Fund Aims
The Fund aims to provide a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than that of the FTSE All-Share Index over any five-year period.
Fund Manager
Michael Stiasny manager for:
5 years 4 months
Michael Stiasny is the fund manager of Charifund and, since 1 April 2018, of the M&G UK Income Distribution Fund. He is also deputy fund manager of both the M&G Recovery Fund and the M&G Global Recovery Fund. He joined M&G in 1998 as an equity analyst, becoming head of the pan-European equity research team in 2005. He was appointed deputy fund manager of the M&G Recovery Fund in 2011. Michael graduated with a degree in philosophy, politics and economics from the University of Oxford. He is a CFA charterholder.
Fund Overview
Price
Bid
420.56p
Offer
420.56p
(27/04/2026)
Annual Management Charge
1.50%
Top 10 Holdings
|
| Stock Name |
% Weight |
| HSBC HOLDINGS |
8.5%
|
| SHELL |
4.3%
|
| ASTRAZENECA |
4.3%
|
| IMPERIAL BRANDS |
4.0%
|
| GSK |
3.9%
|
| BP P.L.C. |
3.7%
|
| NATIONAL GRID |
3.6%
|
| PENSANA |
3.6%
|
| MESOBLAST LIMITED |
3.5%
|
| LLOYDS BANKING GROUP |
3.5%
|
|
Total
|
42.9%
|
Equity Sector Allocation
| Health Care |
19.1%
|
| Banks |
15.6%
|
| Energy |
9.0%
|
| Basic Resources |
7.9%
|
| Industrial Goods & Services |
6.7%
|
| Food, Beverage & Tobacco |
6.4%
|
| Utilities |
5.8%
|
| Insurance |
5.2%
|
| Media |
4.0%
|
| Financial Services |
3.7%
|
| Other |
13.4%
|
| Cash and Equivalents |
0.3%
|
Data accurate at: 28/02/2026
Performance figures show total return with no initial charge and net income reinvested, except for Offshore funds which show gross income reinvested.
Cumulative performance figures are calculated from the previous working day.
Discrete performance figures are calculated from the previous month end.
Data accurate at: 28/02/2026
Asset Allocation
|
|
UK Equities
|
90.6%
|
|
|
International Equities
|
9.1%
|
|
|
Cash & Equivalents
|
0.3%
|
|
|
Other
|
< 0.1%
|
Equity Sector Allocation
ICB Industries
ICB Supersectors
ICB Sectors
ICB Subsectors
ICB Industries
| Financials |
|
24.5% |
| Health Care |
|
19.1% |
| Consumer Staples |
|
9.7% |
| Basic Materials |
|
9.5% |
| Consumer Discretionary |
|
9.4% |
| Industrials |
|
9.2% |
| Energy |
|
9.0% |
| Utilities |
|
5.8% |
| Telecommunications |
|
1.6% |
| Technology |
|
1.1% |
| Real Estate |
|
0.9% |
| Cash and Equivalents |
|
0.3% |
| Non-Classified |
|
<0.1% |
ICB Supersectors
| Health Care |
|
19.1% |
| Banks |
|
15.6% |
| Energy |
|
9.0% |
| Basic Resources |
|
7.9% |
| Industrial Goods & Services |
|
6.7% |
| Food, Beverage & Tobacco |
|
6.4% |
| Utilities |
|
5.8% |
| Insurance |
|
5.2% |
| Media |
|
4.0% |
| Financial Services |
|
3.7% |
| Personal Care, Drug & Grocery Stores |
|
3.2% |
| Consumer Products & Services |
|
2.5% |
| Construction & Materials |
|
2.5% |
| Travel & Leisure |
|
2.3% |
| Telecommunications |
|
1.6% |
| Chemicals |
|
1.5% |
| Technology |
|
1.1% |
| Real Estate |
|
0.9% |
| Retail |
|
0.7% |
| Cash and Equivalents |
|
0.3% |
| Non-Classified |
|
<0.1% |
ICB Sectors
| Pharmaceuticals & Biotechnology |
|
18.4% |
| Banks |
|
15.6% |
| Non-Renewable Energy |
|
8.0% |
| Industrial Metals & Mining |
|
7.8% |
| Gas, Water & Multi-utilities |
|
4.9% |
| Media |
|
4.0% |
| Tobacco |
|
4.0% |
| Personal Care, Drug & Grocery Stores |
|
3.2% |
| Life Insurance |
|
2.9% |
| Food Producers |
|
2.5% |
| Construction & Materials |
|
2.5% |
| Investment Banking & Brokerage Services |
|
2.4% |
| Non-life Insurance |
|
2.3% |
| Travel & Leisure |
|
2.3% |
| Industrial Support Services |
|
1.9% |
| Electronic & Electrical Equipment |
|
1.7% |
| Telecommunications Service Providers |
|
1.6% |
| Chemicals |
|
1.5% |
| Consumer Services |
|
1.5% |
| Finance & Credit Services |
|
1.3% |
| Industrial Engineering |
|
1.2% |
| Software & Computer Services |
|
1.1% |
| General Industrials |
|
1.1% |
| Renewable Energy |
|
1.0% |
| Personal Goods |
|
1.0% |
| Real Estate Investment Trusts |
|
0.9% |
| Electricity |
|
0.9% |
| Aerospace & Defence |
|
0.8% |
| Medical Equipment & Services |
|
0.7% |
| Retailers |
|
0.7% |
| Cash and Equivalents |
|
0.3% |
| Precious Metals & Mining |
|
0.1% |
| Non-Classified |
|
<0.1% |
| Leisure Goods |
|
<0.1% |
ICB Subsectors
| Banks |
|
15.6% |
| Biotechnology |
|
9.5% |
| Pharmaceuticals |
|
8.9% |
| Integrated Oil & Gas |
|
8.0% |
| General Mining |
|
4.0% |
| Tobacco |
|
4.0% |
| Multi-Utilities |
|
3.6% |
| Nonferrous Metals |
|
3.6% |
| Life Insurance |
|
2.9% |
| Media Agencies |
|
2.2% |
| Food Products |
|
2.0% |
| Asset Managers & Custodians |
|
1.9% |
| Telecommunications Services |
|
1.6% |
| Nondurable Household Products |
|
1.5% |
| Vending & Catering Service |
|
1.5% |
| Property & Casualty Insurance |
|
1.4% |
| Casinos & Gambling |
|
1.4% |
| Financial Data & Systems |
|
1.3% |
| Professional Business Support Services |
|
1.3% |
| Food Retailers & Wholesalers |
|
1.3% |
| Water |
|
1.2% |
| Electronic Equipment: Gauges & Meters |
|
1.2% |
| Machinery: Specialty |
|
1.2% |
| Computer Services |
|
1.1% |
| Diversified Industrials |
|
1.1% |
| Building Materials: Other |
|
1.1% |
| Alternative Fuels |
|
1.0% |
| Radio & TV Broadcasters |
|
1.0% |
| Clothing & Accessories |
|
1.0% |
| Construction |
|
1.0% |
| Office REITs |
|
0.9% |
| Conventional Electricity |
|
0.9% |
| Travel & Tourism |
|
0.9% |
| Full Line Insurance |
|
0.8% |
| Chemicals: Diversified |
|
0.8% |
| Publishing |
|
0.8% |
| Defense |
|
0.8% |
| Specialty Chemicals |
|
0.7% |
| Medical Equipment |
|
0.7% |
| Industrial Suppliers |
|
0.6% |
| Apparel Retailers |
|
0.6% |
| Electrical Components |
|
0.5% |
| Investment Services |
|
0.5% |
| Personal Products |
|
0.5% |
| Farming, Fishing, Ranching & Plantations |
|
0.5% |
| Engineering & Contracting Services |
|
0.4% |
| Cash and Equivalents |
|
0.3% |
| Copper |
|
0.2% |
| Gold Mining |
|
0.1% |
| Specialty Retailers |
|
<0.1% |
| Non-Classified |
|
<0.1% |
| Photography |
|
<0.1% |
Interactive Sector Breakdown
Drill down to specific information by clicking the folders.
Breakdown By Market Cap (%)
Top 10 Holdings
|
|---|
| Stock name | % Weight | Country | Sector |
| 1 | HSBC HOLDINGS | 8.5 %
| United Kingdom | Financials |
| 2 | SHELL | 4.3 %
| United Kingdom | Energy |
| 3 | ASTRAZENECA | 4.3 %
| United Kingdom | Health Care |
| 4 | IMPERIAL BRANDS | 4.0 %
| United Kingdom | Consumer Staples |
| 5 | GSK | 3.9 %
| United Kingdom | Health Care |
| 6 | BP P.L.C. | 3.7 %
| United Kingdom | Energy |
| 7 | NATIONAL GRID | 3.6 %
| United Kingdom | Utilities |
| 8 | PENSANA | 3.6 %
| United Kingdom | Basic Materials |
| 9 | MESOBLAST LIMITED | 3.5 %
| Australia | Health Care |
| 10 | LLOYDS BANKING GROUP | 3.5 %
| United Kingdom | Financials |
|
FL Dual Aspect Analysis
|
|---|
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Managed Funds | Property | Other | Cash & Equiv | Total |
| Technology | 1.1%
| | | | | | | | | 1.1%
|
| Telecommunications | 1.6%
| | | | | | | | | 1.6%
|
| Financials | 23.6%
| 0.9%
| | | | | | | | 24.5%
|
| Real Estate | 0.9%
| | | | | | | | | 0.9%
|
| Consumer Discretionary | 8.0%
| 1.4%
| | | | | | | | 9.4%
|
| Consumer Staples | 9.7%
| | | | | | | | | 9.7%
|
| Energy | 9.0%
| | | | | | | | | 9.0%
|
| Utilities | 5.8%
| | | | | | | | | 5.8%
|
| Health Care | 14.8%
| 4.2%
| | | | | | | | 19.1%
|
| Industrials | 8.7%
| 0.5%
| | | | | | | | 9.2%
|
| Basic Materials | 7.4%
| 2.1%
| | | | | | | | 9.5%
|
| Cash and Equivalents | | | | | | | | | 0.3%
| 0.3%
|
| Non-Classified | 0.0%
| 0.0%
| | | | | | 0.0%
| | 0.0%
|
| Total | 90.6%
| 9.1%
| | | | | | 0.0%
| 0.3%
| 100.0%
|
Distribution Details
Distribution Type
Dividend
Distribution Payment Basis
Net
Charges
Discounted initial charge
0.000%
Net discounted AMC
0.750%
Annual Management Charge
1.50%
Ratings
Aims & Benchmark
Benchmark
FTSE All-Share Index
IA sector
UK All Companies
Aims
The Fund aims to provide a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than that of the FTSE All-Share Index over any five-year period.
Fund Administration
Fund Trustee/Depository
The National Westminster Bank plc
Fund Custodian
State Street Bank and Trust Company
Fund Background
Valuation point
Daily 12:00
Fund currency
Pound Sterling
Fund domicile
United Kingdom
Group Details
Group name
M&G Investments
Group address
10 Fenchurch Avenue
London
EC3M 5AG
United Kingdom
Group telephone
0800 390 390
Dealing telephone
0800 328 3196
Dealing
Settlement period: buy
3 days
Settlement period: sell
3 days
Data accurate at: 28/02/2026
Concentration Coefficient*
36
*A measure of portfolio concentration, e.g. where the fund coefficient is 25, this means the portfolio concentration is equivalent to holding 25 equally weighted stocks.
Risk Factors
Concentrated Portfolio
No
Investments Long Term
Yes
| Fund Specific Risks |
-
Charges to Capital - Part, or all of the periodic annual management fee(s) and expenses may be charged to
capital which could increase the potential for the capital value of your investment to be eroded. Your capital could
also decrease if income withdrawals exceed the growth rate of the fund(s).
-
Smaller Companies - The fund invests in smaller companies. Smaller companies shares can be more volatile
and less liquid than larger company shares, so smaller companies funds can carry more risk.
-
Value Of Investments - The value of investments, and any income can fall, as well as rise, so you could get
back less than you invested. Neither capital nor income is guaranteed.
-
Investments Long Term - Investments should be regarded as long term and are not suitable for money which may
be needed in the short term, you should always have a sufficient cash reserve.
|
Banks
United Kingdom
Australia
Ireland
Isle of Man
Switzerland
Canada
Germany
Cash and Equivalents
Non-Classified