ESI M&G Senior Asset Backed Credit WI-H EUR

The Fund aims to provide a combination of capital growth and income to deliver a return that is higher than that of the Sterling Overnight Index Average ("SONIA") over any three-year period, net of fees, while applying ESG Criteria. Core investment: the Fund invests in asset-backed securities (ABS) and other floating rate instruments that are investment grade and denominated in any currency. In usual market conditions, at least 70% of the Fund will be invested in ABS and at least 80% of the Fund is expected to be subject to a credit rating of at least AA-; this is a credit rating which is above that included in the definition of "Investment Grade" in the Prospectus. The Fund may invest up to 10% in securities that are not rated by any recognised rating agency, in which case a comparable internal credit rating will be used. Issuers of these securities may be located in any country, including emerging markets. The Fund aims to hedge any non-GBP assets back to GBP. The Fund invests in securities that meet the ESG Criteria, applying an Exclusionary Approach as described in the precontractual annex. Other investments: the Fund may invest in other funds, and up to 30% in cash (meaning eligible deposits) and assets that can be turned quickly into cash. Derivatives usage: for investment purposes and to reduce risks and costs. Fund reference currency: GBP Strategy in brief: • Investment approach: the investment manager will employ a fundamental research driven approach to identify assets that offer an appropriate return on a relative value and risk adjusted basis. The portfolio will be constructed so as to ensure that it remains well diversified and with an appropriate liquidity profile. • Investment manager's ESG classification: Planet+ / ESG Enhanced, as defined in the Fund's Prospectus. • SFDR category: Article 8 Benchmark: SONIA 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

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No