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Macro hedge fund manager to leave M&G

M&G InvestmentsFuture employment plans for Eric Lonergan remain unknown following his departure from M&G Investments, where he runs over £5 billion in assets.

M&G recently announced Lonergan would step down as macro hedge fund manager on December 1 after 16 years with the firm.

In a statement on LinkedIn, Lonergan said: “I will be leaving M&G at the end of the year. The opportunities in macro investing have rarely been better. After more than 15 years, it is time for a change.”

Before joining the firm in 2006, Lonergan served as managing director and head of economics for JPMorgan Cazenove for a decade.

Throughout his career, Lonergan has also published and co-authored three books, including the international bestseller in political economy, Angrynomics, co-written with Mark Blyth.

Lonergan also launched and continues to write for the Philosophy of Money blog.

He has yet to reveal any plans for the future and whether he will pursue a career in fund management or writing. He also wrote on LinkedIn: “As for the future? Watch this space …”

Following Lonergan’s exit, M&G implemented changes to management responsibilities within its multi-asset investment team.

Tony Finding has taken over as lead manager of the £770 million M&G Episode Growth Fund. He will be joined by Craig Simpson, who has continued to serve as co-manager of the fund.

Simpson has also replaced Dave Fishwick as lead manager of the £830 million M&G Managed Growth Fund.

Fishwick will continue to lead M&G’s $4 billion Episode Macro Strategy, which includes the $350 million M&G (Lux) Episode Macro Fund.

Before his departure, Lonergan served as a portfolio manager to the M&G (Lux) Episode Macro Fund. His responsibilities have been shared between newly appointed two co-deputies, Stuart Canning and Gautam Samarth.

Fabiana Fedeli, chief investment officer of equities, multi asset and sustainability at M&G, said: “These appointments are testament to the internal talent we’ve nurtured over the past two decades in the wider team, providing our clients with clarity and continuity.”

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