Common use of Switching Clause in Contracts

Switching. 15.1.1 Holders of Shares in a Sub-fund may at any time switch all or some of their Shares of one Sub-fund (‘Original Shares’) for Shares of another Sub-fund of this or another M&G OEIC (‘New Shares’) provided they are eligible to hold Shares in that class or Sub-fund and are in the same currency. The number of New Shares issued will be determined by reference to the respective prices of New Shares and Original Shares at the valuation point applicable at the time the Original Shares are redeemed and the New Shares are issued.

Switching. 15.1.1 Holders of Shares in a Sub-fund may at any time switch all or some of their Shares of in one Sub-fund (‘Original Shares’) for Shares of another Sub-fund of this or another M&G OEIC (‘New Shares’) ), provided they are eligible to hold Shares in that class Class or Sub-fund and are in the same currency. The number of New Shares issued will be determined by reference to the respective prices of New Shares and Original Shares at the valuation point applicable at the time of Original Share are the Original Shares are redeemed and the New Shares are issued.