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Old Mutual bond star joins M&G

Richard Woolnough, star manager of Old Mutual&#39s top performing corporate bond fund, is leaving the group to join M&G&#39s fixed income team in the New Year.

Woolnough, the leading corporate bond fund manager of the past three years, will manage a fund M&G plans to launch in the first quarter of 2004. It will be developed after Woolnough&#39s arrival and will sit between M&G&#39s existing investment grade and high yield funds.

Managing director UK retail Phil Wagstaff says: “Richard&#39s joining M&G gives us the opportunity to launch a new fund, one which complements our existing range and lets Richard harness our extensive capability of one of the UK&#39s biggest players in fixed income.”

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