Aldridge (pictured) currently runs the £858 million M&G Global Growth, £184 million M&G European, and £206 million M&G Pan European funds. Each has underperformed its sector average over the past three years.
Aldridge will be succeeded on Global Growth and Pan European by Olsen, who was recruited from Danske Capital. Over the three years until his departure from Danske at the end of last year, Olsen returned an average of 25.9% across his six global equity funds compared with a peer group average of 20.6%.
‘John William brings substantial experience in global equities and his appointment bolsters M&G’s well-established and successful equities team,’ said Michael McLintock, chief executive of M&G Investments.
Citywire + rated Charles Anniss, currently co-manager of the European fund, will become solely responsible for it from July 1. He will also become deputy manager of the Pan European fund and will continue in his role as manager of the M&G European Smaller Companies fund.
M&G stated that Aldridge would focus on his institutional mandates from July 1.