fees and Expenses	Unlike what is described in the section Fees and Expenses, the Management Company will take a single charge from each Share Class of the Fund to cover its duties, as well as operating, administration and oversight costs associated with the Fund. Such charge will be calculated and taken into account daily ("Single Charge").
The Single Charge includes:
- Annual Management Charge;
- Administration Charge (the discount on the Administration Charge as described in the section "Fees and Expenses" of the Prospectus is not applicable to Funds that apply a Single Charge);
- Share Class Hedging Charge (where applicable);
- Taxe d’abonnement;
- Depositary’s Charge;
- Custody Charges and Custody Transaction Charges; and
- Other expenses. The Single Charge excludes:
- Portfolio transaction costs (dealing spread, broker commissions, transfer taxes and stampduty incurred by the Company on the Fund’s transactions);
- Any initial charge or redemption charge; and
- Any extraordinary expenses including, without limitation, litigation expenses and the full amount of any tax, levy, duty or similar charge imposed on the Fund that would not be considered as ordinary expenses.

Where a Fund invests in the units or shares of other funds, the fees and expenses incurred in underlying funds follow the treatment described in the section "Fees and Expenses" of the Prospectus.
Main Risks	The Fund is exposed to the following main risks typically associated with the securities and instruments the Fund invests in or uses to seek to achieve its investment objective.
- Capital & income will vary
- Investment in funds
- Redemption charge
- Funds or share classes with fixed distributions
- LiquidityRisk associated with the underlying open-ended investment funds:
- Counterparty
- Credit
- Interest rate
- Emerging markets
- Securitised bonds
- Contingent convertible debt securities
- Derivative instruments
- LiquidityInvestors should read the section "Risk Factors" for a full description of risks.

Share Classes Available for Issue
| Share Class | Single (annual rate) | Initial Charge | Redemption Charge |
| --- | --- | --- | --- |
| P | 1.60% | - | See the schedule below |

Initial and Redemption Charges shown are the maximum figures and, in some cases, may be less.
Not all Share Classes listed are available for subscription at the time of issue of this Prospectus. A list of Share Classes issued in this Fund can be found on the M&G website.
Redemption Charge Schedule
Shareholders who redeem prior to the Fund’s maturity may be subject to redemption charges as follows:
| Year | 1 | 2 | 3 | 4 | 5 | 6 |
| --- | --- | --- | --- | --- | --- | --- |
| Redemption Charge | 2.50% | 2.00% | 1.50% | 1.00% | 0.75% | 0.50% |

The Directors may reduce or waive the Redemption Charge amount in their sole discretion

Translation (ENFR, 2023-01-01):
# Suppléments des Fonds
Les informations contenues dans chaque Supplément des Fonds doivent être lues conjointement avec le Prospectus complet.

## Fonds d’actions

### M&G (Lux) Asian Fund
| Date de lancement | 26 octobre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à dégager un rendement total (croissance du capital plus revenu) supérieur à celui du marché d’actions d’Asie-Pacifique (hors Japon) sur toute période de cinq ans tout en appliquant les Critères ESG. |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions de sociétés qui sont domiciliées ou qui mènent la majeure partie de leurs activités économiques dans la région Asie-Pacifique (hors Japon). Le Fonds peut investir dans des Actions A chinoises via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Connect, ou, à compter du 1er février 2023, via le statut QFI accordé au Gestionnaire des Investissements. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et d’orientation positive ESG (« Positive ESG Tilt »), tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts et des warrants. Le Fonds peut également utiliser des instruments dérivés à des fins de couverture et de gestion efficace du portefeuille. |
| Stratégie d’investissement | Approche d’investissement Le Fonds adopte une approche « bottom-up » de sélection des valeurs afin d’identifier les sociétés dont les perspectives à long terme sont, de l’avis du Gestionnaire des Investissements, sous-évaluées. L’approche du Fonds comprend trois éléments : le rendement sur le capital, les valorisations et la gouvernance d’entreprise. Le Gestionnaire des Investissements est convaincu que les facteurs financiers propres aux sociétés, en particulier leur rentabilité (mesurée en termes de rendement sur capital) déterminent le prix des actions à long terme. L’exposition sectorielle et géographique du Fonds n’est pas influencée par une approche financière « top-down ». Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |

| dans le secteur des services financiers |  |
| --- | --- |
| Indice de référence | Indice MSCI AC Asia Pacific ex Japan Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence et, par conséquent, la performance du Fonds peut s’écarter sensiblement de celle de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent obtenir une croissance du capital et du revenu à long terme par le biais d’investissements dans des titres asiatiques, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié aux marchés émergents
- Chine
- Risques de change et de taux de change
- Risque lié à une catégorie d’actifs, une région ou un secteur spécifique
- Risque de liquidité
 |

- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,50 % | 5,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,00 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,50 % | - | - | 1,00 % | Voir le Calendrie r des CDSC ci- dessous | 0,05 % | 0,15 % |
| Z | - | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Asian Fund
Identifiant d’entité juridique : 
549300ORHSL7KYFQYW10

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une Orientation positive ESG (telles que définies ci- dessous):
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Le Fonds maintient une notation ESG moyenne pondérée qui est soit
- supérieure à celle du marché des actions tel que représenté par son univers d’investissement, soit
- équivalente à au moins une notation A de MSCI, selon la valeur la plus basse (« Orientation positive ESG »).

Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants:
- Approche d’exclusion: Pourcentage (%) de la VL détenu dans des investissements exclus
- Orientation positive ESG: note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement ou par rapport à la note ESG correspondant à la valeur numérique la plus faible de la notation A de MSCI.

Quels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?
Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement. Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus devrait aboutir à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

Les Critères ESG du Fonds s’appliquent au moins à:
- 90% des actions émises par des sociétés à grande capitalisation dans des pays développés, des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit « investment grade », et des titres de créance souverains émis par des pays développés;
- 75% des actions émises par des sociétés à grande capitalisation dans des pays émergents, des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays, des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, et des titres de créance souverains émis par des pays des marchés émergents.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- L’Orientation positive ESG du Fonds;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0%
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S 1%
#2 Autres 1%
#1A Durables 1%
#1B Autres caractéristiques E/S 1%
Autres aspects environnementaux 1%
Sociaux 1%
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les instruments dérivés ne sont pas utilisés pour atteindre les caractéristiques environnementales et/ou sociales promues.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est indiqué ci-dessous.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum. Aucune garantie environnementale ou sociale minimale n’est appliquée aux instruments dérivés de devises.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Better Health Solutions Fund
| Date de lancement | Le 2 mars 2023 ou toute autre date fixée par la Société de gestion ou par le Conseil d’administration de la Société. |
| --- | --- |
| Objectif d’investissement | Le Compartiment a deux objectifs : - Objectif financier : générer un rendement total (croissance du capital et revenu) supérieur à celui des marchés d’actions internationaux sur toute période de cinq ans ; et
- Objectif d’impact : investir dans des sociétés qui fournissent des solutions pour améliorer la santé et le bien-être.
 |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions et titres assimilés à des actions de sociétés de tout secteur et de toute capitalisation de marché qui sont domiciliées, constituées ou cotées dans n’importe quel marché développé. Le Fonds possède un portefeuille concentré comportant en général moins de 40 sociétés. Le Fonds peut également investir dans des actions et titres assimilés à des actions de sociétés domiciliées, constituées ou cotées dans les marchés émergents, y compris des investissements dans des Actions A chinoises via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Connect, jusqu’à 20 % de sa Valeur liquidative. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion, en plus de sa stratégie d’investissement durable utilisée dans le cadre de la réalisation de l’objectif d’investissement durable, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir indirectement via des fonds (c’est-à-dire des OPCVM et d’autres OPC, y compris des fonds gérés par M&G), et peut investir dans d’autres valeurs mobilières telles que des obligations à court terme et des instruments du marché monétaire à des fins de gestion de la liquidité, des liquidités et des quasi-liquidités. Le Fonds peut utiliser des instruments dérivés à des fins de gestion efficace du portefeuille et de couverture. |
| Stratégie d’investissement | Approche d’investissement Le Fonds est un portefeuille concentré d’actions mondiales, investissant sur le long terme dans des sociétés qui fournissent des solutions pour améliorer la santé et le bien-être de même qu’un rendement financier, grâce à un processus discipliné de sélection de titres. Le Fonds investit dans des sociétés qui fournissent des solutions visant à améliorer la santé et/ou le bien-être, comme expliqué dans [l’annexe précontractuelle] au Supplément de ce Fonds. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / Impact. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité | Le Fonds est classé en tant que fonds relevant de l’Article 9 du Règlement SFDR, et des informations sur ses investissements durables figurent dans l’annexe précontractuelle au Supplément de ce Fonds. |

| dans le secteur des services financiers |  |
| --- | --- |
| Indice de référence | Indice MSCI World Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux l’objectif financier du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence et, par conséquent, la performance du Fonds peut s’écarter sensiblement de celle de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent allier croissance du capital et revenus par le biais d’un portefeuille qui investit dans le monde entier dans des actions de sociétés fournissant des solutions pour améliorer la santé et le bien-être, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que les objectifs du Fonds seront atteints. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié aux portefeuilles concentrés
- Risque lié aux marchés émergents
- Risque lié à la Chine
- Risque lié aux petites entreprises
- Risques de change et de taux de change
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESG
 |

Pour une description plus détaillée des risques, les investisseurs sont invités à lire la section
« Facteurs de risque ».
Catégories d’Actions disponibles pour émission
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1,75 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,25 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | Jusqu’à 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | Jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| L | 0,30 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| LI | 0,30 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| N | Jusqu’à 1,75 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| X | 1,75 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 9, paragraphes 1 à 4a, du Règlement (UE) 2019/2088 et à l’article 5, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Better Health Solutions Fund
Identifiant d’entité juridique : 
254900DW7OX08JEEMU71

#### Objectif d’investissement durable
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social : 80 %
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de
% d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quel est l’objectif d’investissement durable de ce produit financier ?
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Investir dans des sociétés qui apportent des solutions pour améliorer la santé et le bien-être.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de l’objectif d’investissement durable de ce produit financier ?
Pour chaque action détenue dans le portefeuille, le Gestionnaire d’investissement utilisera les indicateurs de durabilité suivants :
- Pourcentage (%) de la VL dans des investissements alignés sur les Objectifs de développement durable des Nations unies (« ODD ») :
	- ODD2 - Faim « zéro »
	- ODD3 - Bonne santé et bien-être ;
	- ODD6 - Eau propre et assainissement
	- ODD11 - Villes et communautés durables ;
	- ODD12 - Consommation et production responsables ;En outre, pour chaque investissement considéré comme aligné sur les ODD, le Gestionnaire d’investissement évaluera la force de la contribution aux ODD concernés.


Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Dans quelle mesure les investissements durables ne causent-ils pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment :
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables.
- Les indicateurs des Principales incidences négatives considèrent comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité).
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds. Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Le Fonds investit dans des sociétés qui apportent des solutions pour améliorer la santé et/ou le bien-être. Il s’agit de sociétés qui, en se référant au cadre des Objectifs de développement durable des Nations unies, sont axées sur les objectifs de développement durable tels que Bonne santé et bien-être, Faim « zéro », Eau propre et assainissement, Villes et communautés durables, Consommation et production responsables, ainsi que d’autres sociétés dans lesquelles le Gestionnaire d’investissement estime qu’il est approprié d’investir pour atteindre l’objectif d’impact. Ces sociétés sont évaluées selon la méthodologie d’évaluation d’impact du Gestionnaire d’investissement (« Méthodologie d’impact ») décrite ci-dessous.
La Méthodologie d’impact est axée sur trois critères :
- Caractéristiques des investissements : la qualité et la pérennité du modèle d’affaires de la société et sa capacité à générer des rendements économiques durables ;
- Intention : l’objectif de la société tel que le démontre l’harmonisation de son énoncé de mission avec ses actions et sa stratégie d’entreprise ; et
- Impact : l’ampleur de l’impact sociétal net positif et les progrès de l’entreprise dans la résolution des problèmes d’égalité sociale.

Les résultats de la Méthodologie d’impact permettent au Fonds d’être alloué aux trois types d’investissement suivants :
- Les « pionniers », dont les produits ou services ont ou pourraient avoir un effet transformationnel sur l’égalité sociale.
- Les « facilitateurs », qui fournissent aux autres les outils nécessaires pour favoriser l’égalité sociale.
- Les « leaders », qui sont à la tête du développement durable dans les secteurs qui valorisent l’égalité sociale, mais qui peuvent avoir une rentabilité plus établie que les pionniers.

L’engagement du Gestionnaire d’investissement auprès des sociétés dans lesquelles le Fonds investit est fondamental pour l’approche d’investissement.
Les considérations de durabilité, qui englobent les facteurs ESG, sont entièrement intégrées dans l’analyse et les décisions d’investissement, et elles jouent un rôle important dans la détermination de l’univers d’investissement et de la construction du portefeuille.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit :
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement évalue ensuite les caractéristiques de durabilité des autres sociétés. Les investissements potentiels sont identifiés en se référant aux ODD concernés et évalués selon la Méthodologie d’impact.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds et de leur valorisation.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements en vue d’atteindre l’objectif d’investissement durable ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds :
- Les exclusions du Fonds ;
- L’allocation des actifs du Fonds, telle qu’énoncée dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? » ; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute des tests de bonne gouvernance quantitatifs basés sur les données dans sa prise en compte des investissements dans les sociétés. Le Gestionnaire d’investissement exclut les investissements dans des titres considérés comme ne satisfaisant pas aux tests de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs et la part minimale d’investissements durables ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement compte investir au moins 80 % du Fonds dans des investissements sociaux durables, afin de réaliser l’objectif d’investissement social durable.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Durables 80%
#2 Non durables 1%
Sociaux 1%
La catégorie #1 Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
Les activités alignées sur la taxinomie sont exprimées en pourcentage :
- du chiffre d’affaires pourrefléter la part des revenus provenant des activités vertes des sociétés bénéficiaires des investissements.
- des dépenses d’investissement (CapEx)pour montrer les investissements verts réalisés par les sociétés bénéficiaires des investissements, pour une transition vers une économie verte par exemple.
- des dépenses d’exploitation(OpEx) pour refléter les activités opérationnelles vertes des sociétés bénéficiaires des investissements.

La catégorie #2 Non durables inclut les investissements qui ne sont pas considérés comme des investissements durables.
Comment l’utilisation de produits dérivés atteint-elle l’objectif d’investissement durable ?
Les instruments dérivés ne sont pas utilisés pour atteindre l’objectif d’investissement durable.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif social ?
80%
Quels sont les investissements inclus dans la catégorie « #2 Non durables », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à des fins de couverture ou en relation avec des liquidités détenues à des fins de liquidité accessoire. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est décrit ci-dessous.
Lorsque des instruments dérivés sont utilisés pour prendre une exposition à des indices financiers diversifiés, ceux-ci seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés sur l’objectif d’investissement durable, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour atteindre l’objectif d’investissement durable ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence tient-il compte des facteurs de durabilité afin d’être constamment aligné sur l’objectif d’investissement durable ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Climate Solutions Fund
| Date de lancement | 12 novembre 2020 |
| --- | --- |
| Objectif d’investissement | Le Compartiment a deux objectifs : - Objectif financier : dégager un rendement total (croissance du capital plus revenu) supérieur à celui des marchés d’actions internationaux sur toute période de cinq ans.
- Objectif d’impact : investir dans des sociétés qui fournissent des solutions à la problématique du changement climatique.
 |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions et titres assimilés à des actions de sociétés de tout secteur et de toute capitalisation de marché qui sont constituées, domiciliées ou cotées dans n’importe quel marché développé. Le Compartiment possède un portefeuille concentré et détient généralement moins de 40 actions. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion, en plus de sa stratégie d’investissement durable utilisée dans le cadre de la réalisation de l’objectif d’investissement durable, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir dans des actions et titres assimilés à des actions de sociétés constituées domiciliées ou exerçant la plupart de leurs activités dans les marchés émergents, y compris des investissements dans des Actions A chinoises via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Exchange, jusqu’à 20 % de sa Valeur liquidative. Ces actions et titres assimilés à des actions sont également soumis à la méthodologie d’évaluation d’impact et aux exclusions ci-dessus. Le Fonds peut également investir indirectement par le biais de fonds (c.-à-d. des OPCVM et autres OPC, y compris des fonds gérés par M&G), et peut investir dans d’autres valeurs mobilières telles que des obligations à court terme et des instruments du marché monétaire à des fins de gestion de la liquidité, de liquidités et de quasi-liquidités. Le Fonds peut utiliser des instruments dérivés à des fins de gestion efficace du portefeuille et de couverture. |
| Stratégie d’investissement | Approche d’investissement Le Fonds est un portefeuille concentré d’actions mondiales, investissant sur le long terme dans des sociétés fournissant des solutions au défi du changement climatique de même qu’un rendement financier, grâce à un processus discipliné de sélection de titres, afin de constituer un portefeuille à forte conviction d’actifs à impact, tel qu’expliqué plus en détail dans l’annexe précontractuelle au Supplément de ce Fonds. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / Impact. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité | Le Fonds est classé en tant que fonds relevant de l’Article 9 du Règlement SFDR, et des informations sur ses investissements durables figurent dans l’annexe précontractuelle au Supplément de ce Fonds. |

| dans le secteur des services financiers |  |
| --- | --- |
| Indice de référence | Indice MSCI World Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux l’objectif financier du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Le Fonds convient aux investisseurs particuliers et institutionnels à la recherche d’une combinaison de la croissance du capital et du revenu en investissant dans un portefeuille d’actions de sociétés situées dans n’importe quelle partie du monde et qui ont pour objectif de proposer des solutions au défi du changement climatique, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que les objectifs du Fonds seront atteints. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié aux portefeuilles concentrés
- Risques de change et de taux de change
- Risque lié aux marchés émergents
- Chine
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESG
 |

Pour une description plus détaillée des risques, les investisseurs sont invités à lire la section
« Facteurs de risque ».
Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,75 % | 4,00 % |  |  | - | 0,05 % | 0,15 % |
| B | 2,25 % | - |  |  | - | 0,05 % | 0,15 % |
| C | 0,75 % | 1,25 % |  |  | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % |  |  | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | - |  |  | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| L | 0,50 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| LI | 0,50 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| N | Jusqu’à 1,75 % | 4,00 % |  |  | - | 0,05 % | 0,15 % |
| X | 1,75 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | - | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 9, paragraphes 1 à 4a, du Règlement (UE) 2019/2088 et à l’article 5, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Climate Solutions Fund
Identifiant d’entité juridique : 
254900TXGEMG2PHLBX89

#### Objectif d’investissement durable
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental : 80 %
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de
% d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quel est l’objectif d’investissement durable de ce produit financier ?
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Investir dans des sociétés qui apportent des solutions au défi du changement climatique.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de l’objectif d’investissement durable de ce produit financier ?
Indicateurs de durabilité au niveau du Fonds:
- Pourcentage (%) de la VL engagé dans des objectifs fondés sur la science (SBT)
- Pourcentage (%) de la VL avec des objectifs fondés sur la science ratifiés
- Pourcentage (%) d’émissions de CO2 avec des objectifs fondés sur la science
- Pourcentage (%) de la VL dans des investissements présentant des émissions nettes positives de carbone (c’est-à-dire des investissements considérés comme éliminant plus d’émissions potentielles de carbone qu’ils n’en produisent)
- Pourcentage (%) de la VL participant au rapport Task Force on Climate-Related Financial Disclosures (TCFD)
- Production totale d’énergies renouvelables (mégawattheures)
- Pourcentage (%) de la VL dans des investissements dans des sociétés apportant des solutions climatiques
- Pourcentage (%) de la VL dans des investissements alignés sur les Objectifs de développement durable des Nations unies (« ODD ») :
	- ODD7 - Énergie propre et d’un coût abordable
	- ODD9 - Industrie, innovation et infrastructure;
	- ODD11 - Villes et communautés durables; et
	- ODD12 - Consommation et production responsables
	- ODD15 - Vie terrestre.


En outre, pour chaque investissement considéré comme aligné sur les ODD, le Gestionnaire d’investissement évaluera la force de la contribution aux ODD concernés.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Dans quelle mesure les investissements durables ne causent-ils pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables.
- Les indicateurs des Principales incidences négatives considèrent comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité).
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds. Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Le Fonds investit dans des sociétés qui apportent des solutions pour relever le défi du changement climatique. Il s’agit de sociétés qui, en se référant au cadre des Objectifs de développement durable des Nations unies, sont axées sur les objectifs de développement durable tels que Énergie propre et d’un coût abordable, Industrie, innovation et infrastructure, Villes et communautés durables, Consommation et production responsables, Vie terrestre, ainsi que d’autres sociétés dans lesquelles le Gestionnaire d’investissement estime qu’il est approprié d’investir pour atteindre l’objectif d’impact. Ces sociétés sont évaluées selon la méthodologie d’évaluation d’impact du Gestionnaire d’investissement (« Méthodologie d’impact ») décrite ci-dessous.
La Méthodologie d’impact est axée sur trois critères:
- Caractéristiques des investissements: la qualité et la pérennité du modèle d’affaires de la société et sa capacité à générer des rendements économiques durables;
- Intention: l’objectif de la société tel que le démontre l’harmonisation de son énoncé de mission avec ses actions et sa stratégie d’entreprise; et
- Impact: l’ampleur de l’impact sociétal net positif et les progrès de l’entreprise dans la résolution des problèmes d’égalité sociale.

Les résultats de la Méthodologie d’impact permettent au Fonds d’être alloué aux trois types d’investissement suivants:
- Les « pionniers », dont les produits ou services ont ou pourraient avoir un effet transformationnel sur l’égalité sociale.
- Les « facilitateurs », qui fournissent aux autres les outils nécessaires pour favoriser l’égalité sociale.
- Les « leaders », qui sont à la tête du développement durable dans les secteurs qui valorisent l’égalité sociale, mais qui peuvent avoir une rentabilité plus établie que les pionniers.

L’engagement du Gestionnaire d’investissement auprès des sociétés dans lesquelles le Fonds investit est fondamental pour l’approche d’investissement.
Les considérations de durabilité, qui englobent les facteurs ESG, sont entièrement intégrées dans l’analyse et les décisions d’investissement, et elles jouent un rôle important dans la détermination de l’univers d’investissement et de la construction du portefeuille.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement évalue ensuite les caractéristiques de durabilité des autres sociétés. Les investissements potentiels sont identifiés en se référant aux ODD concernés et évalués selon la Méthodologie d’impact.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements en vue d’atteindre l’objectif d’investissement durable ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- L’allocation des actifs du Fonds, telle qu’énoncée dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ». Veuillez noter que la part minimale des investissements durables dont l’objectif environnemental n’est pas aligné sur la taxonomie de l’UE n’est pas contraignante lorsqu’une détention est inférieure à ce minimum en raison du fait que des investissements alignés sur la taxonomie sont détenus à la place (dans la mesure où tous ces investissements sont des investissements durables avec des objectifs environnementaux).

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute des tests de bonne gouvernance quantitatifs basés sur les données dans sa prise en compte des investissements dans les sociétés. Le Gestionnaire d’investissement exclut les investissements dans des titres considérés comme ne satisfaisant pas aux tests de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs et la part minimale d’investissements durables ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement compte investir au moins 80% du Fonds dans des investissements durables sur le plan environnemental, afin de réaliser l’objectif d’investissement durable sur le plan environnemental.
Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable sur le plan environnemental.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Durables
#2 Non durables
Environnementaux
Alignés sur la taxinomie
Autres
La catégorie #1 Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
Les activités alignées sur la taxinomie sont exprimées en pourcentage :
- du chiffre d’affaires pourrefléter la part des revenus provenant des activités vertes des sociétés bénéficiaires des investissements.
- des dépenses d’investissement (CapEx)pour montrer les investissements verts réalisés par les sociétés bénéficiaires des investissements, pour une transition vers une économie verte par exemple.
- des dépenses d’exploitation(OpEx) pour refléter les activités opérationnelles vertes des sociétés bénéficiaires des investissements.

La catégorie #2 Non durables inclut les investissements qui ne sont pas considérés comme des investissements durables.
Comment l’utilisation de produits dérivés atteint-elle l’objectif d’investissement durable ?
Les instruments dérivés ne sont pas utilisés pour atteindre l’objectif d’investissement durable.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%,
le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
80%
Quelle est la part minimale d’investissements durables ayant un objectif social ?
0%
Quels sont les investissements inclus dans la catégorie « #2 Non durables », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à des fins de couverture ou en relation avec des liquidités détenues à des fins de liquidité accessoire. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est décrit ci-dessous.
Lorsque des instruments dérivés sont utilisés pour prendre une exposition à des indices financiers diversifiés, ceux-ci seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés sur l’objectif d’investissement durable, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour atteindre l’objectif d’investissement durable ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence tient-il compte des facteurs de durabilité afin d’être constamment aligné sur l’objectif d’investissement durable ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Diversity and Inclusion Fund
| Date de lancement | 18 novembre 2021 |
| --- | --- |
| Objectif d’investissement | Le Fonds a deux objectifs : - Objectif financier : générer un rendement total (croissance du capital plus revenus) supérieur à celui du marché mondial des actions sur toute période de cinq ans ; et
- Objectif durable : investir dans des sociétés qui présentent une réelle diversité degenre et/ou ethnique, ou qui fournissent des solutions favorisant l’égalité sociale.
 |
| Politique d’investissement | Au moins 80 % de la Valeur liquidative du Fonds sont investis dans des actions et titres assimilés à des actions de Sociétés de diversité et de Sociétés d’inclusion (telles que définies dans l’annexe précontractuelle au Supplément de ce Fonds) de tout secteur et de toute capitalisation de marché qui sont constituées, domiciliées ou cotées dans n’importe quel pays, y compris sur les marchés émergents. Le Fonds possède un portefeuille concentré comportant en général moins de 40 sociétés. Le Fonds investit dans des actifs qui répondent à ses Critères ESG, en appliquant une approche d’exclusion, en plus de sa stratégie d’investissement durable utilisée dans le cadre de la réalisation de l’objectif d’investissement durable, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir indirectement via des fonds (c’est-à-dire des OPCVM et d’autres OPC, y compris des fonds gérés par M&G), et peut investir dans d’autres valeurs mobilières telles que des obligations à court terme et des instruments du marché monétaire à des fins de gestion de la liquidité, des liquidités et des quasi-liquidités. Des instruments dérivés peuvent être utilisés à des fins de Gestion efficace de portefeuille et de couverture. |
| Stratégie d’investissement | Approche d’investissement Le Fonds est un fonds d’actions mondiales qui investit à long terme dans des Sociétés de diversité et des Sociétés d’inclusion, comme expliqué dans l’annexe précontractuelle au Supplément de ce Fonds. Le Gestionnaire des Investissements sélectionne les actifs les plus appropriés pour constituer un portefeuille concentré et à forte conviction. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / Durable. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 9 du Règlement SFDR, et des informations sur ses investissements durables figurent dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Indice MSCI ACWI Net Return |

|  | L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux l’objectif financier du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| --- | --- |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels à la recherche d’une combinaison de la croissance du capital et du revenu en investissant dans un portefeuille d’actions de sociétés situées dans n’importe quelle partie du monde et qui démontrent un engagement envers le leadership en matière de diversité ou fournissent des solutions favorisant l’égalité sociale, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que les objectifs du Fonds seront atteints. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié aux marchés émergents
- Risques de change et de taux de change
- Risque lié aux portefeuilles concentrés
- Risque lié aux petites entreprises
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1,75 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | Jusqu’à 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | Jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| L | 0,30 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| LI | 0,30 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| X | 1,75 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci- dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 9, paragraphes 1 à 4a, du Règlement (UE) 2019/2088 et à l’article 5, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Diversity and Inclusion Fund
Identifiant d’entité juridique : 
254900YIO1LVTNZ3KH90

#### Objectif d’investissement durable
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social : 80 %
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de
% d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quel est l’objectif d’investissement durable de ce produit financier ?
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Investir dans des sociétés qui présentent une diversité ethnique et/ou de genre manifeste, ou qui apportent des solutions favorisant l’égalité sociale.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de l’objectif d’investissement durable de ce produit financier ?
Pour chaque action détenue dans le portefeuille, le Gestionnaire d’investissement utilisera les indicateurs de durabilité suivants:
- Évolution annuelle du nombre de femmes au sein du conseil d’administration
- Évolution annuelle du nombre de femmes aux postes de direction
- Évolution annuelle de la diversité ethnique au sein du conseil d’administration
- Évolution annuelle de la diversité ethnique aux postes de direction
- Pourcentage (%) de la VL avec une diversité de genre au sein du conseil d’administration (plus de 30%), tel que rapporté par la société
- Pourcentage (%) de la VL avec une diversité ethnique au sein du conseil d’administration (plus de 30%), tel que rapporté par la société
- Pourcentage (%) de la VL considéré par le Gestionnaire d’investissement comme présentant une diversité aux postes de direction, d’après les données communiquées par la société
- Pourcentage (%) de la VL dans des investissements alignés sur les Objectifs de développement durable des Nations unies (« ODD »):
	- ODD3 - Bonne santé et bien-être,
	- ODD4 - Éducation de qualité;
	- ODD5 - Égalité entre les sexes;
	- ODD8 - Travail décent et croissance économique;
	- ODD9 - Industrie, innovation et infrastructure;
	- ODD10 - Inégalités réduites; et
	- ODD16 - Paix, justice et institutions efficacesEn outre, pour chaque investissement considéré comme aligné sur les ODD, le Gestionnaire d’investissement évaluera la force de la contribution aux ODD concernés.


Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Dans quelle mesure les investissements durables ne causent-ils pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables.
- Les indicateurs des Principales incidences négatives considèrent comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité).
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Le Fonds investit dans des sociétés œuvrant à la diversité et à l’inclusion.
Les sociétés œuvrant à la diversité sont des sociétés qui présentent une diversité ethnique et/ou de genre manifeste. Elles doivent compter au moins 30% de femmes et/ou 30% de représentants de minorités ethniques au sein de leur conseil d’administration au moment de l’achat. Les sociétés œuvrant à la diversité achetées en raison du nombre de représentants de minorités ethniques ne doivent par ailleurs pas compter une seule origine ethnique représentant plus de 70% du conseil d’administration au moment de l’achat. Le Gestionnaire d’investissement tient également compte d’autres mesures de la diversité ethnique et/ou de genre dans l’évaluation de la contribution des sociétés œuvrant à la diversité en faveur de l’objectif durable. Les sociétés œuvrant à la diversité sont soumises à une évaluation de base selon le processus d’investissement durable du Fonds (« Cadre EQL ») décrit ci-dessous.
Le Cadre EQL évalue:
- Caractéristiques ESG: caractéristiques en matière de responsabilité environnementale et sociale mises en évidence par une gouvernance solide et des pratiques commerciales durables.
- Qualité: qualité et pérennité du modèle d’affaires de la société et sa capacité à générer des rendements économiques durables.
- Diversité des dirigeants: engagement de l’entreprise en faveur de la diversité aux postes de direction par le biais de représentants de la diversité, et de politiques et d’objectifs en matière de diversité.

Les sociétés œuvrant à l’inclusion sont des sociétés qui apportent des solutions favorisant l’égalité sociale. Il s’agit de sociétés qui, en se référant au cadre des Objectifs de développement durable des Nations unies (« ODD »), sont axées sur les objectifs de développement durable tels que Bonne santé et bien-être, Éducation de qualité, Égalité entre les sexes, Travail décent et croissance économique, Industrie, innovation et infrastructure, Inégalités réduites, et Paix, justice et institutions efficaces, ainsi que d’autres sociétés dans lesquelles le Gestionnaire d’investissement estime qu’il est approprié d’investir pour atteindre l’objectif durable. Ces sociétés sont évaluées selon la méthodologie d’évaluation d’impact du Gestionnaire d’investissement (« Méthodologie d’impact ») décrite ci- dessous.
La Méthodologie d’impact est axée sur trois critères:
- Caractéristiques des investissements: la qualité et la pérennité du modèle d’affaires de la société et sa capacité à générer des rendements économiques durables;
- Intention: l’objectif de la société tel que le démontre l’harmonisation de son énoncé de mission avec ses actions et sa stratégie d’entreprise; et
- Impact: l’ampleur de l’impact sociétal net positif et les progrès de l’entreprise dans la résolution des problèmes d’égalité sociale.

Les résultats de la Méthodologie d’impact permettent au Fonds d’être alloué aux trois types d’investissement suivants:
- Les « pionniers », dont les produits ou services ont ou pourraient avoir un effet transformationnel sur l’égalité sociale.
- Les « facilitateurs », qui fournissent aux autres les outils nécessaires pour favoriser l’égalité sociale.
- Les « leaders », qui sont à la tête du développement durable dans les secteurs qui valorisent l’égalité sociale, mais qui peuvent avoir une rentabilité plus établie que les pionniers.

L’engagement du Gestionnaire d’investissement auprès des sociétés dans lesquelles le Fonds investit est fondamental pour l’approche d’investissement. Les considérations de durabilité, qui englobent les facteurs ESG, sont entièrement intégrées dans l’analyse et les décisions d’investissement, et elles jouent un rôle important dans la détermination de l’univers d’investissement et de la construction du portefeuille. Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement évalue ensuite les caractéristiques de durabilité des autres sociétés:
	- a. Les sociétés œuvrant à la diversité sont évaluées à l’aide du Cadre EQL; et
	- b. Les sociétés œuvrant à l’inclusion sont identifiées en se référant aux ODD concernés et évaluées selon la Méthodologie d’impact.

- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements en vue d’atteindre l’objectif d’investissement durable ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- L’allocation des actifs du Fonds, telle qu’énoncée dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute des tests de bonne gouvernance quantitatifs basés sur les données dans sa prise en compte des investissements dans les sociétés. Le Gestionnaire d’investissement exclut les investissements dans des titres considérés comme ne satisfaisant pas aux tests de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs et la part minimale d’investissements durables ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement compte investir au moins 80% du Fonds dans des investissements sociaux durables, afin de réaliser l’objectif d’investissement social durable.
Le Fonds détient au moins 15% et généralement un maximum de 30% dans des sociétés œuvrant à l’inclusion, le reste des investissements durables étant détenu dans des sociétés œuvrant à la diversité.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Durables
#2 Non durables
Sociaux
La catégorie #1 Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
Les activités alignées sur la taxinomie sont exprimées en pourcentage :
- du chiffre d’affaires pourrefléter la part des revenus provenant des activités vertes des sociétés bénéficiaires des investissements.
- des dépenses d’investissement (CapEx)pour montrer les investissements verts réalisés par les sociétés bénéficiaires des investissements, pour une transition vers une économie verte par exemple.
- des dépenses d’exploitation(OpEx) pour refléter les activités opérationnelles vertes des sociétés bénéficiaires des investissements.

La catégorie #2 Non durables inclut les investissements qui ne sont pas considérés comme des investissements durables.
Comment l’utilisation de produits dérivés atteint-elle l’objectif d’investissement durable ?
Les instruments dérivés ne sont pas utilisés pour atteindre l’objectif d’investissement durable.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif social ?
80%
Quels sont les investissements inclus dans la catégorie « #2 Non durables », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à des fins de couverture ou en relation avec des liquidités détenues à des fins de liquidité accessoire. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est décrit ci-dessous.
Lorsque des instruments dérivés sont utilisés pour prendre une exposition à des indices financiers diversifiés, ceux-ci seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour atteindre l’objectif d’investissement durable ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence tient-il compte des facteurs de durabilité afin d’être constamment aligné sur l’objectif d’investissement durable ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) European Strategic Value Fund
| Date de lancement | 18 septembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à dégager un rendement total (croissance du capital plus revenu) supérieur à celui du marché d’actions européen sur toute période de cinq ans tout en appliquant les Critères ESG. |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions de sociétés de tout secteur et de toute capitalisation de marché domiciliées ou conduisant la majeure partie de leurs activités économiques en Europe. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et d’orientation positive ESG (« Positive ESG Tilt »), tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts et des warrants. Le Fonds peut également utiliser des instruments dérivés à des fins de couverture et de gestion efficace du portefeuille. |
| Stratégie d’investissement | Approche d’investissement Le Fonds adopte une approche « bottom-up » de sélection des valeurs afin d’identifier les actions de sociétés européennes qui selon le Gestionnaire des Investissements sont sous- évaluées. Le Gestionnaire des Investissements cherche à identifier les sociétés mal évaluées, tout en essayant d’éviter les sociétés dont la mauvaise valorisation est justifiée et dont le prix des actions continuerait certainement d’évoluer à la baisse avec le temps. L’approche du Fonds combine une sélection précise axée sur la valeur et une analyse qualitative rigoureuse afin de s’assurer que le Fonds dispose d’un biais de valeur cohérent et rigoureux, sans compromettre la solidité des sociétés dans le portefeuille. Les principaux vecteurs de rendements devraient être le style axé sur la valeur et la sélection de titres globale plutôt que tout secteur ou titre individuel. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |

| Indice de référence | Indice MSCI Europe Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence et, par conséquent, la performance du Fonds peut s’écarter sensiblement de celle de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| --- | --- |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent allier revenu et croissance du capital dans un portefeuille composé principalement d’actions européennes, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | EUR |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié à une catégorie d’actifs, une région ou un secteur spécifique
- Risque lié aux petites entreprises
- Risques de change et de taux de change
- Risque lié aux marchés émergents
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,50 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,00 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| N | jusqu’à 1,50 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| X | 1,50 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) European Strategic Value Fund
Identifiant d’entité juridique : 
549300F39NTG0M8EIX97

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une Orientation positive ESG (telles que définies ci- dessous) :
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Le Fonds maintient une notation ESG moyenne pondérée qui est soit
- supérieure à celle du marché des actions tel que représenté par son univers d’investissement, soit
- équivalente à au moins une notation A de MSCI, selon la valeur la plus basse (« Orientation positive ESG »).

Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants :
- Approche d’exclusion : Pourcentage (%) de la VL détenu dans des investissements exclus
- Orientation positive ESG : note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement ou par rapport à la note ESG correspondant à la valeur numérique la plus faible de la notation A de MSCI.

Quels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?
Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment :
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit :
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus devrait aboutir à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

Les Critères ESG du Fonds s’appliquent au moins à :
- 90% des actions émises par des sociétés à grande capitalisation dans des pays développés, des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit « investment grade », et des titres de créance souverains émis par des pays développés ;
- 75% des actions émises par des sociétés à grande capitalisation dans des pays émergents, des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays, des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, et des titres de créance souverains émis par des pays des marchés émergents.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds :
- Les exclusions du Fonds ;
- L’Orientation positive ESG du Fonds ;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? » ; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0%
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les instruments dérivés ne sont pas utilisés pour atteindre les caractéristiques environnementales et/ou sociales promues.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0 %
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0 %, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est indiqué ci-dessous.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum. Aucune garantie environnementale ou sociale minimale n’est appliquée aux instruments dérivés de devises.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Global Dividend Fund
| Date de lancement | 18 septembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds a deux objectifs : - générer un rendement total (croissance du capital plus revenu) supérieur à celui des marchés d’actions internationaux sur toute période de cinq ans tout en appliquant les Critères ESG ; et
- générer un flux de revenu en dollars américains qui augmente chaque année.
 |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions de sociétés de tout secteur et de toute capitalisation de marché qui sont domiciliées dans n’importe quel pays, y compris les marchés émergents. Le Fonds détient généralement moins de 50 titres. Le Fonds peut investir dans des Actions chinoises A via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Connect. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et d’orientation positive ESG (« Positive ESG Tilt »), tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts et des warrants. Le Fonds peut également utiliser des instruments dérivés à des fins de couverture et de gestion efficace du portefeuille. |
| Stratégie d’investissement | Approche d’investissement Le Fonds adopte une approche « bottom-up » de sélection des valeurs fondée sur l’analyse fondamentale des sociétés individuelles. Le rendement de l’action n’est pas l’élément essentiel de la sélection. Le Gestionnaire des Investissements cherche à créer un portefeuille diversifié exposé à un large éventail de pays et de secteurs. Des titres bénéficiant de différentes sources de croissance des dividendes sont sélectionnés afin de constituer un portefeuille à même de bien se comporter dans diverses conditions de marché. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |

| Indice de référence | Indice MSCI ACWI Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence et, par conséquent, la performance du Fonds peut s’écarter sensiblement de celle de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| --- | --- |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et aux Investisseurs institutionnels qui souhaitent allier revenu et croissance du capital dans un portefeuille diversifié composé de titres de sociétés du monde entier, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions, le Fonds versera des dividendes sur une base trimestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risques de change et de taux de change
- Risque lié aux portefeuilles concentrés
- Risque lié aux marchés émergents
- Chine
- Risque lié aux petites entreprises
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,75 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,25 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| G | 1,00 % | - | - | - | - | 0,05 % | 0,15 % |
| GI | 1,00 % | - | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,75 % | - | - | 1,00 % | Voir le Calendrie r des CDSC ci- dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Global Dividend Fund
Identifiant d’entité juridique : 
549300TRK90WIUZI3612

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une Orientation positive ESG (telles que définies ci- dessous) :
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Le Fonds maintient une notation ESG moyenne pondérée qui est soit
- supérieure à celle du marché des actions tel que représenté par son univers d’investissement, soit
- équivalente à au moins une notation A de MSCI, selon la valeur la plus basse (« Orientation positive ESG »).

Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants :
- Approche d’exclusion : Pourcentage (%) de la VL détenu dans des investissements exclus
- Orientation positive ESG : note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement ou par rapport à la note ESG correspondant à la valeur numérique la plus faible de la notation A de MSCI.

Quels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?
Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment :
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit :
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus devrait aboutir à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

Les Critères ESG du Fonds s’appliquent au moins à :
- 90% des actions émises par des sociétés à grande capitalisation dans des pays développés, des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit « investment grade », et des titres de créance souverains émis par des pays développés ;
- 75% des actions émises par des sociétés à grande capitalisation dans des pays émergents, des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays, des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, et des titres de créance souverains émis par des pays des marchés émergents.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds :
- Les exclusions du Fonds ;
- L’Orientation positive ESG du Fonds ;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? » ; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0%
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les instruments dérivés ne sont pas utilisés pour atteindre les caractéristiques environnementales et/ou sociales promues.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est indiqué ci-dessous.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum. Aucune garantie environnementale ou sociale minimale n’est appliquée aux instruments dérivés de devises.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Global Emerging Markets Fund
| Date de lancement | 26 octobre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à dégager un rendement total (croissance du capital plus revenu) supérieur à celui du marché d’actions des marchés émergents internationaux sur toute période de cinq ans tout en appliquant les Critères ESG. |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions de sociétés domiciliées ou conduisant la majeure partie de leurs activités économiques dans des marchés émergents. Le Fonds peut investir dans des Actions chinoises A via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Connect. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et d’orientation positive ESG (« Positive ESG Tilt »), tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts et des warrants. Le Fonds peut également utiliser des instruments dérivés à des fins de couverture et de gestion efficace du portefeuille. |
| Stratégie d’investissement | Approche d’investissement Le Fonds adopte une approche « bottom-up » de sélection des valeurs afin d’identifier les sociétés dont les perspectives à long terme sont, de l’avis du Gestionnaire des Investissements, sous-évaluées. L’approche du Fonds comprend trois éléments : le rendement sur le capital, les valorisations et la gouvernance d’entreprise. Le Gestionnaire des Investissements est convaincu que les facteurs financiers propres aux sociétés, en particulier leur rentabilité (mesurée en termes de rendement sur capital) déterminent le prix des actions à long terme. L’exposition sectorielle et géographique du Fonds n’est pas influencée par une approche financière « top-down ». Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |

| Indice de référence | Indice MSCI Emerging Markets Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence et, par conséquent, la performance du Fonds peut s’écarter sensiblement de celle de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| --- | --- |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent allier revenus et croissance du capital à travers une exposition aux marchés émergents, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié aux marchés émergents
- Chine
- Risques de change et de taux de change
- Risque de liquidité
- Risque lié à une catégorie d’actifs, une région ou un secteur spécifique
- Risque lié aux petites entreprises
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,75 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,25 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,75 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Global Emerging Markets Fund
Identifiant d’entité juridique : 
54930005JJ2DZTKZDJ63

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une Orientation positive ESG (telles que définies ci- dessous) :
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Le Fonds maintient une notation ESG moyenne pondérée qui est soit
- supérieure à celle du marché des actions tel que représenté par son univers d’investissement, soit
- équivalente à au moins une notation A de MSCI, selon la valeur la plus basse (« Orientation positive ESG »).

Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants :
- Approche d’exclusion : Pourcentage (%) de la VL détenu dans des investissements exclus
- Orientation positive ESG : note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement ou par rapport à la note ESG correspondant à la valeur numérique la plus faible de la notation A de MSCI.

Quels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?
Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment :
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit :
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus devrait aboutir à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

Les Critères ESG du Fonds s’appliquent au moins à :
- 90 % des actions émises par des sociétés à grande capitalisation dans des pays développés, des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit « investment grade », et des titres de créance souverains émis par des pays développés ;
- 75 % des actions émises par des sociétés à grande capitalisation dans des pays émergents, des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays, des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, et des titres de créance souverains émis par des pays des marchés émergents.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds :
- Les exclusions du Fonds ;
- L’Orientation positive ESG du Fonds ;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? » ; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0 %
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70 % du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20 % du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les instruments dérivés ne sont pas utilisés pour atteindre les caractéristiques environnementales et/ou sociales promues.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0 %
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0 %, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est indiqué ci-dessous.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum. Aucune garantie environnementale ou sociale minimale n’est appliquée aux instruments dérivés de devises.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Global Enhanced Equity Premia Fund
| Date de lancement | 10 décembre 2019 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à dégager un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché d’actions international sur toute période de cinq ans. |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions de sociétés de tout secteur et de toute capitalisation de marché qui sont domiciliées dans n’importe quel pays, y compris les marchés émergents. Le Fonds peut investir dans des Actions A chinoises via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Connect. Le Fonds peut également investir dans d’autres valeurs mobilières, des liquidités et des quasi-liquidités, directement ou via des organismes de placement collectif (y compris des fonds gérés par M&G). Des instruments dérivés peuvent être utilisés à des fins de Gestion efficace de portefeuille et de couverture. |
| Stratégie d’investissement | Approche d’investissement Le Fonds applique une approche d’investissement systématique pour sélectionner les titres dont le Gestionnaire des Investissements estime qu’ils surperformeront les autres sociétés sur le marché d’actions mondial. À partir de l’univers d’investissement du Fonds, chaque titre est classé selon cinq critères clés ou « Facteurs » : Valeur, Qualité, Momentum, Volatilité et Taille. D’un point de vue historique, les titres exposés à ces facteurs (valorisation attrayante, qualité élevée, momentum positif, faible volatilité et taille réduite de société) ont dégagé des rendements excédentaires ou des primes sur les actions. Ces classements sont ensuite combinés pour fournir une « note » unique à chaque titre. La pondération de chaque facteur au niveau de cette note unique est déterminée par le Gestionnaire des Investissements et reflète les conditions de marché existantes. Les titres assortis d’une note élevée sont des candidats pour intégrer le portefeuille du Fonds. La répartition géographique et sectorielle de l’indice de référence servant de comparateur du Fonds est aussi prise en compte afin de garantir la diversification du portefeuille. Dans le cadre du processus de construction du portefeuille, les différences entre les caractéristiques du Fonds et celles de son comparateur de performance (comme les pondérations sectorielles, géographiques et des facteurs de risque) peuvent être limitées. Cette manière de gérer le Fonds limite l’ampleur attendue de l’écartement du Fonds par rapport au comparateur de performance. Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication | Règlement SFDR |

| d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. |
| --- | --- |
| Indice de référence | Indice MSCI ACWI Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Compartiment, car il reflète le mieux la portée de la politique d’investissement du Compartiment. L’indice de référence agit aussi en tant que contrainte sur la construction du portefeuille du Fonds, car certaines limites, comme les contraintes en termes d’exposition géographique ou sectorielle, peuvent s’appliquer à tout moment. Le Compartiment fait l’objet d’une gestion active. Dans les limites des contraintes données, le Gestionnaire des Investissements peut choisir librement les investissements qu’il souhaite acheter, détenir ou vendre au sein du Fonds. Les participations du portefeuille du Fonds peuvent différer sensiblement des éléments constitutifs de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et aux Investisseurs institutionnels qui souhaitent allier revenu et croissance du capital dans un portefeuille diversifié composé de titres de société du monde entier, mais qui savent que leur capital est exposé à un risque et que la valeur de leur investissement ainsi que tout revenu dérivé peuvent chuter aussi bien que grimper. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Devise de référence | USD |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risques de change et de taux de change
- Risque lié aux marchés émergents
- Chine
- Risque lié aux petites entreprises
 |

- Risque de liquidité
- Risque de contrepartiePour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 0,40 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 0,90 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,15 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,15 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,10 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,10 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 0,40 % | - | - | 0,01 | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | - | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.

### M&G (Lux) Global Listed Infrastructure Fund
| Date de lancement | 5 octobre 2017 |
| --- | --- |
| Objectif d’investissement | Le Compartiment a deux objectifs : - dégager un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché d’actions mondial sur toute période de cinq ans ; et
- générer un flux de revenu en dollars américains qui augmente chaque année.
 Le Fonds cherche à atteindre ses objectifs financiers tout en appliquant des Critères ESG. |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions cotées en bourse émises par des sociétés d’infrastructure, des fonds de placement et des fiducies de placement immobilier à capital fixe (« FPI ») de toute capitalisation de marché domiciliée dans n’importe quel pays, y compris les marchés émergents. L’allocation minimale de 80 % peut comprendre les actions ordinaires, les actions privilégiées et les obligations convertibles (le Fonds peut détenir jusqu’à 20 % de sa Valeur liquidative dans des obligations convertibles). Les sociétés d’infrastructure comprennent celles engagées dans les activités commerciales suivantes : les services publics, l’énergie, le transport, la santé, l’éducation, la sécurité, la communication et les transactions. Le Fonds devrait présenter une volatilité plus réduite et dégager des rendements en dividendes plus élevés que le marché d’actions mondial, ce qui correspond aux caractéristiques des titres des sociétés d’infrastructure. Le Fonds détient généralement moins de 50 titres. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et d’investissement aligné sur les ODD, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut investir dans des Actions A chinoises via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Connect. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, d’autres valeurs mobilières, des liquidités et quasi-liquidités, des dépôts et des warrants. Le Fonds peut également utiliser des instruments dérivés à des fins de couverture et de gestion efficace du portefeuille. |
| Stratégie d’investissement | Approche d’investissement Le Fonds adopte une approche « bottom-up » de sélection des valeurs fondée sur l’analyse des fondamentaux des sociétés individuelles. Le rendement de l’action n’est pas l’élément essentiel de la sélection. Le Gestionnaire des Investissements cherche à créer un portefeuille diversifié exposé à un large éventail de pays et de secteurs. Des titres bénéficiant de différentes sources de croissance des dividendes sont sélectionnés afin de constituer un portefeuille à même de bien se comporter dans diverses conditions de marché. Le Gestionnaire des Investissements cherche à investir dans les sociétés qui comprennent bien toute l’importance d’une discipline capitalistique et ont le potentiel d’augmenter leurs dividendes sur le long terme. Selon le Gestionnaire des Investissements, la pression sur la valeur des actions s’accroît en cas de hausse des dividendes. Classification ESG du Gestionnaire des Investissements |

|  | Le Fonds est classé Planet+/ Durable. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Indice MSCI ACWI Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent allier croissance du capital et hausse des revenus dans un portefeuille d’actions diversifié qui investit dans des actions cotées en bourse émises par des sociétés d’infrastructure, des fonds de placement et des fiducies de placement immobilier (« FPI ») de toute capitalisation de marché domiciliée dans n’importe quel pays, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que les objectifs du Fonds seront atteints. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions, le Fonds versera des dividendes sur une base trimestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. |

- Risque lié à la variation du capital et du revenu
- Risques de change et de taux de change
- Risque lié aux portefeuilles concentrés
- Risque lié aux marchés émergents
- Chine
- Risque lié à une catégorie d’actifs, une région ou un secteur spécifique
- Risque lié aux petites entreprises
- Risque lié aux obligations convertibles
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,75 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,25 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| L | 0,50 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| LI | 0,50 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| N | jusqu’à 1,75 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| X | 1,75 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Global Listed Infrastructure Fund
Identifiant d’entité juridique : 
222100K85SU14IF7PW30

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 51 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à la réalisation d’investissements alignés sur les ODD (telles que définies ci-dessous):
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société et de l’aider à parvenir à des résultats plus durables (« Approche d’exclusion »).
Le Fonds considère les objectifs de développement durable (ODD) de l’ONU comme faisant partie de son processus d’investissement et les thèmes de durabilité pris en compte par le Gestionnaire d’investissement sont fondés sur les ODD en tant que cadre pertinent pour mesurer la contribution aux facteurs de durabilité
(« Alignement sur les ODD »). Au moins 70% des investissements du Fonds en valeur seront des investissements que le Gestionnaire d’investissement considère comme liés à des thèmes de durabilité.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants:
- Approche d’exclusion: Pourcentage (%) de la VL détenu dans des investissements exclus
- Alignement sur les ODD: Pourcentage (%) des investissements en valeur qui sont alignés sur les ODDQuels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?

Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durableComment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?

Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les considérations de durabilité, qui englobent les facteurs ESG, sont entièrement intégrées dans l’analyse et les décisions d’investissement, et elles jouent un rôle important dans la détermination de l’univers d’investissement et de la construction du portefeuille. Le Fonds considère les objectifs de développement durable (ODD) de l’ONU comme faisant partie de son processus d’investissement et les thèmes de durabilité pris en compte par le Gestionnaire d’investissement sont fondés sur les ODD en tant que cadre pertinent pour mesurer la contribution aux facteurs de durabilité (« Alignement sur les ODD »).
Ce faisant, le Gestionnaire d’investissement considère les sociétés bénéficiaires des investissements comme « liées à un thème de durabilité » si au moins 50% de leurs revenus sont alignés sur les ODD. Pour éviter toute ambigüité, cette appréciation peut inclure l’alignement sur plusieurs ODD dans le cadre d’un thème plus large. Au moins 70% des investissements du Fonds en valeur seront des investissements que le Gestionnaire d’investissement considère comme liés à des thèmes de durabilité. Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans la Politique d’investissement sont appliquées.
- Le Gestionnaire d’investissement identifie ensuite les sociétés qui sont jugées appropriées en vue d’analyses supplémentaires. Le Gestionnaire d’investissement analyse ces entreprises du point de vue de l’ESG à l’aide d’une évaluation de la qualité de l’infrastructure exclusive propre au secteur. Cela comprend une évaluation des facteurs ESG, ainsi que d’autres caractéristiques financières et opérationnelles. Suite à l’évaluation de la qualité liée aux critères ESG, le Gestionnaire d’investissement quantifie ensuite les risques ESG de ces sociétés, afin de déterminer si ces risques ont été pris en compte dans l’évaluation d’une société.
- À partir de cet univers d’investissement restreint, le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier? »; et
- Les niveaux minimaux d’investissements durables tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
20%
Même si tout engagement concernant le taux minimal visant à réduire la portée des investissements pris en compte avant l’application de la stratégie d’investissement en raison des exclusions du Fonds a vocation à être contraignant, tel que cela est déterminé en tenant compte des exclusions du Fonds servant de mesure de l’univers d’investissement (telle qu’un indice financier) échappant au contrôle du Gestionnaire d’investissement, et étant donné que des exclusions supplémentaires nécessiteront une mise à jour des documents du fonds, il est possible que le Fonds ne soit pas tenu d’honorer cet engagement pendant une durée limitée.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 51% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les instruments dérivés ne sont pas utilisés pour atteindre les caractéristiques environnementales et/ou sociales promues.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est indiqué ci-dessous.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum. Aucune garantie environnementale ou sociale minimale n’est appliquée aux instruments dérivés de devises.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues. Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Global Maxima Fund
| Date de lancement | 11 décembre 2019 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à fournir un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché d’actions internationales sur toute période de cinq ans. |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions de sociétés de tout secteur et de toute capitalisation de marché qui sont domiciliées dans n’importe quel pays, y compris les marchés émergents. Le Fonds peut investir dans des Actions A chinoises via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Connect, ou, à compter du 1erfévrier 2023, via le statut QFI accordé au Gestionnaire des Investissements. Le Fonds peut également investir dans d’autres valeurs mobilières, des liquidités et des quasi-liquidités, directement ou via des organismes de placement collectif (y compris des fonds gérés par M&G). Des instruments dérivés peuvent être utilisés à des fins de Gestion efficace de portefeuille et de couverture. |
| Stratégie d’investissement | Approche d’investissement Le Fonds adopte systématiquement une approche « bottom-up » de sélection des valeurs fondée sur une analyse quantitative des sociétés individuelles. Le Gestionnaire des Investissements utilise des analyses de données propriétaires et des techniques d’apprentissage automatique (machine learning) pour contribuer à identifier des titres qui devraient surperformer le marché d’actions mondial et par conséquent, optimiser la surperformance du Fonds. À partir de l’univers d’investissement du Fonds, chaque titre est évalué en fonction de sa probabilité de surperformance par rapport au marché d’actions mondial. Le Gestionnaire des Investissements utilise ensuite ces évaluations pour déterminer les titres à ajouter au portefeuille. Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Règlement SFDR Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. |

| Comparateur de performance | Indice MSCI ACWI Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Compartiment, car il reflète le mieux la portée de la politique d’investissement du Compartiment. L’indice de référence sert uniquement à mesurer la performance du Compartiment et ne limite pas la construction du portefeuille du Compartiment. Le Compartiment fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Compartiment peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| --- | --- |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et aux Investisseurs institutionnels qui souhaitent allier revenu et croissance du capital dans un portefeuille diversifié composé de titres de société du monde entier, mais qui savent que leur capital est exposé à un risque et que la valeur de leur investissement ainsi que tout revenu dérivé peuvent chuter aussi bien que grimper. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risques de change et de taux de change
- Risque lié aux portefeuilles concentrés
- Risque lié aux marchés émergents
- Chine
- Risque lié aux petites entreprises
- Risque de liquidité
- Risque de contrepartiePour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,75 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,25 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| E | 0,65 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| EI | 0,65 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,75 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | - | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Aucune Commission d’administration ne s’applique aux Catégories d’Actions Z et ZI. L’ensemble des commissions et charges allouées à ces Catégories sont prélevées de manière administrative et recueillies directement auprès de l’investisseur par la Société de gestion.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.

### M&G (Lux) Global Sustain Paris Aligned Fund
| Date de lancement | 9 novembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds a deux objectifs : - Objectif financier : générer un rendement total (croissance du capital plus revenus) supérieur à celui du marché mondial des actions sur toute période de cinq ans ; et
- Objectif durable : investir dans des entreprises qui contribuent à l’objectif de l’Accord de Paris sur le changement climatique.
 |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions de sociétés durables de tout secteur et de toute capitalisation de marché qui sont domiciliées dans n’importe quel pays, y compris sur les marchés émergents. Le Fonds possède un portefeuille concentré comportant en général moins de 40 sociétés. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et en atteignant un Résultat ESG positif, en plus de sa stratégie d’investissement durable utilisée dans le cadre de la réalisation de l’objectif d’investissement durable, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir indirectement via des fonds (c’est-à-dire des OPCVM et d’autres OPC, y compris des fonds gérés par M&G), et peut investir dans d’autres valeurs mobilières telles que des obligations à court terme et des instruments du marché monétaire à des fins de gestion de la liquidité, des liquidités et des quasi-liquidités. Le Fonds peut utiliser des instruments dérivés à des fins de gestion efficace du portefeuille et de couverture. |
| Stratégie d’investissement | Approche d’investissement Le Fonds est un fonds d’actions mondiales de base, qui investit à long terme dans des sociétés durables qui contribuent aux objectifs à long terme de l’Accord de Paris en matière de réchauffement climatique, en ayant une Intensité carbone faible et/ou en cours de réduction, tel qu’expliqué dans l’annexe précontractuelle au Supplément de ce Fonds. Ces sociétés doivent faire preuve de modèles d’entreprise durables positionnés de manière compétitive pour protéger leur rentabilité. Élément important, le Gestionnaire des Investissements investit dans des sociétés au sein desquelles des « difficultés » à court terme sont à l’origine d’une opportunité manifeste en termes de valorisation. Le Fonds adopte une approche « bottom-up » de sélection des valeurs fondée sur l’analyse fondamentale des sociétés individuelles. Selon le Gestionnaire des Investissements, cette approche constitue une combinaison attrayante, fournissant la valeur composée à long terme des sociétés de qualité, et permet de stimuler éventuellement le prix de l’action d’une société en cas de résolution d’un problème à court terme. Le Gestionnaire des Investissements sélectionne les actifs les plus appropriés pour constituer un portefeuille concentré et à forte conviction. Classification ESG du Gestionnaire des Investissements |

|  | Le Fonds est classé Planet+ / Durable. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 9 du Règlement SFDR, et des informations sur ses investissements durables figurent dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Indice MSCI World Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de l’objectif d’investissement du Fonds. L’indice de référence est également utilisé pour définir une société à Intensité carbone faible. Le Gestionnaire des Investissements prend en compte l’intensité carbone moyenne pondérée du Fonds par rapport à celle de l’indice de référence lors de la construction du portefeuille, bien que l’indice de référence ne limite pas autrement la construction du portefeuille du Fonds. Le Fonds est géré activement et, dans le cadre de contraintes données, le Gestionnaire des Investissements a la liberté de choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence et, par conséquent, la performance du Fonds peut s’écarter sensiblement de celle de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent allier revenus et croissance du capital à partir d’un portefeuille composé de titres de sociétés mondiales, qui contribuent à l’objectif de l’Accord de Paris en matière de changement climatique, et qui recherchent un fonds qui applique les Critères ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |

| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié aux marchés émergents
- Risques de change et de taux de change
- Risque lié aux portefeuilles concentrés
- Risque lié aux petites entreprises
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |
| --- | --- |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,75 % | 5,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,25 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,75 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 9, paragraphes 1 à 4a, du Règlement (UE) 2019/2088 et à l’article 5, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Global Sustain Paris Aligned Fund
Identifiant d’entité juridique : 
549300IT0OLV3HDN7Z63

#### Objectif d’investissement durable
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental : 80 %
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de
% d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quel est l’objectif d’investissement durable de ce produit financier ?
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Investir dans des sociétés qui contribuent à l’objectif de l’accord de Paris sur le changement climatique.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de l’objectif d’investissement durable de ce produit financier ?
Indicateurs de durabilité au niveau du Fonds:
- Pourcentage (%) de la VL engagé dans des objectifs fondés sur la science (SBT)
- Pourcentage (%) de la VL avec des objectifs fondés sur la science ratifiés
- Pourcentage (%) de la VL participant au rapport Task Force on Climate-Related Financial Disclosures (TCFD)
- Production totale d’énergies renouvelables (mégawattheures)
- L’intensité carbone moyenne pondérée (ICMP) du Fonds par rapport à l’ICMP de l’univers d’investissementIndicateurs de durabilité au niveau des titres:
- Émissions de carbone évitées – pour les sociétés qui apportent des solutions directes au défi climatique via leurs produits et servicesLes principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.

Dans quelle mesure les investissements durables ne causent-ils pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables.
- Les indicateurs des Principales incidences négatives considèrent comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité).
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Le Fonds investit dans des sociétés à faible intensité carbone et dans des sociétés réduisant leur intensité carbone.
Les sociétés à faible intensité carbone se caractérisent par une intensité carbone inférieure à 50% de l’intensité carbone moyenne pondérée de l’univers d’investissement du Fonds, et par un engagement continu en faveur de la décarbonisation.
Les sociétés réduisant leur intensité carbone se caractérisent par des objectifs fondés sur la science alignés sur l’accord de Paris ou se sont engagées à les mettre en place au cours d’une période définie, et par un engagement continu en faveur de la décarbonisation.
Le Fonds tient également compte de facteurs non obligatoires, comme la question de savoir si les sociétés apportent des solutions au défi du changement climatique.
Le Fonds aura généralement une intensité carbone moyenne pondérée inférieure à la moitié de celle de son univers d’investissement (« Résultat ESG positif »).
Les considérations de durabilité, qui englobent les facteurs ESG, sont entièrement intégrées dans l’analyse et les décisions d’investissement, et elles jouent un rôle important dans la détermination de l’univers d’investissement et de la construction du portefeuille.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement évalue ensuite les caractéristiques de durabilité des autres sociétés. Les investissements potentiels sont identifiés par rapport à leur intensité carbone et aux éventuelles solutions qu’ils apportent au défi du changement climatique. Le Gestionnaire d’investissement analyse ces sociétés à l’aide de recherches internes et externes, en combinant des méthodes qualitatives et quantitatives avec une évaluation des facteurs ESG pour établir une liste de surveillance des sociétés examinées afin de s’appuyer sur des modèles d’affaires durables.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds. Le Gestionnaire d’investissement privilégie les émetteurs présentant l’intensité carbone la plus faible lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus se traduit généralement par un portefeuille avec une intensité carbone inférieure à la moitié de celle de son univers d’investissement. Dans le cadre de la construction d’un portefeuille favorisant des investissements présentant une intensité carbone plus faible, le Gestionnaire d’investissement peut néanmoins investir sur tout l’éventail de l’intensité carbone. La méthodologie de calcul du Fonds ne comprend pas les titres qui ne disposent pas respectivement de données relatives à l’intensité carbone, ni les liquidités, ni les quasi-liquidités, ni certains instruments dérivés ni certains organismes de placement collectif.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements en vue d’atteindre l’objectif d’investissement durable ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- L’allocation des actifs du Fonds, telle qu’énoncée dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ». Veuillez noter que la part minimale des investissements durables dont l’objectif environnemental n’est pas aligné sur la taxonomie de l’UE n’est pas contraignante lorsqu’une détention est inférieure à ce minimum en raison du fait que des investissements alignés sur la taxonomie sont détenus à la place (dans la mesure où tous ces investissements sont des investissements durables avec des objectifs environnementaux).

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute des tests de bonne gouvernance quantitatifs basés sur les données dans sa prise en compte des investissements dans les sociétés. Le Gestionnaire d’investissement exclut les investissements dans des titres considérés comme ne satisfaisant pas aux tests de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs et la part minimale d’investissements durables ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement compte investir au moins 80% du Fonds dans des investissements durables sur le plan environnemental, afin de réaliser l’objectif d’investissement durable sur le plan environnemental.
Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable sur le plan environnemental.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Durables
#2 Non durables
Environnementaux
Alignés sur la taxinomie
Autres
La catégorie #1 Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
Les activités alignées sur la taxinomie sont exprimées en pourcentage :
- du chiffre d’affaires pourrefléter la part des revenus provenant des activités vertes des sociétés bénéficiaires des investissements.
- des dépenses d’investissement (CapEx)pour montrer les investissements verts réalisés par les sociétés bénéficiaires des investissements, pour une transition vers une économie verte par exemple.
- des dépenses d’exploitation(OpEx) pour refléter les activités opérationnelles vertes des sociétés bénéficiaires des investissements.

La catégorie #2 Non durables inclut les investissements qui ne sont pas considérés comme des investissements durables.
Comment l’utilisation de produits dérivés atteint-elle l’objectif d’investissement durable ?
Les instruments dérivés ne sont pas utilisés pour atteindre l’objectif d’investissement durable.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%,
le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
80%
Quelle est la part minimale d’investissements durables ayant un objectif social ?
0%
Quels sont les investissements inclus dans la catégorie « #2 Non durables », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à des fins de couverture ou en relation avec des liquidités détenues à des fins de liquidité accessoire. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est décrit ci-dessous.
Lorsque des instruments dérivés sont utilisés pour prendre une exposition à des indices financiers diversifiés, ceux-ci seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés sur l’objectif d’investissement durable, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour atteindre l’objectif d’investissement durable ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence tient-il compte des facteurs de durabilité afin d’être constamment aligné sur l’objectif d’investissement durable ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Global Themes Fund
| Date de lancement Objectif d’investissement | 19 mars 2019 Le Fonds vise à dégager un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché d’actions internationales sur toute période consécutive de cinq ans, en appliquant des Critères ESG. |
| --- | --- |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions et titres assimilés à des actions de sociétés de tout secteur et de toute capitalisation boursière qui sont domiciliées dans n’importe quel pays, y compris les marchés émergents. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et d’orientation positive ESG (« Positive ESG Tilt »), tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir indirectement via des fonds (c’est-à-dire des OPCVM et d’autres OPC, y compris des fonds gérés par M&G), et peut investir dans d’autres valeurs mobilières telles que des obligations à court terme et des instruments du marché monétaire à des fins de gestion de la liquidité, des liquidités et des quasi-liquidités. Le Fonds peut investir dans des Actions chinoises A via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Connect. Des instruments dérivés peuvent être utilisés à des fins de Gestion efficace de portefeuille et de couverture. |
| Stratégie d’investissement | Approche d’investissement L’approche d’investissement combine la recherche thématique et l’analyse fondamentale des sociétés. Le Gestionnaire des Investissements vise à identifier des thèmes à long terme induits par des tendances structurelles, et sélectionne des sociétés qui peuvent bénéficier de ces changements structurels. Le Gestionnaire des Investissements cherche à identifier les sociétés bien gérées dont les perspectives à long terme sont sous-évaluées par le marché. Le Fonds vise à être diversifié dans un large éventail de pays et de secteurs. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Indice MSCI ACWI Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. |

|  | Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence et, par conséquent, la performance du Fonds peut s’écarter sensiblement de celle de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| --- | --- |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent allier revenu et croissance du capital dans un portefeuille composé de titres de sociétés du monde entier, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que les objectifs du Fonds seront atteints. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risques de change et de taux de change
- Risque lié aux marchés émergents
- Chine
- Risque lié à une catégorie d’actifs, une région ou un secteur spécifique
- Risque lié aux petites entreprises
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,75 % | 5,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,25 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,75 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Global Themes Fund
Identifiant d’entité juridique : 
2549003Q1RX8JB20XW74

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une Orientation positive ESG (telles que définies ci- dessous):
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société (« Approche d’exclusion »).
Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Le Fonds maintient une notation ESG moyenne pondérée qui est soit:
- supérieure à celle du marché des actions tel que représenté par son univers d’investissement, soit
- équivalente à au moins une notation A de MSCI, selon la valeur la plus basse (« Orientation positive ESG »).

Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG.
Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants:
- Approche d’exclusion: Pourcentage (%) de la VL détenu dans des investissements exclus
- Orientation positive ESG: note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement ou par rapport à la note ESG correspondant à la valeur numérique la plus faible de la notation A de MSCI.

Quels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?
Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus devrait aboutir à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

Les Critères ESG du Fonds s’appliquent au moins à:
- 90% des actions émises par des sociétés à grande capitalisation dans des pays développés, des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit « investment grade », et des titres de créance souverains émis par des pays développés;
- 75% des actions émises par des sociétés à grande capitalisation dans des pays émergents, des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays, des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, et des titres de créance souverains émis par des pays des marchés émergents.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- L’Orientation positive ESG du Fonds;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
20%
Même si tout engagement concernant le taux minimal visant à réduire la portée des investissements pris en compte avant l’application de la stratégie d’investissement en raison des exclusions du Fonds a vocation à être contraignant, tel que cela est déterminé en tenant compte des exclusions du Fonds servant de mesure de l’univers d’investissement (telle qu’un indice financier) échappant au contrôle du Gestionnaire d’investissement, et étant donné que des exclusions supplémentaires nécessiteront une mise à jour des documents du fonds, il est possible que le Fonds ne soit pas tenu d’honorer cet engagement pendant une durée limitée.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les instruments dérivés ne sont pas utilisés pour atteindre les caractéristiques environnementales et/ou sociales promues.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est indiqué ci-dessous.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum. Aucune garantie environnementale ou sociale minimale n’est appliquée aux instruments dérivés de devises.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Japan Fund
| Date de lancement | 26 octobre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à dégager un rendement total (croissance du capital plus revenu) supérieur à celui du marché d’actions japonais sur toute période de cinq ans tout en appliquant les Critères ESG. |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions de sociétés domiciliées ou conduisant la majeure partie de leurs activités économiques au Japon. Le Fonds détient généralement moins de 50 titres. Le Gestionnaire des Investissements estime que des anomalies de valorisation peuvent se produire et se produisent bel et bien souvent, les facteurs psychologiques (tels que les biais comportementaux) pouvant en effet empêcher les investisseurs de toujours évaluer rationnellement les investissements. En conséquence, les prix sur le marché ne reflètent pas toujours les valeurs fondamentales. Le Gestionnaire des Investissements estime qu’il est possible de tirer systématiquement profit de ces biais comportementaux qui sont courants sur le marché d’actions japonais. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et d’orientation positive ESG (« Positive ESG Tilt »), tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts et des warrants. Le Fonds peut également utiliser des instruments dérivés à des fins de couverture et de gestion efficace du portefeuille. |
| Stratégie d’investissement | Approche d’investissement Le Gestionnaire des Investissements a pour objectif de tirer profit des anomalies de valorisation du marché en adoptant une approche d’investissement disciplinée à long terme. Le Fonds sélectionne un vaste univers d’investissement pour constituer une liste ciblée d’actions se négociant à des valorisations peu élevées par rapport à leurs niveaux historiques et au marché. Ces sociétés sont ensuite soumises à une analyse fondamentale disciplinée et rigoureuse. Notre analyse financière, qui nous permet de comprendre les revenus durables d’une société, nous offre un niveau de conviction élevé pour chacune des sociétés détenues par le Fonds. Le Gestionnaire des Investissements vise à constituer un portefeuille raisonnablement diversifié et s’attend à ce que la sélection des titres soit le principal moteur de la performance. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |

| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| --- | --- |
| Indice de référence | Indice MSCI Japan Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence et, par conséquent, la performance du Fonds peut s’écarter sensiblement de celle de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs individuels et institutionnels cherchant une croissance du capital et un revenu à long terme en investissant dans des titres japonais, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | JPY |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risques de change et de taux de change
- Risque lié aux portefeuilles concentrés
- Risque lié à une catégorie d’actifs, une région ou un secteur spécifique
- Risque lié aux petites entreprises
- Risque de liquidité
 |

- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section « Facteurs de risque ».

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,50 % | 5,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,00 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| L | 0,35 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| LI | 0,35 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| X | 1,50 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes »
qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Japan Fund
Identifiant d’entité juridique : 
549300OR1ZG2XAP7AU07

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une Orientation positive ESG (telles que définies ci- dessous):
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Le Fonds maintient une notation ESG moyenne pondérée qui est soit
- supérieure à celle du marché des actions tel que représenté par son univers d’investissement, soit
- équivalente à au moins une notation A de MSCI, selon la valeur la plus basse (« Orientation positive ESG »)Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.

Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants:
- Approche d’exclusion: Pourcentage (%) de la VL détenu dans des investissements exclus
- Orientation positive ESG: note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement ou par rapport à la note ESG correspondant à la valeur numérique la plus faible de la notation A de MSCI.

Quels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?
Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus devrait aboutir à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

Les Critères ESG du Fonds s’appliquent au moins à:
- 90% des actions émises par des sociétés à grande capitalisation dans des pays développés, des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit « investment grade », et des titres de créance souverains émis par des pays développés ;
- 75% des actions émises par des sociétés à grande capitalisation dans des pays émergents, des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays, des titres de créance, desinstruments du marché monétaire ayant des notations de crédit à haut rendement, et des titres de créance souverains émis par des pays des marchés émergents.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- L’Orientation positive ESG du Fonds;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Niveaux minimaux d’investissements durables tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.

Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0%
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement.
Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les instruments dérivés ne sont pas utilisés pour atteindre les caractéristiques environnementales et/ou sociales promues.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est indiqué ci-dessous.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum. Aucune garantie environnementale ou sociale minimale n’est appliquée aux instruments dérivés de devises.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Japan Smaller Companies Fund
| Date de lancement | 26 octobre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à dégager un rendement total (combinaison de la croissance du capital et du revenu) supérieur au cours du marché d’actions de petites sociétés japonaises sur toute période de cinq ans en appliquant des Critères ESG. |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans les titres de participation de petites sociétés enregistrées ou domiciliées au Japon, ou dont la plupart des activités économiques se déroulent dans ce pays. Les petites sociétés sont définies comme figurant dans la moitié inférieure en termes de capitalisation boursière totale de l’ensemble des sociétés cotées en bourse au Japon. Le Compartiment détient généralement un portefeuille concentré composé de moins de 50 sociétés. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et d’orientation positive ESG (« Positive ESG Tilt »), tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir dans d’autres valeurs mobilières, des liquidités et des quasi-liquidités, directement ou via des organismes de placement collectif (y compris des fonds gérés par M&G). Des instruments dérivés peuvent être utilisés à des fins de Gestion efficace de portefeuille et de couverture. |
| Stratégie d’investissement | Approche d’investissement Le Compartiment adopte une approche disciplinée en matière d’investissement, qui repose sur l’analyse et la sélection de sociétés particulières. L’approche d’investissement consiste à effectuer une sélection parmi le large univers d’investissement du Compartiment afin de constituer une liste de sociétés ciblée dont les actions présentent une décote par rapport à leurs propres niveaux historiques et au marché. Ces sociétés font ensuite l’objet d’une analyse rigoureuse des fondamentaux afin de pouvoir appréhender les bénéfices durables d’une société. Cette analyse des fondamentaux nous permet de nous forger une forte conviction à l’égard de chacune des sociétés détenues par le Fonds. Le Gestionnaire des Investissements s’attend à ce que la sélection des titres soit le principal moteur de la performance. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |

| dans le secteur des services financiers |  |
| --- | --- |
| Indice de référence | Indice Russell/Nomura Mid-Small Cap Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence et, par conséquent, la performance du Fonds peut s’écarter sensiblement de celle de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent obtenir une croissance du capital et du revenu à long terme par le biais d’investissements dans des titres japonais à plus petite capitalisation, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | JPY |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risques de change et de taux de change
- Risque lié aux portefeuilles concentrés
- Risque lié à une catégorie d’actifs, une région ou un secteur spécifique
- Risque lié aux petites entreprises
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,50 % | 5,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,00 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| X | 1,50 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue .
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Japan Smaller Companies Fund
Identifiant d’entité juridique : 
549300QUHQWF3GEVSU46

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une Orientation positive ESG (telles que définies ci- dessous) :
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Le Fonds maintient une notation ESG moyenne pondérée qui est soit
- supérieure à celle du marché des actions tel que représenté par son univers d’investissement, soit
- équivalente à au moins une notation A de MSCI, selon la valeur la plus basse (« Orientation positive ESG »).

Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants :
- Approche d’exclusion : Pourcentage (%) de la VL détenu dans des investissements exclus
- Orientation positive ESG : note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement ou par rapport à la note ESG correspondant à la valeur numérique la plus faible de la notation A de MSCI.

Quels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?
Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment :
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit :
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus devrait aboutir à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

Les Critères ESG du Fonds s’appliquent au moins à :
- 90 % des actions émises par des sociétés à grande capitalisation dans des pays développés, des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit « investment grade », et des titres de créance souverains émis par des pays développés ;
- 75 % des actions émises par des sociétés à grande capitalisation dans des pays émergents, des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays, des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, et des titres de créance souverains émis par des pays des marchés émergents.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds :
- Les exclusions du Fonds ;
- L’Orientation positive ESG du Fonds ;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? » ; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0 %
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70 % du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20 % du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les instruments dérivés ne sont pas utilisés pour atteindre les caractéristiques environnementales et/ou sociales promues.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0 %
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0 %, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0 %
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5 %
Quelle est la part minimale d’investissements socialement durables ?
5 %
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est indiqué ci-dessous.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum. Aucune garantie environnementale ou sociale minimale n’est appliquée aux instruments dérivés de devises.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) North American Dividend Fund
| Date de lancement | 9 novembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Compartiment a deux objectifs : - générer un rendement total (croissance du capital plus revenu) supérieur à celui du marché d’actions américain sur toute période de cinq ans tout en appliquant les Critères ESG ; et
- générer un flux de revenu en dollars américains qui augmente chaque année.
 |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions de sociétés de tout secteur et de toute capitalisation de marché domiciliées ou conduisant la majeure partie de leurs activités économiques aux États-Unis et au Canada. Le Fonds détient généralement moins de 50 titres. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et d’orientation positive ESG (« Positive ESG Tilt »), tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts et des warrants. Le Fonds peut également utiliser des instruments dérivés à des fins de couverture et de gestion efficace du portefeuille. |
| Stratégie d’investissement | Le Fonds adopte une approche « bottom-up » de sélection des valeurs fondée sur l’analyse fondamentale des sociétés individuelles. Le rendement de l’action n’est pas l’élément essentiel de la sélection. Le Gestionnaire des Investissements cherche à créer un portefeuille diversifié exposé à un large éventail de secteurs. Des titres bénéficiant de différentes sources de croissance des dividendes sont sélectionnés afin de constituer un portefeuille à même de bien se comporter dans diverses conditions de marché. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Indice S&P 500 Net Total Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. |

|  | Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence et, par conséquent, la performance du Fonds peut s’écarter sensiblement de celle de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| --- | --- |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent allier hausse des revenus et croissance du capital dans un portefeuille d’actions diversifié composé de titres de sociétés nord-américaines, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change visent à réduire l’exposition des détenteurs de Catégories d’Actions couvertes aux fluctuations des principales devises au sein du portefeuille du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié à une catégorie d’actifs, une région ou un secteur spécifique
- Risque lié aux portefeuilles concentrés
- Risques de change et de taux de change
- Risque lié aux petites entreprises
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,50 % | 5,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,00 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |

| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | Jusqu’à 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | Jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,50 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) North American Dividend Fund
Identifiant d’entité juridique : 
5493009NGVBL2IPQZP65

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une Orientation positive ESG (telles que définies ci- dessous) :
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Le Fonds maintient une notation ESG moyenne pondérée qui est soit
- supérieure à celle du marché des actions tel que représenté par son univers d’investissement, soit
- équivalente à au moins une notation A de MSCI, selon la valeur la plus basse (« Orientation positive ESG »).

Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants :
- Approche d’exclusion : Pourcentage (%) de la VL détenu dans des investissements exclus
- Orientation positive ESG : note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement ou par rapport à la note ESG correspondant à la valeur numérique la plus faible de la notation A de MSCI.

Quels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?
Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment :
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit :
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus devrait aboutir à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

Les Critères ESG du Fonds s’appliquent au moins à :
- 90 % des actions émises par des sociétés à grande capitalisation dans des pays développés, des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit « investment grade », et des titres de créance souverains émis par des pays développés ;
- 75 % des actions émises par des sociétés à grande capitalisation dans des pays émergents, des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays, des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, et des titres de créance souverains émis par des pays des marchés émergents.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds :
- Les exclusions du Fonds ;
- L’Orientation positive ESG du Fonds ;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? » ; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0 %
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70 % du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20 % du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les instruments dérivés ne sont pas utilisés pour atteindre les caractéristiques environnementales et/ou sociales promues.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0 %
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0 %, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0 %
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5 %
Quelle est la part minimale d’investissements socialement durables ?
5 %
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est indiqué ci-dessous.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum. Aucune garantie environnementale ou sociale minimale n’est appliquée aux instruments dérivés de devises.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) North American Value Fund
| Date de lancement | 9 novembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à dégager un rendement total (croissance du capital plus revenu) supérieur à celui du marché d’actions américain sur toute période de cinq ans tout en appliquant les Critères ESG. |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions de sociétés de tout secteur et de toute capitalisation de marché domiciliées ou conduisant la majeure partie de leurs activités économiques aux États-Unis et au Canada. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et d’orientation positive ESG (« Positive ESG Tilt »), tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts et des warrants. Le Fonds peut également utiliser des instruments dérivés à des fins de couverture et de gestion efficace du portefeuille. |
| Stratégie d’investissement | Approche d’investissement Le Fonds adopte une approche « bottom-up » de sélection des valeurs afin d’identifier les actions de sociétés nord-américaines qui selon le Gestionnaire des Investissements sont sous-évaluées. Le Gestionnaire des Investissements cherche à identifier les sociétés mal évaluées, tout en essayant d’éviter les sociétés dont la mauvaise valorisation est justifiée et dont le prix des actions continuerait certainement d’évoluer à la baisse avec le temps. L’approche du Fonds combine une sélection précise axée sur la valeur et une analyse qualitative rigoureuse afin de s’assurer que le Fonds dispose d’un biais de valeur cohérent et rigoureux, sans compromettre la solidité des sociétés dans le portefeuille. Le principal facteur de rendement devrait être le style axé sur la valeur et la sélection de titres globale plutôt que tout secteur ou titre individuel. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Indice S&P 500 Net Total Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert |

|  | uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence et, par conséquent, la performance du Fonds peut s’écarter sensiblement de celle de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| --- | --- |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels cherchant une croissance du capital et un revenu à long terme dans un portefeuille d’actions diversifié composé de titres de sociétés nord-américaines, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change cherchent à réduire l’exposition des détenteurs de Catégories d’Actions couvertes aux fluctuations des principales devises au sein du portefeuille du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié à une catégorie d’actifs, une région ou un secteur spécifique
- Risques de change et de taux de change
- Risque lié aux petites entreprises
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,50 % | 5,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,00 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,50 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue .
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) North American Value Fund
Identifiant d’entité juridique : 
549300JHS93E10IP4365

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une Orientation positive ESG (telles que définies ci- dessous) :
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société (« Approche d’exclusion »).
Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Le Fonds maintient une notation ESG moyenne pondérée qui est soit
- supérieure à celle du marché des actions tel que représenté par son univers d’investissement, soit
- équivalente à au moins une notation A de MSCI, selon la valeur la plus basse (« Orientation positive ESG »).

Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants :
- Approche d’exclusion : Pourcentage (%) de la VL détenu dans des investissements exclus
- Orientation positive ESG : note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement ou par rapport à la note ESG correspondant à la valeur numérique la plus faible de la notation A de MSCI.

Quels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?
Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment :
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds. Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit :
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus devrait aboutir à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

Les Critères ESG du Fonds s’appliquent au moins à :
- 90 % des actions émises par des sociétés à grande capitalisation dans des pays développés, des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit « investment grade », et des titres de créance souverains émis par des pays développés ;
- 75 % des actions émises par des sociétés à grande capitalisation dans des pays émergents, des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays, des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, et des titres de créance souverains émis par des pays des marchés émergents.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds :
- Les exclusions du Fonds ;
- L’Orientation positive ESG du Fonds ;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? » ; et
- Niveaux minimaux d’investissements durables tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.

Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0 %
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement.
Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70 % du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20 % du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les instruments dérivés ne sont pas utilisés pour atteindre les caractéristiques environnementales et/ou sociales promues.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0 %
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0 %, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0 %
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5 %
Quelle est la part minimale d’investissements socialement durables ?
5 %
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est indiqué ci-dessous.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum. Aucune garantie environnementale ou sociale minimale n’est appliquée aux instruments dérivés de devises.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Pan European Sustain Paris Aligned Fund
| Date de lancement | 9 novembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds a deux objectifs : - Objectif financier : générer un rendement total (croissance du capital plus revenus) supérieur à celui du marché européen des actions sur toute période de cinq ans ; et
- Objectif durable : investir dans des entreprises qui contribuent à l’objectif de l’Accord de Paris sur le changement climatique.
 |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions de sociétés durables de tout secteur et de toute capitalisation de marché domiciliées ou conduisant la majeure partie de leurs activités économiques en Europe. Le Fonds possède un portefeuille concentré comportant en général moins de 35 sociétés. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et en atteignant un Résultat ESG positif, en plus de sa stratégie d’investissement durable utilisée dans le cadre de la réalisation de l’objectif d’investissement durable, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir indirectement via des fonds (c’est-à-dire des OPCVM et d’autres OPC, y compris des fonds gérés par M&G), et peut investir dans d’autres valeurs mobilières telles que des obligations à court terme et des instruments du marché monétaire à des fins de gestion de la liquidité, des liquidités et des quasi-liquidités. Le Fonds peut utiliser des instruments dérivés à des fins de gestion efficace du portefeuille et de couverture. |
| Stratégie d’investissement | Approche d’investissement Le Fonds est un fonds d’actions européennes, qui investit à long terme dans des sociétés durables qui contribuent aux objectifs à long terme de l’Accord de Paris en matière de réchauffement climatique, en ayant une Intensité carbone faible et/ou en cours de réduction, tel qu’expliqué dans l’annexe précontractuelle au Supplément de ce Fonds. Ces sociétés doivent faire preuve de modèles d’entreprise durables positionnés de manière compétitive pour protéger leur rentabilité. Élément important, le Gestionnaire des Investissements investit dans des sociétés au sein desquelles des « difficultés » à court terme sont à l’origine d’une opportunité manifeste en termes de valorisation. Le Fonds adopte une approche « bottom-up » de sélection des valeurs fondée sur l’analyse fondamentale des sociétés individuelles. Selon le Gestionnaire des Investissements, cette approche constitue une combinaison attrayante, fournissant la valeur composée à long terme des sociétés de qualité, et permet de stimuler éventuellement le prix de l’action d’une société en cas de résolution d’un problème à court terme. Le Gestionnaire des Investissements sélectionne les actifs les plus appropriés pour constituer un portefeuille concentré et à forte conviction. |

|  | Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / Durable La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 9 du Règlement SFDR, et des informations sur ses investissements durables figurent dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Indice MSCI Europe Net Return L’indice de référence est un comparateur à l’aune duquel le rendement total du Fonds peut être mesuré. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux l’objectif financier du Fonds. L’indice de référence est également utilisé pour définir une société à Intensité carbone faible. Le Gestionnaire des Investissements prend en compte l’intensité carbone moyenne pondérée du Fonds par rapport à celle de l’indice de référence lors de la construction du portefeuille, bien que l’indice de référence ne limite pas autrement la construction du portefeuille du Fonds. Le Fonds est géré activement et, dans le cadre de contraintes données, le Gestionnaire des Investissements a la liberté de choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence et, par conséquent, la performance du Fonds peut s’écarter sensiblement de celle de l’indice de référence. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent allier revenus et croissance du capital à partir d’un portefeuille composé de titres de sociétés européennes, qui contribuent à l’objectif de l’Accord de Paris sur le changement climatique, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | EUR |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base semestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. |

- Risque lié à la variation du capital et du revenu
- Risque lié à une catégorie d’actifs, une région ou un secteur spécifique
- Risque lié aux portefeuilles concentrés
- Risques de change et de taux de change
- Risque lié aux petites entreprises
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,50 % | 5,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,00 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,50 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 9, paragraphes 1 à 4a, du Règlement (UE) 2019/2088 et à l’article 5, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Pan European Sustain Paris Aligned Fund
Identifiant d’entité juridique : 
549300P77Z28WJUYV459

#### Objectif d’investissement durable
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental : 80 %
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de
% d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quel est l’objectif d’investissement durable de ce produit financier ?
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Investir dans des sociétés qui contribuent à l’objectif de l’accord de Paris sur le changement climatique.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de l’objectif d’investissement durable de ce produit financier ?
Indicateurs de durabilité au niveau du Fonds:
- Pourcentage (%) de la VL engagé dans des objectifs fondés sur la science (SBT)
- Pourcentage (%) de la VL avec des objectifs fondés sur la science ratifiés
- Pourcentage (%) de la VL participant au rapport Task Force on Climate-Related Financial Disclosures (TCFD)
- Production totale d’énergies renouvelables (mégawattheures)
- L’intensité carbone moyenne pondérée (ICMP) du Fonds par rapport à l’ICMP de l’univers d’investissementIndicateurs de durabilité au niveau des titres:
- Émissions de carbone évitées – pour les sociétés qui apportent des solutions directes au défi climatique via leurs produits et servicesLes principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.

Dans quelle mesure les investissements durables ne causent-ils pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables.
- Les indicateurs des Principales incidences négatives considèrent comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité).
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds. Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Le Fonds investit dans des sociétés à faible intensité carbone et dans des sociétés réduisant leur intensité carbone.
Les sociétés à faible intensité carbone se caractérisent par une intensité carbone inférieure à 50% de l’intensité carbone moyenne pondérée de l’univers d’investissement du Fonds, et par un engagement continu en faveur de la décarbonisation.
Les sociétés réduisant leur intensité carbone se caractérisent par des objectifs fondés sur la science alignés sur l’accord de Paris ou se sont engagées à les mettre en place au cours d’une période définie, et par un engagement continu en faveur de la décarbonisation.
Le Fonds tient également compte de facteurs non obligatoires, comme la question de savoir si les sociétés apportent des solutions au défi du changement climatique.
Le Fonds aura généralement une intensité carbone moyenne pondérée inférieure à la moitié de celle de son univers d’investissement (« Résultat ESG positif »).
Les considérations de durabilité, qui englobent les facteurs ESG, sont entièrement intégrées dans l’analyse et les décisions d’investissement, et elles jouent un rôle important dans la détermination de l’univers d’investissement et de la construction du portefeuille.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement évalue ensuite les caractéristiques de durabilité des autres sociétés. Les investissements potentiels sont identifiés par rapport à leur intensité carbone et aux éventuelles solutions qu’ils apportent au défi du changement climatique. Le Gestionnaire d’investissement analyse ces sociétés à l’aide de recherches internes et externes, en combinant des méthodes qualitatives et quantitatives avec une évaluation des facteurs ESG pour établir une liste de surveillance des sociétés examinées afin de s’appuyer sur des modèles d’affaires durables.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds. Le Gestionnaire d’investissement privilégie les émetteurs présentant l’intensité carbone la plus faible lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus se traduit généralement par un portefeuille avec une intensité carbone inférieure à la moitié de celle de son univers d’investissement. Dans le cadre de la construction d’un portefeuille favorisant des investissements présentant une intensité carbone plus faible, le Gestionnaire d’investissement peut néanmoins investir sur tout l’éventail de l’intensité carbone. La méthodologie de calcul du Fonds ne comprend pas les titres qui ne disposent pas respectivement de données relatives à l’intensité carbone, ni les liquidités, ni les quasi-liquidités, ni certains instruments dérivés ni certains organismes de placement collectif.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements en vue d’atteindre l’objectif d’investissement durable ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- L’allocation des actifs du Fonds, telle qu’énoncée dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier? ». Veuillez noter que la part minimale des investissements durables dont l’objectif environnemental n’est pas aligné sur la taxonomie de l’UE n’est pas contraignante lorsqu’une détention est inférieure à ce minimum en raison du fait que des investissements alignés sur la taxonomie sont détenus à la place (dans la mesure où tous ces investissements sont des investissements durables avec des objectifs environnementaux).

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute des tests de bonne gouvernance quantitatifs basés sur les données dans sa prise en compte des investissements dans les sociétés. Le Gestionnaire d’investissement exclut les investissements dans des titres considérés comme ne satisfaisant pas aux tests de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs et la part minimale d’investissements durables ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement compte investir au moins 80% du Fonds dans des investissements durables sur le plan environnemental, afin de réaliser l’objectif d’investissement durable sur le plan environnemental.
Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable sur le plan environnemental.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Durables
#2 Non durables
Environnementaux
Alignés sur la taxinomie
Autres
La catégorie #1 Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
Les activités alignées sur la taxinomie sont exprimées en pourcentage :
- du chiffre d’affaires pourrefléter la part des revenus provenant des activités vertes des sociétés bénéficiaires des investissements.
- des dépenses d’investissement (CapEx)pour montrer les investissements verts réalisés par les sociétés bénéficiaires des investissements, pour une transition vers une économie verte par exemple.
- des dépenses d’exploitation(OpEx) pour refléter les activités opérationnelles vertes des sociétés bénéficiaires des investissements.

La catégorie #2 Non durables inclut les investissements qui ne sont pas considérés comme des investissements durables.
Comment l’utilisation de produits dérivés atteint-elle l’objectif d’investissement durable ?
Les instruments dérivés ne sont pas utilisés pour atteindre l’objectif d’investissement durable.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%,
le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
80%
Quelle est la part minimale d’investissements durables ayant un objectif social ?
0%
Quels sont les investissements inclus dans la catégorie « #2 Non durables », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à des fins de couverture ou en relation avec des liquidités détenues à des fins de liquidité accessoire. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est décrit ci-dessous.
Lorsque des instruments dérivés sont utilisés pour prendre une exposition à des indices financiers diversifiés, ceux-ci seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés sur l’objectif d’investissement durable, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour atteindre l’objectif d’investissement durable ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence tient-il compte des facteurs de durabilité afin d’être constamment aligné sur l’objectif d’investissement durable ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Positive Impact Fund
| Date de lancement | 29 novembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Compartiment a deux objectifs : - Objectif financier : générer un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui des marchés d’actions internationaux sur toute période de cinq ans ; et
- Objectif d’impact : investir dans des entreprises ayant une incidence sociale positive en relevant les grands défis sociaux et/ou environnementaux du monde.
 |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des actions de sociétés de tout secteur et de toute capitalisation de marché qui sont domiciliées dans n’importe quel pays, y compris les marchés émergents. Le Compartiment possède un portefeuille concentré et détient généralement moins de 40 actions. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion, en plus de sa stratégie d’investissement durable utilisée dans le cadre de la réalisation de l’objectif d’investissement durable, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut investir dans des Actions A chinoises via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Connect. Le Fonds peut également investir dans d’autres valeurs mobilières, des liquidités et des quasi-liquidités, directement ou via des organismes de placement collectif (y compris des fonds gérés par M&G). Des instruments dérivés peuvent être utilisés à des fins de Gestion efficace de portefeuille et de couverture. |
| Stratégie d’investissement | Approche d’investissement Le Fonds est un portefeuille concentré d’actions mondiales, investissant sur le long terme dans des sociétés produisant une incidence sociale et/ou environnementale positive, de même qu’un rendement financier, grâce à un processus de sélection de titres discipliné. Le Gestionnaire des Investissements sélectionne les actifs les plus appropriés dans la liste de surveillance afin de construire un portefeuille à forte conviction, issu de divers secteurs d’impact, tel qu’expliqué dans l’annexe précontractuelle au Supplément de ce Fonds. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / Impact. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 9 du Règlement SFDR, et des informations sur ses investissements durables figurent dans l’annexe précontractuelle au Supplément de ce Fonds. |

| Indice de référence | Indice MSCI ACWI Net Return L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux l’objectif financier du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| --- | --- |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels à la recherche d’une combinaison de la croissance du capital et du revenu en investissant dans un portefeuille d’actions de sociétés situées dans n’importe quelle partie du monde et qui ont pour objectif de produire une incidence sociale positive, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que les objectifs du Fonds seront atteints. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié aux portefeuilles concentrés
- Risque lié aux marchés émergents
- Chine
- Risque lié aux petites entreprises
- Risques de change et de taux de change
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,75 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,25 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| L | 0,30 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| LI | 0,30 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| N | jusqu’à 1,75 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| X | 1,75 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 9, paragraphes 1 à 4a, du Règlement (UE) 2019/2088 et à l’article 5, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Positive Impact Fund
Identifiant d’entité juridique : 
549300XGF5HHUXGRO059

#### Objectif d’investissement durable
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental : 30 %
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social : 30 %
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de
% d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quel est l’objectif d’investissement durable de ce produit financier ?
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Investir dans des entreprises ayant un impact social positif en relevant les grands défis sociaux et/ou environnementaux du monde.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de l’objectif d’investissement durable de ce produit financier ?
Indicateurs de durabilité au niveau du Fonds:
- Intensité carbone moyenne pondérée (ICMP)
- Pourcentage (%) de la VL engagé dans des objectifs fondés sur la science (SBT)
- Pourcentage (%) de la VL avec des objectifs fondés sur la science ratifiés
- Pourcentage (%) d’émissions de CO2 avec des objectifs fondés sur la science
- Pourcentage (%) de la VL participant au rapport Task Force on Climate-Related Financial Disclosures (TCFD)
- Pourcentage (%) de la VL dans des sociétés fournissant des solutions climatiques
- Pourcentage (%) de la VL dans des sociétés fournissant des solutions pour l’économie circulaire
- Pourcentage (%) de la VL dans des investissements fournissant des solutions environnementales
- Pourcentage (%) d’actifs à impact positif au sein du Fonds
- Pourcentage (%) de la VL aligné sur l’un des 17 Objectifs de développement durable des Nations unies (« ODD »), qui comprennent une gamme d’objectifs environnementaux et sociaux.

En outre, pour chaque investissement considéré comme aligné sur les ODD, le Gestionnaire d’investissement évaluera la force de la contribution aux ODD concernés.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Dans quelle mesure les investissements durables ne causent-ils pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables.
- Les indicateurs des Principales incidences négatives considèrent comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité).
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds. Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Le Fonds investit dans des sociétés qui fournissent des solutions pour relever certains des principaux défis sociaux et/ou environnementaux du monde.
Il s’agit de sociétés qui, en se référant au cadre des Objectifs de développement durable des Nations unies, sont axées sur les objectifs de développement durable tels que Pas de pauvreté, Faim « zéro », Bonne santé et bien-être, Éducation de qualité, Égalité entre les sexes, Eau propre et assainissement, Énergie propre et d’un coût abordable, Travail décent et croissance économique, Industrie, innovation et infrastructures, Inégalités réduites, Villes et communautés durables, Consommation et production responsables, Mesures relatives à la lutte contre les changements climatiques, Vie aquatique, Vie terrestre, Paix, justice et institutions efficaces et Partenariats pour la réalisation des objectifs, ainsi que d’autres sociétés dans lesquelles le Gestionnaire d’investissement estime qu’il est approprié d’investir pour atteindre l’objectif d’impact. Ces sociétés sont évaluées selon la méthodologie d’évaluation d’impact du Gestionnaire d’investissement (« Méthodologie d’impact ») décrite ci-dessous.
La Méthodologie d’impact est axée sur trois critères:
- Caractéristiques des investissements: la qualité et la pérennité du modèle d’affaires de la société et sa capacité à générer des rendements économiques durables;
- Intention: l’objectif de la société tel que le démontre l’harmonisation de son énoncé de mission avec ses actions et sa stratégie d’entreprise; et
- Impact: l’ampleur de l’impact sociétal net positif et les progrès de l’entreprise dans la résolution des problèmes d’égalité sociale.

Les résultats de la Méthodologie d’impact permettent au Fonds d’être alloué aux trois types d’investissement suivants:
- Les « pionniers », dont les produits ou services ont ou pourraient avoir un effet transformationnel sur l’égalité sociale.
- Les « facilitateurs », qui fournissent aux autres les outils nécessaires pour favoriser l’égalité sociale.
- Les « leaders », qui sont à la tête du développement durable dans les secteurs qui valorisent l’égalité sociale, mais qui peuvent avoir une rentabilité plus établie que les pionniers.

L’engagement du Gestionnaire d’investissement auprès des sociétés dans lesquelles le Fonds investit est fondamental pour l’approche d’investissement.
Les considérations de durabilité, qui englobent les facteurs ESG, sont entièrement intégrées dans l’analyse et les décisions d’investissement, et elles jouent un rôle important dans la détermination de l’univers d’investissement et de la construction du portefeuille.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement évalue ensuite les caractéristiques de durabilité des autres sociétés. Les investissements potentiels sont identifiés en se référant aux ODD concernés et évalués selon la Méthodologie d’impact.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements en vue d’atteindre l’objectif d’investissement durable ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- L’allocation des actifs du Fonds, telle qu’énoncée dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ». Veuillez noter que la part minimale des investissements durables dont l’objectif environnemental n’est pas aligné sur la taxonomie de l’UE n’est pas contraignante lorsqu’une détention est inférieure à ce minimum en raison du fait que des investissements alignés sur la taxonomie sont détenus à la place (dans la mesure où tous ces investissements sont des investissements durables avec des objectifs environnementaux).

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute des tests de bonne gouvernance quantitatifs basés sur les données dans sa prise en compte des investissements dans les sociétés. Le Gestionnaire d’investissement exclut les investissements dans des titres considérés comme ne satisfaisant pas aux tests de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs et la part minimale d’investissements durables ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement compte investir au moins 80% du Fonds dans des investissements durables, afin de réaliser l’objectif d’investissement durable. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Fonds investira au moins 30% dans des investissements durables avec un objectif social et au moins 30% dans des investissements durables avec un objectif environnemental qui ne sont pas alignés sur la taxonomie de l’UE. Sous réserve de ces niveaux planchers, le Fonds peut investir de manière flexible entre les différents types d’investissements durables en fonction de la disponibilité et de l’attractivité des opportunités d’investissement, tout en maintenant l’allocation globale aux investissements durables ayant des objectifs environnementaux et/ou sociaux à un minimum de 80%.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Durables
#2 Non durables
Environnementaux
Sociaux
Alignés sur la taxinomie
Autres
La catégorie #1 Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
Les activités alignées sur la taxinomie sont exprimées en pourcentage :
- du chiffre d’affaires pourrefléter la part des revenus provenant des activités vertes des sociétés bénéficiaires des investissements.
- des dépenses d’investissement (CapEx)pour montrer les investissements verts réalisés par les sociétés bénéficiaires des investissements, pour une transition vers une économie verte par exemple.
- des dépenses d’exploitation(OpEx) pour refléter les activités opérationnelles vertes des sociétés bénéficiaires des investissements.

La catégorie #2 Non durables inclut les investissements qui ne sont pas considérés comme des investissements durables.
Comment l’utilisation de produits dérivés atteint-elle l’objectif d’investissement durable ?
Les instruments dérivés ne sont pas utilisés pour atteindre l’objectif d’investissement durable.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
30%
Quelle est la part minimale d’investissements durables ayant un objectif social ?
30%
Quels sont les investissements inclus dans la catégorie « #2 Non durables », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à des fins de couverture ou en relation avec des liquidités détenues à des fins de liquidité accessoire. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est décrit ci-dessous.
Lorsque des instruments dérivés sont utilisés pour prendre une exposition à des indices financiers diversifiés, ceux-ci seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés sur l’objectif d’investissement durable, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour atteindre l’objectif d’investissement durable ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence tient-il compte des facteurs de durabilité afin d’être constamment aligné sur l’objectif d’investissement durable ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

## Fonds convertibles

### M&G (Lux) Global Convertibles Fund
| Date de lancement | 9 novembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à dégager un rendement total (croissance du capital plus revenu) supérieur à celui du marché international des obligations convertibles sur toute période de cinq ans tout en appliquant les Critères ESG. |
| Politique d’investissement | Le Fonds investit au moins 70 % de sa Valeur liquidative dans des titres convertibles libellés dans n’importe quelle devise. Les émetteurs de ces titres peuvent être établis dans un quelconque pays, y compris sur les marchés émergents. L’exposition à ces titres peut être réalisée, directement ou indirectement, par le biais de différentes combinaisons d’obligations de sociétés, d’actions et d’instruments dérivés. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et d’orientation positive ESG (« Positive ESG Tilt »), tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également détenir jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels. Des instruments dérivés pourront être utilisés pour atteindre l’objectif d’investissement du Fonds, ainsi qu’à des fins de gestion efficace du portefeuille et de couverture. Ces instruments peuvent inclure, sans limitation, des contrats au comptant, des contrats à terme négocié de gré à gré, des contrats à terme négociés en bourse, des options et des swaps de défaut de crédit. Le Fonds peut également investir dans d’autres actifs, dont des titres de créance, des actions, des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts et des warrants. |
| Stratégie d’investissement | Approche d’investissement L’attention du Gestionnaire des Investissements se porte sur les obligations convertibles qui, de son point de vue, offrent les meilleures caractéristiques de risque/rendement. Pour ces titres convertibles, les gains potentiels de l’option sur le prix des actions dépassent la perte potentielle du prix des actions replongeant à la valeur de l’obligation. Le risque est également géré en réduisant la perte potentielle que pourrait subir le titre convertible si le prix des actions de la société et la valeur de l’option intégrée ont fortement diminué. Afin de bénéficier de la protection contre les risques de perte de l’Obligation convertible, la qualité du crédit de la société est également analysée et surveillée. Le Gestionnaire des Investissements n’a aucune directive ou limite géographique précise reposant sur des perspectives macroéconomiques ou sectorielles. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |

| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| --- | --- |
| Indice de référence | Indice Refinitiv Global Focus Convertible Bond L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence et, par conséquent, la performance du Fonds peut s’écarter sensiblement de celle de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent allier revenu et croissance du capital dans un portefeuille composé principalement d’actifs convertibles du monde entier, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change cherchent à réduire l’exposition des détenteurs de Catégories d’Actions couvertes aux fluctuations des principales devises au sein du portefeuille du Fonds. |
| Calcul de l’exposition globale | VaR  absolue  et,  à  compter  du  31 janvier 2023,  VaR  relative. L’exposition mondiale relative à ce Fonds sera calculée à l’aide d’une approche de la VaR relative comparée à l’indice Refinitiv Global Focus Convertible Bond. |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 250 % de la Valeur liquidative du Fonds. |

|  | L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| --- | --- |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié aux obligations convertibles
- Risque de crédit
- Risques de change et de taux de change
- Instruments dérivés
- Risque lié aux marchés émergents
- Risque de contrepartie
- Risque de liquidité
- Risque de taux d’intérêt
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,50 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,00 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,50 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Global Convertibles Fund
Identifiant d’entité juridique : 
549300DZSWWWBBRWLT54

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une Orientation positive ESG (telles que définies ci- dessous) :
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Le Fonds maintient une notation ESG moyenne pondérée qui est soit
- supérieure à celle du marché des actions tel que représenté par son univers d’investissement, soit
- équivalente à au moins une notation A de MSCI, selon la valeur la plus basse (« Orientation positive ESG »).

Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants :
- Approche d’exclusion : Pourcentage (%) de la VL détenu dans des investissements exclus
- Orientation positive ESG : note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement ou par rapport à la note ESG correspondant à la valeur numérique la plus faible de la notation A de MSCI.

Quels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?
Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment :
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement. Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit :
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus devrait aboutir à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

Les Critères ESG du Fonds s’appliquent au moins à :
- 90 % des actions émises par des sociétés à grande capitalisation dans des pays développés, des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit « investment grade », et des titres de créance souverains émis par des pays développés ;
- 75 % des actions émises par des sociétés à grande capitalisation dans des pays émergents, des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays, des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, et des titres de créance souverains émis par des pays des marchés émergents.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds :
- Les exclusions du Fonds ;
- L’Orientation positive ESG du Fonds ;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? » ; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0%
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les instruments dérivés ne sont pas utilisés pour atteindre les caractéristiques environnementales et/ou sociales promues.
Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0 %, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités et des fonds du marché monétaire, ainsi que des instruments dérivés considérés comme des investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée, outre ce qui est indiqué ci-dessous.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum. Aucune garantie environnementale ou sociale minimale n’est appliquée aux instruments dérivés de devises.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

## Fonds à revenu fixe

### M&G (Lux) Absolute Return Bond Fund
| Date de lancement | 21 décembre 2016 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à atteindre un rendement total (la combinaison des revenus et de la croissance du capital) au moins égal au taux du marché monétaire* plus 2,5 % par an, avant déduction des frais**, quelles que soient les conditions du marché et sur toute période de trois ans. Le Fonds vise à atteindre ce rendement tout en cherchant à minimiser le degré de fluctuation de sa valeur au cours du temps (volatilité), et en essayant de limiter les pertes mensuelles. Cette gestion de la volatilité du Fonds réduit sa capacité à obtenir des rendements nettement supérieurs à l’Euribor à trois mois, majoré de 2,5 %. * Sur la base de l’Euribor 3 mois, le taux auquel les banques s’accordent mutuellement des prêts. ** Les investisseurs sont invités à se reporter à la section intitulée « Frais et charges ». |
| Politique d’investissement | Le Fonds investira au moins 70 % de sa Valeur liquidative dans les catégories d’actifs suivantes : obligations, devises, liquidités, quasi-liquidités et des dépôts. Celles-ci peuvent être émises n’importe où dans le monde et être libellées dans n’importe quelle devise. L’exposition du Fonds à ces investissements pourra également être acquise en investissant dans d’autres organismes de placement collectif, ou par l’utilisation d’instruments dérivés. Le Fonds pourra prendre des positions courtes (détenir des instruments dérivés dans le but d’obtenir un rendement positif lorsque la valeur des actifs auxquels ils sont liés diminue) sur des marchés, des devises, des titres et des groupes de titres. Le Fonds sera également libre d’obtenir une exposition à des investissements excédant sa Valeur liquidative en vue d’accroître son potentiel de rendement sur des marchés haussiers comme baissiers. Des instruments dérivés pourront être utilisés pour atteindre l’objectif d’investissement du Fonds et à des fins de gestion efficace du portefeuille. Le Fonds est susceptible d’investir dans des instruments dérivés, notamment des contrats au comptant, des contrats de change à terme, des contrats à terme négociés en bourse, des swaps, des swaps de défaut de crédit, des options et des swaps sur rendement total. Les obligations dans lesquelles le Fonds peut investir comprennent : - des obligations dont la note attribuée par une agence de notation reconnue est supérieure à la catégorie investment grade, des obligations émises ou garanties par des sociétés, des États, des collectivités territoriales, des administrations ou certains organismes publics internationaux, des obligations d’émetteurs situés dans des marchés émergents ;
- des titres de créance chinois onshore libellés en CNY négociés sur le marché obligataire interbancaire chinois ; et
- à hauteur de 60 % de la Valeur liquidative du Fonds au total, dans des obligations non notées et des obligations dont la notation est inférieure à la catégorie investment grade.
 Le Fonds peut investir jusqu’à 20 % de sa Valeur liquidative dans des titres adossés à des actifs et jusqu’à 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels. |

Stratégie
d’investissement
Approche d’investissement
Le Gestionnaire des Investissements adoptera une approche flexible, investissant dans un large éventail de marchés obligataires et de devises selon là où il identifiera de la valeur. Il adoptera une approche d’investissement dynamique, qui lui permettra de modifier le mélange de duration et des risques de change et de crédit en fonction de leurs perspectives.
Le Fonds visera en général à être très diversifié en termes de sélection de crédits individuels, et de thèmes d’investissement et de sources de revenus. Les gestionnaires chercheront à atteindre l’objectif de rendement tout en gérant la volatilité du fonds et en limitant les pertes lors de conditions de marché difficiles.
Approche d’investissement responsable
Le Fonds est classé ESG intégré.
La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus.
Règlement européen sur la publication
d’informations en matière de durabilité dans le secteur des services financiers
Règlement SFDR
Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ».
Règlement européen sur la taxonomie
Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Indice de référence	Euribor à trois mois, majoré de 2,5 %
L’indice de référence est un objectif que le Fonds cherche à atteindre. Le taux a été choisi en tant qu’indice de référence du Fonds car il s’agit d’un objectif de performance atteignable sur la base de l’approche d’investissement du Fonds. L’indice de référence est utilisé uniquement pour mesurer l’objectif de performance du Fonds et n’engendre aucune contrainte dans la construction du portefeuille.
Le Compartiment fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut choisir à son entière discrétion les actifs qu’il souhaite acheter, détenir et vendre au sein du Fonds.
L’indice de référence est présenté dans la devise de la Catégorie d’Actions, tel qu’indiqué
dans le tableau ci-après.
| Catégorie d’Actions | Comparateur de performance |
| --- | --- |
| CHF / couvert en CHF | SARON, majoré de 2,5 % |
| GBP / couvert en GBP | SONIA, majoré de 2,5 % |
| USD / couvert en USD | SOFR, majoré de 2,5 % |

Profil de l’investisseur
type
Les investisseurs types peuvent être des investisseurs particuliers, professionnels ou des Investisseurs institutionnels capables d’assumer le risque économique de perte de leur investissement dans le Fonds et qui acceptent le risque de capital et de revenu.
|  | Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir aux investisseurs qui disposent d’un horizon d’investissement d’au moins trois ans. |
| --- | --- |
| Devise de référence | EUR |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 350 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base semestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de contrepartie
- Risque de liquidité
- Risques de change et de taux de change
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié à la duration négative
- Risque lié aux marchés émergents
- Chine
- Risque lié aux instruments dérivés
- Risque lié aux positions à découvert
- Risque lié à l’exposition supérieure à la valeur liquidativePour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,00 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| B | 1,30 % | - | - | - | - | 0,05 % | 0,15 % |

| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| C | 0,40 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,40 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,40 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,40 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,00 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.

### M&G (Lux) Emerging Markets Bond Fund
| Date de lancement | 17 septembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à dégager un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché obligataire des marchés émergents du monde entier sur toute période de trois ans. |
| Politique d’investissement | Le Fonds a la possibilité d’investir dans tous les types de titres de créance des marchés émergents, dont les créances souveraine, d’entreprise et en devise locale. Le Fonds investit au moins 80 % de sa Valeur liquidative dans des titres de créance libellés dans n’importe quelle devise, émis ou garantis par des gouvernements des marchés émergents ou leurs agences, collectivités territoriales, et collectivités publiques, par des organismes quasi souverains et supranationaux et par des sociétés domiciliées ou conduisant la majeure partie de leur activité économique dans des marchés émergents. Le Fonds peut investir jusqu’à concurrence d’un maximum combiné de 100 % de sa Valeur liquidative dans des titres dont la notation est inférieure à « investment grade » et des titres non notés. La qualité de crédit ne fait l’objet d’aucune restriction à l’égard des titres de créance dans lesquels le Fonds peut investir. Le Fonds peut investir dans des titres de créance chinois onshore libellés en CNY et négociés sur le Marché obligataire interbancaire chinois. Le Fonds peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres adossés à des actifs et jusqu’à 10 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels. Le Fonds investira en règle générale sans intermédiaire. Le Fonds peut également investir indirectement via des instruments dérivés aux fins de la prise de positions longues et courtes et de l’obtention d’une exposition à des investissements excédant sa Valeur liquidative en vue d’accroître son potentiel de rendement sur des marchés haussiers comme baissiers. Des instruments dérivés pourront être utilisés pour atteindre l’objectif d’investissement du Fonds, ainsi qu’à des fins de gestion efficace du portefeuille et de couverture. Ces instruments peuvent inclure, sans toutefois s’y limiter, les contrats au comptant, les contrats à terme négociés de gré à gré, les contrats à terme négociés en bourse, les options, les swaps de défaut de crédit, les swaps de taux d’intérêt, les swaps sur rendement total et les titres indexés sur un risque de crédit. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts, des warrants et d’autres titres de créance. |
| Stratégie d’investissement | Approche d’investissement L’approche d’investissement du Fonds débute par une évaluation « top-down » des facteurs macroéconomiques tels que l’appétit pour le risque et les catalyseurs de croissance structurelle à l’échelle internationale. Des facteurs tels que les politiques monétaires et budgétaires, les flux de capitaux et les environnements politiques et réglementaires seront évalués aux niveaux national et régional. Le résultat de cette analyse permettra de décider des répartitions géographiques et monétaires du fonds, et de sa duration. La sélection de chaque créance est déterminée par une analyse approfondie du crédit et un examen des valorisations. |

|  | Une analyse des facteurs macroéconomiques et des actions est réalisée en étroite collaboration avec le Gestionnaire des Investissements et les analystes de crédit internes. La diversification du Fonds est assurée en sélectionnant des actifs émis sur les marchés émergents internationaux. Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Règlement SFDR Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. |
| Indice de référence | Un indice composite constitué de : - 1/3 de l’indice JPM EMBI Global Diversified ;
- 1/3 de l’indice JPM CEMBI Broad Diversified ; et
- 1/3 de l’indice JPM GBI-EM Global DiversifiedCes indices représentent respectivement les marchés d’obligations d’État des pays émergents libellées en devises fortes, les marchés d’obligations de sociétés de pays émergents libellées en devises fortes et les marchés d’obligations d’État des pays émergents libellées en devises locales.
 L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. Cet indice composite a été sélectionné en tant qu’indice de référence du Fonds car il est celui qui reflète le mieux la portée de sa politique d’investissement. L’indice de référence ne fait peser aucune contrainte sur la construction du portefeuille du Fonds. Le Compartiment fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels actifs acheter, détenir ou vendre au sein du Fonds. Les participations du Compartiment peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et aux Investisseurs institutionnels qui souhaitent allier revenu et croissance du capital dans un portefeuille composé principalement d’instruments de créance émis par les emprunteurs des marchés émergents, mais qui savent que leur capital est exposé à un risque et que la valeur de leur investissement, ainsi que tout revenu dérivé peuvent chuter aussi bien que grimper. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. |

|  | Ce Fonds peut convenir aux investisseurs qui disposent d’un horizon d’investissement d’au moins trois ans. |
| --- | --- |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue et à compter du 31 janvier 2023, VaR relative. L’exposition mondiale relative à ce Fonds sera calculée à l’aide d’une approche de la VaR relative par rapport à un indice composite constitué de : - 1/3 de l’indice JPM EMBI Global Diversified ;
- 1/3 de l’indice JPM CEMBI Broad Diversified ; et
- 1/3 de l’indice JPM GBI-EM Global Diversified.
 |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 150 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base semestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié aux marchés émergents
- Chine
- Risque de taux d’intérêt
- Risque de crédit
- Risques de change et de taux de change
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux instruments dérivés
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux positions à découvertPour une description plus détaillée des risques, les investisseurs sont invités à lire la section « Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,25 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 1,75 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,60 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,60 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,60 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,60 % | - | - | - | - | 0,01 % | 0,15 % |
| N | jusqu’à 1,25 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| X | 1,25 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.

### M&G (Lux) Emerging Markets Hard Currency Bond Fund
| Date de lancement | 22 mai 2017 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à dégager un rendement total (la combinaison de la croissance du revenu et du capital) supérieur à celui du marché obligataire en devises fortes des marchés émergents sur toute période de trois ans. |
| Politique d’investissement | Le Fonds investira au moins 80 % de sa Valeur liquidative dans des instruments de créance des marchés émergents émis ou garantis par des gouvernements de marchés émergents ou leurs agences, des autorités locales, des autorités publiques, des entités quasi-souveraines et des organismes supranationaux, et libellés dans une devise forte. Il peut également prendre une position limitée sur des instruments de créance émis par des sociétés des marchés émergents ou des instruments libellés dans des devises des marchés émergents. Le Gestionnaire des Investissements a la discrétion d’identifier les pays qu’il estime répondre à la qualification de marchés émergents. Le Fonds peut investir dans des titres de créance chinois onshore libellés en CNY et négociés sur le Marché obligataire interbancaire chinois. En général, l’exposition du Fonds à ces actifs sera réalisée de manière directe. Le Fonds pourra aussi investir indirectement par l’intermédiaire d’instruments dérivés. Des instruments dérivés pourront être utilisés pour atteindre l’objectif d’investissement du Fonds et à des fins de gestion efficace du portefeuille. Les instruments dérivés dans lesquels le Fonds peut investir sont des contrats au comptant, des contrats à terme de gré à gré, des contrats à terme négociés en bourse, des swaps, des swaps de défaut de crédit, des swaps sur rendement total et des options. Le Fonds peut aussi investir dans des liquidités, quasi-liquidités, dépôts, autres instruments de créance et autres organismes de placement collectif. |
| Stratégie d’investissement | Approche d’investissement L’approche du Fonds en termes d’investissement sur les marchés émergents débute par une analyse top-down de l’économie mondiale, qui est ajustée chaque jour en fonction des évolutions économiques, politiques et du marché. Dans ce cadre, l’approche du Gestionnaire des Investissements implique les points suivants : - Se faire une opinion sur les perspectives mondiales et générales des marchés émergents, y compris les perspectives de demande des économies avancées, les cours des matières premières, les tendances des taux d’intérêt, les outils de politique monétaire et d’autres composantes de l’environnement extérieur ;
- Identifier les pays dotés de fondamentaux de crédit sous-jacents solides ou en progression (y compris, par exemple, des situations budgétaires stables/en amélioration, des situations politiques stables/en amélioration, des niveaux de réserves confortables des banques centrales, une balance courante en amélioration) ;
- Évaluer les conditions techniques du crédit afin d’identifier à la fois les avantages et les déséquilibres qui pourraient potentiellement donner lieu à des bouleversements sur le marché.
 Ce cadre rigoureux à plusieurs volets sert de base à nos décisions en matière de pondération des pays, d’allocation modérée aux entreprises, de duration, de courbe des rendements et de sélection des devises et des instruments, ainsi qu’aux évaluations de valeur relative. |

|  | Le Fonds ne prendra pas d’exposition directe ou indirecte (lorsque le sous-jacent d’un actif éligible est une matière première) aux matières premières. Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Règlement SFDR Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. |
| Indice de référence | Indice JPM EMBI Global Diversified L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Compartiment, car il reflète le mieux la portée de la politique d’investissement du Compartiment. L’indice de référence sert uniquement à mesurer la performance du Compartiment et ne limite pas la construction du portefeuille du Compartiment. Le Compartiment fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Compartiment peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Les investisseurs types peuvent être des investisseurs particuliers, professionnels ou des Investisseurs institutionnels visant la croissance du revenu et du capital, mais capables d’assumer le risque économique de perte de leur investissement dans le Fonds. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir aux investisseurs qui disposent d’un horizon d’investissement d’au moins trois ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue et, à compter du 31 janvier 2023, VaR relative. L’exposition mondiale relative à ce Fonds sera calculée à l’aide d’une approche de la VaR relative comparée à l’indice JPM EMBI Global Diversified. |

| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 100 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| --- | --- |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions, le Fonds versera des dividendes sur une base trimestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux marchés émergents
- Chine
- Risque lié aux instruments dérivésPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,50 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,00 % | n.d. | - | - | - | 0,05 % | 0,15 % |
| C | 0,60 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,60 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,60 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,60 % | - | - | - | - | 0,01 % | 0,15 % |
| L | 0,35 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| LI | 0,35 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| X | 1,50 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.

### M&G (Lux) Euro Corporate Bond Fund
| Date de lancement | 9 novembre 2018 |
| --- | --- |
| Objectif d’investissement | Jusqu’au 15 février 2023 Le Fonds vise à dégager un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché obligataire européen des titres de qualité investment grade sur toute période de cinq ans. À partir du 16 février 2023 Le Fonds vise à dégager un rendement total (croissance du capital plus revenu) supérieur à celui du marché obligataire européen des titres de qualité investment grade sur toute période de cinq ans tout en appliquant des Critères ESG. |
| Politique d’investissement | Jusqu’au 15 février 2023 Le Fonds investit au moins 70 % de sa Valeur liquidative dans des obligations de sociétés de catégorie investment grade libellées dans une devise européenne. Les émetteurs de ces titres peuvent être établis dans un quelconque pays, y compris sur les marchés émergents. Le processus d’investissement du Fonds repose à la fois sur des facteurs macroéconomiques et une analyse fondamentale des titres individuels. Le Fonds peut également investir dans des obligations d’entreprises à haut rendement, des obligations non notées, des titres gouvernementaux et publics libellés dans une devise européenne. Plus de 70 % des actifs du Fonds seront en euros ou seront couverts en euros. La qualité de crédit ne fait l’objet d’aucune restriction à l’égard des titres de créance à haut rendement dans lesquels le Fonds peut investir. Le Fonds peut investir jusqu’à concurrence d’un maximum combiné de 30 % de sa Valeur liquidative dans des titres dont la notation est inférieure à « investment grade » et des titres non notés. Le Fonds peut détenir jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels et jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres adossés à des actifs. Le Fonds investira en règle générale sans intermédiaire. Le Fonds peut également prendre des positions longues et courtes grâce à l’investissement indirect par le biais d’instruments dérivés aux fins de la réalisation de son objectif d’investissement, de la gestion efficace du portefeuille et de la couverture. Ces instruments peuvent inclure, sans toutefois s’y limiter, les contrats au comptant, les contrats à terme négociés de gré à gré, les contrats à terme négociés en bourse, les options, les swaps de défaut de crédit, les swaps de taux d’intérêt, les swaps sur rendement total et les titres indexés sur un risque de crédit. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts et d’autres instruments de créance. À partir du 16 février 2023 Le Fonds investit au moins 70 % de sa Valeur liquidative dans des obligations de sociétés « investment grade » libellées dans n’importe quelle devise européenne. Les émetteurs de ces titres peuvent être établis dans un quelconque pays, y compris sur les marchés émergents. |

|  | Le Fonds peut également investir dans des obligations d’entreprises à haut rendement, des obligations non notées, des titres d’État et des titres publics libellés dans n’importe quelle devise européenne. Au moins 70 % des actifs du Fonds seront libellés en euros ou couverts en euros. La qualité de crédit ne fait l’objet d’aucune restriction à l’égard des titres de créance à haut rendement dans lesquels le Fonds peut investir. Le Fonds peut investir jusqu’à concurrence d’un maximum combiné de 30 % de sa Valeur liquidative dans des titres dont la notation est inférieure à « investment grade » et des titres non notés. Le Fonds peut détenir jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels et jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres adossés à des actifs. Le Fonds cherche à réaliser des investissements qui répondent aux critères ESG, en appliquant une approche d’exclusion, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds investira en règle générale sans intermédiaire. Le Fonds peut également investir indirectement par le biais d’instruments dérivés en vue de prendre des positions à la fois longues et courtes afin d’atteindre son objectif d’investissement, pour une gestion efficace de portefeuille et à des fins de couverture. De tels titres peuvent comprendre, sans s’y limiter, des contrats au comptant et des contrats à terme de gré à gré, des contrats à terme normalisés négociés sur un marché boursier, des options, des swaps de défaut de crédit, des swaps de taux d’intérêt et des titres indexés sur un risque de crédit (« Credit Linked Notes » ou CLN). Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts et d’autres instruments de créance. |
| --- | --- |
| Stratégie d’investissement | Approche d’investissement Le Gestionnaire des Investissements estime que les rendements obligataires dépendent d’une combinaison de facteurs macroéconomiques, liés aux classes d’actifs, aux secteurs, aux zones géographiques et aux actions. Une approche d’investissement dynamique est suivie, ce qui permet au Gestionnaire des Investissements de modifier la combinaison de duration et d’exposition au crédit. Le Fonds est diversifié en investissant dans un éventail d’émetteurs individuels, de secteurs et de régions. Une équipe interne d’analystes de crédit assiste le Gestionnaire des Investissements dans la sélection de crédits individuels ainsi que dans le suivi des émetteurs dont les titres sont détenus par le Fonds. Jusqu’au 15 février 2023 Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. À partir du 16 février 2023 Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / ESG Enhanced. |

|  | La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Jusqu’au 15 février 2023 Règlement SFDR Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. À partir du 16 février 2023 Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Jusqu’au 15 février 2023 Indice ICE BofAML Euro Corporate L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. À partir du 16 février 2023 Indice ICE BofAML Euro Corporate L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Jusqu’au 15 février 2023 |

|  | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent allier revenu et croissance du capital dans un portefeuille composé principalement d’obligations de sociétés de catégorie investment grade libellées dans une devise européenne, mais qui savent que leur capital est exposé à un risque et que la valeur de leur investissement ainsi que tout revenu dérivé peuvent chuter aussi bien que grimper. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. À partir du 16 février 2023 Le Fonds convient aux investisseurs particuliers et institutionnels qui souhaitent allier revenu et croissance du capital dans un portefeuille composé principalement d’obligations d’entreprises de qualité « investment grade » libellées dans n’importe quelle devise européenne, et qui souhaitent investir dans un fonds qui applique des facteurs ESG et qui tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| --- | --- |
| Devise de référence | EUR |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue et, à compter du 31 janvier 2023, VaR relative. L’exposition mondiale relative à ce Fonds sera calculée à l’aide d’une approche de la VaR relative comparée à l’indice ICE BofAML Euro Corporate. |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 100 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions, le Fonds versera des dividendes sur une base trimestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
 |

- Risque de taux d’intérêt
- Risque de liquidité
- Risque de contrepartie
- Risques de change et de taux de change
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux instruments dérivés
- Risque lié aux positions à découvert
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 0,40 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| C | 0,15 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,15 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,15 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,15 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 0,40 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Euro Corporate Bond Fund
Identifiant d’entité juridique : 
549300O6WRQEB3PFIE51

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ?
Le Fonds encourage le recours à une Approche d’exclusion (telle que définie ci-dessous):
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société. Pour les investissements titrisés tels que les titres adossés à des actifs (ABS), cela inclut également leur évaluation par la méthodologie de notation exclusive du Gestionnaire d’investissement (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants:
- Approche d’exclusion: Pourcentage (%) de la VL détenu dans des investissements exclus
- Approche d’exclusion: Pourcentage (%) d’ABS en dessous du seuil d’alignement du Gestionnaire d’investissementQuels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?

Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- À partir de cet univers d’investissement restreint, le Gestionnaire d’investissement effectue des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement.

Les Critères ESG du Fonds s’appliquent au moins à:
- 90% des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit« investment grade », des titres de créance souverains émis par des pays développés et des actions émises par des sociétés à grande capitalisation dans des pays développés ;
- 75% des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, des titres de créance souverains émis par des pays des marchés émergents, des actions émises par des sociétés à grande capitalisation de pays des marchés émergents et des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0%
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les produits dérivés peuvent être considérés comme alignés sur les caractéristiques environnementales et/ou sociales promues selon les principes suivants:
Exclusions:
- Lorsqu’un instrument dérivé représente une exposition à un seul nom, l’investissement doit être autorisé pour le Fonds.
- Lorsqu’un instrument dérivé représente une exposition à un indice financier diversifié, il doit fournir un alignement manifeste avec les caractéristiques promues.

Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités, des fonds du marché monétaire, des devises, des instruments dérivés de taux d’intérêt et des instruments dérivés similaires (qui peuvent inclure certaines opérations techniques telles que des contrats à terme sur obligations d’État utilisés pour les opérations de duration) en tant qu’investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés (hors opérations techniques) et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) European Inflation Linked Corporate Bond Fund
| Date de lancement | 16 mars 2018 |
| --- | --- |
| Objectif d’investissement | Jusqu’au 15 février 2023 Le Fonds vise à dégager un rendement total (la combinaison de la croissance du revenu et du capital) égal ou supérieur à l’inflation européenne sur toute période de trois ans. À partir du 16 février 2023 Le Fonds vise à dégager un rendement total (croissance du capital plus revenu) égal ou supérieur à l’inflation européenne sur toute période de trois ans tout en appliquant des Critères ESG. |
| Politique d’investissement | Jusqu’au 15 février 2023 Le Fonds investira au moins 50 % de sa Valeur liquidative dans des obligations d’entreprises indexées sur l’inflation notées investment grade. L’exposition peut être obtenue soit par le biais de participations directes, soit de manière synthétique en utilisant des combinaisons d’obligations d’État indexées sur l’inflation et d’instruments dérivés afin de créer des expositions au risque similaires. Un minimum de 90 % de la Valeur liquidative du Fonds sera exposé directement aux actifs libellés en euros ou à des positions non libellées en euros qui ont été couvertes dans cette devise. En outre, le Fonds pourra également investir dans les titres à revenu fixe suivants : - des obligations à taux fixe émises ou garanties par des sociétés, des gouvernements, des collectivités territoriales, des agences gouvernementales ou certains organismes publics internationaux, sous réserve de ne pas dépasser 40 % de la Valeur liquidative du Fonds ;
- des obligations à taux variable, sous réserve de ne pas dépasser 50 % de la Valeur liquidative du Fonds ;
- des obligations d’émetteurs situés dans des marchés émergents, sous réserve de ne pas dépasser 20 % de la Valeur liquidative du Fonds ;
- des obligations non notées et des obligations dont la notation est inférieure à investment grade, sous réserve de ne pas dépasser 30 % de la Valeur liquidative du Fonds ;
- des titres adossés à des actifs, sous réserve de ne pas dépasser 20 % de la Valeur liquidative du Fonds.
 Des instruments dérivés pourront être utilisés pour atteindre l’objectif d’investissement du Fonds, à des fins de couverture et à des fins de gestion efficace du portefeuille. Les instruments dérivés dans lesquels le Fonds peut investir comprennent, sans toutefois s’y limiter, les contrats au comptant, les contrats à terme négociés de gré à gré, les contrats à terme négociés en bourse, les swaps, les swaps de défaut de crédit et les swaps sur rendement total. Le Fonds peut aussi investir dans des liquidités, devises, quasi-liquidités, dépôts, autres instruments de créance, autres instruments dérivés, actions préférentielles, warrants et autres fonds. À partir du 16 février 2023 Le Fonds investira au moins 50 % de sa Valeur liquidative dans des obligations d’entreprise de qualité « investment grade » indexées sur l’inflation. L’exposition peut être obtenue soit par des participations directes soit de façon synthétique au moyen d’une combinaison |

|  | d’obligations d’État indexées sur l’inflation et de produits dérivés visant à créer des expositions aux profils de risque similaires. Un minimum de 90 % de la Valeur liquidative du Fonds sera exposé directement à des actifs libellés en EUR ou à des actifs non libellés en EUR présentant une couverture en EUR. Par ailleurs, le Fonds peut aussi investir dans les instruments à revenu fixe suivants : - des obligations à taux fixe émises ou garanties par des sociétés, des gouvernements, des autorités locales, des agences gouvernementales ou certains organismes publics internationaux, sous réserve d’une limite maximale de 40 % de la Valeur liquidative du Fonds ;
- des obligations à taux variable, sous réserve d’une limite maximale de 50 % de la Valeur liquidative du Fonds ;
- des obligations émanant d’émetteurs localisés sur des marchés émergents, sous réserve d’une limite maximale de 20 % de la Valeur liquidative du Fonds ;
- des obligations non notées et des obligations dont la notation est inférieure à« investment grade », sous réserve d’une limite maximale de 30 % de la Valeur liquidative du Fonds ;
- des titres adossés à des actifs, sous réserve d’une limite maximale de 20 % de la Valeur liquidative du Fonds.
 Le Fonds cherche à réaliser des investissements qui répondent aux Critères ESG, en appliquant une approche d’exclusion, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Des produits dérivés peuvent être utilisés pour réaliser l’objectif d’investissement du Fonds, à des fins de couverture et pour une gestion efficace de portefeuille. Les instruments dérivés dans lesquels le Fonds peut investir peuvent inclure, sans toutefois s’y limiter, les contrats au comptant, les contrats à terme négociés de gré à gré, les contrats à terme négociés en bourse, les swaps, les swaps de défaut de crédit et les swaps sur rendement total. Le Fonds peut également investir dans des liquidités, des devises, des quasi-liquidités, des dépôts, d’autres titres de créance, d’autres produits dérivés, des actions privilégiées, des warrants et d’autres fonds. |
| --- | --- |
| Stratégie d’investissement | Approche d’investissement Jusqu’au 15 février 2023 |
|  | La performance du Fonds est évaluée par rapport à l’Indice des prix à la consommation harmonisé pour la zone euro d’Eurostat. Le Fonds investira dans une gamme de titres à revenu fixe dont les rendements se comportent d’une manière similaire à l’inflation. Toutefois, des sources alternatives de rendement peuvent être recherchées lorsqu’il est estimé qu’elles pourraient permettre d’atteindre l’objectif du Fonds. |
|  | Le Gestionnaire des Investissements adopte une approche mixte, qui allie des considérations top-down comme bottom-up. |
|  | Le Fonds investira généralement dans des valeurs européennes, mais il peut aussi prendre des expositions globales selon les sources de valeur identifiées par le Gestionnaire des Investissements. |
|  | À partir du 16 février 2023 |
|  | La performance du Fonds est mesurée par rapport à l’indice Eurostat Eurozone Harmonized Index of Consumer Prices. Le Fonds investira dans un éventail de titres à taux fixe dont les rendements suivent l’évolution de l’inflation. Cependant, d’autres sources de rendements |

|  | peuvent être cherchées lorsqu’il est estimé que cela pourrait permettre d’atteindre l’objectif du Fonds. Le Gestionnaire des investissements adopte une approche mixte qui combine des considérations descendantes et ascendantes. Le Fonds investira généralement dans des titres européens, mais peut également prendre des expositions dans d’autres régions du monde en fonction de l’endroit où le Gestionnaire des Investissements identifie la valeur. Jusqu’au 15 février 2023 Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. À partir du 16 février 2023 Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+/ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Jusqu’au 15 février 2023 Règlement SFDR Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. À partir du 16 février 2023 Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Indice des prix à la consommation harmonisé pour la zone euro d’Eurostat L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. |

|  | Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| --- | --- |
| Profil de l’investisseur type | Jusqu’au 15 février 2023 Les investisseurs types peuvent être des investisseurs particuliers, professionnels ou des Investisseurs institutionnels à la recherche d’un rendement total égal ou supérieur à l’inflation européenne, mais capables d’assumer le risque économique de perte de leur investissement dans le Fonds. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir aux investisseurs qui disposent d’un horizon d’investissement d’au moins trois ans. À partir du 16 février 2023 Les investisseurs types peuvent être des investisseurs particuliers, professionnels ou institutionnels à la recherche d’un rendement total supérieur ou égal à l’inflation européenne et qui souhaitent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Ce Fonds convient à des investisseurs qui peuvent supporter le risque économique de la perte de leur investissement dans le Fonds. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir aux investisseurs qui disposent d’un horizon d’investissement d’au moins trois ans. |
| Devise de référence | EUR |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue L’exposition mondiale de ce Fonds sera calculée selon l’approche de la VaR relative par rapport à l’indice Bloomberg Global Aggregate Corporate (couvert en USD). |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 150 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |

| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risques de change et de taux de change
- Risque de crédit
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux instruments dérivés
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |
| --- | --- |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 0,50 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| C | 0,20 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,20 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,20 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,20 % |  |  |  |  |  |  |
|  |  | - | - | - | - | 0,01 % | 0,15 % |
| X | 0,50 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) European Inflation Linked Corporate Bond Fund
Identifiant d’entité juridique : 
549300405AQ08G7LRC37

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ?
Le Fonds encourage le recours à une Approche d’exclusion (telle que définie ci-dessous) :
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société. Pour les investissements titrisés tels que les titres adossés à des actifs (ABS), cela inclut également leur évaluation par la méthodologie de notation exclusive du Gestionnaire d’investissement (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants :
- Approche d’exclusion : Pourcentage (%) de la VL détenu dans des investissements exclus
- Approche d’exclusion : Pourcentage (%) d’ABS en dessous du seuil d’alignement du Gestionnaire d’investissementQuels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?

Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment :
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit :
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- À partir de cet univers d’investissement restreint, le Gestionnaire d’investissement effectue des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement.

Les Critères ESG du Fonds s’appliquent au moins à :
- 90% des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit« investment grade », des titres de créance souverains émis par des pays développés et des actions émises par des sociétés à grande capitalisation dans des pays développés ;
- 75% des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, des titres de créance souverains émis par des pays des marchés émergents, des actions émises par des sociétés à grande capitalisation de pays des marchés émergents et des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds :
- Les exclusions du Fonds ;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? » ; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0%
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les produits dérivés peuvent être considérés comme alignés sur les caractéristiques environnementales et/ou sociales promues selon les principes suivants :
Exclusions :
- Lorsqu’un instrument dérivé représente une exposition à un seul nom, l’investissement doit être autorisé pour le Fonds.
- Lorsqu’un instrument dérivé représente une exposition à un indice financier diversifié, il doit fournir un alignement manifeste avec les caractéristiques promues.

Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités, des fonds du marché monétaire, des devises, des instruments dérivés de taux d’intérêt et des instruments dérivés similaires (qui peuvent inclure certaines opérations techniques telles que des contrats à terme sur obligations d’État utilisés pour les opérations de duration) en tant qu’investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés (hors opérations techniques) et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet.
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Global Corporate Bond Fund
| Date de lancement | 7 décembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à dégager un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché mondial d’obligations d’entreprises de qualité investment grade sur toute période de cinq ans. |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des obligations d’entreprises de qualité investment grade libellées dans quelque devise que ce soit. Le Fonds ne prend pas en ligne de compte la devise et vise à couvrir tous les actifs autres que l’USD en USD. Les émetteurs de ces titres peuvent être établis dans un quelconque pays, y compris sur les marchés émergents. Le Fonds peut également investir dans des obligations d’entreprises à haut rendement et des titres d’État et publics libellés dans quelque devise que ce soit. La qualité de crédit ne fait l’objet d’aucune restriction à l’égard des titres de créance à haut rendement dans lesquels le Fonds peut investir. Le Fonds utilise un processus d’investissement reposant à la fois sur des facteurs macroéconomiques « top-down » et une analyse fondamentale des titres individuels. Le Fonds peut investir jusqu’à concurrence d’un maximum combiné de 20 % de sa Valeur liquidative dans des titres dont la notation est inférieure à « investment grade » et des titres non notés. Le Fonds peut détenir jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres adossés à des actifs et jusqu’à 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels. Le Fonds investira en règle générale sans intermédiaire. Le Fonds peut également prendre des positions longues et courtes grâce à l’investissement indirect par le biais d’instruments dérivés aux fins de la réalisation de son objectif d’investissement, de la gestion efficace du portefeuille et de la couverture. Ces instruments peuvent comprendre, sans pour autant s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des swaps de défaut de crédit, des swaps de taux d’intérêt et des swaps sur rendement total. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts, des warrants et d’autres titres de créance. |
| Stratégie d’investissement | Approche d’investissement Le Gestionnaire des Investissements prend en considération des facteurs au niveau macroéconomique, sectoriel, géographique, de la catégorie d’actifs et des obligations individuelles. Une approche d’investissement dynamique conjuguant une sélection de titres descendante et ascendante est adoptée, ce qui permet au Gestionnaire des Investissements de modifier la combinaison de duration et de risque de crédit en fonction des perspectives des marchés obligataires. Une équipe interne d’analystes de crédit aide le Gestionnaire des Investissements dans la sélection d’obligations individuelles ainsi que le suivi des sociétés détenues par le Fonds. |

|  | Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur | Règlement SFDR |
| la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». |
|  | Règlement européen sur la taxonomie |
|  | Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de |
|  | l’Union  européenne  en  matière  d’activités  économiques  durables  sur  le  plan |
|  | environnemental. |
| Indice de référence | Indice Bloomberg Global Aggregate Corporate (couvert en USD) L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Compartiment, car il reflète le mieux la portée de la politique d’investissement du Compartiment. L’indice de référence sert uniquement à mesurer la performance du Compartiment et ne limite pas la construction du portefeuille du Compartiment. Le Compartiment fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Compartiment peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la Catégorie d’Actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels à la recherche d’un rendement total à partir d’un portefeuille d’investissements à revenu fixe à l’échelle mondiale, mais qui savent que leur capital est exposé à un risque et que la valeur de leur investissement ainsi que tout revenu dérivé peuvent chuter aussi bien que grimper. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue et, à compter du 31 janvier 2023, VaR relative. L’exposition mondiale relative à ce Fonds sera calculée à l’aide d’une approche de la VaR relative comparée à l’indice Bloomberg Global Aggregate Corporate (couvert en USD). |

| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 250 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| --- | --- |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions, le Fonds versera des dividendes sur une base trimestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de taux d’intérêt
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux marchés émergents
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux instruments dérivés
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux positions à découvertPour une description plus détaillée des risques, les investisseurs sont invités à lire la section « Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A |  | 4,00 % |  |  |  |  |  |
|  | 0,65 % |  | - | - | - | 0,05 % | 0,15 % |
| C | 0,25 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,25 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,25 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,25 % | - | - | - | - | 0,01 % | 0,15 % |
| N | jusqu’à 0,65 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| X | 0,65 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.

### M&G (Lux) Global Floating Rate High Yield Fund
| Date de lancement | 13 septembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à dégager un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché mondial des obligations à haut rendement et à taux variable sur toute période de cinq ans. |
| Politique d’investissement | Le Fonds investit au moins 70 % de sa Valeur liquidative dans des obligations à haut rendement et à taux variable émises par des entreprises ou des gouvernements de quelque État que ce soit et libellées dans quelque devise que ce soit. Le Fonds ne prend pas en ligne de compte la devise et vise à couvrir tous les actifs autres que l’USD en USD. L’exposition à ces titres peut être réalisée, directement ou synthétiquement, par le biais de différentes combinaisons de titres d’État, d’obligations d’entreprises et d’instruments dérivés. Le processus d’investissement du Fonds est basé sur une analyse ascendante des émissions obligataires individuelles tout en restant au fait des évolutions macroéconomiques. En plus des titres à haut rendement, le Fonds peut investir jusqu’à concurrence d’un maximum combiné de 100 % de la Valeur liquidative du Fonds dans des titres de créances non côtés. La qualité de crédit ne fait l’objet d’aucune restriction à l’égard des titres de créance à haut rendement dans lesquels le Fonds peut investir. Le Fonds peut détenir jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres adossés à des actifs et jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels. Des instruments dérivés, à court et à long terme, pourront être utilisés pour atteindre l’objectif du Fonds, à des fins de gestion efficace du portefeuille et de couverture. Ces instruments peuvent comprendre, sans pour autant s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des swaps de défaut de crédit, des swaps de taux d’intérêt et des swaps sur rendement total. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts, des actions, des warrants et d’autres titres de créance. |
| Stratégie d’investissement | Approche d’investissement Le Fonds a été conçu pour générer un niveau de revenu attractif, ainsi qu’une couverture naturelle contre la hausse des taux d’intérêt, en investissant principalement dans des titres à taux variable et à haut rendement (FRN). Une partie de cette exposition devrait être obtenue par l’emploi d’instruments dérivés. Les FRN sont des obligations qui génèrent un niveau de revenu variable, régulièrement revu en fonction des variations des taux d’intérêt. Si les taux d’intérêt augmentent, les investissements dans les FRN généreront un revenu plus élevé, car leurs coupons seront automatiquement ajustés à la hausse (de la même manière, si les taux d’intérêt chutent, les coupons seront ajustés à la baisse). Le Fonds se concentre sur des obligations émises par des sociétés à haut rendement, qui paient généralement des taux d’intérêt plus élevés pour compenser le risque de défaillance plus élevé. Le Fonds sera diversifié à l’échelle mondiale et le Gestionnaire des Investissements cherchera à l’exposer à un large éventail d’émetteurs individuels dans divers secteurs industriels. |

|  | Le Gestionnaire des Investissements est autorisé à ajuster l’exposition au risque de crédit, le positionnement sectoriel et les allocations régionales du Fonds en fonction de son appréciation des valorisations du marché actuel et de l’environnement macroéconomique, y compris les tendances envisageables de la croissance économique, de l’inflation et des taux d’intérêt. La sélection de crédits individuels s’effectue conjointement avec l’équipe interne d’analystes de crédit, qui fournit une analyse ascendante des marchés des obligations d’entreprise afin de compléter les points de vue du Gestionnaire des Investissements. Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Règlement SFDR Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. |
| Comparateur de performance | Indice ICE BofAML Global Floating Rate High Yield (limité à 3 %), couvert en USD L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Compartiment, car il reflète le mieux la portée de la politique d’investissement du Compartiment. L’indice de référence sert uniquement à mesurer la performance du Compartiment et ne limite pas la construction du portefeuille du Compartiment. Le Compartiment fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Compartiment peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la Catégorie d’Actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent allier revenu et croissance du capital dans un portefeuille composé principalement de titres d’entreprises ou d’États à taux variable et à haut rendement, mais qui savent que leur capital est exposé à un risque et que la valeur de leur investissement, ainsi que tout revenu dérivé peuvent chuter aussi bien que grimper. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |

| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| --- | --- |
| Calcul de l’exposition globale | VaR absolue et, à compter du 31 janvier 2023, VaR relative. L’exposition mondiale relative à ce Fonds sera calculée à l’aide d’une approche de la VaR relative comparée à l’indice ICE BofAML Global Floating Rate High Yield (limité à 3 %), couvert en USD. |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 300 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions, le Fonds versera des dividendes sur une base trimestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de liquidité
- Risque lié aux instruments dérivés
- Risque de contrepartie
- Risque lié aux marchés émergents
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux positions à découvertPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,00 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 1,50 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,40 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,40 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,40 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,40 % | - | - | - | - | 0,01 % | 0,15 % |

| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| X | 1,00 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.

### M&G (Lux) Global High Yield Bond Fund
| Date de lancement | 9 novembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à dégager un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché obligataire mondial à haut rendement sur toute période de cinq ans. |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des obligations à haut rendement émises par des sociétés libellées dans n’importe quelle devise. Le Fonds ne tient pas compte de la devise et vise à couvrir tous les actifs autres que l’USD en USD. Les émetteurs de ces titres peuvent être établis dans un quelconque pays, y compris sur les marchés émergents. Le processus d’investissement du Fonds est basé sur une analyse ascendante des émissions obligataires individuelles tout en restant au fait des évolutions macroéconomiques. En plus des titres à haut rendement, le Fonds peut investir jusqu’à concurrence d’un maximum combiné de 100 % de la Valeur liquidative du Fonds dans des titres de créances non côtés. La qualité de crédit ne fait l’objet d’aucune restriction à l’égard des titres de créance à haut rendement dans lesquels le Fonds peut investir. Le Fonds peut détenir jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres adossés à des actifs et jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels. Le Fonds investira en règle générale sans intermédiaire. Le Fonds peut également prendre des positions longues et courtes grâce à l’investissement indirect par le biais d’instruments dérivés aux fins de la réalisation de son objectif d’investissement, de la gestion efficace du portefeuille et de la couverture. Ces instruments peuvent comprendre, sans pour autant s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des swaps de défaut de crédit, des swaps de taux d’intérêt et des swaps sur rendement total. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts, des actions, des warrants et d’autres titres de créance. |
| Stratégie d’investissement | Approche d’investissement Le Fonds est diversifié à l’échelle mondiale et le Gestionnaire des Investissements vise à fournir une exposition à un large éventail d’émetteurs individuels dans divers secteurs industriels. Le Gestionnaire des Investissements est autorisé à ajuster l’exposition au risque de crédit, le positionnement sectoriel et les allocations régionales du Fonds en fonction de son appréciation des valorisations du marché actuel et de l’environnement macroéconomique, y compris les tendances envisageables de la croissance économique, de l’inflation et des taux d’intérêt. La sélection de crédits individuels s’effectue conjointement avec l’équipe interne d’analystes de crédit, qui fournit une analyse ascendante des marchés des obligations d’entreprise afin de compléter les points de vue du Gestionnaire des Investissements. |

|  | Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Règlement SFDR Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. |
| Indice de référence | Indice ICE BofAML Global High Yield (couvert en USD) L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la Catégorie d’Actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent allier croissance du capital et du revenu et génération d’un haut revenu dans un portefeuille composé principalement de titres de créance d’entreprises à haut rendement (ou d’instruments dérivés fournissant une telle exposition), mais qui savent que leur capital sera exposé à un risque et que la valeur de leur investissement, ainsi que tout revenu dérivé peuvent chuter aussi bien que grimper. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue et, à compter du 31 janvier 2023, VaR relative. L’exposition mondiale relative à ce Fonds sera calculée à l’aide d’une approche de la VaR relative comparée à l’indice ICE BofAML Global High Yield (couvert en USD). |

| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 250 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| --- | --- |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base mensuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de taux d’intérêt
- Risque lié aux marchés émergents
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux instruments dérivés
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux positions à découvertPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,00 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 1,50 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,40 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,40 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,40 % % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,40 % % | - | - | - | - | 0,01 % | 0,15 % |
| L | 0,40 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| LI | 0,40 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| X | 1,00 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.

### M&G (Lux) Global Macro Bond Fund
| Date de lancement | 26 octobre 2018 |
| --- | --- |
| Objectif d’investissement | Jusqu’au 15 février 2023 Le Fonds vise à dégager un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché obligataire mondial sur toute période de cinq ans. À partir du 16 février 2023 Le Fonds vise à dégager un rendement total (croissance du capital plus revenu) supérieur à celui du marché obligataire mondial sur toute période de cinq ans tout en appliquant des Critères ESG. |
| Politique d’investissement | Jusqu’au 15 février 2023 Le Fonds investit au moins 80 % de sa Valeur liquidative dans des titres de créance, y compris des obligations de catégorie investment grade, des obligations à haut rendement, des titres non notés et des titres adossés à des actifs. Ces titres peuvent être émis par des gouvernements et leurs agences, ainsi que des autorités publiques, des entités quasi- souveraines, des organismes supranationaux et des entreprises. Les émetteurs de ces titres peuvent être établis dans n’importe quel pays, y compris dans les marchés émergents, et ils peuvent être libellés dans n’importe quelle devise. La qualité de crédit ne fait l’objet d’aucune restriction en ce qui concerne les investissements et le Fonds peut investir jusqu’à 100 % de sa Valeur liquidative dans des titres de créance à rendement élevé et non notés. Le Fonds peut investir dans des titres de créance chinois onshore libellés en CNY et négociés sur le Marché obligataire interbancaire chinois. Le Fonds peut investir jusqu’à 100 % de sa Valeur liquidative dans des titres adossés à des actifs et jusqu’à 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels. Le Fonds peut investir dans des titres adossés à des actifs, notamment des titres adossés à des créances hypothécaires (commerciales, résidentielles, à taux préférentiel, à taux non préférentiel), des CDO (collateralised debt obligation), des CLO (collateralised loan obligation), des crédit auto préférentiels, des crédits auto non préférentiels, des prêts à la consommation, des cartes de crédit, des prêts étudiants, des prêts/locations d’aéronefs, des locations d’équipements, des prêts/locations destinés aux petites entreprises, des titrisations complètes, des locations de logements individuels et d’autres actifs titrisés. Le Fonds est un fonds obligataire flexible qui permet d’investir dans un large éventail d’actifs à revenu fixe du moment que le Gestionnaire des Investissements les juge intéressants en termes de valeur. Le Gestionnaire des Investissements cherche également à créer de la valeur ajoutée grâce à la gestion active de l’exposition du Fonds à des devises mondiales. Le Processus d’investissement du Fonds repose sur la recherche macroéconomique visant à identifier des thèmes et opportunités d’investissement à l’échelle mondiale. Le Fonds investira en règle générale sans intermédiaire. Le Fonds peut également investir indirectement via des instruments dérivés aux fins de la prise de positions longues et courtes et de l’obtention d’une exposition à des investissements excédant sa Valeur liquidative en vue d’accroître son potentiel de rendement sur des marchés haussiers comme baissiers. Des instruments dérivés pourront être utilisés pour atteindre l’objectif d’investissement du |

Fonds, ainsi qu’à des fins de gestion efficace du portefeuille et de couverture. Ces instruments peuvent inclure, sans toutefois s’y limiter, les contrats au comptant, les contrats à terme négociés de gré à gré, les contrats à terme négociés en bourse, les options, les swaps de défaut de crédit, les swaps de taux d’intérêt, les swaps sur rendement total et les titres indexés sur un risque de crédit.
Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts, des warrants et d’autres titres de créance.
À partir du 16 février 2023
Le Fonds investit au moins 80 % de sa Valeur liquidative dans des titres de créance, y compris les obligations de catégorie « investment grade », les obligations à haut rendement, les titres non cotés et les titres adossés à des actifs. Ces titres peuvent être émis par des gouvernements et leurs agences, ainsi que des autorités publiques, des entités quasi- souveraines, des organismes supranationaux et des entreprises. Les émetteurs de ces titres peuvent être établis dans n’importe quel pays, y compris sur les marchés émergents, et ces titres peuvent être libellés dans n’importe quelle devise.
La qualité de crédit ne fait l’objet d’aucune restriction en ce qui concerne les investissements et le Fonds peut investir jusqu’à 100 % de sa Valeur liquidative dans des titres de créance à rendement élevé et non notés.
Le Fonds peut investir dans des titres de créance chinois onshore libellés en CNY et négociés sur le Marché obligataire interbancaire chinois.
Le Fonds peut investir jusqu’à 100 % de sa Valeur liquidative dans des titres adossés à des actifs et jusqu’à 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels.
Le Fonds peut investir dans des titres adossés à des actifs, notamment des titres adossés à des créances hypothécaires (commerciales, résidentielles, à taux préférentiel, à taux non préférentiel), des CDO (collateralised debt obligation), des CLO (collateralised loan obligation), des crédit auto préférentiels, des crédits auto non préférentiels, des prêts à la consommation, des cartes de crédit, des prêts étudiants, des prêts/locations d’aéronefs, des locations d’équipements, des prêts/locations destinés aux petites entreprises, des titrisations complètes, des locations de logements individuels et d’autres actifs titrisés.
Le Fonds est un fonds obligataire flexible qui permet d’investir dans un large éventail d’actifs à revenu fixe du moment que le Gestionnaire des Investissements les juge intéressants en termes de valeur. Le Gestionnaire des Investissements cherche également à ajouter de la valeur par le biais d’une gestion active de l’exposition du Fonds aux devises mondiales. Le processus d’investissement du Fonds repose sur une recherche macroéconomique visant à identifier des thèmes et opportunités d’investissement mondiaux.
Le Fonds cherche à réaliser des investissements qui répondent aux critères ESG, en appliquant une approche d’exclusion, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds.
Le Fonds investira en règle générale sans intermédiaire. Le Fonds peut également investir indirectement via des instruments dérivés aux fins de la prise de positions longues et courtes et de l’obtention d’une exposition à des investissements excédant sa Valeur liquidative en vue d’accroître son potentiel de rendement sur des marchés haussiers comme baissiers. Des instruments dérivés pourront être utilisés pour atteindre l’objectif d’investissement du Fonds, ainsi qu’à des fins de gestion efficace du portefeuille et de couverture. Ces instruments peuvent comprendre, sans pour autant s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des
|  | options, des swaps de défaut de crédit, des swaps de taux d’intérêt, des swaps sur rendement total et des titres indexés sur un risque de crédit. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts, des warrants et d’autres titres de créance. |
| --- | --- |
| Stratégie d’investissement | Approche d’investissement Ce sont principalement les opinions du Gestionnaire des Investissements sur certains facteurs macroéconomiques tels que la croissance économique, les taux d’intérêt et l’inflation qui orientent l’approche d’investissement du Fonds. Cette analyse détermine les types de titres de créance dans lesquels le Gestionnaire des Investissements estime que le Fonds doit investir pour atteindre son objectif. Elle influence également la combinaison de risque de taux d’intérêt, de risque de crédit et d’exposition au risque de change du portefeuille. Jusqu’au 15 février 2023 Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. À partir du 16 février 2023 Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+/ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Jusqu’au 15 février 2023 Règlement SFDR Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. À partir du 16 février 2023 Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Jusqu’au 15 février 2023 Indice Bloomberg Global Aggregate |

|  | L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Compartiment, car il reflète le mieux la portée de la politique d’investissement du Compartiment. L’indice de référence sert uniquement à mesurer la performance du Compartiment et ne limite pas la construction du portefeuille du Compartiment. Le Compartiment fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Compartiment peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la Catégorie d’Actions. À partir du 16 février 2023 Indice Bloomberg Global Aggregate L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la Catégorie d’Actions. |
| --- | --- |
| Profil de l’investisseur type | Jusqu’au 15 février 2023 Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent allier revenu et croissance du capital dans un portefeuille composé essentiellement de titres de créance et de devises de quelque pays que ce soit à travers le monde, mais qui savent que leur capital est exposé à un risque et que la valeur de leur investissement ainsi que tout revenu dérivé peuvent chuter aussi bien que grimper. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. À partir du 16 février 2023 Le Fonds convient aux investisseurs particuliers et institutionnels qui souhaitent allier revenu et croissance du capital dans un portefeuille composé principalement de titres de créances et de devises de n’importe quel pays, et qui souhaitent un fonds qui applique des Facteurs ESG et qui tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. |

|  | Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| --- | --- |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 200 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions, le Fonds versera des dividendes sur une base trimestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de taux d’intérêt
- Risque de contrepartie
- Risque de liquidité
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux marchés émergents
- Chine
- Risque lié aux instruments dérivés
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux positions à découvert
- Risque lié à la duration négative
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,25 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 1,75 % | - | - | - | - | 0,05 % | 0,15 % |

| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| C | 0,65 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,65 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,65 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,65 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,25 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Global Macro Bond Fund
Identifiant d’entité juridique : 
549300OHGMRPC0NPD471

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ?
Le Fonds encourage le recours à une Approche d’exclusion (telle que définie ci-dessous) :
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société. Pour les investissements titrisés tels que les titres adossés à des actifs (ABS), cela inclut également leur évaluation par la méthodologie de notation exclusive du Gestionnaire d’investissement (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants :
- Approche d’exclusion : Pourcentage (%) de la VL détenu dans des investissements exclus
- Approche d’exclusion : Pourcentage (%) d’ABS en dessous du seuil d’alignement du Gestionnaire d’investissementQuels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?

Le Fonds ne cible pas les investissements dans des investissements durables.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Le Fonds ne cible pas les investissements dans des investissements durables.
Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le Fonds ne cible pas les investissements dans des investissements durables.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Le Fonds ne cible pas les investissements dans des investissements durables.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, tel qu’expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit :
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- À partir de cet univers d’investissement restreint, le Gestionnaire d’investissement effectue des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement.

Les Critères ESG du Fonds s’appliquent au moins à :
- 90 % des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit« investment grade », des titres de créance souverains émis par des pays développés et des actions émises par des sociétés à grande capitalisation dans des pays développés ;
- 75 % des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, des titres de créance souverains émis par des pays des marchés émergents, des actions émises par des sociétés à grande capitalisation de pays des marchés émergents et des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds :
- Les exclusions du Fonds ; et
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0 %
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70 % du Fonds soit aligné sur les caractéristiques E/S promues.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les produits dérivés peuvent être considérés comme alignés sur les caractéristiques environnementales et/ou sociales promues selon les principes suivants :
Exclusions :
- Lorsqu’un instrument dérivé représente une exposition à un seul nom, l’investissement doit être autorisé pour le Fonds.
- Lorsqu’un instrument dérivé représente une exposition à un indice financier diversifié, il doit fournir un alignement manifeste avec les caractéristiques promues.

Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0 %
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0 %
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
0 %
Quelle est la part minimale d’investissements socialement durables ?
0 %
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités, des fonds du marché monétaire, des devises, des instruments dérivés de taux d’intérêt et des instruments dérivés similaires (qui peuvent inclure certaines opérations techniques telles que des contrats à terme sur obligations d’État utilisés pour les opérations de duration) en tant qu’investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés (hors opérations techniques) et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Optimal Income Fund
| Date de lancement | 5 septembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à fournir aux investisseurs un rendement total (la combinaison de la croissance du capital et du revenu) en fonction de l’exposition à des flux de revenus optimaux sur les marchés d’investissement. |
| Politique d’investissement | Le Fonds investit au moins 50 % de sa Valeur liquidative dans des titres de créance, y compris les obligations de catégorie « investment grade », les obligations à haut rendement, les titres non cotés et les titres adossés à des actifs. Ces titres peuvent être émis par des gouvernements et leurs agences, ainsi que des autorités publiques, des entités quasi- souveraines, des organismes supranationaux et des entreprises. Les émetteurs de ces titres, qui peuvent être libellés dans n’importe quelle devise, peuvent être établis dans n’importe quel pays, y compris dans les marchés émergents. Au moins 80 % de la Valeur liquidative sera en EUR ou couverte en EUR. Alors que la duration totale du Fonds ne sera pas négative, le Fonds peut avoir une duration négative dérivée des marchés individuels à revenu fixe. Le Fonds peut investir jusqu’à concurrence d’un maximum combiné de 100 % de sa Valeur liquidative dans des titres dont la notation est inférieure à « investment grade » et des titres non notés. La qualité de crédit ne fait l’objet d’aucune restriction à l’égard des titres de créance dans lesquels le Fonds peut investir. Le Fonds peut investir dans des titres de créance chinois onshore libellés en CNY et négociés sur le Marché obligataire interbancaire chinois. Le Fonds peut également détenir jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels et jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres adossés à des actifs. Le Fonds est un fonds obligataire flexible qui permet d’investir dans un large éventail d’actifs à revenu fixe du moment que le Gestionnaire des Investissements les juge intéressants en termes de valeur. En identifiant le flux de revenu optimal, le Fonds a également la flexibilité lui permettant d’investir dans des actions pour un maximum de 20 % de sa Valeur liquidative. De plus amples informations sur l’approche ESG du Fonds sont disponibles au point Critères ESG, en appliquant une approche d’exclusion et d’orientation positive ESG (« Positive ESG Tilt »), tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir dans d’autres valeurs mobilières, des liquidités et des quasi-liquidités, directement ou via des organismes de placement collectif (c’est-à-dire des OPCVM et d’autres OPC, y compris des fonds gérés par M&G). Le Fonds peut utiliser des instruments dérivés à des fins d’investissement, de gestion efficace du portefeuille et de couverture. Ces instruments peuvent comprendre, sans pour autant s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des swaps de défaut de crédit, des swaps sur rendement total, des swaps de taux d’intérêt et des titres indexés sur un risque de crédit. |

| Stratégie d’investissement | Approche d’investissement Le Gestionnaire des Investissements commence par une évaluation descendante de l’environnement macroéconomique, y compris les évolutions probables de la croissance, de l’inflation et des taux d’intérêt. Les résultats de cette analyse fournissent des informations permettant de décider du positionnement du Fonds quant à sa duration et à sa répartition entre les différentes catégories d’actifs obligataires. La sélection de crédits individuels s’effectue conjointement avec l’équipe interne d’analystes de crédit, qui fournit une analyse ascendante des marchés des obligations d’entreprise afin de compléter les points de vue du Gestionnaire des Investissements. Classification ESG du Gestionnaire des Investissements La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Un indice composite comprenant : - 1/3 de l’indice Bloomberg Global Aggregate Corporate, couvert en EUR ;
- 1/3 de l’indice Bloomberg Global High Yield, couvert en EUR ;
- 1/3 de l’indice Bloomberg Global Treasury, couvert en EUR.
 Ces indices représentent respectivement le marché mondial des obligations d’entreprises de qualité « investment grade », le marché mondial des obligations entreprises à haut rendement et le marché mondial des obligations d’État. L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice composite a été sélectionné comme indice de référence du Compartiment, car il reflète le mieux la portée de la politique d’investissement du Compartiment. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la Catégorie d’Actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et aux investisseurs institutionnels qui souhaitent allier croissance du capital et revenu dans un portefeuille dont au moins la moitié est investie dans des titres de créance et qui recherchent un fonds qui promeut certaines caractéristiques ESG lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. |

|  | Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| --- | --- |
| Devise de référence | EUR |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 200 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base semestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de taux d’intérêt
- Risques de change et de taux de change
- Risque lié aux marchés émergents
- Risque lié à la Chine
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux instruments dérivés
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux positions à découvert
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section « Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,25 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 1,75 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |

| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,25 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Optimal Income Fund
Identifiant d’entité juridique : 
5493008ON3OV4FEXKY59

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental : %
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une Orientation positive ESG (telles que définies ci- dessous):
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société. Pour les investissements titrisés tels que les titres adossés à des actifs (ABS), cela inclut également leur évaluation par la méthodologie de notation exclusive du Gestionnaire d’investissement (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme nuisant aux facteurs ESG.
Le Fonds maintient une note ESG moyenne pondérée supérieure à celle de son univers d’investissement
(« Orientation positive ESG »). Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants:
- Approche d’exclusion: Pourcentage (%) de la VL détenu dans des investissements exclus
- Approche d’exclusion: Pourcentage (%) d’ABS en dessous du seuil d’alignement du Gestionnaire d’investissement
- Orientation positive ESG: note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement.

Quels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?
Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durableComment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?

Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus devrait aboutir à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille orienté positivement vers des investissements présentant de meilleurs critères ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG.
- Le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces sociétés et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.

Les Critères ESG du Fonds s’appliquent au moins à:
- 90% des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit« investment grade », des titres de créance souverains émis par des pays développés et des actions émises par des sociétés à grande capitalisation dans des pays développés;
- 75% des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, des titres de créance souverains émis par des pays des marchés émergents, des actions émises par des sociétés à grande capitalisation de pays des marchés émergents et des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- L’Orientation positive ESG du Fonds;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0%
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les produits dérivés peuvent être considérés comme alignés sur les caractéristiques environnementales et/ou sociales promues selon les principes suivants:
Exclusions:
- Lorsqu’un instrument dérivé représente une exposition à un seul nom, l’investissement doit être autorisé pour le Fonds.
- Lorsqu’un instrument dérivé représente une exposition à un indice financier diversifié, il doit fournir un alignement manifeste avec les caractéristiques promues.

Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités, des fonds du marché monétaire, des devises, des instruments dérivés de taux d’intérêt et des instruments dérivés similaires (qui peuvent inclure certaines opérations techniques telles que des contrats à terme sur obligations d’État utilisés pour les opérations de duration) en tant qu’investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés (hors opérations techniques) et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Short Dated Corporate Bond Fund
| Date de lancement | 26 octobre 2018 |
| --- | --- |
| Objectif d’investissement | Jusqu’au 15 février 2023 Le Fonds vise à dégager un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché des obligations d’entreprises à court terme de qualité « investment grade » sur toute période de cinq ans. À partir du 16 février 2023 Le Fonds vise à dégager un rendement total (croissance du capital plus revenu) supérieur à celui du marché des obligations d’entreprises à court terme de qualité « investment grade » sur toute période de cinq ans tout en appliquant des Critères ESG. |
| Politique d’investissement | Jusqu’au 15 février 2023 Le Fonds investit au moins 80 % de sa Valeur liquidative dans des titres de créance à revenu fixe ou variable émis par des sociétés de qualité « investment grade » et dans des titres adossés à des actifs. Le Fonds peut également investir dans des obligations d’entreprises à rendement élevé, des titres de créance émis par des États et leurs organismes gouvernementaux, autorités publiques, organes supranationaux et quasi souverains. Le Fonds pourra aussi investir dans des obligations non cotées. La qualité de crédit ne fait l’objet d’aucune restriction à l’égard des titres de créance à haut rendement dans lesquels le Fonds peut investir. Ces titres peuvent être émis n’importe où dans le monde, y compris les marchés émergents, et être libellés dans n’importe quelle devise. Le Fonds ne prend pas en ligne de compte la devise et vise à couvrir tous les actifs autres que l’EUR en EUR. Le Fonds utilise un processus d’investissement reposant à la fois sur des facteurs macroéconomiques « top-down » et une analyse fondamentale des titres individuels. Le Fonds investit dans des obligations d’entreprises à court terme et/ou des titres qui, au total, produisent une duration faible du portefeuille, dans le but de limiter l’incidence des fluctuations des taux d’intérêt sur la valeur du capital du Fonds. Le Fonds peut investir jusqu’à concurrence d’un maximum combiné de 20 % de la Valeur liquidative du Fonds dans des titres à haut rendement et non notés. Le Fonds peut détenir jusqu’à 100 % de sa Valeur liquidative dans des titres adossés à des actifs et jusqu’à 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels. Le Fonds peut investir dans des titres adossés à des actifs, notamment des titres adossés à des créances hypothécaires (commerciales, résidentielles, à taux préférentiel, à taux non préférentiel), des CDO (collateralised debt obligation), des CLO (collateralised loan obligation), des crédit auto préférentiels, des crédits auto non préférentiels, des prêts à la consommation, des cartes de crédit, des prêts étudiants, des prêts/locations d’aéronefs, des locations d’équipements, des prêts/locations destinés aux petites entreprises, des titrisations complètes, des locations de logements individuels et d’autres actifs titrisés. Le Fonds investira en règle générale sans intermédiaire. Le Fonds peut également investir indirectement par l’intermédiaire d’instruments dérivés pour prendre des positions acheteur ou vendeur afin d’atteindre ses objectifs de placements et de gérer les |

portefeuilles de manière efficace. Ces instruments dérivés peuvent également être utilisés à des fins de couverture. Ces instruments dérivés peuvent comprendre, sans pour autant s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en Bourse, des swaps de défaut de crédit, des swaps de taux d’intérêt et des swaps sur rendement total.
Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts, des actions, des warrants et d’autres titres de créance.
À partir du 16 février 2023
Le Fonds investit au moins 80 % de sa Valeur liquidative dans des titres de créance à revenu fixe ou variable émis par des sociétés de qualité « investment grade » et dans des titres adossés à des actifs.
Le Fonds peut également investir dans des obligations d’entreprises à rendement élevé, des titres de créance émis par des États et leurs organismes gouvernementaux, autorités publiques, organes supranationaux et quasi souverains. Le Fonds pourra aussi investir dans des obligations non cotées. La qualité de crédit ne fait l’objet d’aucune restriction à l’égard des titres de créance à haut rendement dans lesquels le Fonds peut investir.
Ces titres peuvent être émis n’importe où dans le monde, y compris les marchés émergents, et être libellés dans n’importe quelle devise. Le Fonds ne prend pas en ligne de compte la devise et vise à couvrir tous les actifs autres que l’EUR en EUR.
Le Fonds utilise un processus d’investissement reposant à la fois sur des facteurs
macroéconomiques « top-down » et une analyse fondamentale des titres individuels.
Le Fonds investit dans des obligations d’entreprises à court terme et/ou des titres qui, au total, produisent une duration faible du portefeuille, dans le but de limiter l’incidence des fluctuations des taux d’intérêts sur la valeur du capital du Fonds.
Le Fonds peut investir jusqu’à concurrence d’un maximum combiné de 20 % de la Valeur liquidative du Fonds dans des titres à haut rendement et non notés.
Le Fonds peut détenir jusqu’à 100 % de sa Valeur liquidative dans des titres adossés à des actifs et jusqu’à 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels.
Le Fonds peut investir dans des titres adossés à des actifs, notamment des titres adossés à des créances hypothécaires (commerciales, résidentielles, à taux préférentiel, à taux non préférentiel), des CDO (collateralised debt obligation), des CLO (collateralised loan obligation), des crédit auto préférentiels, des crédits auto non préférentiels, des prêts à la consommation, des cartes de crédit, des prêts étudiants, des prêts/locations d’aéronefs, des locations d’équipements, des prêts/locations destinés aux petites entreprises, des titrisations complètes, des locations de logements individuels et d’autres actifs titrisés.
Le Fonds cherche à réaliser des investissements qui répondent aux critères ESG, en appliquant une approche d’exclusion, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds.
Le Fonds investira en règle générale sans intermédiaire. Le Fonds peut également investir indirectement par l’intermédiaire d’instruments dérivés pour prendre des positions acheteur ou vendeur afin d’atteindre ses objectifs de placements et de gérer les portefeuilles de manière efficace. Ces instruments dérivés peuvent également être utilisés à des fins de couverture. Ces instruments dérivés peuvent comprendre, sans pour autant s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats
|  | à terme négociés en Bourse, des swaps de défaut de crédit, des swaps de taux d’intérêt et des swaps sur rendement total. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des liquidités et quasi-liquidités, des dépôts, des warrants et d’autres titres de créance. |
| --- | --- |
| Stratégie d’investissement | Approche d’investissement Jusqu’au 15 février 2023 Le Gestionnaire des Investissements prend en considération des facteurs au niveau macroéconomique, sectoriel, géographique, de la catégorie d’actifs et des obligations individuelles. L’approche d’investissement dynamique associe une sélection de titres selon l’approche « top-down » et « bottom-up », ce qui permet au Gestionnaire des Investissements de modifier le dosage de la duration et du risque de crédit en fonction des perspectives des marchés obligataires, tout en préservant son profil de duration intrinsèquement faible à travers sa propension aux obligations d’entreprises à court terme. Une équipe interne d’analystes de crédit aide le Gestionnaire des Investissements dans la sélection d’obligations individuelles ainsi que le suivi des sociétés détenues par le Fonds. À partir du 16 février 2023 Le Gestionnaire des Investissements prend en considération des facteurs au niveau macroéconomique, sectoriel, géographique, de la catégorie d’actifs et des obligations individuelles. L’approche d’investissement dynamique associe une sélection de titres selon l’approche « top-down » et « bottom-up », ce qui permet au Gestionnaire des Investissements de modifier le dosage de la duration et du risque de crédit en fonction des perspectives des marchés obligataires, tout en préservant son profil de duration intrinsèquement faible à travers sa propension aux obligations d’entreprises à court terme. Une équipe interne d’analystes de crédit aide le Gestionnaire des Investissements dans la sélection d’obligations individuelles ainsi que le suivi des sociétés détenues par le Fonds. Jusqu’au 15 février 2023 Approche d’investissement responsable Le Fonds intègre des Critères ESG. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. À partir du 16 février 2023 Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+/ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité | Jusqu’au 15 février 2023 Règlement SFDR |

| dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. À partir du 16 février 2022 Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| --- | --- |
| Indice de référence | Indice Markit iBoxxEUR Corporates 1-3 year L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la Catégorie d’Actions. |
| Profil de l’investisseur type | Jusqu’au 15 février 2023 Le Fonds peut convenir aux investisseurs particuliers et institutionnels qui souhaitent obtenir un rendement total sur un portefeuille d’investissements mondiaux à revenus fixes ayant une duration du portefeuille faible en moyenne, mais qui savent que leur capital est exposé à un risque et que la valeur de leur investissement ainsi que tout revenu dérivé peuvent chuter aussi bien que grimper. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. À partir du 16 février 2023 Le Fonds convient aux investisseurs particuliers et aux investisseurs institutionnels cherchant à obtenir un rendement total à partir d’un portefeuille composé d’investissements obligataires du monde entier à faible duration moyenne, et qui souhaitent un fonds qui applique des facteurs ESG et qui tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. |

|  | Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| --- | --- |
| Devise de référence | EUR |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 150 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base trimestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de taux d’intérêt
- Risque lié aux obligations sécurisées
- Risque lié aux marchés émergents
- Risque lié aux titres de créance convertibles conditionnels
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux instruments dérivés
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux positions à découvert
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 0,25 % | 3,25 % | - | - | - | 0,05 % | 0,15 % |
| C | 0,10 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,10 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |

| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| J | Jusqu’à 0,10 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | Jusqu’à 0,10 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 0,25 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée 
à l’adresse : www.mandg.com/classesinissue
.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Short Dated Corporate Bond Fund
Identifiant d’entité juridique : 
549300PT8Y5VIWCSER97

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ?
Le Fonds encourage le recours à une Approche d’exclusion (telle que définie ci-dessous) :
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société. Pour les investissements titrisés tels que les titres adossés à des actifs (ABS), cela inclut également leur évaluation par la méthodologie de notation exclusive du Gestionnaire d’investissement (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants :
- Approche d’exclusion : Pourcentage (%) de la VL détenu dans des investissements exclus
- Approche d’exclusion : Pourcentage (%) d’ABS en dessous du seuil d’alignement du Gestionnaire d’investissementQuels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?

Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment :
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit :
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- À partir de cet univers d’investissement restreint, le Gestionnaire d’investissement effectue des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement.

Les Critères ESG du Fonds s’appliquent au moins à :
- 90 % des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit« investment grade », des titres de créance souverains émis par des pays développés et des actions émises par des sociétés à grande capitalisation dans des pays développés ;
- 75 % des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, des titres de créance souverains émis par des pays des marchés émergents, des actions émises par des sociétés à grande capitalisation de pays des marchés émergents et des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds :
- Les exclusions du Fonds ;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? » ; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0 %
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70 % du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20 % du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les produits dérivés peuvent être considérés comme alignés sur les caractéristiques environnementales et/ou sociales promues selon les principes suivants :
Exclusions :
- Lorsqu’un instrument dérivé représente une exposition à un seul nom, l’investissement doit être autorisé pour le Fonds.
- Lorsqu’un instrument dérivé représente une exposition à un indice financier diversifié, il doit fournir un alignement manifeste avec les caractéristiques promues.

Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0 %
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0 %, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0 %
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5 %
Quelle est la part minimale d’investissements socialement durables ?
5 %
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités, des fonds du marché monétaire, des devises, des instruments dérivés de taux d’intérêt et des instruments dérivés similaires (qui peuvent inclure certaines opérations techniques telles que des contrats à terme sur obligations d’État utilisés pour les opérations de duration) en tant qu’investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés (hors opérations techniques) et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Sustainable Emerging Markets Corporate Bond Fund
| Date de lancement | 25 juillet 2019 |
| --- | --- |
| Objectif d’investissement | Le Fonds cherche à générer un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché des obligations de sociétés situées dans les marchés émergents sur toute période de trois ans, en appliquant des Critères ESG. |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des titres de créance émis par des sociétés et des organismes quasi souverains constitués, domiciliés ou qui exercent la plupart de leurs activités dans des marchés émergents et sont libellés dans des devises fortes. Le Fonds peut également investir dans des titres de créance émis ou garantis par des États des marchés émergents ou leurs administrations, collectivités territoriales, collectivités publiques et des organismes supranationaux, et dans d’autres titres de créance libellés dans n’importe quelle devise. Le Fonds peut investir dans des titres de créance chinois onshore libellés en CNY et négociés sur le Marché obligataire interbancaire chinois. Aucune restriction en matière de qualité de crédit n’est appliquée aux investissements, et le Fonds peut investir jusqu’à 100 % de sa Valeur liquidative dans des titres de créance dont la notation est inférieure à la catégorie « investment grade » et non notés. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et en atteignant un Résultat ESG positif, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds . Le Fonds peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres adossés à des actifs. - Le Fonds peut investir dans des titres de créance convertibles conditionnels Jusqu’à 20 % de sa Valeur liquidativeLe Fonds peut investir dans d’autres valeurs mobilières, des liquidités et des quasi-liquidités, directement ou via des organismes de placement collectif (c’est-à-dire des OPCVM et d’autres OPC, y compris des fonds gérés par M&G).
 Le Fonds peut utiliser des instruments dérivés à des fins d’investissement, de gestion efficace du portefeuille et de couverture. Ces instruments peuvent comprendre, sans pour autant s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des swaps de défaut de crédit, des swaps de taux d’intérêt et des titres indexés sur un risque de crédit. |
| Stratégie d’investissement | Approche d’investissement L’approche d’investissement du Fonds implique une analyse approfondie des émetteurs d’obligations de sociétés des marchés émergents. Étant donné la nature des marchés émergents, l’analyse des obligations de sociétés et de leurs émetteurs est réalisée conjointement à une évaluation détaillée du risque de crédit du ou des émetteurs souverains concernés. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / Durable. |

|  | La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Indice JPM CEMBI Broad Diversified L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux particuliers et aux investisseurs institutionnels à la recherche d’une combinaison de la croissance du capital et du revenu provenant d’un portefeuille de titres de créance de sociétés des marchés émergents, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir aux investisseurs qui disposent d’un horizon d’investissement d’au moins trois ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue et, à compter du 31 janvier 2023, VaR relative. L’exposition mondiale relative à ce Fonds sera calculée à l’aide d’une approche de la VaR relative comparée à l’indice JPM CEMBI Broad Diversified. |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 100 % de la Valeur liquidative du Fonds. |

|  | L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| --- | --- |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié aux marchés émergents
- Risque lié à la Chine
- Risque de taux d’intérêt
- Risque de crédit
- Risques de change et de taux de change
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux instruments dérivés
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux positions à découvert
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1,50 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,00 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,60 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,60 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | Jusqu’à 0,60 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | Jusqu’à 0,60 % | - | - | - | - | 0,01 % | 0,15 % |
| L | 0,35 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| LI | 0,35 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| N | Jusqu’à 1,50 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| X | 1,50 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Sustainable Emerging Markets Corporate Bond Fund
Identifiant d’entité juridique : 
2549007K6TQBRKISX148

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 40 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une stratégie permettant d’atteindre un Résultat ESG positif (telles que définies ci-dessous):
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société et de l’aider à parvenir à des résultats plus durables. Pour les investissements titrisés tels que les titres adossés à des actifs (ABS), cela inclut également leur évaluation par la méthodologie de notation exclusive du Gestionnaire d’investissement (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme causant un préjudice important aux objectifs environnementaux et/ou sociaux.
Le Fonds a généralement une notation ESG moyenne pondérée plus élevée et une intensité carbone moyenne pondérée plus faible que celles d’un indice utilisé comme une mesure de son univers d’investissement (« Résultat ESG positif »). La méthodologie de calcul du Fonds ne comprend pas les titres qui ne disposent pas respectivement de données relatives à l’intensité carbone, ni les liquidités, ni les quasi-liquidités, ni certains instruments dérivés ni certains organismes de placement collectif.
Dans le cadre de la construction d’un portefeuille qui favorise les investissements présentant de meilleures caractéristiques ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG restantes au sein de l’univers restreint. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants:
- Approche d’exclusion: Pourcentage (%) de la VL détenu dans des investissements exclus
- Approche d’exclusion: Pourcentage (%) d’ABS en dessous du seuil d’alignement du Gestionnaire d’investissement
- Résultat ESG positif: Note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement
- Résultat ESG positif: Intensité carbone moyenne pondérée du portefeuille par rapport à l’intensité carbone moyenne pondérée de l’univers d’investissementQuels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?

Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durableComment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?

Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds. Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les considérations de durabilité, qui englobent les facteurs ESG, sont entièrement intégrées dans l’analyse et les décisions d’investissement, et elles jouent un rôle important dans la détermination de l’univers d’investissement et de la construction du portefeuille.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement évalue ensuite les caractéristiques ESG des autres émetteurs. Sur la base d’une combinaison de notations ESG externes et de l’évaluation du Gestionnaire d’investissement, les émetteurs les moins bien notés classés comme « retardataires ESG » sont exclus.
- À partir de cet univers d’investissement restreint, le Gestionnaire d’investissement effectue des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus aboutit généralement à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille qui favorise les investissements présentant de meilleures caractéristiques ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG restantes au sein de l’univers restreint.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
20%
Même si tout engagement concernant le taux minimal visant à réduire la portée des investissements pris en compte avant l’application de la stratégie d’investissement en raison des exclusions du Fonds a vocation à être contraignant, tel que cela est déterminé en tenant compte des exclusions du Fonds servant de mesure de l’univers d’investissement (telle qu’un indice financier) échappant au contrôle du Gestionnaire d’investissement, et étant donné que des exclusions supplémentaires nécessiteront une mise à jour des documents du fonds, il est possible que le Fonds ne soit pas tenu d’honorer cet engagement pendant une durée limitée.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Nous nous attendons à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 40% du Fonds sera consacré à des Investissements durables
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
Les activités alignées sur la taxinomie sont exprimées en pourcentage :
- du chiffre d’affaires pourrefléter la part des revenus provenant des activités vertes des sociétés bénéficiaires des investissements.
- des dépenses d’investissement (CapEx)pour montrer les investissements verts réalisés par les sociétés bénéficiaires des investissements, pour une transition vers une économie verte par exemple.
- des dépenses d’exploitation(OpEx) pour refléter les activités opérationnelles vertes des sociétés bénéficiaires des investissements.

La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les produits dérivés peuvent être considérés comme alignés sur les caractéristiques environnementales et/ou sociales promues selon les principes suivants:
Exclusions:
- Lorsqu’un instrument dérivé représente une exposition à un seul nom, l’investissement doit être autorisé pour le Fonds.
- Lorsqu’un instrument dérivé représente une exposition à un indice financier diversifié, il doit fournir un alignement manifeste avec les caractéristiques promues.

Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités, des fonds du marché monétaire, des devises, des instruments dérivés de taux d’intérêt et des instruments dérivés similaires (qui peuvent inclure certaines opérations techniques telles que des contrats à terme sur obligations d’État utilisés pour les opérations de duration) en tant qu’investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés (hors opérations techniques) et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Sustainable Global High Yield Bond Fund
| Date de lancement | 5 octobre 2017 |
| --- | --- |
| Objectif d’investissement | Le Fonds cherche à générer un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché durable mondial à haut rendement sur toute période de cinq ans, en appliquant des Critères ESG. |
| Politique d’investissement | Le Fonds investit au moins 80 % de sa Valeur liquidative dans des obligations à haut rendement émises par des sociétés situées partout dans le monde, y compris dans des marchés émergents, et libellées dans n’importe quelle devise. Le Fonds ne prend pas en ligne de compte la devise et vise à couvrir tous les actifs autres que l’USD en USD. La qualité de crédit ne fait l’objet d’aucune restriction en ce qui concerne les investissements et le Fonds peut investir jusqu’à 100 % de sa Valeur liquidative dans des titres de créance à rendement élevé et non notés. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et en atteignant un Résultat ESG positif, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut investir jusqu’à 20 % de sa Valeur liquidative dans des titres adossés à des actifs et jusqu’à 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels. Le Fonds peut également investir dans d’autres valeurs mobilières, des liquidités et des quasi-liquidités, directement ou via des organismes de placement collectif (c’est-à-dire des OPCVM et d’autres OPC, y compris des fonds gérés par M&G). Le Fonds peut utiliser des instruments dérivés à des fins d’investissement, de gestion efficace du portefeuille et de couverture. Ces instruments peuvent comprendre, sans pour autant s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des swaps de défaut de crédit, des swaps de taux d’intérêt, des swaps sur rendement total et des titres indexés sur un risque de crédit. |
| Stratégie d’investissement | Approche d’investissement Le Fonds est diversifié à l’échelle mondiale et vise à fournir une exposition à un large éventail d’émetteurs dans divers secteurs. Le Gestionnaire des Investissements est autorisé à ajuster l’exposition au risque de crédit, le positionnement sectoriel et les allocations régionales du Fonds en fonction de son appréciation des valorisations du marché actuel et de l’environnement macroéconomique. La sélection de crédits individuels s’effectue conjointement avec l’équipe interne d’analystes de crédit, qui fournit une analyse ascendante des marchés des obligations d’entreprise afin de compléter les points de vue du Gestionnaire des Investissements. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / Durable. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |

| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| --- | --- |
| Indice de référence | Indice Bloomberg MSCI Global HY Corporate ESG BB+ Sustainable SRI Bond L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice a été sélectionné comme indice de référence du Fonds, car il reflète le mieux la portée de la politique d’investissement du Fonds. L’indice de référence sert uniquement à mesurer la performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence. Le Gestionnaire des Investissements se reporte à l’indice de référence lors de la construction du portefeuille du Fonds, mais n’est pas assujetti aux règles de l’indice de référence lors de la sélection des investissements. Des informations supplémentaires sur l’indice de référence sont disponibles sur le site Internet de Bloomberg. L’indice de référence est présenté dans la devise de la Catégorie d’Actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux particuliers et investisseurs institutionnels à la recherche d’une combinaison de la croissance du capital et du revenu provenant d’un portefeuille de titres de créance de sociétés à haut rendement, et qui recherchent un fonds qui applique des Facteurs ESG et qui compte des principales incidences négatives lors de l’investissement. Rien ne garantit que les objectifs du Fonds seront atteints. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue et, à compter du 31 janvier 2023, VaR relative. L’exposition mondiale relative à ce Fonds sera calculée à l’aide d’une approche de la VaR relative comparée à l’indice Bloomberg MSCI Global HY Corporate ESG BB+ Sustainable SRI Bond. |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 150 % de la Valeur liquidative du Fonds. |

|  | L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| --- | --- |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de taux d’intérêt
- Risque lié aux marchés émergents
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux obligations sécurisées
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux instruments dérivés
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux positions à découvert
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1,00 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 1,50 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,40 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,40 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | Jusqu’à 0,40 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | Jusqu’à 0,40 % |  |  |  |  |  |  |
|  |  | - | - | - | - | 0,01 % | 0,15 % |
| L | 0,20 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| LI | 0,20 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| N | Jusqu’à 1,00 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| X | 1,00 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Sustainable Global High Yield Bond Fund
Identifiant d’entité juridique : 
222100FNZWQINHRH8058

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 40 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une stratégie permettant d’atteindre un Résultat ESG positif (telles que définies ci-dessous):
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société et de l’aider à parvenir à des résultats plus durables. Pour les investissements titrisés tels que les titres adossés à des actifs (ABS), cela inclut également leur évaluation par la méthodologie de notation exclusive du Gestionnaire d’investissement (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme causant un préjudice important aux objectifs environnementaux et/ou sociaux.
Le Fonds a généralement une notation ESG moyenne pondérée plus élevée et une intensité carbone moyenne pondérée plus faible que celles d’un indice utilisé comme une mesure de son univers d’investissement (« Résultat ESG positif »). La méthodologie de calcul du Fonds ne comprend pas les titres qui ne disposent pas respectivement de données relatives à l’intensité carbone, ni les liquidités, ni les quasi-liquidités, ni certains instruments dérivés ni certains organismes de placement collectif.
Dans le cadre de la construction d’un portefeuille qui favorise les investissements présentant de meilleures caractéristiques ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG restantes au sein de l’univers restreint. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants:
- Approche d’exclusion: Pourcentage (%) de la VL détenu dans des investissements exclus
- Approche d’exclusion: Pourcentage (%) d’ABS en dessous du seuil d’alignement du Gestionnaire d’investissement
- Résultat ESG positif: Note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement
- Résultat ESG positif: Intensité carbone moyenne pondérée du portefeuille par rapport à l’intensité carbone moyenne pondérée de l’univers d’investissementQuels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?

Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds. Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les considérations de durabilité, qui englobent les facteurs ESG, sont entièrement intégrées dans l’analyse et les décisions d’investissement, et elles jouent un rôle important dans la détermination de l’univers d’investissement et de la construction du portefeuille.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement évalue ensuite les caractéristiques ESG des autres émetteurs. Sur la base d’une combinaison de notations ESG externes et de l’évaluation du Gestionnaire d’investissement, les émetteurs les moins bien notés classés comme « retardataires ESG » sont exclus.
- À partir de cet univers d’investissement restreint, le Gestionnaire d’investissement effectue des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus aboutit généralement à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille qui favorise les investissements présentant de meilleures caractéristiques ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG restantes au sein de l’univers restreint.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
20%
Même si tout engagement concernant le taux minimal visant à réduire la portée des investissements pris en compte avant l’application de la stratégie d’investissement en raison des exclusions du Fonds a vocation à être contraignant, tel que cela est déterminé en tenant compte des exclusions du Fonds servant de mesure de l’univers d’investissement (telle qu’un indice financier) échappant au contrôle du Gestionnaire d’investissement, et étant donné que des exclusions supplémentaires nécessiteront une mise à jour des documents du fonds, il est possible que le Fonds ne soit pas tenu d’honorer cet engagement pendant une durée limitée.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Nous nous attendons à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 40% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
Les activités alignées sur la taxinomie sont exprimées en pourcentage :
- du chiffre d’affaires pourrefléter la part des revenus provenant des activités vertes des sociétés bénéficiaires des investissements.
- des dépenses d’investissement (CapEx)pour montrer les investissements verts réalisés par les sociétés bénéficiaires des investissements, pour une transition vers une économie verte par exemple.
- des dépenses d’exploitation(OpEx) pour refléter les activités opérationnelles vertes des sociétés bénéficiaires des investissements.

La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les produits dérivés peuvent être considérés comme alignés sur les caractéristiques environnementales et/ou sociales promues selon les principes suivants:
Exclusions:
- Lorsqu’un instrument dérivé représente une exposition à un seul nom, l’investissement doit être autorisé pour le Fonds.
- Lorsqu’un instrument dérivé représente une exposition à un indice financier diversifié, il doit fournir un alignement manifeste avec les caractéristiques promues.

Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités, des fonds du marché monétaire, des devises, des instruments dérivés de taux d’intérêt et des instruments dérivés similaires (qui peuvent inclure certaines opérations techniques telles que des contrats à terme sur obligations d’État utilisés pour les opérations de duration) en tant qu’investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés (hors opérations techniques) et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Sustainable Macro Flexible Credit Fund
| Date de lancement | 24 février 2022 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à fournir aux investisseurs un rendement total (la combinaison de la croissance du capital et du revenu) au moins égal aux liquidités* plus 3,5 % par an, avant application des frais**, sur toute période de cinq ans, en appliquant des Critères ESG. * sur la base de l’Euribor 1 mois, le taux auquel les banques s’accordent mutuellement des prêts. ** les investisseurs sont invités à se reporter à la section « Frais et charges ». |
| Politique d’investissement | Le Fonds investit au moins 70 % de sa Valeur liquidative dans des obligations d’entreprises, des obligations d’État, des liquidités et quasi-liquidités, des instruments du marché monétaire, des titres adossés à des actifs et des actions privilégiées. Le Fonds peut également investir jusqu’à 40 % de sa Valeur liquidative dans des titres adossés à des actifs et des titres adossés à des créances hypothécaires (incluant, notamment, des titres adossés à des prêts à la consommation, des CLO – collateralised loan obligations – et des titrisations complètes). Le Fonds peut investir dans des obligations convertibles, y compris jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels. Les émetteurs de ces titres peuvent être établis dans un quelconque pays, y compris sur les marchés émergents. Les investissements peuvent être libellés dans n’importe quelle devise. Toutefois, au moins 75 % de la Valeur liquidative du Fonds seront libellés en euros ou couverts en euros. Aucune restriction quant à la qualité du crédit n’est applicable à ces investissements. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et en atteignant un Résultat ESG positif, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir indirectement via des fonds (c’est-à-dire des OPCVM et d’autres OPC, y compris des fonds gérés par M&G), et peut investir dans d’autres valeurs mobilières. Le Fonds peut utiliser des instruments dérivés à des fins d’investissement, de gestion efficace du portefeuille et de couverture. Ces instruments peuvent comprendre, sans pour autant s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des options, des swaps de défaut de crédit et des swaps de taux d’intérêt. |
| Stratégie d’investissement | Approche d’investissement Le Fonds est autorisé à investir dans un large éventail de titres de créance sur les marchés mondiaux du crédit. Le Fonds vise à générer un rendement total sur les cycles économiques et de crédit, en utilisant une approche d’investissement qui associe une sélection de crédit ascendante et une gestion active de l’exposition aux taux d’intérêt. La stratégie de sélection de crédit vise à générer des rendements à partir d’une sélection au sein des marchés, des secteurs et des titres. L’exposition du Fonds aux taux d’intérêt est ajustée en fonction de l’évolution des perspectives macroéconomiques et des conditions de marché. Durant la mise en œuvre de ces stratégies, le Gestionnaire des Investissements gère |

|  | activement l’exposition aux taux d’intérêt sur l’ensemble des échéances en complément des rendements de crédit. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / Durable. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Euribor à un mois, majoré de 3,5 % L’indice de référence est un objectif que le Fonds cherche à atteindre. Le taux a été choisi en tant qu’indice de référence du Fonds car il s’agit d’un objectif de performance atteignable sur la base de l’approche d’investissement du Fonds. L’indice de référence sert uniquement à mesurer l’objectif de performance du Fonds et ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels actifs acheter, détenir ou vendre au sein du Fonds. L’indice de référence est présenté dans la devise de la Catégorie d’Actions, tel qu’indiqué dans le tableau ci-après. Catégorie d’Actions	Comparateur de performance CHF / couvert en CHF	SARON majoré de 3,5 % GBP / couvert en GBP	SONIA majoré de 3,5 % USD / couvert en USD	SOFR majoré de 3,5 % |
| Profil de l’investisseur type | Le Fonds peut convenir aux particuliers et aux investisseurs institutionnels à la recherche d’une combinaison de la croissance du capital et du revenu provenant d’un portefeuille d’obligations mondiales, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | EUR |

| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| --- | --- |
| Calcul de l’exposition globale | VaR absolue |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 450 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Souscriptions | Les Actions de Catégorie V ne peuvent être souscrites qu’au cours des 8 semaines suivant leur lancement (la « Fenêtre de souscription »). À l’issue de la Fenêtre de souscription, les Actions de Catégorie V seront fermées aux souscriptions pour trois ans. Pour  toutes  les  autres  Catégories  d’Actions,  veuillez  vous  reporter  à  la  section « Souscriptions » du Prospectus. |
| Échanges | Les échanges d’Actions d’autres Fonds en Actions de Catégorie V du Fonds ne sont pas autorisés, sauf si le Conseil d’administration en décide autrement. Les échanges d’Actions de Catégorie V du Fonds en Actions d’autres Fonds ne sont pas autorisés avant le troisième anniversaire de la clôture de la Fenêtre de souscription, sauf si le Conseil d’administration en décide autrement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Frais et charges | Contrairement à ce qui est indiqué à la section Frais et charges, la Société de gestion prélèvera une commission unique sur chaque Catégorie d’Actions du Fonds afin de couvrir ses obligations, ainsi que les frais de fonctionnement, d’administration et de contrôle associés aux Catégories d’Actions du Fonds. Cette commission sera calculée et prise en compte sur une base journalière (la « Commission unique »). La Commission unique comprend : - La Commission de gestion annuelle ;
- La Commission d’administration (la réduction sur la Commission d’administration telle que décrite à la section « Frais et charges » du Prospectus ne s’applique pas aux Fonds appliquant une Commission unique) ;
- La Commission de couverture de Catégorie d’Actions (le cas échéant) ;
- La Taxe d’abonnement ;
- La Commission du Dépositaire ;
- Les Commissions de conservation et les Commissions par opération de conservation ; et
- Les autres charges. La Commission unique exclut :
- Les frais de transaction du portefeuille (écart de négociation, commissions des courtiers, taxes de transfert et droits de timbre supportés par la Société lors des transactions du Fonds) ;
- Tous les frais initiaux ou toutes les commissions de rachat ; et
 |

|  | - Toutes les charges exceptionnelles y compris, sans s’y limiter, les frais juridiques et le montant total de toute taxe, tout impôt, tout droit ou toute charge similaire imposé(e) au Fonds qui ne serait pas considéré(e) comme une charge ordinaire.
 Lorsqu’un Fonds investit dans des parts ou des actions d’autres fonds, les frais et charges encourus dans des fonds sous-jacents suivent le traitement décrit à la section « Frais et charges » du Prospectus. Concernant les Actions des Catégories Z et ZI, la Commission unique sera prélevée de manière administrative et recueillie directement auprès de l’investisseur par la Société de gestion. Indépendamment de la Commission unique, et pour les Actions de Catégorie V uniquement, une commission (la « Commission de placement ») sera appliquée à la fin de la Fenêtre de souscription. La Commission de placement de 2 % est une commission ponctuelle payée par le Fonds au distributeur des Actions de Catégorie V. Elle est calculée sur la base de la Valeur liquidative de la Catégorie d’Actions V à la fin de la Fenêtre de souscription. Lorsque ces commissions sont payables, M&G rembourse le Fonds. Le paiement de la Commission de placement est récupéré par M&G par le biais de la Commission unique applicable aux Actions de Catégorie V jusqu’au troisième anniversaire du Fonds, ou, en cas de rachat par l’investisseur, par le biais de la commission de rachat applicable jusqu’au troisième anniversaire de la clôture de la Fenêtre de souscription. La Commission de placement payée par M&G et la récupération de la Commission de placement (ou la récupération au prorata de la Commission de placement en cas de rachat par l’investisseur avant le troisième anniversaire du Fonds) peuvent ne pas correspondre exactement. |
| --- | --- |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de contrepartie
- Risque lié à la duration négative
- Risque de taux d’intérêt
- Risques de change et de taux de change
- Risque lié aux marchés émergents
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux instruments dérivés
- Risque de liquidité
- Risque lié à la commission de rachat
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
| Catégorie d’Actions | Commission unique (taux annuel) | Frais initiaux | Commission de rachat |
| --- | --- | --- | --- |
| P | 1,10 % | 3,25 % | - |

| Catégorie d’Actions | Commission unique (taux annuel) | Frais initiaux | Commission de rachat |
| --- | --- | --- | --- |
| P2 | 1,10 % | 3,25 % | - |
| U | 0,52 % | 1,25 % | - |
| UI | 0,48 % | 1,25 % | - |
| V | 1,35 % | - | Voir le tableau ci-dessous. |
| W | 0,59 % | 1,25 % | - |
| WI | 0,55 % | 1,25 % | - |
| Z | - | - | - |
| ZI | - | - | - |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée 
à l’adresse : www.mandg.com/classesinissue
.
Grille des commissions de rachat
Les Actionnaires qui demandent le rachat d’Actions de Catégorie V avant le troisième anniversaire de la clôture de la Fenêtre de souscription peuvent être soumis à des commission de rachat dégressives trimestriellement comme exposé ci-dessous :
| Trimestre | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Commission de rachat | 2,00 % | 1,83 % | 1,66 % | 1,49 % | 1,32 % | 1,15 % | 0,98 % | 0,81 % | 0,64 % | 0,47 % | 0,30 % | 0,13 % |

Les Administrateurs peuvent réduire ou annuler le montant des Commissions de rachat à leur seule discrétion.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Sustainable Macro Flexible Credit Fund
Identifiant d’entité juridique : 
254900MBYTIXGWFWME22

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 51 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une stratégie permettant d’atteindre un Résultat ESG positif (telles que définies ci-dessous):
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société et de l’aider à parvenir à des résultats plus durables. Pour les investissements titrisés tels que les titres adossés à des actifs (ABS), cela inclut également leur évaluation par la méthodologie de notation exclusive du Gestionnaire d’investissement (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme causant un préjudice important aux objectifs environnementaux et/ou sociaux.
Le Fonds a généralement une notation ESG moyenne pondérée plus élevée et une intensité carbone moyenne pondérée plus faible que celles d’un indice utilisé comme une mesure de son univers d’investissement (« Résultat ESG positif »). La méthodologie de calcul du Fonds ne comprend pas les titres qui ne disposent pas respectivement de données relatives à l’intensité carbone, ni les liquidités, ni les quasi-liquidités, ni certains instruments dérivés ni certains organismes de placement collectif.
Dans le cadre de la construction d’un portefeuille qui favorise les investissements présentant de meilleures caractéristiques ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG restantes au sein de l’univers restreint. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants:
- Approche d’exclusion: Pourcentage (%) de la VL détenu dans des investissements exclus
- Approche d’exclusion: Pourcentage (%) d’ABS en dessous du seuil d’alignement du Gestionnaire d’investissement
- Résultat ESG positif: Note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement
- Résultat ESG positif: Intensité carbone moyenne pondérée du portefeuille par rapport à l’intensité carbone moyenne pondérée de l’univers d’investissementQuels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?

Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds. Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les considérations de durabilité, qui englobent les facteurs ESG, sont entièrement intégrées dans l’analyse et les décisions d’investissement, et elles jouent un rôle important dans la détermination de l’univers d’investissement et de la construction du portefeuille.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement évalue ensuite les caractéristiques ESG des autres émetteurs. Sur la base d’une combinaison de notations ESG externes et de l’évaluation du Gestionnaire d’investissement, les émetteurs les moins bien notés classés comme « retardataires ESG » sont exclus.
- À partir de cet univers d’investissement restreint, le Gestionnaire d’investissement effectue des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus aboutit généralement à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille qui favorise les investissements présentant de meilleures caractéristiques ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG restantes au sein de l’univers restreint.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
20%
Même si tout engagement concernant le taux minimal visant à réduire la portée des investissements pris en compte avant l’application de la stratégie d’investissement en raison des exclusions du Fonds a vocation à être contraignant, tel que cela est déterminé en tenant compte des exclusions du Fonds servant de mesure de l’univers d’investissement (telle qu’un indice financier) échappant au contrôle du Gestionnaire d’investissement, et étant donné que des exclusions supplémentaires nécessiteront une mise à jour des documents du fonds, il est possible que le Fonds ne soit pas tenu d’honorer cet engagement pendant une durée limitée.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 51% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
Les activités alignées sur la taxinomie sont exprimées en pourcentage :
- du chiffre d’affaires pourrefléter la part des revenus provenant des activités vertes des sociétés bénéficiaires des investissements.
- des dépenses d’investissement (CapEx)pour montrer les investissements verts réalisés par les sociétés bénéficiaires des investissements, pour une transition vers une économie verte par exemple.
- des dépenses d’exploitation(OpEx) pour refléter les activités opérationnelles vertes des sociétés bénéficiaires des investissements.

La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les produits dérivés peuvent être considérés comme alignés sur les caractéristiques environnementales et/ou sociales promues selon les principes suivants:
Exclusions:
- Lorsqu’un instrument dérivé représente une exposition à un seul nom, l’investissement doit être autorisé pour le Fonds.
- Lorsqu’un instrument dérivé représente une exposition à un indice financier diversifié, il doit fournir un alignement manifeste avec les caractéristiques promues.

Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités, des fonds du marché monétaire, des devises, des instruments dérivés de taux d’intérêt et des instruments dérivés similaires (qui peuvent inclure certaines opérations techniques telles que des contrats à terme sur obligations d’État utilisés pour les opérations de duration) en tant qu’investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés (hors opérations techniques) et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Sustainable Optimal Income Bond Fund
| Date de lancement | 14 décembre 2021 |
| --- | --- |
| Objectif d’investissement | Le Fonds cherche à générer un rendement total (la combinaison de la croissance du capital et du revenu) supérieur à celui du marché durable mondial des obligations sur toute période de cinq ans, sur la base d’une exposition à des flux de revenu optimaux sur les marchés obligataires mondiaux, en appliquant des Critères ESG. |
| Politique d’investissement | Le Fonds investit au moins 70 % de sa Valeur liquidative dans des titres de créance, y compris les obligations de catégorie « investment grade », les obligations à haut rendement, les titres non cotés et les titres adossés à des actifs. Ces titres peuvent être émis par des gouvernements et leurs agences, ainsi que des autorités publiques, des entités quasi- souveraines, des organismes supranationaux et des entreprises. Les émetteurs de ces titres, qui peuvent être libellés dans n’importe quelle devise, peuvent être établis dans n’importe quel pays, y compris dans les marchés émergents. Alors que la duration totale du Fonds ne sera pas négative, le Fonds peut avoir une duration négative dérivée des marchés individuels à revenu fixe. Le Fonds peut investir jusqu’à concurrence d’un maximum combiné de 100 % de sa Valeur liquidative dans des titres dont la notation est inférieure à « investment grade » et des titres non notés. La qualité de crédit ne fait l’objet d’aucune restriction à l’égard des titres de créance dans lesquels le Fonds peut investir. Le Fonds peut investir dans des titres de créance chinois onshore libellés en CNY et négociés sur le Marché obligataire interbancaire chinois. Le Fonds peut également détenir jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels et jusqu’à concurrence de 20 % de sa Valeur liquidative dans des titres adossés à des actifs. Les expositions en devises dans le Fonds sont généralement en EUR ou couvertes en EUR. Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et en atteignant un Résultat ESG positif, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds peut également investir indirectement via des fonds (c’est-à-dire des OPCVM et d’autres OPC, y compris des fonds gérés par M&G), et peut investir dans d’autres valeurs mobilières telles que des obligations à court terme et des instruments du marché monétaire à des fins de gestion de la liquidité, des liquidités et des quasi-liquidités. Le Fonds peut utiliser des instruments dérivés à des fins d’investissement, de gestion efficace du portefeuille et de couverture. Ces instruments peuvent comprendre, sans pour autant s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des options, des swaps de défaut de crédit, des swaps sur rendement total et des swaps de taux d’intérêt. |
| Stratégie d’investissement | Approche d’investissement Le Fonds est un fonds obligataire flexible qui investit dans un large éventail de titres de créance du monde entier. Le Gestionnaire des Investissements recherche la valeur en s’exposant à des flux de revenu optimaux sur les marchés obligataires mondiaux. Le Gestionnaire des Investissements commence par une évaluation descendante de l’environnement macroéconomique, y compris les évolutions probables de la croissance, de |

|  | l’inflation et des taux d’intérêt. Les résultats de cette analyse fournissent des informations permettant de décider du positionnement du Fonds quant à sa duration et à sa répartition entre les différentes catégories d’actifs obligataires. La sélection de crédits individuels s’effectue conjointement avec l’équipe interne d’analystes de crédit, qui fournit une analyse ascendante des marchés obligataires afin de compléter les points de vue du Gestionnaire des Investissements. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / Durable. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Un indice composite comprenant : - 1/3 de l’indice Bloomberg MSCI Global Agg Treasury ESG BB+ Sustainable SRI Bond(couvert en EUR) ;
- 1/3 de l’indice Bloomberg MSCI Global Agg Corporate ESG BB+ Sustainable SRI Bond(couvert en EUR) ;
- 1/3 de l’indice Bloomberg MSCI Global High Yield ESG BB+ Sustainable SRI Bond (couvert en EUR).
 L’indice de référence est un comparateur à l’aune duquel la performance du Fonds peut être mesurée. L’indice composite a été sélectionné comme indice de référence du Compartiment, car il reflète le mieux la portée de la politique d’investissement du Compartiment. L’indice de référence ne limite pas la construction du portefeuille du Compartiment. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut à son entière discrétion choisir quels investissements acheter, détenir ou vendre au sein du Fonds. Les participations du Fonds peuvent différer de manière significative des composantes de l’indice de référence. Le Gestionnaire des Investissements se reporte à l’indice de référence lors de la construction du portefeuille du Fonds, mais n’est pas assujetti aux règles de l’indice de référence lors de la sélection des investissements. Des informations supplémentaires sur l’indice de référence sont	disponibles	à	l’adresse	suivante : www.bloomberg.com/professional/product/indices/bloomberg-fixed-income-indices/#/ucits. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et aux investisseurs institutionnels qui souhaitent allier revenu et croissance du capital dans un portefeuille de titres de créance, et qui recherchent un fonds qui applique des Facteurs ESG et qui compte des principales incidences négatives lors de l’investissement. |

|  | Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| --- | --- |
| Devise de référence | EUR |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 200 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base semestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de taux d’intérêt
- Risques de change et de taux de change
- Risque lié aux marchés émergents
- Risque lié à la Chine
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux instruments dérivés
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux positions à découvert
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,25 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 1,75 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | Jusqu’à 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | Jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,25 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Sustainable Optimal Income Bond Fund
Identifiant d’entité juridique : 
254900JKCO00UZ0A2X81

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental : %
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social : %
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 51 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ? 
Le Fonds encourage le recours à une Approche d’exclusion et à une stratégie permettant d’atteindre un Résultat ESG positif (telles que définies ci-dessous):
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société et de l’aider à parvenir à des résultats plus durables. Pour les investissements titrisés tels que les titres adossés à des actifs (ABS), cela inclut également leur évaluation par la méthodologie de notation exclusive du Gestionnaire d’investissement (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme causant un préjudice important aux objectifs environnementaux et/ou sociaux.
Le Fonds a généralement une notation ESG moyenne pondérée plus élevée et une intensité carbone moyenne pondérée plus faible que celles d’un indice utilisé comme une mesure de son univers d’investissement (« Résultat ESG positif »). La méthodologie de calcul du Fonds ne comprend pas les titres qui ne disposent pas respectivement de données relatives à l’intensité carbone, ni les liquidités, ni les quasi-liquidités, ni certains instruments dérivés ni certains organismes de placement collectif.
Dans le cadre de la construction d’un portefeuille qui favorise les investissements présentant de meilleures caractéristiques ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG restantes au sein de l’univers restreint. Au niveau des titres individuels, le Gestionnaire d’investissement privilégie les investissements qui présentent de meilleures caractéristiques ESG sous réserve que cela n’affecte pas de manière préjudiciable la poursuite de l’objectif d’investissement financier.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants:
- Approche d’exclusion: Pourcentage (%) de la VL détenu dans des investissements exclus
- Approche d’exclusion: Pourcentage (%) d’ABS en dessous du seuil d’alignement du Gestionnaire d’investissement
- Résultat ESG positif: Note ESG moyenne pondérée du portefeuille par rapport à la note ESG moyenne pondérée de l’univers d’investissement
- Résultat ESG positif: Intensité carbone moyenne pondérée du portefeuille par rapport à l’intensité carbone moyenne pondérée de l’univers d’investissementQuels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?

Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds. Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les considérations de durabilité, qui englobent les facteurs ESG, sont entièrement intégrées dans l’analyse et les décisions d’investissement, et elles jouent un rôle important dans la détermination de l’univers d’investissement et de la construction du portefeuille. Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement évalue ensuite les caractéristiques ESG des autres émetteurs. Sur la base d’une combinaison de notations ESG externes et de l’évaluation du Gestionnaire d’investissement, les émetteurs les moins bien notés classés comme « retardataires ESG » sont exclus.
- À partir de cet univers d’investissement restreint, le Gestionnaire d’investissement effectue des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement. Le Gestionnaire d’investissement privilégie les émetteurs présentant de meilleures caractéristiques ESG lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus aboutit généralement à la constitution d’un portefeuille présentant de meilleures caractéristiques ESG. Dans le cadre de la construction d’un portefeuille qui favorise les investissements présentant de meilleures caractéristiques ESG, le Gestionnaire d’investissement peut néanmoins investir sur l’ensemble des notations ESG restantes au sein de l’univers restreint.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
20%
Même si tout engagement concernant le taux minimal visant à réduire la portée des investissements pris en compte avant l’application de la stratégie d’investissement en raison des exclusions du Fonds a vocation à être contraignant, tel que cela est déterminé en tenant compte des exclusions du Fonds servant de mesure de l’univers d’investissement (telle qu’un indice financier) échappant au contrôle du Gestionnaire d’investissement, et étant donné que des exclusions supplémentaires nécessiteront une mise à jour des documents du fonds, il est possible que le Fonds ne soit pas tenu d’honorer cet engagement pendant une durée limitée.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 51% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
Les activités alignées sur la taxinomie sont exprimées en pourcentage :
- du chiffre d’affaires pourrefléter la part des revenus provenant des activités vertes des sociétés bénéficiaires des investissements.
- des dépenses d’investissement (CapEx)pour montrer les investissements verts réalisés par les sociétés bénéficiaires des investissements, pour une transition vers une économie verte par exemple.
- des dépenses d’exploitation(OpEx) pour refléter les activités opérationnelles vertes des sociétés bénéficiaires des investissements.

La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les produits dérivés peuvent être considérés comme alignés sur les caractéristiques environnementales et/ou sociales promues selon les principes suivants:
Exclusions:
- Lorsqu’un instrument dérivé représente une exposition à un seul nom, l’investissement doit être autorisé pour le Fonds.
- Lorsqu’un instrument dérivé représente une exposition à un indice financier diversifié, il doit fournir un alignement manifeste avec les caractéristiques promues.

Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités, des fonds du marché monétaire, des devises, des instruments dérivés de taux d’intérêt et des instruments dérivés similaires (qui peuvent inclure certaines opérations techniques telles que des contrats à terme sur obligations d’État utilisés pour les opérations de duration) en tant qu’investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés (hors opérations techniques) et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Dynamic Allocation Fund
| Date de lancement | 16 janvier 2018 |
| --- | --- |
| Objectif d’investissement | Jusqu’au 15 février 2023 Le Fonds vise à dégager un rendement total positif (la combinaison de la croissance du revenu et du capital) de 5 à 10 % par an sur toute période de trois ans, par le biais d’investissements dans une gamme d’actifs mondiaux. À partir du 16 février 2023 Le Fonds vise à dégager un rendement total positif (la combinaison de la croissance du revenu et du capital) de 5 à 10 % par an sur toute période de trois ans, par le biais d’investissements dans une gamme d’actifs mondiaux tout en appliquant des Critères ESG. |
| Politique d’investissement | Jusqu’au 15 février 2023 Le Fonds adopte une approche d’investissement hautement flexible et a la liberté d’investir dans différents types d’actifs émis n’importe où dans le monde et libellés dans n’importe quelle devise. Le Fonds utilisera généralement des instruments dérivés afin d’être exposé à ces actifs. Le Fonds pourra aussi faire usage des instruments dérivés pour prendre des positions courtes (détenir des instruments dérivés dans le but d’obtenir un rendement positif lorsque la valeur des actifs auxquels ils sont liés diminue) et être exposé aux investissements excédant sa Valeur liquidative en vue d’accroître son potentiel de rendement sur des marchés haussiers comme baissiers. Le Fonds peut investir dans des Actions A chinoises via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Exchange, ou, à compter du 1er février 2023, via le statut QFI accordé au Gestionnaire des Investissements. Le Fonds pourra aussi investir directement dans ces actifs, ou indirectement par le biais d’autres organismes de placement collectif. Le Fonds peut aussi investir dans des devises, liquidités, quasi-liquidités, dépôts et warrants. Le Gestionnaire des Investissements cherchera généralement à conserver plus de 30 % de la Valeur liquidative du Fonds investie dans des actifs libellés en euros (ou dans d’autres devises couvertes en euros). En outre, le Gestionnaire des Investissements cherchera à conserver un minimum de 60 % de la Valeur liquidative du Fonds investie dans une combinaison d’actifs libellés en dollars américains, livres sterling et euros (il peut s’agir de positions directes ou couvertes). Le Fonds investira normalement dans les fourchettes d’allocation nette suivantes : 0 à 80 % en titres à revenu fixe, 20 à 60 % en actions et 0 à 20 % dans « d’autres » actifs. Les instruments à revenu fixe dans lesquels le Fonds peut investir comprennent : - des instruments dérivés dont la valeur provient d’obligations, de taux d’intérêt oude risque de crédit ;
- des obligations émises ou garanties par des sociétés, des gouvernements, des collectivités territoriales, des agences gouvernementales ou certains organismes publics internationaux ;
- des obligations d’émetteurs situés dans des marchés émergents ;
- des titres de créance chinois onshore libellés en CNY négociés sur le marché obligataire interbancaire chinois ;
- des obligations qui sont cotées investment grade par une agence de notation reconnue ;
 |

- des obligations non cotées et des obligations dont la notation est inférieure à investment grade, jusqu’à concurrence de 60 % de la Valeur liquidative du Fonds ; et
- des titres adossés à des actifs, jusqu’à 20 % de la Valeur liquidative du Fonds.

Les actions dans lesquelles le Fonds peut investir peuvent comprendre (a) des instruments dérivés dont la valeur provient d’actions de sociétés et (b) directement des actions de sociétés.
D’autres actifs, à cette fin, incluent des obligations convertibles et des titres de créance convertibles conditionnels. Les titres de créance convertibles conditionnels ne doivent pas dépasser 5 % de la Valeur liquidative du Fonds. Figurent également dans les autres actifs, principalement afin de fournir une source de rendement au Fonds relativement non corrélée, des actions dans des fonds d’investissement immobilier fermés ou des investissements dans des sociétés actives dans le secteur de l’immobilier et/ou des infrastructures.
Des instruments dérivés pourront être utilisés pour atteindre l’objectif d’investissement du Fonds, à des fins de couverture et à des fins de gestion efficace du portefeuille. Les instruments dérivés dans lesquels le Fonds peut investir pour atteindre ses objectifs incluent, sans s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des swaps, des swaps de défaut de crédit, des options et des swaps sur rendement total.
À partir du 16 février 2023
Le Fonds a une approche d’investissement très flexible et la liberté d’investir dans différents types d’actifs émis n’importe où dans le monde et libellés dans n’importe quelle devise.
Le Fonds investira normalement dans les fourchettes d’allocation nette suivantes : 0 à 80 % en titres à revenu fixe, 20 à 60 % en actions et 0 à 20 % dans d’« autres » actifs.
Le Fonds utilisera généralement des produits dérivés pour obtenir une exposition à ces actifs. Le Fonds peut également utiliser des produits dérivés pour prendre des positions courtes (par la détention de produits dérivés visant à fournir un rendement positif lorsque les actifs auxquels ils sont liés évoluent à la baisse) et pour obtenir une exposition aux investissements dépassant la Valeur liquidative du Fonds afin d’accroître les rendements potentiels à la fois sur des marchés haussiers et baissiers. Des produits dérivés peuvent être utilisés pour réaliser l’objectif d’investissement du Fonds, à des fins de couverture et pour une gestion efficace de portefeuille. Les instruments dérivés dans lesquels le Fonds peut investir pour atteindre des objectifs peuvent inclure, sans toutefois s’y limiter, les contrats au comptant, les contrats à terme négociés de gré à gré, les contrats à terme négociés en bourse, les swaps, les swaps de défaut de crédit, les options et les swaps sur rendement total.
Le Fonds peut aussi investir directement dans ces actifs ou indirectement par le biais d’autres organismes de placement collectif. Le Fonds peut également investir dans des devises, des liquidités, des quasi-liquidités, des dépôts et des warrants. Le Gestionnaire des Investissements visera normalement à détenir plus de 30 % de la Valeur liquidative du Fonds dans des actifs libellés en EUR (ou d’autres devises couvertes en EUR). En outre, le Gestionnaire des Investissements s’efforcera de détenir un minimum de 60 % de la Valeur liquidative du Fonds dans une combinaison d’actifs libellés en USD, en GBP et en EUR (il peut s’agir de positions directes ou couvertes).
Les instruments à revenu fixe dans lesquels le Fonds peut investir incluent :
- des produits dérivés dont la valeur découle d’obligations, de taux d’intérêt ou durisque de crédit ;

|  | - des obligations émises ou garanties par des entreprises, des gouvernements, des autorités locales, des agences gouvernementales ou certains organismes internationaux publics ;
- des obligations d’émetteurs situés dans des marchés émergents ;
- des obligations onshore chinoises libellées en CNY négociées sur le Marché obligataire interbancaire chinois ;
- des obligations notées « Investment grade » par une agence de notation reconnue ;
- des obligations non notées et des obligations dont la notation est inférieure à« investment grade », jusqu’à 60 % de la Valeur liquidative du Fonds ; et
- des titres adossés à des actifs, jusqu’à 20 % de la Valeur liquidative du Fonds.
 Les instruments de capitaux propres dans lesquels le Fonds peut investir comprennent (a) des instruments dérivés dont la valeur provient d’actions de sociétés et (b) des actions directes de sociétés. Le Fonds peut investir dans des Actions A chinoises via le Shanghai- Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Exchange ou, à compter du 1er février 2023, via le statut QFI accordé au Gestionnaire des Investissements. Les autres actifs, à cette fin, comprennent d’autres valeurs mobilières qui ne constituent pas des titres à revenu fixe ou des instruments de capitaux propres, des obligations convertibles et des titres de créance convertibles conditionnels. Les titres de créance convertibles conditionnels sont soumis à un maximum de 5 % de la Valeur liquidative du Fonds. Sont également inclus dans les « autres actifs », essentiellement afin de fournir une source relativement non corrélée de rendements pour le Fonds, les actions dans des fonds de placement immobilier de type fermé ou les investissements dans des sociétés opérant dans l’immobilier et/ou dans le secteur des infrastructures. Le Fonds cherche à réaliser des investissements qui répondent aux critères ESG, en appliquant une approche d’exclusion, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| --- | --- |
| Stratégie d’investissement | Approche d’investissement Jusqu’au 15 février 2023 Le Gestionnaire des Investissements adopte une approche top-down très flexible de la répartition du capital entre les différents types d’actifs en réponse à l’évolution des conditions économiques et de la valeur des actifs. Cette approche combine une recherche approfondie pour déterminer la valeur des actifs à moyen et long terme, à une analyse des réactions du marché aux événements pour identifier les occasions d’investissement. En particulier, le gestionnaire cherche à répondre lorsque les prix des actifs s’éloignent d’une estimation raisonnable de leur juste valeur à long terme en raison de réactions du marché aux événements. Le Fonds cherche à gérer le risque en investissant dans plusieurs catégories d’actifs, secteurs, devises et pays du monde entier. Lorsque le Gestionnaire des Investissements estime que les opportunités sont concentrées dans un nombre restreint de domaines, le portefeuille peut être très concentré dans certains actifs ou marchés. Le Fonds prendra généralement des positions d’investissement au niveau d’indices ou de secteurs, mais il peut aussi investir dans des actions ou obligations individuelles. Le Gestionnaire des Investissements pense que cette approche a le potentiel d’offrir une volatilité annualisée (le degré selon lequel la valeur du Fonds fluctue au cours d’une période de 12 mois) entre 5 % et 12 %. À partir du 16 février 2023 |

|  | Le Gestionnaire des Investissements a adopté une approche descendante particulièrement flexible de la répartition du capital entre les différents types d’actifs en réaction à l’évolution des conditions économiques et de la valeur des actifs. Cette approche combine une recherche approfondie pour déterminer la valeur des actifs à moyen et long terme, à une analyse des réactions du marché aux événements pour identifier les opportunités d’investissement. En particulier, le gestionnaire cherche à répondre lorsque les prix des actifs s’éloignent d’une estimation raisonnable de leur juste valeur à long terme en raison de réactions du marché aux événements. Le Fonds vise à gérer le risque en investissant à l’échelle mondiale à travers plusieurs catégories d’actifs, secteurs, devises et pays. Lorsque le Gestionnaire des Investissements estime que les opportunités sont limitées à quelques domaines, le portefeuille peut être fortement concentré sur certains actifs ou marchés. Le Fonds prendra généralement des positions au niveau de l’indice ou du secteur, mais pourra aussi se positionner sur des actions ou des obligations individuelles. Le Gestionnaire des Investissements estime que cette approche est susceptible de générer une volatilité annualisée (le degré de fluctuation de la valeur du Fonds sur toute période de 12 mois) comprise entre 5 % et 12 %. Jusqu’au 15 février 2023 Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. À partir du 16 février 2023 Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+/ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Jusqu’au 15 février 2023 Règlement SFDR Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. À partir du 16 février 2022 |

|  | Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| --- | --- |
| Indice de référence | Le Fonds fait l’objet d’une gestion active et n’a pas d’indice de référence. Les investisseurs peuvent évaluer la performance du Fonds par le biais de son objectif qui consiste à fournir un rendement total de 5 à 10 % par an sur toute période de trois ans. |
| Profil de l’investisseur type | Jusqu’au 15 février 2023 Les investisseurs types peuvent être des investisseurs particuliers, professionnels ou des Investisseurs institutionnels à la recherche d’un rendement total (la combinaison de la croissance du revenu et du capital), mais capables d’assumer le risque économique de perte de leur investissement dans le Fonds. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir aux investisseurs qui disposent d’un horizon d’investissement d’au moins trois ans. À partir du 16 février 2023 Les investisseurs types peuvent être des investisseurs particuliers, professionnels ou institutionnels à la recherche d’un rendement total (la combinaison de la croissance du revenu et du capital), mais capables d’assumer le risque économique de perte de leur investissement dans le Fonds et qui souhaitent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir aux investisseurs qui disposent d’un horizon d’investissement d’au moins trois ans. |
| Devise de référence | EUR |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 250 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |

| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions, le Fonds versera des dividendes sur une base trimestrielle. |
| --- | --- |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié aux instruments dérivés
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux positions à découvert
- Risque de crédit
- Risques de change et de taux de change
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux marchés émergents
- Chine
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,75 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,25 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,75 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,75 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,75 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Dynamic Allocation Fund
Identifiant d’entité juridique : 
549300PZ80BI5Q8OS924

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ?
Le Fonds encourage le recours à une Approche d’exclusion (telle que définie ci-dessous):
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société. Pour les investissements titrisés tels que les titres adossés à des actifs (ABS), cela inclut également leur évaluation par la méthodologie de notation exclusive du Gestionnaire d’investissement (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants:
- Approche d’exclusion: Pourcentage (%) de la VL détenu dans des investissements exclus
- Approche d’exclusion: Pourcentage (%) d’ABS en dessous du seuil d’alignement du Gestionnaire d’investissementQuels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?

Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les investissements à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- À partir de cet univers d’investissement restreint, le Gestionnaire d’investissement alloue le capital entre différents types d’actifs conformément au processus expliqué ci-dessus. Au sein de chaque catégorie d’actifs, le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement.

Les Critères ESG du Fonds s’appliquent au moins à:
- 90% des actions émises par des sociétés à grande capitalisation dans des pays développés, des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit « investment grade », et des titres de créance souverains émis par des pays développés ;
- 75% des actions émises par des sociétés à grande capitalisation dans des pays émergents, des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays, des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, et des titres de créance souverains émis par des pays des marchés émergents.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0%
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70% du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20% du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les produits dérivés peuvent être considérés comme alignés sur les caractéristiques environnementales et/ou sociales promues selon les principes suivants:
Exclusions:
- Lorsqu’un instrument dérivé représente une exposition à un seul nom, l’investissement doit être autorisé pour le Fonds.
- Lorsqu’un instrument dérivé représente une exposition à un indice financier diversifié, il doit fournir un alignement manifeste avec les caractéristiques promues.

Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0%
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5%
Quelle est la part minimale d’investissements socialement durables ?
5%
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités, des fonds du marché monétaire, des devises, des instruments dérivés de taux d’intérêt et des instruments dérivés similaires (qui peuvent inclure certaines opérations techniques telles que des contrats à terme sur obligations d’État utilisés pour les opérations de duration) en tant qu’investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés (hors opérations techniques) et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Episode Macro Fund
| Date de lancement | 26 octobre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à obtenir un rendement total annuel (la combinaison de la croissance du capital et du revenu) de 4 à 8 % supérieur à celui du LIBOR USD à 3 mois sur toute période de cinq ans. |
| Politique d’investissement | Le Fonds a une approche d’investissement très flexible, qui lui permet d’investir librement dans des titres à revenu fixe, des actions (y compris des fiducies de placement immobilier à durée indéterminée), des obligations convertibles, des titres adossés à des actifs, des devises, des liquidités, des quasi-liquidités et des dépôts. Ces actifs peuvent être émis n’importe où dans le monde, y compris les marchés émergents, et être libellés dans n’importe quelle devise. Le Fonds obtiendra principalement son exposition à ces actifs en prenant des positions d’investissement au niveau d’un indice ou d’un secteur à travers des instruments dérivés, mais il pourra également investir directement. Le Fonds peut également utiliser des instruments dérivés pour prendre des positions acheteur ou vendeur sur des marchés, des devises, des titres et des groupes de titres et pour accroître l’exposition à des investissements dépassant sa Valeur liquidative afin d’accroître les rendements potentiels sur des marchés à la fois en hausse et en baisse. Ceci peut entraîner une position nette acheteur ou vendeur au niveau global du Fonds. Le Fonds peut investir jusqu’à concurrence d’un maximum combiné de 60 % de sa Valeur liquidative dans des titres inférieurs à « investment grade » et non cotés. La qualité de crédit ne fait l’objet d’aucune restriction à l’égard des titres de créance dans lesquels le Fonds peut investir. Le Fonds peut investir dans des Actions A chinoises via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Connect. Le Fonds peut investir dans des titres de créance chinois onshore libellés en CNY et négociés sur le Marché obligataire interbancaire chinois. Le Fonds peut investir jusqu’à 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels et jusqu’à 20 % de sa Valeur liquidative dans des titres adossés à des actifs. Le Gestionnaire des Investissements cherche à répartir le capital entre les différents types d’actifs en réponse aux opportunités d’investissement créées par l’évolution des conditions économiques et de la valeur des actifs. La répartition de l’actif peut évoluer de manière notable et rapide, et l’exposition à certains marchés, secteurs ou devises peut parfois être concentrée. La volatilité à court terme du Fonds peut alors être élevée. Des instruments dérivés pourront être utilisés pour atteindre l’objectif d’investissement du Fonds, ainsi qu’à des fins de gestion efficace du portefeuille et de couverture. Ces instruments peuvent comprendre, sans toutefois s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des options, des swaps de devises, des swaps de défaut de crédit, des swaps de taux d’intérêt, des titres indexés sur un risque de crédit et des swaps sur rendement total. Le Fonds peut également investir dans d’autres actifs, dont des organismes de placement collectif, des warrants et d’autres valeurs mobilières. |

| Stratégie d’investissement | Approche d’investissement Le Gestionnaire des Investissements adopte une approche top-down hautement flexible de la répartition du capital entre les différents types d’actifs en réponse à l’évolution des conditions économiques et de la valeur des actifs, guidé par un cadre d’évaluation robuste. Cette approche combine une recherche approfondie pour déterminer la valeur des actifs à moyen et long terme, à une analyse des réactions du marché aux événements pour identifier les opportunités d’investissement. En particulier, le Gestionnaire des Investissements cherche à répondre aux opportunités créées lorsque les prix des actifs s’éloignent d’une estimation raisonnable de leur juste valeur en raison de réactions du marché aux événements. Si la volatilité à court terme du Fonds est élevée, le Gestionnaire des Investissements devra s’attendre à ce que cette approche sur cinq ans entraîne une volatilité inférieure à celle des actions mondiales (telles que représentées par l’indice MSCI ACWI). Le Gestionnaire des Investissements cherche à atteindre l’objectif d’investissement en générant des rendements supérieurs à la position neutre du Fonds sur des liquidités. Si toutes les catégories d’actifs semblent avoir un prix neutre et qu’il n’y a pas d’opportunités épisodiques, le Fonds est susceptible de détenir des positions de trésorerie importantes, comme le reflète l’indice de référence. Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Règlement SFDR Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. |
| Indice de référence | SOFR, majoré de 4-8 % L’indice de référence est un objectif que le Fonds cherche à atteindre. Ce taux a été choisi en tant qu’indice de référence du Fonds, car il s’agit d’un objectif de performance atteignable qui reflète au mieux la portée de la politique d’investissement du Fonds. L’indice de référence est utilisé uniquement pour mesurer l’objectif de performance du Fonds et n’engendre aucune contrainte dans la construction du portefeuille. Le Compartiment fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut choisir à son entière discrétion les actifs qu’il souhaite acheter, détenir et vendre au sein du Fonds. L’indice de référence est présenté dans la devise de la Catégorie d’Actions, tel qu’indiqué dans le tableau ci-après. |

|  | Catégorie d’Actions	Comparateur de performance CHF / couvert en CHF   SARON, majoré de 4-8 % EUR / couvert en EUR	ESTR, majoré de 4-8 % GBP / couvert en GBP	SONIA, majoré de 4-8 % L’indice de référence utilisé dans l’objectif d’investissement et en tant que comparateur de performance du Fonds est cohérent avec les indices monétaires utilisés comme Taux de rendement minimal de la Commission de performance par devise. Étant donné qu’il n’est pas possible de convertir le SOFR en différentes variations de devises, un indice monétaire approprié a été sélectionné au titre de comparateur de performance et Taux de rendement minimal pour chaque Devise de Catégorie d’Actions. Les indices monétaires utilisés comme comparateurs de performance / Taux de rendement minimal de la Commission de performance ne seront pas exactement égaux au SOFR, mais visent à représenter l’indice monétaire le plus pertinent pour chaque Devise de Catégorie d’Actions et à rendre compte du rendement de l’investissement par rapport à un équivalent monétaire pertinent pour les investisseurs selon la Devise de la Catégorie d’Actions concernée. |
| --- | --- |
| Profil de l’investisseur type | Les investisseurs types peuvent être des investisseurs particuliers, professionnels ou des Investisseurs institutionnels dotés probablement d’expérience et ayant pour objectif la croissance du capital, mais tout en étant capables d’assumer le risque économique de perte de leur investissement dans le Fonds. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. Les Catégories d’Actions avec Commission de performance du Fonds ne sont pas adaptées pour les investisseurs uniquement concentrés sur le Retail Execution. |
| Devise de référence | USD |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 350 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions, le Fonds versera des dividendes sur une base trimestrielle. |

| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de taux d’intérêt
- Risque lié aux instruments dérivés
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux positions à découvert
- Risque lié aux marchés émergents
- Chine
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux Commissions de performance des Catégories d’ActionsPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |
| --- | --- |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| B | 2,25 % | - | - | - | - | 0,05 % | 0,15 % |
| S | 1,75 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| SI | 1,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| T | 0,75 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| TI | 0,75 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| X | 1,75 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Commission de performance
Une Commission de performance sera prélevée sur les Catégories d’Actions T et TI.
Veuillez vous reporter au tableau ci-dessous pour connaître les indices de référence utilisés dans le calcul de la Commission de performance.
Le Rendement minimal initial de chaque Catégorie d’Actions pertinente correspondra à sa Valeur liquidative par Action calculée à la date de son lancement ajustée d’un 365e du Taux de rendement minimal du jour précédent, ou correspondra à la High Water Mark des Catégories d’Actions pertinentes ajustée d’un 365e du Taux de rendement minimal du jour précédent, la valeur la plus élevée étant retenue.
Les investisseurs sont invités à se reporter à l’Annexe 2 pour de plus amples informations sur la méthode de calcul des Commissions de performance et à lire les informations « Risque lié aux Commissions de performance des Catégories d’Actions » à la section « Facteurs de risque ».
| Catégories d’actions concernées | Commission de performance | Mécanisme | Taux de rendement minimal de la Commission de performance |
| --- | --- | --- | --- |
| USD | 20 % | High Water Mark | SOFR |
| CHF / couvert en CHF | 20 % | High Water Mark | SARON |
| EUR / couvert en EUR | 20 % | High Water Mark | ESTR |
| GBP / couvert en GBP | 20 % | High Water Mark | SONIA |

Les Taux de rendement minimal de la Commission de performance sélectionnés ci-dessus sont appropriés, car le Gestionnaire des Investissements cherche à atteindre l’objectif d’investissement du Fonds en générant des rendements supérieurs à la position neutre du Fonds sur des liquidités.
Les Commissions de performance sont provisionnées sur une base nette de frais lorsque la Valeur liquidative par Action est supérieure au Taux de rendement minimal et à la High Water Mark, c’est-à-dire avant que l’objectif d’investissement du Fonds ne soit atteint.

### M&G (Lux) Global Target Return Fund
| Date de lancement | 21 décembre 2016 |
| --- | --- |
| Objectif d’investissement | Le Fonds vise à atteindre un rendement total (la combinaison des revenus et de la croissance du capital) au moins égal au taux du marché monétaire* plus 2-4 % par an, avant déduction des frais**, quelles que soient les conditions du marché et sur toute période de trois ans. Le Fonds vise à atteindre ce rendement tout en cherchant à minimiser le degré de fluctuation de sa valeur au cours du temps (volatilité), et en essayant de limiter les pertes mensuelles. Cette gestion de la volatilité du Fonds réduit sa capacité à obtenir des rendements nettement supérieurs à l’Euribor à trois mois, majoré de 2-4 % par an. * sur la base de l’Euribor 3 mois, le taux auquel les banques s’accordent mutuellement des prêts. ** les investisseurs sont invités à se reporter à la section  «  Frais et charges  » . |
| Politique d’investissement | Le Fonds adopte une approche d’investissement hautement flexible et a la liberté d’investir dans différents types d’actifs d’investissement émis n’importe où dans le monde. Le Fonds investira principalement dans les catégories d’actifs suivantes : obligations, actions, devises, liquidités, quasi-liquidités et des dépôts. Le Fonds obtiendra principalement son exposition à ces actifs en investissant dans des instruments dérivés, mais pourra également investir directement. Le Fonds pourra aussi investir par l’intermédiaire d’autres organismes de placement collectif. Dans les cas où le Gestionnaire des Investissements estime que les occasions d’investissement sont limitées à quelques domaines, ou lorsque les occasions d’investissement disponibles ajouteraient trop de risque au Fonds, le Fonds pourra détenir temporairement des niveaux de liquidité élevés. Le Fonds pourra prendre des positions courtes (détenir des instruments dérivés dans le but d’obtenir un rendement positif lorsque la valeur des actifs auxquels ils sont liés diminue) sur des marchés, des devises, des titres, des indices et d’autres groupes de titres. Le Fonds sera également libre d’obtenir une exposition à des investissements excédant sa Valeur liquidative en vue d’accroître son potentiel de rendement sur des marchés haussiers comme baissiers. Des instruments dérivés pourront être utilisés pour atteindre l’objectif d’investissement du Fonds et à des fins de gestion efficace du portefeuille. Les instruments dérivés dans lesquels le Fonds peut investir incluent des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des swaps, des swaps de défaut de crédit, des options et des swaps sur rendement total. Les obligations dans lesquelles le Fonds peut investir comprennent : - des obligations émises ou garanties par des sociétés, des États, des autorités locales, des agences gouvernementales ou certains organismes publics internationaux ainsi que des obligations convertibles et des obligations d’émetteurs situés dans des marchés émergents ;
- des titres de créance chinois onshore libellés en CNY négociés sur le marché obligataire interbancaire chinois ;
- des obligations dont la note attribuée par une agence de notation reconnue est supérieure à la catégorie investment grade ; et
- des obligations dont la note est inférieure à la catégorie investment grade et des obligations non notées, jusqu’à concurrence de 60 % de la Valeur liquidative duFonds.
 |

|  | Le Fonds peut investir jusqu’à 10 % de sa Valeur liquidative dans des titres adossés à des actifs et jusqu’à 20 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels. Le Fonds peut également investir dans d’autres dépôts et warrants pouvant être émis partout dans le monde et libellés dans n’importe quelle devise. |
| --- | --- |
| Stratégie d’investissement | Approche d’investissement Le Gestionnaire des Investissements adopte une approche top-down très flexible de la répartition du capital entre les différents types d’actifs en réponse à l’évolution des conditions économiques et de la valeur des actifs. Cette approche combine une recherche approfondie pour déterminer la valeur des actifs à moyen et long terme, à une analyse des réactions du marché aux événements pour identifier les occasions d’investissement. En particulier, le gestionnaire cherche à répondre lorsque les prix des actifs s’éloignent d’une estimation raisonnable de leur juste valeur à long terme en raison de réactions du marché aux événements. |
|  | Le mélange d’actifs détenus dans le Fonds est ajusté régulièrement en fonction de là où le Gestionnaire des Investissements estime qu’il existe le plus de valeur et pour gérer les risques afin de limiter les pertes. Le Gestionnaire des Investissements cherchera à gérer les risques en investissant mondialement dans de nombreux (ses) catégories d’actifs, secteurs, devises et pays, et en combinant des actifs diversifiés et relativement peu corrélés (qui sont des actifs affectés par les conditions du marché de manières différentes). Le Gestionnaire des Investissements emploiera également des stratégies d’instruments dérivés pour aider à protéger le portefeuille ou profiter d’une baisse des marchés. |
|  | Le Fonds prendra généralement des positions d’investissement au niveau d’indices ou de secteurs, ou investira dans un panier d’actifs afin d’exploiter certains thèmes d’investissement (par exemple des actions dans des sociétés qui sont exposées à un certain pays ou à une certaine région), mais il pourra également prendre des positions sur des actions ou des obligations individuelles. |
|  | Le Gestionnaire des Investissements pense que cette approche a le potentiel de limiter les pertes mensuelles à moins de 3 % dans des conditions normales à tendues, et à moins de 6 % dans des conditions très tendues. Le Gestionnaire des Investissements pense que le fonds a le potentiel d’offrir une volatilité annualisée (le degré selon lequel la valeur du Fonds fluctue au cours d’une période de 12 mois) entre 3 % et 7 %. |
|  | Approche d’investissement responsable |
|  | Le Fonds est classé ESG intégré. |
|  | La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Règlement SFDR Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie |

|  | Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. |
| --- | --- |
| Indice de référence | Euribor à trois mois, majoré de 2-4 % L’indice de référence est un objectif que le Fonds cherche à atteindre. Le taux a été choisi en tant qu’indice de référence du Fonds car il s’agit d’un objectif de performance atteignable sur la base de l’approche d’investissement du Fonds. L’indice de référence est utilisé uniquement pour mesurer l’objectif de performance du Fonds et n’engendre aucune contrainte dans la construction du portefeuille. Le Compartiment fait l’objet d’une gestion active. Le Gestionnaire des Investissements peut choisir à son entière discrétion les actifs qu’il souhaite acheter, détenir et vendre au sein du Fonds. L’indice de référence est présenté dans la devise de la Catégorie d’Actions, tel qu’indiqué dans le tableau ci-après. Catégorie d’Actions	Comparateur de performance CHF / couvert en CHF  SARON, majoré de 2-4 % GBP / couvert en GBP  SONIA, majoré de 2-4 % USD / couvert en USD  SOFR, majoré de 2-4 % |
| Profil de l’investisseur type | Les investisseurs types peuvent être des investisseurs particuliers, professionnels ou des Investisseurs institutionnels capables d’assumer le risque économique de perte de leur investissement dans le Fonds et qui acceptent le risque de capital et de revenu. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir aux investisseurs qui disposent d’un horizon d’investissement d’au moins trois ans. |
| Devise de référence | EUR |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 350 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |

| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié aux instruments dérivés
- Risque lié à l’exposition supérieure à la valeur liquidative
- Risque lié aux positions à découvert
- Risques de change et de taux de change
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux marchés émergents
- Chine
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnelsPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |
| --- | --- |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,25 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| B | 1,75 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,50 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,50 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,50 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,50 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,25 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.

### M&G (Lux) Income Allocation Fund
| Date de lancement | 16 janvier 2018 |
| --- | --- |
| Objectif d’investissement | Jusqu’au 15 février 2023 Le Fonds vise à dégager une croissance du revenu sur toute période de trois ans par le biais d’investissements dans une gamme d’actifs mondiaux. Le Fonds vise également à réaliser une croissance du capital comprise entre 2 et 4 % par an sur toute période de trois ans. À partir du 16 février 2023 Le Fonds vise à dégager une croissance du revenu sur toute période de trois ans par le biais d’investissements dans une gamme d’actifs mondiaux. Le Fonds vise également à réaliser une croissance du capital comprise entre 2 et 4 % par an sur toute période de trois ans tout en appliquant des Critères ESG. |
| Politique d’investissement | Jusqu’au 15 février 2023 Le Fonds adopte une approche d’investissement hautement flexible et a la liberté d’investir dans différents types d’actifs émis n’importe où dans le monde et libellés dans n’importe quelle devise. Le Fonds investira généralement dans des actifs générateurs de revenus des classes d’actifs suivantes : titres à revenu fixe, actions, liquidités et dépôts. Le Fonds peut aussi investir dans des devises, des quasi-liquidités et des warrants. Le Gestionnaire des Investissements cherchera généralement à conserver plus de 70 % de la Valeur liquidative du Fonds investie dans des actifs libellés en euros ou dans d’autres devises couvertes en euros. L’exposition du Fonds à ces actifs sera principalement réalisée de manière directe. Le Fonds pourra aussi investir indirectement par l’intermédiaire d’autres organismes de placement collectif et par le biais d’instruments dérivés. Des instruments dérivés pourront être utilisés pour atteindre l’objectif d’investissement du Fonds, à des fins de couverture et à des fins de gestion efficace du portefeuille. Le Fonds pourra prendre des positions courtes synthétiques (détenir des instruments dérivés dans le but d’obtenir un rendement positif lorsque la valeur des actifs auxquels ils sont liés diminue) sur des marchés, des devises, des titres, des indices et d’autres groupes de titres. Le Fonds peut investir dans des Actions A chinoises via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Connect. Le Fonds investira normalement dans les fourchettes d’allocation nette suivantes : 40 à 80 % en titres à revenu fixe, 10 à 50 % en actions et 0 à 20 % dans d’autres actifs. Les instruments à revenu fixe dans lesquels le Fonds peut investir comprennent : - des obligations émises ou garanties par des sociétés, des gouvernements, des collectivités territoriales, des agences gouvernementales ou certains organismes publics internationaux ;
- des obligations d’émetteurs situés dans des marchés émergents ;
- des titres de créance chinois onshore libellés en CNY négociés sur le marché obligataire interbancaire chinois ;
- des obligations qui sont cotées investment grade par une agence de notation reconnue ;
 |

- des obligations non notées et des obligations dont la notation est inférieure à investment grade, jusqu’à concurrence de 40 % de la Valeur liquidative du Fonds ;
- des titres adossés à des actifs, jusqu’à 10 % de la Valeur liquidative du Fonds ; et
- des instruments dérivés dont la valeur provient d’obligations, de taux d’intérêtou de risque de crédit.

Les actions dans lesquelles le Fonds peut investir peuvent comprendre (a) directement des actions de sociétés et (b) des instruments dérivés dont la valeur provient d’actions de sociétés.
D’autres actifs, à cette fin, incluent des obligations convertibles et des titres de créance convertibles conditionnels. Le Fonds peut investir jusqu’à concurrence de 5 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels.
Des instruments dérivés pourront être utilisés pour atteindre l’objectif d’investissement du Fonds, à des fins de couverture et à des fins de gestion efficace du portefeuille. Les instruments dérivés dans lesquels le Fonds peut investir pour atteindre ses objectifs incluent, sans s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des swaps, des swaps de défaut de crédit, des options et des swaps sur rendement total.
À partir du 16 février 2023
Le Fonds a une approche d’investissement très flexible et la liberté d’investir dans différents types d’actifs émis n’importe où dans le monde et libellés dans n’importe quelle devise.
Le Fonds investira normalement dans les fourchettes d’allocation nette suivantes : 40 à 80 % en titres à revenu fixe, 10 à 50 % en actions et 0 à 20 % en « autres » actifs.
Le Fonds investira généralement dans des actifs générateurs de revenus émanant des catégories d’actifs suivantes : titres à revenu fixe, actions, liquidités et dépôts. Le Fonds peut également investir dans des devises, quasi-liquidités et warrants. Le Gestionnaire des Investissements visera normalement à détenir plus de 70 % de la Valeur liquidative du Fonds dans des actifs libellés en EUR (ou d’autres devises couvertes en EUR).
L’exposition du Fonds à ces actifs sera surtout obtenue directement. Le Fonds peut également investir indirectement par le biais d’autres organismes de placement collectif et via des produits dérivés. Des produits dérivés peuvent être utilisés pour réaliser l’objectif d’investissement du Fonds à des fins de couverture et pour une gestion efficace de portefeuille. Le Fonds peut prendre des positions synthétiques courtes (par la détention d’instruments financiers dérivés dans le but de fournir un rendement positif lorsque les actifs sont indexés sur la baisse de valeur) sur des marchés, des devises, des titres, des indices et d’autres groupes de titres.
Les instruments à revenu fixe dans lesquels le Fonds peut investir incluent :
- des obligations émises ou garanties par des entreprises, des gouvernements, des autorités locales, des agences gouvernementales ou certains organismes internationaux publics ;
- des obligations d’émetteurs situés dans des marchés émergents ;
- des obligations onshore chinoises libellées en CNY négociées sur le Marché obligataire interbancaire chinois ;
- des obligations notées « Investment grade » par une agence de notation reconnue ;
- des obligations non notées et des obligations dont la notation est inférieure à« investment grade », jusqu’à 40 % de la Valeur liquidative du Fonds ; et

|  | - des titres adossés à des actifs, jusqu’à 10 % de la Valeur liquidative du Fonds.
- des produits dérivés dont la valeur découle d’obligations, de taux d’intérêt oudu risque de crédit ;Les instruments de capitaux propres dans lesquels le Fonds peut investir comprennent(a) des actions directes de sociétés et (b) des instruments dérivés dont la valeur provient d’actions de sociétés. Le Fonds peut investir dans des Actions A chinoises via le Shanghai-Hong Kong Stock Connect et le Shenzhen-Hong Kong Stock Exchange.
 Les autres actifs, à cette fin, comprennent d’autres valeurs mobilières qui ne constituent pas des titres à revenu fixe ou des instruments de capitaux propres, des obligations convertibles et des titres de créance convertibles conditionnels. Le Fonds peut investir jusqu’à 5 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels. Le Fonds cherche à réaliser des investissements qui répondent aux Critères ESG, en appliquant une approche d’exclusion, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Des instruments dérivés peuvent être utilisés pour réaliser l’objectif d’investissement du Fonds, à des fins de couverture et pour une gestion efficace de portefeuille. Les instruments dérivés dans lesquels le Fonds peut investir pour atteindre des objectifs peuvent inclure, sans toutefois s’y limiter, les contrats au comptant, les contrats à terme négociés de gré à gré, les contrats à terme négociés en bourse, les swaps, les swaps de défaut de crédit, les options et les swaps sur rendement total. |
| --- | --- |
| Stratégie d’investissement | Approche d’investissement Jusqu’au 15 février 2023 Le Gestionnaire des Investissements adopte une approche top-down très flexible de la répartition du capital entre les différents types d’actifs en réponse à l’évolution des conditions économiques et de la valeur des actifs. Cette approche combine une recherche approfondie pour déterminer la valeur des actifs à moyen et long terme, à une analyse des réactions du marché aux événements pour identifier les opportunités d’investissement. En particulier, le gestionnaire cherche à répondre lorsque les prix des actifs s’éloignent d’une estimation raisonnable de leur juste valeur à long terme en raison de réactions du marché aux événements. Le Fonds cherche à gérer le risque en investissant dans plusieurs catégories d’actifs, secteurs, devises et pays du monde entier. Lorsque le Gestionnaire des Investissements estime que les opportunités sont concentrées dans un nombre restreint de domaines, le portefeuille peut être très concentré dans certains actifs ou marchés. Le Fonds prendra généralement des positions dans des actions ou obligations individuelles, mais il peut aussi prendre des positions d’investissement au niveau d’indices ou de secteurs. Le Fonds vise à générer un niveau croissant de revenus en investissant dans des actifs qui offrent un revenu régulier comme des actions de sociétés qui versent des dividendes, des obligations d’entreprises et des obligations d’État. Le Gestionnaire des Investissements pense que cette approche a le potentiel d’offrir une volatilité annualisée (le degré selon lequel la valeur du Fonds fluctue au cours d’une période de 12 mois) entre 4 % et 8 % et un rendement annuel brut estimé de 4 %, basé sur le revenu brut, avant la retenue à la source, devant être perçu sur les investissements sous-jacents du Fonds, en pourcentage du cours actuel de la part du Fonds. |

|  | À partir du 16 février 2023 Le Gestionnaire des Investissements a adopté une approche descendante particulièrement flexible de la répartition du capital entre les différents types d’actifs en réaction à l’évolution des conditions économiques et de la valeur des actifs. Cette approche combine une recherche approfondie pour déterminer la valeur des actifs à moyen et long terme, à une analyse des réactions du marché aux événements pour identifier les opportunités d’investissement. En particulier, le gestionnaire cherche à répondre lorsque les prix des actifs s’éloignent d’une estimation raisonnable de leur juste valeur à long terme en raison de réactions du marché aux événements. Le Fonds vise à gérer le risque en investissant à l’échelle mondiale à travers plusieurs catégories d’actifs, secteurs, devises et pays. Lorsque le Gestionnaire des Investissements estime que les opportunités sont limitées à quelques domaines, le portefeuille peut être fortement concentré sur certains actifs ou marchés. Le Fonds prendra généralement des positions d’investissement dans des actions ou des obligations individuelles, mais il peut également prendre des positions au niveau de l’indice ou du secteur. Le Fonds vise à générer un niveau de revenu croissant en investissant dans des actifs qui offrent un revenu régulier, tels que des actions de sociétés versant des dividendes, des obligations d’entreprises et des obligations d’État. Le Gestionnaire des Investissements estime que cette approche peut générer une volatilité annualisée (le degré de fluctuation de la valeur du Fonds sur toute période de 12 mois) comprise entre 4 % et 8 %, et un rendement annuel brut estimé de 4 %, basé sur le revenu brut, avant retenue à la source, que les investissements sous-jacents du Fonds devraient générer, en pourcentage du cours actuel des actions du Fonds. Jusqu’au 15 février 2023 Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. À partir du 16 février 2023 Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+/ESG Enhanced. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Jusqu’au 15 février 2023 Règlement SFDR Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie |

|  | Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. À partir du 16 février 2023 Le Fonds est classé en tant que fonds relevant de l’Article 8 du Règlement SFDR et promeut des caractéristiques environnementales et/ou sociales, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. |
| --- | --- |
| Indice de référence | Le Fonds fait l’objet d’une gestion active et n’a pas d’indice de référence. Les investisseurs peuvent évaluer la performance du Fonds par le biais de son objectif qui consiste à fournir un rendement total de 2 à 4 % par an sur toute période de trois ans. |
| Profil de l’investisseur type | Jusqu’au 15 février 2023 Les investisseurs types peuvent être des investisseurs particuliers, professionnels ou des Investisseurs institutionnels visant la croissance du revenu et du capital, mais capables d’assumer le risque économique de perte de leur investissement dans le Fonds. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir aux investisseurs qui disposent d’un horizon d’investissement d’au moins trois ans. À partir du 16 février 2023 Les investisseurs types peuvent être des investisseurs particuliers, professionnels ou institutionnels à la recherche d’une croissance du revenu et du capital, mais qui peuvent supporter le risque économique de la perte de leur investissement dans le Fonds et qui souhaitent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir aux investisseurs qui disposent d’un horizon d’investissement d’au moins trois ans. |
| Devise de référence | EUR |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 100 % de la Valeur liquidative du Fonds. |

|  | L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| --- | --- |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base mensuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de taux d’intérêt
- Risques de change et de taux de change
- Risque lié aux marchés émergents
- Chine
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux instruments dérivés
- Risque lié aux positions à découvert
- Risque de liquidité
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section « Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,50 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,00 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,65 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,65 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,65 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,65 % | - | - | - | - | 0,01 % | 0,15 % |
| K | - | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,50 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2a du Règlement (UE) 2019/2088 et à l’article 6, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Income Allocation Fund
Identifiant d’entité juridique : 
5493009TGYUIY117XO13

#### Caractéristiques environnementales et/ou sociales
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental :
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social :
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de 20 % d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quelles sont les caractéristiques environnementales et/ou sociales promues par ce produit financier ?
Le Fonds encourage le recours à une Approche d’exclusion (telle que définie ci-dessous) :
Le Fonds exclut certains placements potentiels de son univers d’investissement afin d’atténuer les éventuels effets négatifs sur l’environnement et la société. Pour les investissements titrisés tels que les titres adossés à des actifs (ABS), cela inclut également leur évaluation par la méthodologie de notation exclusive du Gestionnaire d’investissement (« Approche d’exclusion »). Par conséquent, le Gestionnaire d’investissement fait la promotion des caractéristiques environnementales et/ou sociales en excluant certains investissements qui sont considérés comme préjudiciables aux facteurs ESG.
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Aucun indice de référence n’a été désigné dans le but d’atteindre les caractéristiques environnementales et/ou sociales promues par le Fonds.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les indicateurs de durabilité sélectionnés pour illustrer le respect des caractéristiques environnementales et/ou sociales promues sont les suivants :
- Approche d’exclusion : Pourcentage (%) de la VL détenu dans des investissements exclus
- Approche d’exclusion : Pourcentage (%) d’ABS en dessous du seuil d’alignement du Gestionnaire d’investissementQuels sont les objectifs des investissements durables que le produit financier a l’intention de réaliser en partie et comment l’investissement durable contribue-t-il à ces objectifs ?

Le Fonds peut investir dans des investissements durables de tout type, c’est-à-dire des investissements ayant un objectif environnemental et/ou social. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable.
Le Gestionnaire d’investissement utilise une série de tests exclusifs basés sur les données disponibles pour déterminer si et comment un investissement apporte une contribution positive aux objectifs environnementaux et sociaux.
Les principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.
Comment les investissements durables que le produit financier a l’intention de réaliser partiellement ne causent-ils pas de préjudice important à un objectif d’investissement durable environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment :
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables
- Les indicateurs des Principales incidences négatives considérés comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité)
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds.
Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
La taxinomie de l’Union européenne définit le principe de « ne pas causer de préjudice important » selon lequel les investissements alignés sur la taxinomie ne doivent pas causer de préjudice important aux objectifs de taxinomie de l’UE et il s’accompagne de critères spécifiques de l’UE.
Le principe consistant à « ne pas causer de préjudice important » s’applique uniquement aux investissements sous- jacents au produit financier qui prennent en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. Les investissements sous-jacents à la portion restante de ce produit financier ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental.
Tout autre investissement durable ne doit pas non plus causer de préjudice important à un objectif environnemental ou social.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
Les aspects liés aux Facteurs ESG font partie intégrante des analyses et des décisions d’investissement.
Afin d’identifier les investissements à acheter, le Gestionnaire d’investissement réduit l’univers d’investissement potentiel comme suit :
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- À partir de cet univers d’investissement restreint, le Gestionnaire d’investissement alloue le capital entre différents types d’actifs conformément au processus expliqué ci-dessus. Au sein de chaque catégorie d’actifs, le Gestionnaire d’investissement effectue ensuite des analyses supplémentaires, en tenant compte notamment des facteurs ESG, afin d’identifier et de tirer parti des opportunités d’investissement.

Les Critères ESG du Fonds s’appliquent au moins à :
- 90 % des actions émises par des sociétés à grande capitalisation dans des pays développés, des titres de créance, des instruments du marché monétaire assortis d’une notation de crédit « investment grade », et des titres de créance souverains émis par des pays développés ;
- 75 % des actions émises par des sociétés à grande capitalisation dans des pays émergents, des actions émises par des sociétés à petite et moyenne capitalisation dans n’importe quel pays, des titres de créance, des instruments du marché monétaire ayant des notations de crédit à haut rendement, et des titres de créance souverains émis par des pays des marchés émergents.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin de réaliser chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds :
- Les exclusions du Fonds ;
- Le montant du Fonds aligné sur les caractéristiques environnementales et/ou sociales promues, tel qu’énoncé dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? » ; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ».

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Quel est le taux minimum d’engagement visant à réduire la portée des investissements pris en compte avant l’application de cette stratégie d’investissement ?
0 %
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute un test de bonne gouvernance quantitatif basé sur des données dans sa prise en compte des investissements dans les sociétés. M&G exclut les investissements dans des titres considérés comme ne satisfaisant pas au test de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs prévue pour ce produit financier ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement s’attend à ce qu’au moins 70 % du Fonds soit aligné sur les caractéristiques E/S promues. Au moins 20 % du Fonds sera consacré à des Investissements durables.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Aligné sur les caractéristiques E/S
#2 Autres
#1A Durables
#1B Autres caractéristiques E/S
Autres aspects environnementaux
Sociaux
#1 Aligné sur les caractéristiques E/S comprend les investissements du produit financier utilisés pour réaliser les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres comprend les investissements restants du produit financier qui ne sont pas alignés sur les caractéristiques environnementales ou sociales et ne sont pas considérés comme des investissements durables.
La catégorie #1 Aligné sur les caractéristiques E/S couvre :
- La sous-catégorie #1A Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
- La sous-catégorie #1B Autres caractéristiques E/S couvre les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérées comme des investissements durables.

Comment l’utilisation de produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?
Les produits dérivés peuvent être considérés comme alignés sur les caractéristiques environnementales et/ou sociales promues selon les principes suivants :
Exclusions :
- Lorsqu’un instrument dérivé représente une exposition à un seul nom, l’investissement doit être autorisé pour le Fonds.
- Lorsqu’un instrument dérivé représente une exposition à un indice financier diversifié, il doit fournir un alignement manifeste avec les caractéristiques promues.

Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
0 %
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0 %, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0 %
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
5 %
Quelle est la part minimale d’investissements socialement durables ?
5 %
Quels sont les investissements inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités, des fonds du marché monétaire, des devises, des instruments dérivés de taux d’intérêt et des instruments dérivés similaires (qui peuvent inclure certaines opérations techniques telles que des contrats à terme sur obligations d’État utilisés pour les opérations de duration) en tant qu’investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés (hors opérations techniques) et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus pour toute raison permise par la politique d’investissement du Fonds et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Le Fonds peut également détenir, au titre de la catégorie Autres, des investissements dont les données sont insuffisantes pour déterminer leur alignement avec les caractéristiques promues.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés avec les caractéristiques promues, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour déterminer si ce produit financier est conforme aux caractéristiques environnementales et/ou sociales qu’il promeut ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence est-il continuellement aligné sur chacune des caractéristiques environnementales ou sociales promues par le produit financier ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Sustainable Allocation Fund
| Date de lancement | 29 novembre 2018 |
| --- | --- |
| Objectif d’investissement | Le Fonds a deux objectifs : - Objectif financier : fournir un rendement total annuel (la combinaison de la croissance du capital et du revenu) de 4 à 8 % sur toute période de cinq ans.
- Objectif de durabilité : contribuer à une économie durable en investissant dans des actifs encourageant des objectifs environnementaux et/ou sociaux, en particulier la réduction du changement climatique.
 |
| Politique d’investissement | Le Fonds investit dans un ensemble diversifié de catégories d’actifs, tels que des actions, des titres rattachés à des actions, des titres de créance, des liquidités et des quasi-liquidités. Ces investissements peuvent être effectués n’importe où dans le monde, y compris dans des marchés émergents, et peuvent être libellés dans n’importe quelle devise. En règle générale, le Fonds détient entre 20 % et 60 % de sa Valeur liquidative dans des actions et des titres rattachés à des actions, 20 à 80 % dans des titres de créance et 0 à 20 % dans d’autres actifs. Les investissements du Fonds peuvent inclure : - jusqu’à 40 % de sa Valeur liquidative dans des titres dont la notation est inférieure à investment grade et des titres de créance non notés. La qualité de crédit ne fait l’objet d’aucune restriction à l’égard des titres de créance dans lesquels le Fonds peut investir.
- jusqu’à 10 % de sa Valeur liquidative dans des titres adossés à des actifs ;
- jusqu’à 5 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels ;
- des actions A chinoises par le biais du Shanghai-Hong Kong Stock Connect et du Shenzhen- Hong Kong Stock Connect ;
- des titres de créance chinois onshore libellés en CNY négociés sur le Marché obligataire interbancaire chinois.
 Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et en atteignant un Résultat ESG positif, en plus de sa stratégie d’investissement durable utilisée dans le cadre de la réalisation de l’objectif d’investissement durable, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds investit généralement au moins 20 % et entre 20 et 50 % de sa Valeur liquidative dans des actifs à incidence positive, sans exposition maximale. Le Fonds peut également investir indirectement au travers d’autres organismes de placement collectif (y compris des fonds gérés par M&G) et d’instruments dérivés. Le Fonds cherchera généralement à conserver plus de 70 % de sa Valeur liquidative investie dans des actifs libellés en euros ou dans d’autres devises couvertes en euros. Le Fonds peut utiliser des instruments dérivés à des fins d’investissement, de gestion efficace du portefeuille et de couverture. Ces instruments peuvent comprendre, sans pour autant s’y limiter, des contrats au comptant, des contrats à terme négociés de gré à gré, des contrats à terme négociés en bourse, des swaps de défaut de crédit, des swaps de taux d’intérêt et des swaps sur rendement total. |

| Stratégie d’investissement | Approche d’investissement L’approche du Fonds en matière d’investissement durable est expliquée dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds cherche à gérer le risque par le biais d’une allocation d’actifs flexible, en investissant à l’échelle mondiale dans plusieurs catégories d’actifs, ainsi que dans différents secteurs, devises et pays, en réponse à l’évolution des conditions économiques et des valeurs d’actif. Cette approche combine la recherche pour déterminer la valeur anticipée des actifs à moyen et long terme avec l’analyse des réactions du marché aux événements afin d’identifier les opportunités d’investissement. La volatilité annualisée du Fonds devrait atteindre entre 4 et 9 % sur toute période de cinq ans. Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / Durable. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| --- | --- |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 9 du Règlement SFDR, et des informations sur ses investissements durables figurent dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Le Fonds fait l’objet d’une gestion active et n’a pas d’indice de référence. Les investisseurs peuvent évaluer la performance du Fonds par le biais de son objectif qui consiste à fournir un rendement total de 4 à 8 % par an sur toute période de cinq ans. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels à la recherche d’un rendement total (croissance du capital plus revenu) par le biais d’un portefeuille multi-actifs diversifié, qui place les capitaux de manière durable en investissant dans des actifs à impact positif et des sociétés et des États qui respectent des normes élevées en matière de comportement ESG, et qui recherchent un fonds qui applique des Facteurs ESG et tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que les objectifs du Fonds seront atteints. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |
| Devise de référence | EUR |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |

| Calcul de l’exposition globale | VaR absolue |
| --- | --- |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 100 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions, le Fonds versera des dividendes sur une base trimestrielle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de taux d’intérêt
- Risque de liquidité
- Risque de contrepartie
- Risque lié aux marchés émergents
- Chine
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux instruments dérivés
- Risque lié aux positions à découvert
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| A | 1,50 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,00 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,60 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,60 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | jusqu’à 0,60 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | jusqu’à 0,60 % | - | - | - | - | 0,01 % | 0,15 % |
| L | 0,35 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| LI | 0,35 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,50 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |

| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 9, paragraphes 1 à 4a, du Règlement (UE) 2019/2088 et à l’article 5, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Sustainable Allocation Fund
Identifiant d’entité juridique : 
549300G7EE7U31UKHL78

#### Objectif d’investissement durable
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental : 30 %
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social : 20 %
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de
% d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quel est l’objectif d’investissement durable de ce produit financier ?
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Contribuer à une économie durable en investissant dans des actifs appuyant des objectifs environnementaux et/ou sociaux, en particulier l’atténuation des changements climatiques.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de l’objectif d’investissement durable de ce produit financier ?
Indicateurs de durabilité au niveau du Fonds
Le Gestionnaire d’investissement surveillera les indicateurs ci-dessous qui s’appliqueront aux investissements globaux et il en rendra compte.
- Atténuation des changements climatiques et solutions environnementales:
- Variation de l’intensité des émissions de CO2 au cours de la période de trois ans précédente (taux de croissance annualisé composé au cours des trois dernières années) (entreprises et institutions souveraines).
- Pourcentage (%) de parties souveraines à l’accord de Paris (institutions souveraines).
- Intensité carbone moyenne pondérée (entreprises).
- Pourcentage (%) d’émetteurs privés avec des objectifs fondés sur la science ratifiés en vertu de la Science Based Target Initiative (SBTi) ou d’un équivalent tel qu’évalué par le Gestionnaire d’investissement (entreprises).
- Pourcentage (%) d’émetteurs privés participant au Carbon Disclosure Project (CDP) (entreprises).
- Tonnes d’émissions de CO2 évitées par des investissements à impact positif (entreprises et institutions souveraines).
- Sociaux
- Pourcentage (%) de titres de créance souverains classés au-dessus de la moyenne mondiale de l’indice de progrès social (IPS), qui évalue dans quelle mesure une société pourvoit aux besoins matériels de ses citoyens, et n’affiche pas une tendance négative sur 5 ans (institutions souveraines)
- Nombre de personnes sous-médicalisées atteintes, y compris les patients traités, les clients pris en charge, etc., par des investissements à impact positif (entreprises et institutions souveraines)
- Pour les actifs à impact positif:
- Pourcentage (%) de la VL investi dans des actifs à impact positif au sein du FondsIndicateurs de durabilité au niveau des titresAu moins un des indicateurs suivants s’appliquera à chaque investissement durable effectué par le Fonds. Le Gestionnaire d’investissement n’est pas tenu d’examiner la totalité des indicateurs de durabilité ci-dessous dans le cadre de l’analyse de chaque investissement durable ni d’en rendre compte.
- Émissions d’entreprise
	- Atténuation des changements climatiques:

- Si l’entreprise a des objectifs fondés sur la science ratifiés en vertu de la Science Based Target Initiative (SBTi) ou d’un équivalent tel qu’évalué par le Gestionnaire d’investissement
- D’après les évaluations, l’émetteur présente un alignement actuel de la température inférieur ou égal à 1,5 °C pour prouver l’alignement avec les méthodologies scientifiques actuelles destinées à faire face aux changements climatiques
- Si l’émetteur participe au Carbon Disclosure Project (CDP)
- D’après les évaluations de cette émission, plus de 20% des revenus proviennent de n’importe quel thème d’impact sur l’environnement du changement climatique, y compris l’énergie alternative, l’efficacité énergétique ou la construction écologique
- Environnementaux autres
- La note du pilier Environnement ESG de l’émetteur est d’au moins 7,1, telle que déterminée par MSCI
- Pourcentage (%) des revenus de l’émetteur évalués comme étant liés à des thèmes environnementaux au- delà de 20%
- L’émission est une obligation environnementale verte telle que vérifiée par l’alignement sur la Climate Bonds Initiative (CBI), l’Association internationale des marchés de capitaux (ICMA) ou une autre norme appropriée telle qu’acceptée par le Gestionnaire d’investissement
- L’émetteur est un producteur d’énergie renouvelable
- Sociaux
- La note du pilier social ESG de l’émetteur est d’au moins 7,1 (leader), telle que déterminée par MSCI
- L’émetteur est signataire du Pacte mondial des Nations unies
- La diversité du conseil d’administration de l’émetteur dépasse 33%
- Pourcentage (%) des revenus de l’émetteur évalués comme étant liés à des thèmes sociaux au-delà de 20%
- Nombre de personnes sous-médicalisées atteintes, y compris les patients traités, les clients pris en charge, etc.
- Alignement sur les Objectifs de développement durable des Nations Unies (« ODD »):
- Le Gestionnaire d’investissement peut évaluer si un investissement est aligné sur un ou plusieurs des 17 ODD, en utilisant des indicateurs appropriés pour déterminer la force de cet alignement.
- Émissions souveraines
	- Atténuation des changements climatiques et solutions environnementales:

- La note du Climate Change Performance Index (CCPI) de l’institution souveraine n’est pas « très faible »
- L’institution souveraine est partie à l’accord de Paris et à la Convention des Nations unies sur la diversité biologique
- Environnementaux autres
- La note du pilier Environnement ESG de l’institution souveraine est d’au moins 7,1 (leader), telle que déterminée par MSCI
- L’émission est une obligation environnementale verte telle que vérifiée par alignement à la CBI, à l’ICMA ou à une autre norme appropriée telle qu’acceptée par le Gestionnaire d’investissement
- Sociaux
- La note du pilier Social ESG de l’émetteur étant d’au moins 7,1 (leader), telle que déterminée par MSCI
- L’émission est une obligation sociale telle que vérifiée par l’alignement sur l’ICMA ou une autre norme appropriée telle qu’acceptée par le Gestionnaire d’investissement
- L’institution souveraine est classée au-dessus de la moyenne mondiale de l’indice de progrès social (IPS), qui évalue dans quelle mesure une société pourvoit aux besoins matériels de ses citoyens, et n’affiche pas une tendance négative sur 5 ans
- L’institution souveraine a pleinement ratifié l’ensemble des 8 conventions de l’Organisation internationale du travail (OIT) relatives aux droits de l’hommeLes principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.

Dans quelle mesure les investissements durables ne causent-ils pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment:
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables.
- Les indicateurs des Principales incidences négatives considèrent comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité).
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds. Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
Quelle stratégie d’investissement ce produit financier suit-il ?
L’approche du Fonds en matière d’investissement passe par une allocation flexible des actifs, mise en œuvre en investissant dans des titres de sociétés ou de gouvernements qui respectent des normes élevées du point de vue du comportement ESG. Le Fonds conserve également une participation de base dans des investissements considérés comme ayant un impact positif en répondant aux principaux défis sociaux et environnementaux de la planète (« Actifs à impact positif »). Le Fonds investit généralement 20 à 50% de sa valeur liquidative dans des actifs à impact positif, avec un minimum de 20% et sans exposition maximale.
Les Actifs à impact positif sont évalués selon la méthodologie d’évaluation d’impact du Gestionnaire d’investissement (« Méthodologie d’impact ») décrite ci-dessous.
La Méthodologie d’impact est axée sur trois critères:
- Caractéristiques des investissements: la qualité et la pérennité du modèle d’affaires de la société et sa capacité à générer des rendements économiques durables;
- Intention: l’objectif de la société tel que le démontre l’harmonisation de son énoncé de mission avec ses actions et sa stratégie d’entreprise; et
- Impact: l’ampleur de l’impact sociétal net positif et les progrès de l’entreprise dans la résolution des problèmes d’égalité sociale.

Les résultats de la Méthodologie d’impact permettent au Fonds d’être alloué aux trois types d’investissement suivants:
- Les « pionniers », dont les produits ou services ont ou pourraient avoir un effet transformationnel sur l’égalité sociale.
- Les « facilitateurs », qui fournissent aux autres les outils nécessaires pour favoriser l’égalité sociale.
- Les « leaders », qui sont à la tête du développement durable dans les secteurs qui valorisent l’égalité sociale, mais qui peuvent avoir une rentabilité plus établie que les pionniers.

L’engagement du Gestionnaire d’investissement auprès des sociétés dans lesquelles le Fonds investit est fondamental pour l’approche d’investissement.
Le Fonds a généralement une intensité carbone moyenne pondérée plus faible que celle du marché des actions mondiales (« Résultat ESG positif »).
Les considérations de durabilité, qui englobent les facteurs ESG, sont entièrement intégrées dans l’analyse et les décisions d’investissement, et elles jouent un rôle important dans la détermination de l’univers d’investissement et de la construction du portefeuille.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit au départ l’univers d’investissement potentiel comme suit:
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement évalue ensuite les caractéristiques de durabilité des autres sociétés:
	- a) Selon les critères ESG du portefeuille, le Gestionnaire d’investissement évalue et note les caractéristiques ESG des titres restants sur la base des notations ESG externes et de l’évaluation du Gestionnaire d’investissement. Les titres les moins bien notés, qui sont considérés comme des retardataires ESG, sont exclus et le Gestionnaire d’investissement favorise les émetteurs présentant de meilleures caractéristiques ESG.
	- b) Les actifs à impact positif sont évalués à l’aide de la Méthodologie d’impact.

- À partir de l’univers d’investissement restreint, le Gestionnaire d’investissement alloue le capital entre différents types d’actifs conformément au processus expliqué ci-dessus. Au sein de chaque catégorie d’actifs, le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces investissements et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.
- Le Gestionnaire d’investissement privilégie les émetteurs présentant l’intensité carbone la plus faible lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus se traduit généralement par un portefeuille avec une intensité carbone inférieure à celle du marché des actions mondial. Dans le cadre de la construction d’un portefeuille favorisant des investissements présentant une intensité carbone plus faible, le Gestionnaire d’investissement peut néanmoins investir sur tout l’éventail de l’intensité carbone. La méthodologiede calcul du Fonds ne comprend pas les titres qui ne disposent pas respectivement de données relatives à l’intensité carbone, ni les liquidités, ni les quasi-liquidités, ni certains instruments dérivés ni certains organismes de placement collectif.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements en vue d’atteindre l’objectif d’investissement durable ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds:
- Les exclusions du Fonds;
- L’allocation des actifs du Fonds, telle qu’énoncée dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? »; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ». Veuillez noter que la part minimale des investissements durables dont l’objectif environnemental n’est pas aligné sur la taxonomie de l’UE n’est pas contraignante lorsqu’une détention est inférieure à ce minimum en raison du fait que des investissements alignés sur la taxonomie sont détenus à la place (dans la mesure où tous ces investissements sont des investissements durables avec des objectifs environnementaux).

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute des tests de bonne gouvernance quantitatifs basés sur les données dans sa prise en compte des investissements dans les sociétés. Le Gestionnaire d’investissement exclut les investissements dans des titres considérés comme ne satisfaisant pas aux tests de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs et la part minimale d’investissements durables ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement compte investir au moins 70% du Fonds dans des investissements durables, afin de réaliser l’objectif d’investissement durable. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable et peut investir dans des actifs appuyant n’importe quel objectif environnemental et/ou social, mais il accordera une attention particulière à l’atténuation des changements climatiques en utilisant des indicateurs de durabilité supplémentaires pour l’atténuation des changements climatiques, en mesurant les performances sur ces caractéristiques au niveau des fonds, c’est-à-dire même lorsqu’un investissement a été acheté pour atteindre un objectif social.
Le Fonds investira au moins 20% dans des investissements durables avec un objectif social et au moins 30% dans des investissements durables avec un objectif environnemental qui ne sont pas alignés sur la taxonomie de l’UE. Sous réserve de ces niveaux planchers, le Fonds peut investir de manière flexible entre les différents types d’investissements durables en fonction de la disponibilité et de l’attractivité des opportunités d’investissement, tout en maintenant l’allocation globale aux investissements durables ayant des objectifs environnementaux et/ou sociaux à un minimum de 70%.
Le Fonds investit généralement 20 à 50% de sa valeur liquidative dans des actifs à impact positif, avec un minimum de 20% et sans exposition maximale.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Durables
#2 Non durables
Environnementaux
Sociaux
Alignés sur la taxinomie
Autres
La catégorie #1 Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
Les activités alignées sur la taxinomie sont exprimées en pourcentage :
- du chiffre d’affaires pourrefléter la part des revenus provenant des activités vertes des sociétés bénéficiaires des investissements.
- des dépenses d’investissement (CapEx)pour montrer les investissements verts réalisés par les sociétés bénéficiaires des investissements, pour une transition vers une économie verte par exemple.
- des dépenses d’exploitation(OpEx) pour refléter les activités opérationnelles vertes des sociétés bénéficiaires des investissements.

La catégorie #2 Non durables inclut les investissements qui ne sont pas considérés comme des investissements durables.
Comment l’utilisation de produits dérivés atteint-elle l’objectif d’investissement durable ?
Les instruments dérivés ne sont considérés comme contribuant à l’objectif d’investissement durable que lorsque cette contribution peut être démontrée:
- Lorsqu’un instrument dérivé représente une exposition à un seul nom, l’investissement durable doit contribuer à l’objectif d’investissement durable du Fonds.
- Lorsqu’un instrument dérivé représente une exposition à un indice financier diversifié, la contribution de l’indice à l’objectif d’investissement durable doit être démontrée. Par exemple, les règles de l’indice peuvent l’amener à fonctionner de manière à proposer certaines caractéristiques qui sont considérées comme contribuant de manière positive à l’objectif d’investissement durable.

Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0%, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0%
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
30%
Quelle est la part minimale d’investissements durables ayant un objectif social ?
20%
Quels sont les investissements inclus dans la catégorie « #2 Non durables », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités, des fonds du marché monétaire, des devises, des instruments dérivés de taux d’intérêt et des instruments dérivés similaires (qui peuvent inclure certaines opérations techniques telles que des contrats à terme sur obligations d’État utilisés pour les opérations de duration) en tant qu’investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés (hors opérations techniques) et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus à des fins de couverture ou en relation avec des liquidités détenues à des fins de liquidité accessoire et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés sur l’objectif d’investissement durable, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour atteindre l’objectif d’investissement durable ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence tient-il compte des facteurs de durabilité afin d’être constamment aligné sur l’objectif d’investissement durable ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Sustainable Multi Asset Growth Fund
| Date de lancement | 7 décembre 2021 |
| --- | --- |
| Objectif d’investissement | Le Compartiment a deux objectifs : - Objectif financier : limiter la volatilité moyenne à 20 % par an sur toute période de cinq ans tout en offrant un rendement total (croissance du capital plus du revenu) ; et
- Objectif durable : contribuer à une économie durable en investissant dans des actifs soutenant des objectifs environnementaux et/ou sociaux, en particulier l’atténuation du changement climatique.
 |
| Politique d’investissement | Le Fonds est autorisé à investir dans un large éventail de catégories d’actifs, notamment des actions, des titres assimilés à des actions, des titres de créance, des liquidités et des quasi- liquidités. Ces investissements peuvent être effectués n’importe où dans le monde, y compris dans des marchés émergents, et peuvent être libellés dans n’importe quelle devise. En règle générale, le Fonds détient entre 55 % et 100 % de sa Valeur liquidative en actions et titres assimilés à des actions, mais aucune obligation n’incombe au Gestionnaire des Investissements concernant le maintien d’un niveau particulier d’exposition aux actions. Les investissements du Fonds peuvent inclure : - jusqu’à 40 % de sa Valeur liquidative dans des titres dont la notation est inférieure à investment grade et des titres de créance non notés. La qualité de crédit ne fait l’objet d’aucune restriction à l’égard des titres de créance dans lesquels le Fonds peut investir.
- jusqu’à 10 % de sa Valeur liquidative dans des titres adossés à des actifs ;
- jusqu’à 5 % de sa Valeur liquidative dans des titres de créance convertibles conditionnels ;
- des actions A chinoises par le biais du Shanghai-Hong Kong Stock Connect et du Shenzhen- Hong Kong Stock Connect ;
- des titres de créance chinois onshore libellés en CNY négociés sur le Marché obligataire interbancaire chinois.
 Le Fonds investit dans des titres qui répondent aux Critères ESG, en appliquant une approche d’exclusion et en atteignant un Résultat ESG positif, en plus de sa stratégie d’investissement durable utilisée dans le cadre de la réalisation de l’objectif d’investissement durable, tel que décrit dans l’annexe précontractuelle au Supplément de ce Fonds. Le Fonds investit généralement au moins 20 % et entre 20 et 50 % de sa Valeur liquidative dans des actifs à incidence positive, sans exposition maximale. Le Fonds peut également investir indirectement via des fonds (c’est-à-dire des OPCVM et d’autres OPC, y compris des fonds gérés par M&G), et peut investir dans d’autres valeurs mobilières telles que des obligations à court terme et des instruments du marché monétaire à des fins de gestion de la liquidité, des liquidités et des quasi-liquidités. Le Fonds cherchera généralement à conserver au moins 70 % de sa Valeur liquidative investie dans des actifs libellés en euros ou dans d’autres devises couvertes en euros. Le Fonds peut utiliser des instruments dérivés à des fins d’investissement, de gestion efficace du portefeuille et de couverture. Ces instruments peuvent inclure, sans toutefois s’y limiter, les contrats au comptant, les contrats à terme négociés de gré à gré, les contrats à terme négociés en Bourse, les swaps, les swaps de défaut de crédit, les options et les swaps sur rendement total. |

| Stratégie d’investissement | L’approche du Fonds en matière d’investissement durable est expliquée dans l’annexe précontractuelle au Supplément de ce Fonds. La volatilité est gérée en utilisant la recherche pour estimer la variation de valeur et du risque de différents types d’actifs. Le Fonds cherche à gérer la volatilité et le risque au moyen d’une allocation d’actifs flexible, en investissant dans plusieurs catégories d’actifs et dans plusieurs secteurs, devises et pays du monde entier, en fonction de l’évolution des conditions économiques et de la valeur des actifs. Cette approche combine des travaux de recherche visant à déterminer la valeur anticipée des actifs à moyen et long terme avec l’analyse des réactions du marché aux événements afin d’identifier les opportunités d’investissement. L’objectif de gestion de la volatilité du Fonds peut limiter les gains et les pertes potentiels. |
| --- | --- |
|  | Classification ESG du Gestionnaire des Investissements Le Fonds est classé Planet+ / Durable. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Le Fonds est classé en tant que fonds relevant de l’Article 9 du Règlement SFDR, et des informations sur ses investissements durables figurent dans l’annexe précontractuelle au Supplément de ce Fonds. |
| Indice de référence | Morningstar Euro Aggressive Allocation - Global L’indice de référence est un comparateur à l’aune duquel la performance financière du Fonds peut être mesurée. Il a été sélectionné comme indice de référence du Fonds car il reflète les aspects financiers de la politique d’investissement du Fonds. L’indice de référence comparateur ne limite pas la construction du portefeuille du Fonds. Le Fonds fait l’objet d’une gestion active. Le Gestionnaire des Investissements a la liberté de choisir quels investissements acheter, détenir ou vendre au sein du Fonds, sous réserve des restrictions fixées par l’objectif et la politique d’investissement du Fonds. L’indice de référence est présenté dans la devise de la catégorie d’actions. |
| Profil de l’investisseur type | Le Fonds peut convenir aux investisseurs particuliers et institutionnels à la recherche d’un rendement total (la combinaison de la croissance du revenu et du capital) par le biais d’un portefeuille multi-actifs diversifié présentant un profil de risque cohérent avec une exposition de 55 % à 100 % aux actions, qui place les capitaux de manière durable en investissant dans des actifs à impact positif et des sociétés et des États qui respectent des normes élevées en matière de comportement ESG, et qui recherchent un fonds qui applique des Facteurs ESG et qui tient compte des principales incidences négatives lors de l’investissement. Rien ne garantit que l’objectif du Fonds sera atteint. Les investisseurs qualifiés doivent savoir que leur capital est exposé à un risque et que la valeur de leur investissement et de tout revenu dérivé peut aussi bien augmenter que baisser. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. En outre, l’objectif de gestion de la volatilité du Fonds peut limiter les gains et les pertes potentiels. Ce Fonds peut convenir à des investisseurs qui disposent d’un horizon d’investissement d’au moins cinq ans. |

| Devise de référence | EUR |
| --- | --- |
| Catégories d’Actions couvertes contre le risque de change | Les Catégories d’Actions couvertes contre le risque de change de ce Fonds visent à réduire l’impact des fluctuations de taux de change entre la devise desdites Catégories et la Devise de référence du Fonds. |
| Calcul de l’exposition globale | VaR absolue |
| Effet de levier | Il est prévu que, dans des conditions normales de marché, l’effet de levier du Fonds, calculé selon l’approche de la somme des montants notionnels, soit égal à 100 % de la Valeur liquidative du Fonds. L’effet de levier peut parfois être plus élevé dans certaines circonstances, y compris, mais sans s’y limiter, lors de changements des conditions du marché de référence et de la stratégie d’investissement. |
| Politique de distribution | S’ils sont déclarés, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des dividendes sur une base annuelle. |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque de crédit
- Risque de taux d’intérêt
- Risque de liquidité
- Risque de contrepartie
- Risques de change et de taux de change
- Risque lié aux marchés émergents
- Risque lié à la Chine
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux instruments dérivés
- Risque lié aux positions à découvert
- Risque lié aux données ESGPour une description plus détaillée des risques, les investisseurs sont invités à lire la section« Facteurs de risque ».
 |

Catégories d’Actions disponibles pour émission
| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A | 1,50 % | 4,00 % | - | - | - | 0,05 % | 0,15 % |
| B | 2,00 % | - | - | - | - | 0,05 % | 0,15 % |
| C | 0,60 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| CI | 0,60 % | 1,25 % | - | - | - | 0,01 % | 0,15 % |
| J | Jusqu’à 0,60 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| JI | Jusqu’à 0,60 % | - | - | - | - | 0,01 % | 0,15 % |

| Catégorie d’Actions | Commission de gestion annuelle (taux annuel) | Frais initiaux | Commission de rachat | Commission de distribution | CDSC | Impôts locaux Taxe d’abonnement (taux annuel) | Commission d’administration (taux annuel maximum) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| L | 0,35 % | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| LI | 0,35 % | - | - | - | - | 0,01 % | 0,15 % |
| X | 1,50 % | - | - | 1,00 % | Voir le Calendrier des CDSC ci-dessous | 0,05 % | 0,15 % |
| Z | - | 1,25 % | - | - | - | 0,05 % | 0,15 % |
| ZI | - | - | - | - | - | 0,01 % | 0,15 % |

Les investisseurs doivent se reporter à la section intitulée « Informations importantes » qui peut faire référence à une exigence de souscription minimale différente pour les investisseurs d’un pays donné. Les Administrateurs sont libres de réduire ou d’annuler le montant de la Souscription minimale et le montant de la Souscription ultérieure minimale, à leur seule discrétion.
Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Les investisseurs de Catégories d’Actions couvertes contre le risque de change doivent savoir qu’une Commission de couverture de
Catégorie d’Actions de 0,01 % à 0,055 % sera prélevée.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée 
à l’adresse : www.mandg.com/classesinissue
.
Calendrier des CDSC
Les Actionnaires qui rachèteraient des Actions de Catégorie X dans les trois ans suivant la date de souscription initiale seront soumis à une CDSC déduite du produit de rachat comme suit :
| Exercice | 1 | 2 | 3 | Par la suite |
| --- | --- | --- | --- | --- |
| CDSC | 3,00 % | 2,00 % | 1,00 % | 0,00 % |

Les investisseurs doivent se référer à la section « Frais et charges » du Prospectus pour de plus amples informations sur la CDSC.
Modèle d’informations précontractuelles pour les produits financiers visés à l’article 9, paragraphes 1 à 4a, du Règlement (UE) 2019/2088 et à l’article 5, premier paragraphe, du Règlement (UE) 2020/852
Par investissement durable, on entend un investissement dans une activité économique qui contribue à un objectif environnemental ou social, pour autant qu’il ne cause de préjudice important à aucun de ces objectifs et que les sociétés bénéficiaires des investissements appliquent des pratiques de bonne gouvernance.
Dénomination du produit : 
M&G (Lux) Investment Funds 1 - M&G (Lux) Sustainable Multi Asset Growth Fund
Identifiant d’entité juridique : 
254900DTG2UFJ7LAT088

#### Objectif d’investissement durable
La taxinomie de l’UE est un système de classification établi dans le Règlement (UE) 2020/852 qui dresse une liste des activités économiques durables sur le plan environnemental. Ce Règlement ne dresse pas une liste des activités économiques durables sur le plan social. Les investissements durables ayant un objectif environnemental ne sont pas nécessairement alignés sur la taxinomie.
Il réalisera un minimum d’investissements durables ayant un objectif environnemental : 30 %
dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
Il réalisera un minimum d’investissements durables ayant un objectif social : 20 %
Il promeut des caractéristiques environnementales et sociales (E/S) et, bien qu’il n’ait pas pour objectif l’investissement durable, il contiendra une part minimale de
% d’investissements durables
ayant un objectif environnemental dans des activités économiques qui sont considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif environnemental dans des activités économiques qui ne sont pas considérées comme durables sur le plan environnemental au titre de la taxinomie de l’UE
ayant un objectif social
Il promeut des caractéristiques E/S, mais ne réalisera pas d’investissements durables
Quel est l’objectif d’investissement durable de ce produit financier ?
Les indicateurs de durabilité permettent de mesurer la manière dont les objectifs de durabilité de ce produit financier sont atteints.
Contribuer à une économie durable en investissant dans des actifs appuyant des objectifs environnementaux et/ou sociaux, en particulier l’atténuation des changements climatiques.
Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de l’objectif d’investissement durable de ce produit financier ?
Indicateurs de durabilité au niveau du Fonds
Le Gestionnaire d’investissement surveillera les indicateurs ci-dessous qui s’appliqueront aux investissements globaux et il en rendra compte.
- Atténuation des changements climatiques et solutions environnementales :
- Variation de l’intensité des émissions de CO2 au cours de la période de trois ans précédente (taux de croissance annualisé composé au cours des trois dernières années) (entreprises et institutions souveraines).
- Pourcentage (%) de parties souveraines à l’accord de Paris (institutions souveraines).
- Intensité carbone moyenne pondérée (entreprises).
- Pourcentage (%) d’émetteurs privés avec des objectifs fondés sur la science ratifiés en vertu de la Science Based Target Initiative (SBTi) ou d’un équivalent tel qu’évalué par le Gestionnaire d’investissement (entreprises).
- Pourcentage (%) d’émetteurs privés participant au Carbon Disclosure Project (CDP) (entreprises).
- Tonnes d’émissions de CO2 évitées par des investissements à impact positif (entreprises et institutions souveraines).
- Sociaux
- Pourcentage (%) de titres de créance souverains classés au-dessus de la moyenne mondiale de l’indice de progrès social (IPS), qui évalue dans quelle mesure une société pourvoit aux besoins matériels de ses citoyens, et n’affiche pas une tendance négative sur 5 ans (institutions souveraines)
- Nombre de personnes sous-médicalisées atteintes, y compris les patients traités, les clients pris en charge, etc., par des investissements à impact positif (entreprises et institutions souveraines)
- Pour les actifs à impact positif :
- Pourcentage (%) de la VL investi dans des actifs à impact positif au sein du FondsIndicateurs de durabilité au niveau des titresAu moins un des indicateurs suivants s’appliquera à chaque investissement durable effectué par le Fonds. Le Gestionnaire d’investissement n’est pas tenu d’examiner la totalité des indicateurs de durabilité ci-dessous dans le cadre de l’analyse de chaque investissement durable ni d’en rendre compte.
- Émissions d’entreprise
	- Atténuation des changements climatiques :

- Si l’entreprise a des objectifs fondés sur la science ratifiés en vertu de la Science Based Target Initiative (SBTi) ou d’un équivalent tel qu’évalué par le Gestionnaire d’investissement
- D’après les évaluations, l’émetteur présente un alignement actuel de la température inférieur ou égal à 1,5 °C pour prouver l’alignement avec les méthodologies scientifiques actuelles destinées à faire face aux changements climatiques
- Si l’émetteur participe au Carbon Disclosure Project (CDP)
- D’après les évaluations de cette émission, plus de 20 % des revenus proviennent de n’importe quel thème d’impact sur l’environnement du changement climatique, y compris l’énergie alternative, l’efficacité énergétique ou la construction écologique
- Environnementaux autres
- La note du pilier Environnement ESG de l’émetteur est d’au moins 7,1, telle que déterminée par MSCI
- Pourcentage (%) des revenus de l’émetteur évalués comme étant liés à des thèmes environnementaux au- delà de 20 %
- L’émission est une obligation environnementale verte telle que vérifiée par l’alignement sur la Climate Bonds Initiative (CBI), l’Association internationale des marchés de capitaux (ICMA) ou une autre norme appropriée telle qu’acceptée par le Gestionnaire d’investissement
- L’émetteur est un producteur d’énergie renouvelable
- Sociaux
- La note du pilier social ESG de l’émetteur est d’au moins 7,1 (leader), telle que déterminée par MSCI
- L’émetteur est signataire du Pacte mondial des Nations unies
- La diversité du conseil d’administration de l’émetteur dépasse 33 %
- Pourcentage (%) des revenus de l’émetteur évalués comme étant liés à des thèmes sociaux au-delà de 20 %
- Nombre de personnes sous-médicalisées atteintes, y compris les patients traités, les clients pris en charge, etc.
- Alignement sur les Objectifs de développement durable des Nations Unies (« ODD ») :
- Le Gestionnaire d’investissement peut évaluer si un investissement est aligné sur un ou plusieurs des 17 ODD, en utilisant des indicateurs appropriés pour déterminer la force de cet alignement.
- Émissions souveraines
	- Atténuation des changements climatiques et solutions environnementales :

- La note du Climate Change Performance Index (CCPI) de l’institution souveraine n’est pas « très faible »
- L’institution souveraine est partie à l’accord de Paris et à la Convention des Nations unies sur la diversité biologique
- Environnementaux autres
- La note du pilier Environnement ESG de l’institution souveraine est d’au moins 7,1 (leader), telle que déterminée par MSCI
- L’émission est une obligation environnementale verte telle que vérifiée par alignement à la CBI, à l’ICMA ou à une autre norme appropriée telle qu’acceptée par le Gestionnaire d’investissement
- Sociaux
- La note du pilier Social ESG de l’émetteur étant d’au moins 7,1 (leader), telle que déterminée par MSCI
- L’émission est une obligation sociale telle que vérifiée par l’alignement sur l’ICMA ou une autre norme appropriée telle qu’acceptée par le Gestionnaire d’investissement
- L’institution souveraine est classée au-dessus de la moyenne mondiale de l’indice de progrès social (IPS), qui évalue dans quelle mesure une société pourvoit aux besoins matériels de ses citoyens, et n’affiche pas une tendance négative sur 5 ans
- L’institution souveraine a pleinement ratifié l’ensemble des 8 conventions de l’Organisation internationale du travail (OIT) relatives aux droits de l’hommeLes principales incidences négatives correspondent aux incidences négatives les plus significatives des décisions d’investissement sur les facteurs de durabilité liés aux questions environnementales, sociales et de personnel, au respect des droits de l’homme et à la lutte contre la corruption et les actes de corruption.

Dans quelle mesure les investissements durables ne causent-ils pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social ?
Les investissements durables que le Fonds à l’intention de réaliser ne causent pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social dans la mesure où ils sont tenus de réussir une série de tests, notamment :
- S’ils représentent une exposition importante aux entreprises que le Gestionnaire d’investissement considère comme préjudiciables.
- Les indicateurs des Principales incidences négatives considèrent comme rendant l’investissement incompatible avec un investissement durable (violations des principes du Pacte mondial des Nations unies ou des principes directeurs de l’OCDE à l’intention des entreprises multinationales, violations sociales par des institutions souveraines telles que l’application de sanctions ou des effets négatifs sur les zones sensibles à la biodiversité).
- D’autres indicateurs des Principales incidences négatives font partie d’une évaluation de l’importance relative pour comprendre si une exposition est compatible avec un investissement durable.

Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?
Le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles (c’est-à-dire pas uniquement pour les investissements durables), ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées.
La prise en compte par le Fonds des indicateurs des Principales incidences négatives est utilisée dans le cadre de la compréhension des pratiques opérationnelles des investissements achetés par le Fonds. Les investissements détenus par le Fonds sont ensuite soumis à un suivi permanent et à un processus d’examen trimestriel.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds.
Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs aux entreprises et aux droits de l’homme ?
Tous les investissements achetés par le Fonds doivent réussir les tests de gouvernance du Gestionnaire d’investissement et, en outre, les investissements durables doivent également réussir les tests pour confirmer qu’ils ne causent aucun préjudice important, comme décrit ci-dessus. Ces tests intègrent une prise en compte des principes directeurs de l’OCDE et des Nations unies.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
Oui, Pour les investissements durables, les Principales incidences négatives sont un élément clé de l’évaluation visant à savoir si ces investissements ne causent pas de préjudice important, comme expliqué ci-dessus. Pour les autres investissements, le processus de recherche du Gestionnaire d’investissement comprend la prise en compte des indicateurs des Principales incidences négatives pour tous les investissements où des données sont disponibles, ce qui permet au Gestionnaire d’investissement de prendre des décisions d’investissement éclairées, comme expliqué ci-dessus.
De plus amples renseignements sur les indicateurs des Principales incidences négatives qui sont pris en compte par le Gestionnaire d’investissement figurent à l’annexe des publications d’informations sur le site internet du Gestionnaire d’investissement destinées aux Fonds. Des informations sur la manière dont les Principales incidences négatives ont été prises en compte seront fournies dans le rapport annuel du Fonds.
Non
499
Quelle stratégie d’investissement ce produit financier suit-il ?
L’approche du Fonds en matière d’investissement passe par une allocation flexible des actifs, mise en œuvre en investissant dans des titres de sociétés ou de gouvernements qui respectent des normes élevées du point de vue du comportement ESG. Le Fonds conserve également une participation de base dans des investissements considérés comme ayant un impact positif en répondant aux principaux défis sociaux et environnementaux de la planète (« Actifs à impact positif »). Le Fonds investit généralement 20 à 50 % de sa valeur liquidative dans des actifs à impact positif, avec un minimum de 20 % et sans exposition maximale.
Les Actifs à impact positif sont évalués selon la méthodologie d’évaluation d’impact du Gestionnaire d’investissement (« Méthodologie d’impact ») décrite ci-dessous.
La Méthodologie d’impact est axée sur trois critères :
- Caractéristiques des investissements : la qualité et la pérennité du modèle d’affaires de la société et sa capacité à générer des rendements économiques durables ;
- Intention : l’objectif de la société tel que le démontre l’harmonisation de son énoncé de mission avec ses actions et sa stratégie d’entreprise ; et
- Impact : l’ampleur de l’impact sociétal net positif et les progrès de l’entreprise dans la résolution des problèmes d’égalité sociale.

Les résultats de la Méthodologie d’impact permettent au Fonds d’être alloué aux trois types d’investissement suivants :
- Les « pionniers », dont les produits ou services ont ou pourraient avoir un effet transformationnel sur l’égalité sociale.
- Les « facilitateurs », qui fournissent aux autres les outils nécessaires pour favoriser l’égalité sociale.
- Les « leaders », qui sont à la tête du développement durable dans les secteurs qui valorisent l’égalité sociale, mais qui peuvent avoir une rentabilité plus établie que les pionniers.

L’engagement du Gestionnaire d’investissement auprès des sociétés dans lesquelles le Fonds investit est fondamental pour l’approche d’investissement.
Le Fonds a généralement une intensité carbone moyenne pondérée plus faible que celle du marché des actions mondiales (« Résultat ESG positif »).
Les considérations de durabilité, qui englobent les facteurs ESG, sont entièrement intégrées dans l’analyse et les décisions d’investissement, et elles jouent un rôle important dans la détermination de l’univers d’investissement et de la construction du portefeuille.
Afin d’identifier les titres à acheter, le Gestionnaire d’investissement réduit au départ l’univers d’investissement potentiel comme suit :
- Les exclusions énumérées dans les Critères ESG sont appliquées.
- Le Gestionnaire d’investissement évalue ensuite les caractéristiques de durabilité des autres sociétés :
- a) Selon les critères ESG du portefeuille, le Gestionnaire d’investissement évalue et note les caractéristiques ESG des titres restants sur la base des notations ESG externes et de l’évaluation du Gestionnaire d’investissement. Les titres les moins bien notés, qui sont considérés comme des retardataires ESG, sont exclus et le Gestionnaire d’investissement favorise les émetteurs présentant de meilleures caractéristiques ESG.
- b) Les actifs à impact positif sont évalués à l’aide de la Méthodologie d’impact.
- À partir de l’univers d’investissement restreint, le Gestionnaire d’investissement alloue le capital entre différents types d’actifs conformément au processus expliqué ci-dessus. Au sein de chaque catégorie d’actifs, le Gestionnaire d’investissement a ensuite recours à une analyse complémentaire pour examiner la valorisation de ces investissements et le moment opportun pour acheter en tenant compte de l’objectif financier du Fonds.
- Le Gestionnaire d’investissement privilégie les émetteurs présentant l’intensité carbone la plus faible lorsque cela ne nuit pas à la poursuite de l’objectif d’investissement financier. Ce processus se traduit généralement par un portefeuille avec une intensité carbone inférieure à celle du marché des actions mondial. Dans le cadre de la construction d’un portefeuille favorisant des investissements présentant une intensité carbone plus faible, le Gestionnaire d’investissement peut néanmoins investir sur tout l’éventail de l’intensité carbone. La méthodologie de calcul du Fonds ne comprend pas les titres qui ne disposent pas respectivement de données relatives à l’intensité carbone, ni les liquidités, ni les quasi-liquidités, ni certains instruments dérivés ni certains organismes de placement collectif.

La stratégie d’investissement guide les décisions d’investissement selon des facteurs tels que les objectifs d’investissement et la tolérance au risque.
Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements en vue d’atteindre l’objectif d’investissement durable ?
Les éléments suivants sont contraignants, dans le cadre de la stratégie du Gestionnaire d’investissement pour ce Fonds :
- Les exclusions du Fonds ;
- L’allocation des actifs du Fonds, telle qu’énoncée dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? » ; et
- Les niveaux minimaux d’investissements durables, tels qu’énoncés dans la section « Quelle est l’allocation des actifs prévue pour ce produit financier ? ». Veuillez noter que la part minimale des investissements durables dont l’objectif environnemental n’est pas aligné sur la taxonomie de l’UE n’est pas contraignante lorsqu’une détention est inférieure à ce minimum en raison du fait que des investissements alignés sur la taxonomie sont détenus à la place (dans la mesure où tous ces investissements sont des investissements durables avec des objectifs environnementaux).

Lorsqu’il est dans le meilleur intérêt des investisseurs, le Fonds peut s’écarter temporairement d’un ou de plusieurs de ces éléments, par exemple si le Gestionnaire d’investissement considère qu’il est prudent de détenir des niveaux élevés de liquidités en réponse aux conditions de marché.
Les pratiques de bonne gouvernance concernent des structures de gestion saines, les relations avec le personnel, la rémunération du personnel et le respect des obligations fiscales.
Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?
Le Gestionnaire d’investissement exécute des tests de bonne gouvernance quantitatifs basés sur les données dans sa prise en compte des investissements dans les sociétés. Le Gestionnaire d’investissement exclut les investissements dans des titres considérés comme ne satisfaisant pas aux tests de bonne gouvernance du Gestionnaire d’investissement. Lors de l’évaluation des bonnes pratiques de gouvernance, le Gestionnaire d’investissement devra, au minimum, tenir compte des questions qu’il juge pertinentes en rapport avec les quatre piliers d’une bonne gouvernance identifiés (structures de gestion saines, relations avec le personnel, rémunération du personnel et respect des obligations fiscales).
Quelle est l’allocation des actifs et la part minimale d’investissements durables ?
L’allocation des actifs décrit la part des investissements dans des actifs spécifiques.
Le Gestionnaire d’investissement compte investir au moins 70 % du Fonds dans des investissements durables, afin de réaliser l’objectif d’investissement durable. Le Fonds n’est pas tenu de favoriser un type spécifique d’investissement durable et peut investir dans des actifs appuyant n’importe quel objectif environnemental et/ou social, mais il accordera une attention particulière à l’atténuation des changements climatiques en utilisant des indicateurs de durabilité supplémentaires pour l’atténuation des changements climatiques, en mesurant les performances sur ces caractéristiques au niveau des fonds, c’est-à-dire même lorsqu’un investissement a été acheté pour atteindre un objectif social.
Le Fonds investira au moins 20 % dans des investissements durables avec un objectif social et au moins 30 % dans des investissements durables avec un objectif environnemental qui ne sont pas alignés sur la taxonomie de l’UE. Sous réserve de ces niveaux planchers, le Fonds peut investir de manière flexible entre les différents types d’investissements durables en fonction de la disponibilité et de l’attractivité des opportunités d’investissement, tout en maintenant l’allocation globale aux investissements durables ayant des objectifs environnementaux et/ou sociaux à un minimum de 70 %.
Le Fonds investit généralement 20 à 50 % de sa valeur liquidative dans des actifs à impact positif, avec un minimum de 20 % et sans exposition maximale.
| Investissements |  |  |
| --- | --- | --- |
|  |

#1 Durables
#2 Non durables
Environnementaux
Sociaux
Alignés sur la taxinomie
Autres
La catégorie #1 Durables couvre les investissements durables ayant des objectifs environnementaux ou sociaux.
Les activités alignées sur la taxinomie sont exprimées en pourcentage :
- du chiffre d’affaires pourrefléter la part des revenus provenant des activités vertes des sociétés bénéficiaires des investissements.
- des dépenses d’investissement (CapEx)pour montrer les investissements verts réalisés par les sociétés bénéficiaires des investissements, pour une transition vers une économie verte par exemple.
- des dépenses d’exploitation(OpEx) pour refléter les activités opérationnelles vertes des sociétés bénéficiaires des investissements.

La catégorie #2 Non durables inclut les investissements qui ne sont pas considérés comme des investissements durables.
Comment l’utilisation de produits dérivés atteint-elle l’objectif d’investissement durable ?
Les instruments dérivés ne sont considérés comme contribuant à l’objectif d’investissement durable que lorsque cette contribution peut être démontrée :
- Lorsqu’un instrument dérivé représente une exposition à un seul nom, l’investissement durable doit contribuer à l’objectif d’investissement durable du Fonds.
- Lorsqu’un instrument dérivé représente une exposition à un indice financier diversifié, la contribution de l’indice à l’objectif d’investissement durable doit être démontrée. Par exemple, les règles de l’indice peuvent l’amener à fonctionner de manière à proposer certaines caractéristiques qui sont considérées comme contribuant de manière positive à l’objectif d’investissement durable.

Les activités habilitantes permettent directement à d’autres activités de contribuer de manière substantielle à la réalisation d’un objectif environnemental.
Les activités transitoires sont des activités pour lesquelles il n’existe pas encore de solutions de remplacement sobres en carbone et, entre autres, dont les niveaux d’émission de gaz à effet de serre correspondent aux meilleures performances réalisables.
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
Alors que l’allocation minimale obligatoire aux investissements durables alignés sur la taxinomie est de 0 %, le Fonds est autorisé à investir dans ces investissements, ce qui fait partie de son allocation globale aux investissements durables avec des objectifs environnementaux.
Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
0 %
Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ?
30 %
Quelle est la part minimale d’investissements durables ayant un objectif social ?
20 %
Quels sont les investissements inclus dans la catégorie « #2 Non durables », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ?
Le Fonds peut détenir des liquidités, des quasi-liquidités, des fonds du marché monétaire, des devises, des instruments dérivés de taux d’intérêt et des instruments dérivés similaires (qui peuvent inclure certaines opérations techniques telles que des contrats à terme sur obligations d’État utilisés pour les opérations de duration) en tant qu’investissements « Autres », à toute fin permise par la politique d’investissement du Fonds. Aucune garantie environnementale ou sociale minimale n’est appliquée.
Les instruments dérivés utilisés pour prendre une exposition à des indices financiers diversifiés (hors opérations techniques) et des fonds (c’est-à-dire des OPCVM et autres OPC) peuvent être détenus à des fins de couverture ou en relation avec des liquidités détenues à des fins de liquidité accessoire et seront soumis aux tests de garantie environnementale ou sociale minimale que le Gestionnaire d’investissement juge appropriés, par exemple un test de note ESG pondérée minimum.
Il est également possible que le Fonds détienne des investissements qui ne sont pas alignés sur l’objectif d’investissement durable, par exemple à la suite d’une fusion ou d’une opération similaire au niveau de l’entreprise, ou en raison de la modification des caractéristiques d’un investissement précédemment acquis. Dans ce cas, le Fonds cherchera généralement à les céder dans le meilleur intérêt des investisseurs, mais il peut ne pas toujours être en mesure de le faire immédiatement.
Un indice spécifique est-il désigné comme indice de référence pour atteindre l’objectif d’investissement durable ?
Non
Les indices de référence sont des indices permettant de mesurer si le produit financier réalise les caractéristiques environnementales ou sociales qu’il promeut.
Comment l’indice de référence tient-il compte des facteurs de durabilité afin d’être constamment aligné sur l’objectif d’investissement durable ?
Sans objet
Comment l’alignement de la stratégie d’investissement sur la méthodologie de l’indice est-il garanti en permanence ?
Sans objet
En quoi l’indice désigné diffère-t-il d’un indice de marché large pertinent ?
Sans objet
Où trouver la méthode utilisée pour le calcul de l’indice désigné ?
Sans objet
Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? 
De plus amples informations sur le produit sont accessibles sur le site internet : www.mandg.com/country-specific-fund-literature

### M&G (Lux) Multi Asset 2023 Fund
| Date de lancement | 14 décembre 2017 |
| --- | --- |
| Objectif d’investissement | Le Compartiment a deux objectifs : - verser une distribution fixe annuelle de 2,5 % en fonction du montant initial investi jusqu’à l’échéance en décembre 2023 et ;
- obtenir une croissance du capital sur une période de six ans.
 |

| Politique d’investissement | Le Fonds investit dans des fonds d’investissements ouverts dont  le Gestionnaire des Investissements est M&G Investment Management Limited et l’objectif est d’accroître l’exposition à une gamme d’actifs. Les fonds d’investissements ouverts peuvent faire l’objet d’investissements dans une unique catégorie d’actifs ou dans une gamme de catégorie d’actifs, des titres à revenus fixes, des biens immobiliers, des titres convertibles, des devises et des instruments du marché monétaire du monde entier. Au cours de la période précédant l’échéance, le Fonds peut détenir des niveaux élevés de liquidités et de quasi-liquidités. Le Fonds sera constitué pour une durée de six ans après la Période d’offre initiale, au cours de laquelle aucune souscription supplémentaire ne sera permise. Les investisseurs qui restent investis jusqu’à l’échéance ne feront l’objet d’aucune commission de rachat. En revanche, les investisseurs qui demandent le rachat avant l’échéance seront soumis à une commission de rachat régressive4. |
| --- | --- |
| Stratégie d’investissement | Approche d’investissement Cette approche d’investissement combine une recherche approfondie pour déterminer la valeur des actifs à court et moyen termes, à une analyse des réactions du marché aux événements pour identifier les opportunités d’investissement. Le Gestionnaire des Investissements a adopté une approche top-down flexible de la répartition du capital entre les différents types de fonds en réponse à l’évolution des conditions économiques et de la valeur des actifs. Le Gestionnaire des Investissements pense que cette approche a le potentiel d’atteindre l’objectif sur une période de six ans et une volatilité annualisée (le degré selon lequel la valeur du Fonds fluctue au cours d’une période de 12 mois) d’environ 8 %. Le Fonds investira dans des stratégies différentes, notamment des stratégies de revenus visant à générer des revenus mais ayant la possibilité d’être répartis du capital afin de satisfaire au montant annuel distribué établi à 2,5 %. Approche d’investissement responsable Le Fonds est classé ESG intégré. La classification ESG du Fonds est expliquée à la section « Définitions ESG » de l’Annexe 1 du présent Prospectus. |
| Règlement européen sur la publication d’informations en matière de durabilité dans le secteur des services financiers | Règlement SFDR Le Fonds est classé en tant que fonds relevant de l’Article 6 du Règlement SFDR. Ce Fonds ne promeut pas de caractéristiques environnementales ou sociales. Par conséquent, le Gestionnaire des Investissements ne prend pas systématiquement en compte les incidences négatives de ses décisions d’investissement sur les facteurs de durabilité. Le Fonds prend en compte les risques en matière de durabilité et leurs incidences, comme indiqué dans la section « Risques en matière de durabilité ». Règlement européen sur la taxonomie |

4 Voir le tableau ci-dessous intitulé « Grille des commissions de rachat ».
|  | Les investissements sous-jacents du Fonds ne prennent pas en compte les critères de l’Union européenne en matière d’activités économiques durables sur le plan environnemental. |
| --- | --- |
| Indice de référence | Le Fonds fait l’objet d’une gestion active et n’a pas d’indice de référence. Les investisseurs peuvent évaluer la performance du Fonds par le biais de son objectif d’investissement qui consiste à fournir des revenus annuels fixes et une croissance du capital pendant la durée du Fonds. |
| Durée | Le Fonds est constitué pour une période de six ans à compter de la date de lancement. |
| Structure du produit | Aucune souscription supplémentaire ne pourra être effectuée après la Période d’offre initiale. Les Actionnaires peuvent demander le rachat de tout ou partie de leurs Actions le Jour de négociation du Fonds. Veuillez noter que pour les rachats intervenant avant l’échéance, une Commission de rachat s’appliquera, tel que précisé ci-dessous. Période d’investissement Au cours de la période d’investissement, le Fonds sera géré conformément à la politique et à l’objectif d’investissement du Fonds. En cas de rachats importants par les investisseurs au cours de la période d’investissement et/ou si la valeur des actifs nets du Fonds tombe en dessous de 20 millions d’euros, le Conseil d’administration se réserve le droit de liquider le Fonds avant la date d’échéance prévue. Échéance Le rachat des actions aura lieu au terme de la période de six ans suivant la date de lancement. Néanmoins, et dans le meilleur intérêt des actionnaires, le Conseil d’administration convoquera une assemblée générale extraordinaire des Actionnaires du fonds afin de décider de réduire ou de prolonger l’échéance du Fonds. |
| Profil de l’investisseur type | Les investisseurs types peuvent être des investisseurs particuliers, professionnels ou des Investisseurs institutionnels visant la croissance du capital et du revenu, mais capables d’assumer le risque économique de perte de leur investissement dans le Fonds. Dans chaque cas, on s’attend à ce que tous les investisseurs connaissent et apprécient les risques associés à l’investissement dans des Actions du Fonds. Le Fonds est conçu pour les investisseurs qui disposent d’un horizon d’investissement de six ans et qui sont donc préparés à rester investis jusqu’à l’échéance du Fonds. |
| Devise de référence | EUR |
| Jour de Négociation | Les Actions ne sont pas disponibles à la souscription. Tous les Jours de négociation servent uniquement aux demandes de rachat et interviendront chaque Jour ouvrable. |
| Rachats | Les demandes de rachat seront traitées chaque Jour ouvrable. Les Actionnaires recevront un montant de rachat brut, basé sur le Prix par Action et la commission de rachat applicable. |
| Heure limite de passation des ordres | 13 h 00 (heure du Luxembourg) chaque Jour de négociation. Les demandes de remboursement doivent être déposées chaque Jour ouvrable (jusqu’à l’Heure limite de passation des ordres). |
| Politique de distribution | Si elles sont déclarées, sauf précision contraire pour une Catégorie d’Actions donnée, le Fonds versera des distributions sur une base annuelle. Il sera effectué un ajustement au prorata sur la distribution en prenant en compte tout rachat partiel. |
| Frais et charges | Contrairement à ce qui est indiqué à la section Frais et charges, la Société de gestion prélèvera une commission unique sur chaque Catégorie d’Actions du Fonds afin de couvrir ses obligations, ainsi que les frais de fonctionnement, d’administration et de contrôle associés au Fonds. Cette commission sera calculée et prise en compte sur une base journalière (« Commission unique »). |

|  | La Commission unique comprend : - La Commission de gestion annuelle ;
- La Commission d’administration (la réduction sur la Commission d’administration telle que décrite à la section « Frais et charges » du Prospectus ne s’applique pas aux Fonds appliquant une Commission unique) ;
- La Commission de couverture de Catégorie d’Actions (le cas échéant) ;
- Taxe d’abonnement ;
- La Commission du Dépositaire ;
- Les Commissions de conservation et les Commissions par opération de conservation ; et
- Autres charges.
 La Commission unique exclut : - Les frais de transaction du portefeuille (écart de négociation, commissions des courtiers, taxes de transfert et droits de timbre supportés par la Société lors des transactions du Fonds) ;
- Tous les frais initiaux ou toutes les commissions de rachat ; et
- Toutes les charges exceptionnelles y compris, sans s’y limiter, les frais juridiques et le montant total de toute taxe, tout impôt, tout droit ou toute charge similaire imposé(e) au Fonds qui ne serait pas considéré(e) comme une charge ordinaire.
 Lorsqu’un Fonds investit dans des parts ou des actions d’autres fonds, les frais et charges encourus dans des fonds sous-jacents suivent le traitement décrit à la section « Frais et charges » du Prospectus. |
| --- | --- |
| Risques principaux | Le Fonds est exposé aux risques principaux suivants, qui sont généralement associés aux titres et aux instruments dans lesquels le Fonds investit ou qu’il utilise pour atteindre son objectif d’investissement. - Risque lié à la variation du capital et du revenu
- Risque lié à l’investissement dans les fonds
- Commission de rachat
- Risque lié aux fonds ou catégories d’actions à distributions fixes
- Risque de liquiditéRisque associé aux fonds d’investissement sous-jacents ouverts :
- Risque de contrepartie
- Risque de crédit
- Risque de taux d’intérêt
- Risque lié aux marchés émergents
- Risque lié aux obligations sécurisées
- Risque lié aux titres de créance convertibles conditionnels
- Risque lié aux instruments dérivés
- Risque de liquidité
 |

Pour une description plus détaillée des risques, les investisseurs sont invités à lire la section « Facteurs de risque ».
Catégories d’Actions disponibles pour émission
| Catégorie d’Actions | Unique (taux annuel) | Frais initiaux | Commission de rachat |
| --- | --- | --- | --- |
| P | 1,60 % | - | Voir le tableau ci- dessous. |

Les Commissions initiale et de rachat indiquées correspondent aux montants maximums. Elles peuvent, dans certains cas, être moins élevées.
Certaines des Catégories d’Actions listées ne sont pas disponibles à la souscription au moment de la publication du présent Prospectus. La liste des Catégories d’Actions émises dans ce Fonds peut être consultée à l’adresse : www.mandg.com/classesinissue.
Grille des commissions de rachat
Les Actionnaires qui demandent le rachat avant l’échéance du Fonds peuvent être soumis à des commissions de rachat tel qu’exposé ci-dessous :
| Exercice | 1 | 2 | 3 | 4 | 5 | 6 |
| --- | --- | --- | --- | --- | --- | --- |
| Commission de rachat | 2,50 % | 2,00 % | 1,50 % | 1,00 % | 0,75 % | 0,50 % |

Les Administrateurs peuvent réduire ou annuler le montant des Commissions de rachat à leur seule discrétion.