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French surrenders lead on M&G Managed Growth while Odd departs firm


M&G fund manager Graham French has handed lead management of the £1.3bn M&G Managed Growth fund to co-manager Randeep Somel.

The news comes as Alex Odd, incumbent manager of the £1.4bn M&G Dividend fund departs the firm, handing over managerial duties to Phil Cliff.

French has managed M&G Managed Growth since 1996 while Somel joined as co-manager in April 2012.

M&G says Somel’s appointment is a “natural progression”, given his increasing responsibility for portfolio construction and stock selection. The fund’s investment approach will not change.

The M&G Managed Growth fund is ranked fourth quartile in the IMA Flexible sector over one, three and five years to the end of June, according to FE Analytics.

French also manages the £4.9bn M&G Global Basics fund.

Cliff takes up the role on M&G Dividend after joining the asset management house 18 months ago and will work alongside deputy manager John Weavers. He also runs the M&G Pan European Dividend fund.

The M&G Divided fund is ranked fourth quartile in the IMA UK Equity Income sector one year and third quartile over three and five years.

M&G Managed Growth’s cumulative performance to 28 June 2013

Fund -7.28% 0.56% 10.76% 10.80% 16.29%
-1.76% 7.23% 16.04% 23.94% 23.74%
-5.63% -6.21% -4.55% -10.60% -6.02%
  126 / 131 117 / 130 102 / 127 99 / 108 80 / 92
4 4 4 4 4

M&G Managed Dividend’s cumulative performance to 28 June 2013

Fund -2.31% 6.46% 17.47% 39.70% 39.45%
0.41% 10.69% 22.82% 44.19% 45.29%
-2.71% -3.82% -4.36% -3.12% -4.02%
  94 / 99 89 / 98 85 / 97 57 / 88 49 / 73
4 4 4 3 3

Source: FE Analytics


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