MGM recruit Stewart to head two managed fund launches

MGM Assurance has launched two managed funds, following the appointment of David Stewart as head of ...

MGM Assurance has launched two managed funds, following the appointment of David Stewart as head of investments. The MGM Cautious Managed and the Adventurous vehicles will be run by external investment managers, chosen through a best of breed approach. The Cautious Managed fund will hold between 10% and 20% of its assets in property and is expected to return an average of 7.2% per annum over a term of 10 years or more. It sits in the ABI Cautious Managed sector and is aimed at cautious investors with a time horizon of five years or more These should be seeking to avoid sharp fluctuations...