M&G has shuffled its fixed interest team with immediate effect.
The changes sees Ben Lord assume lead management of the £837m M&G UK Inflation Linked Corporate Bond fund with head of retail fixed interest team Jim Leaviss becoming deputy manager.
Previously, Lord and Leaviss were co-managers on the fund.
Leaviss will now work as a deputy manager on the the £773m M&G Gilt and Fixed Interest Income fund, which he used to work on as lead manager.
This fund’s lead manager is now Mike Riddell.
In turn, Leaviss will assume lead management of the £98m M&G European Inflation Linked Corporate Bond fund with Lord as deputy manager.
Prior to the changes, Lord and Leaviss were co-managers.
Leaviss say: “With the addition of extra resource and experience to the team it is now appropriate to make adjustments to fund responsibilities.
“We believe these changes will allow the team to become even more focused on asset classes than ever before, enabling fund managers to play to their strengths.”
Chase de Vere head of communications Patrick Connolly says: “The fixed interest team at M&G is running huge amounts of money and their challenge is to organise themselves so that the money is being managed effectively.
“There will still be a team approach to these funds which is important for us. We are more concerned about the size of the money. At the moment is not such a concern but it is something we will continue to monitor closely.”