M&G to launch multi-asset income fund

M&G is planning to hand strategist and chief economist Steven Andrew his first lead management role, with the launch of a multi-asset income product.

Investment Week understands the fund will have a global remit, investing across asset classes including equities, bonds, and property, and is likely to target a yield in the range of 4%-4.5%.

Andrew works on the group's multi-asset desk alongside David Jane and George Tsinonis. His role is to provide a macroeconomic view and create asset allocation strategies for the multi-asset fund range.

The fund will sit alongside Jane's £281m M&G Cautious Multi Asset vehicle, on which Andrew is deputy manager.

A spokesman for M&G says a multi-asset product is the missing piece in the group's income offering.