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Dobell moves in as Pegrum leaves M&G

M&G has appointed Tom Dobell as manager of its British opportunities fund, replacing Neil Pegrum who quit to join Insight Investment at HBOS last week.

Following the departure of the high-profile Pegrum to Insight, where he becomes director of UK equities, M&G immediately filled the position internally with Dobell, the manager of its recovery fund.

M&G says it is disappointed about the disruption caused for intermediaries by Pegrum leaving the firm after 16 years, having managed the British opportunities fund for the last 14 years. But it says it is pleased to have the strength and depth in its investment team to replace him without any delay.

Dobell joined M&G in 1992 and has managed the recovery fund since March 2000 during which time he has taken its ranking to its current position of 37th out of 264 funds in the UK all companies sector from 238th, according to Standard & Poor&#39s Micropal.

At Insight, as well as being responsible for the existing UK growth fund, Pegrum will manage a new UK fund, with details soon to be announced.

Insight chief investment officer Michael Deakin says: “Neil&#39s track record speaks volumes. We are confident his undeniable investment prowess will make a great contribution to our team.”

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