M&G has adjusted the management of three of its largest fixed income funds, which together hold almost £2 billion of assets.
The changes are:
|Previous manager||Current manager||Current deputy manager|
|£773 million M&G Gilt and Fixed Interest Income fund||Jim Leaviss||Mike Riddell||Jim Leaviss|
|£837 million M&G UK Inflation Linked Corporate Bond fund||Ben Lord and Jim Leaviss||Ben Lord||Jim Leaviss|
|£98 million M&G European Inflation Linked Corporate Bond fund||Ben Lord and Jim Leaviss||Jim Leaviss||Ben Lord|
Over the past three years, the M&G Gilt & Fixed Interest Income fund has returned 10.6% compared with an average of 11.6% from its IMA UK Gilts sector.
The M&G UK Inflation Linked Corporate Bond fund has generated 12.8% over the same period, compared with 19.7% from its average peer in the IMA Sterling Strategic Bond sector.
The M&G European Inflation Linked Corporate Bond fund has returned 12.1% through the same time, compared with an average of 7.8% from its Citywire Euro Inflation Linked Bonds sector.
Citywire + rated Jim Leaviss (pictured), head of the M&G retail fixed interest team, commented: ‘Since 2009 we have more than doubled the size of our team, from eight to 18 members, reflecting the client demand for existing and new strategies.
'With the addition of extra resource and experience to the team it is now appropriate to make adjustments to fund responsibilities. We believe these changes will allow the team to become even more focussed on asset classes than ever before, enabling fund managers to play to their strengths.’