M&G specialist media and telecoms fund manager Aled Smith is to take over as head of the firm's glob...
M&G specialist media and telecoms fund manager Aled Smith is to take over as head of the firm's global specialist equity team, replacing Greg Kerr.
David Jane, manager of M&G Financials, said: 'We don't want people to think Greg's been demoted, because he clearly hasn't. He is still running M&G Global Technology, a top-performing fund in his sector since launch and he just wants to concentrate more on that,' Jane added.
Meanwhile Jane, who was lead manager of Global Leaders, is to step away from the portfolio and Smith will take over that role as well.
Smith plans to institute a more active process on the fund, seeking greater input from the sector specialists and will play a greater role in deciding the cash positions and sector weightings within the fund.
Up until now Global Leaders has been run as a cut down version of the different specialist equity portfolios, which consist of healthcare, technology, communication and financial themes.
As part of recent changes at the group, Jane has taken on responsibility for M&G Managed, the in-house fund of funds, in addition to his Financials fund. The fund was previously managed by Richard Plackett, who left the group earlier this year to pursue other interests.