M&G has revamped the range of funds of funds it brought back in-house from Cazenove, prompting a tu...
M&G has revamped the range of funds of funds it brought back in-house from Cazenove, prompting a turnaround in performance. The group's portfolio management team, which is behind Prudential's with-profits fund and led by Mark Thompson, has shifted the investment process of the four funds towards an asset allocation basis. As part of the revamp, bond holdings were switched into equities and assets moved out of the UK and US and towards Asia, Latin America and Europe. In the run-up to the switch, the funds were consistently in the bottom half of their sectors. Since M&G retained invest...
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