M&G aims for boutique spirit in order to lift equity performance

Fund group focus

Following a restructure and a number of key appointments, M&G believes it has the right team and processes in place to get its message across to the market - but not everyone is convinced

M&G may be the longest established unit trust manager in the UK but that has not stopped it undergoing a swift turnover of key personnel in recent years. The departure of Phil Wagstaff, director of UK retail, and Simon Clark, head of discretionary sales, earlier this month has heralded a restructuring of the business. On the fund manager side, the group has a reputation for bonds rather than equities and has suffered the departure of Sam Morse, in September, back to his old firm Fidelity. None of the three fund of fund managers Investment Week spoke to have holdings in any M&G equity fu...