M&G appoints manager of dividend fund

DividendsLondon-based M&G Investments has appointed Michael Stiasny as fund manager of its 55-year-old £1.1 billion dividend fund.

 In a statement, the firm said that Stiasny would bring a fresh approach to the fund and would, focus on higher yield similar to that of the £1.1 billion Charifund, which Stiasny manages for M&G’s charity clients.

“As well as focusing on higher yielding stocks, Stiasny will gradually increase the number of holdings in the portfolio to diversify the sources of income,” the firm said in the statement. “There will be no change to the fund’s aims, objective or policy.”

The fund will complement the range of UK equity strategies that Stiasny manages which aim to provide increasing income streams, having last year taken the reins of the £581 million M&G UK Income Distribution Fund.

 Incumbent manager, Phil Cliff, who has 20 years of pan-European investment experience, will continue managing the M&G Pan European Dividend and the M&G European Select funds.

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