The ongoing charge figures (OCF) disclosed include direct costs to the fund such as, the annual management charge, administration charge and custodian charge but not portfolio transaction costs (including research costs). For M&G funds, the OCF is made up of the Annual Charge which may be discounted depending on the size of the fund, and extraordinary expenses. For M&G Property funds the OCF does not take into account the property operating expenses, also known as PER. The 'as at' dates for the ongoing charges will vary from fund to fund, and the components of the ongoing charge may differ between firms, so please see the relevant Key Investor Information Documents (KIIDs) for more information.
