M&G High Income Investment Trust to be wound up

12th December 2016 - M&G has announced that it is winding up its High Income Investment Trust on 17 March 2017. Existing investors, holding the fund within an ISA wrapper, have been given a number of options from M&G:

  1. Take no action - your investment will automatically switch into the M&G Extra Income fund
  2. Switch into M&G Extra Income, M&G Strategic Corporate Bond or M&G Dividend funds.
  3. Switch into JPM Elect Fund Investment Trust (please note, if you do this you will lose your ISA wrapper, which could have tax ramifications)
  4. Transfer your ISA to another provider.

Anyone wishing to take option 4 could transfer their M&G investment to the Chelsea FundStore, our fund supermarket powered by Cofunds. The monies can then be invested in the fund of your choice on the platform, and you can still keep your ISA wrapper.

Simply complete and return an ISA transfer form to us. Please note that you will need to return this form to us no later than 31 December 2016.

As an added bonus, if you return your transfer form before the end of the year, we will send you a £25 M&S voucher.

Please refer to the Terms & Conditions of the Cofunds platform. You will also need to read the Key Investor Information Documents (KIIDs) of the fund(s) you choose to invest into. Please visit www.chelseafs.co.uk or telephone us to request a paper copy.

If you would like to discuss your options, please do not hesitate to contact one of our experienced and helpful staff on 020 7384 7300.

Published on 12/12/2016