M&G to move funds in-house from Cazenove

M&G is to bring its unfettered fund of funds range in-house from Cazenove this summer, as the house ...

M&G is to bring its unfettered fund of funds range in-house from Cazenove this summer, as the house seeks to increase the role of asset allocation in its portfolio construction. The group's portfolio management group, led by Mark Thompson, will take on the mandates from 1 July. The team is responsible for asset allocation for the £61bn Prudential Life Fund as well as having £500m under management. Thompson believes that asset allocation is an increasingly important driver of returns in the multi-manager sector. He will be responsible for the ultimate fund manager selection, backed up by ...