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Richard Woolnough's £17.5m deal outstrips Pru chief's

Richard Woolnough's £17.5m deal outstrips Pru chief's

M&G bond fund manager Richard Woolnough was the mystery recipient of a £17.5 million pay reward, according to Sky News.

The deal was buried in M&G-owner Prudential's annual report, published early this week, which revealed Prudential chief Tidjane Thiam took home £8.7 million in 2013.   

Woolnough (pictured), who is + rated by Citywire, runs a range of funds for the firm that includes the £16 billion M&G Optimal Income fund.

This fund has significantly outperformed its benchmark over the last three years, returning 7.74% versus 0.89% by the benchmark in what was a tough year for bond funds.

Over three years the fund has returned 30.9% versus at 22.7% rise by the benchmark.

M&G declined to comment.   

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Richard Woolnough
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40/56 in Bonds - Sterling Strategic Bond (Performance over 3 years) Average Total Return: 12.44%
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