Dave Fishwick is to take on the management of the £881 million (€1.2 billion) M&G Managed Growth Fund, from the beginning of September.
Randeep Somel, manager of the fund since 2013, will turn to concentrate on his main portfolio, the £2.2 billion M&G Global Basics Fund.
The M&G Managed Growth Fund, launched in 1994, will continue to invest primarily in collective investment schemes, including M&G retail funds. The fund will also maintain its focus on equity investment.
There will be no changes to the fund’s objectives or investment policy. Over time, Fishwick’s aim will be to bring the M&G Managed Growth Fund in line with M&G’s multi-asset top down investment approach.
Fishwick has over 28 years of experience of managing macro and multi-asset mandates including managed funds, and in the past has also worked on developing M&G’s approach to multi-asset investment.
He has headed M&G’s multi-asset team, which has close to £5 billion in assets under management, for the last 17 years. In his new role he will retain all his other mandates.
©2015 funds europe