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The M&G UK Select Fund invests in a range of UK equities to maximise total return to investors. The manager seeks to identify companies that are capable of sustaining an above average Return on Equity (ROE) over long periods of time.
The Fund is managed thematically using a top down approach to focus on three broad criteria for stock picking:
Inevitables - a small universe of companies (15-20) with exceptionally strong brands and market share, candidates to buy and hold for long periods of time;
Secular shifts - companies benefiting from macroeconomic events leading to an increased and superior ROE at the sector level;
High multiple earnings growth - signs of accelerated earnings growth in companies that inherently trade at high earnings multiples.