Randeep Somel, approaching his one-year anniversary as lead manager on the M&G Global Basics fund, has been busy revamping the portfolio with new stock and sector allocations.
Randeep Somel, the new manager of M&G's Global Basics, has revealed the fund is making new investments in miners again as he looks to position the portfolio for a new era.
M&G's Randeep Somel is looking to steer the £4.2bn Global Basics fund into new territory when he takes over from Graham French, buying technology, pharmaceuticals, and financials in a first for the portfolio.
M&G's Graham French has told investors last year was one of the toughest periods of his career as his fund underperformed amid a torrid time for commodities.
Every fund experiences periods of underperformance from time to time, but which out of favour fund managers could be about to turn things around?
M&G's Graham French has been selling down his exposure to commodities after falling prices and a ‘poorly managed' sector hit the performance of his Global Basics fund last year.
M&G has promoted Randeep Somel to become co-manager of the £1.2bn Managed Growth fund, working alongside existing manager Graham French.