Bestinvest says
This fund acts as a one stop shop for exposure to global equities and is thus targeted at those with smaller portfolios. Whilst charges are reasonably competitive for this fund compared to other fund of funds mandates its investment portfolio is a bit of a hotpotch, lacking focus. In addition more than a third of the portfolio is invested in the M&G Global Basics fund, which is also managed by Graham French, this fund's manager. Investors after a one stop shop for global equity investment should consider one of our recommended funds such as Aberdeen World Equity.
The fund mainly invests in M&G’s range of equity funds, but since January 2007 has had the flexibility to invest in external funds as well. Additionally the portfolio can holding up to 20% of its value in direct equities and cash. The fund is normally diversified by country, though it typically has a higher UK weighting than its official benchmark, the FTSE World Index, and invests across the entire market capitalisation size range. The fund manager decides on individual fund weights, consulting with the underlying fund managers on the investment strategies and styles of individual M&G funds as part of his process. Asset allocation decisions are taken in consultation with M&G’s Head of Equity Investment.