M&G to rename Lord's High Interest fund

M&G Investments is to change the name of Ben Lord's £339m M&G High Interest fund next month to reflect its new investment approach.

The fund will be renamed the M&G Short-Dated Corporate Bond fund on 9 November, in acknowledgement of a new investment approach that will enable manager Lord (pictured) to diversify away from investing in floating rate notes. "Ben Lord will be able to invest in the full range of assets the fund's investment policy currently allows, enabling the fund to achieve a greater level of diversification and removing the obligation to invest a large proportion of the portfolio in money market instruments such as floating rate notes," a spokeswoman for the group said. Floating rate notes account...