M&G has appointed co-deputy manager of its UK Select fund Rory Alexander as fund manager following the departure of incumbent manager Sam Ford.
Alexander takes over responsibility of the £567.9m portfolio with immediate effect.
M&G head of equities Anton Oliver says: “Rory has proven his ability as an astute investor for a fund that has a similar approach to the M&G UK Select fund.
“This is an opportunity for us to promote a young talent who I am confident will continue to provide excellent investment performance for our customers.”
The fund aims to provide a combination of income and capital growth that is higher than the FTSE All-Share Index over any five-year period.
The investment approach and management style also remain consistent under the fund’s aims.
Ford departs after a five-year stint at the head of the fund and will relocate to his native Scotland for a new role in Edinburgh outside M&G.
Oliver says: “We would like to thank Sam for his unfailing commitment to our customers over the last five years.”