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Felton move to lift M&G

IFAs believe that the coup of signing Mike Felton will breathe life into the M&G UK equity range.

Investment experts such as Chelsea Financial Services managing director Darius McDermott think that M&G’s patchy fund performance will be enhanced by the addition of Felton from F&C.

M&G announced last week that former Isis UK prime fund manager Felton is to come and manage its capital fund. He will also take up the newly created role of head of UK equities.

He will be responsible for pulling together the investment strategies across the UK and he will report to head of equity investment David Jane.

Jane believes that the addition of Felton, who will start in January 2005, will boost the status of M&G. He says it is time to start shouting about the performance of the fund range and hoped that investors that had been pleased with Felton’s performance at Isis would be similarly pleased with him at M&G.

The capital fund is 7.2 per cent up over a year and down 1.6 per cent over three years. Felton’s prime fund returned 22.3 per cent over three years and 16.2 per cent over one.

Jane says: “The whole UK equity team was invol-ved in making the decision about Mike coming. We believe his addition will strengthen the team that we already have here and mean we can really start shouting about what we are doing.”

McDermott says: “Felton is an excellent addition for M&G. It has been a real coup getting him on board. Apart from the M&G recovery fund, its UK equity funds have been patchy and someone like Felton could kickstart its performance.”

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