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View the article online at http://citywire.co.uk/wealth-manager/article/a724711

M&G boss McLintock: fund price wars are ‘a road to hell’

by Robert St George on Dec 17, 2013 at 10:55

Indeed, McLintock noted that in certain areas managing capacity was now the greater issue. In 2012, for example, M&G acted to stem flows into two of Citywire A-rated Richard Woolnough’s bond funds.

McLintock also highlighted + rated Stuart Rhodes’s M&G Global Dividend fund, which has grown from £2 billion at the start of 2012 to £8.8 billion today.

‘I’ve had conversations with rivals at other fund management houses who speak with envy of the ability to get those kinds of volumes,’ McLintock said. ‘Frankly the issue we have with this fund is how we control the growth and don’t let the fund get too big, too fast.’

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1 comment so far. Why not have your say?

A Pershing customer

Dec 17, 2013 at 11:20

Hats off to McLintock for being honest and conceding that there are diseconomies of scale in fund management.

It's a tribute to him that he has not joined most large fund management CEOs who try to convince clients of the huge advantages that investing via a huge fund management company brings when everyone in the industry knows the reverse is true.

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