Feb launch for Woolnough

richard woolnough to delay taking over m&G corporate bond until beginning of march

Richard Woolnough's managed M&G Strategic Corporate Bond fund is set to launch on 2 February, but he will not take over the group's £1.4bn corporate bond fund until 1 March. This is to enable the former Old Mutual fund manager to settle into his role, get the new fund up and running and meet key clients before taking on another portfolio. Strategic Corporate Bond will be a minimum 80% invested in sterling denominated investment grade corporate bonds, in line with the IMA UK Corporate Bond sector classification requirements. In reality, however, this will be nearer 81%-82% to cover marke...