M&G appoints co-manager for French on Managed Growth

M&G has promoted Randeep Somel to become co-manager of the £1.2bn Managed Growth fund, working alongside existing manager Graham French.

Somel has worked with French over the past six years, and was previously deputy manager on the fund, run by French since 1996. Managed Growth has returned 69.8% over the three years to 16 March versus an average return of 55% for the IMA Flexible Investment sector, according to Morningstar. Somel joined M&G in 2005, rising to become deputy fund manager on Managed Growth and French's £6bn Global Basics fund in 2010, and will continue as deputy of Global Basics following his promotion. Separately, former Threadneedle manager Phil Cliff has taken over management of the £23m M&G Pan Eu...