M&G Securities Limited is changing the name, investment objective and investment policy of the M&G European Smaller Companies Fund with effect from 25 May 2018.        
         
These changes are summarised as:        

• The Fund will be renamed the ‘M&G Pan European Select Smaller Companies Fund’.        
• The Fund’s investment objective and policy will be split into specific statements and will better reflect what the fund sets out to do.        
• The Fund’s performance comparator will be clarified as the EMIX Smaller European Companies Index.        

         
All share classes of the fund are affected and are shown below with market identifiers. There are no other changes to the fund or its risk rating and there will be no changes to the way that the fund is managed.