Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

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.   

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Wealth Manager on Twitter