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M&G conducts bond reshuffle

M&G has made a management reshuffle on the group high yield bond funds following David Fancourt’s move to the group’s collateralised debt obligations (CDO) team.

M&G head of UK retail fixed income Jim Leaviss will take over the £1.1bn high yield corporate bond fund from Fancourt, with Stefan Isaacs moving into the role of deputy of the fund, while also replacing Fancourt as manager of the group £57.6m European high yield bond fund

Isaacs joined M&G’s fixed income team back in 2001 and has managed the £249m European corporate bond fund since April 2007. Leaviss will take on the deputy role having previosly run the European high yield bond fund from launch in 1999 until January 2003.

A spokesmen for M&G says: “David took an opportunity to move to the institutional side of the business which he felt was too good to turn down and with Jim and Stefan we have more than able replacements.”

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