M&G hires Cliff to run Pan European Dividend fund

Phil Cliff, former manager of the £1bn Threadneedle European fund, has joined M&G to manage its Pan European Dividend fund.

Cliff, who was most recently head of European equities at Occam, will work with M&G Global Dividend manager Stuart Rhodes in running the £22m fund, freeing up existing manager Richard Halle to concentrate on running his £101m European Strategic Value fund. Pan European Dividend has returned 15.9% over the three years to 13 January versus an IMA Europe inc. UK sector average of 28.9%, according to Morningstar. European Strategic Value returned 21.8% over the same period. Cliff ran the £1bn Threadneedle European fund until 2007, when he left to join Occam Asset Management. He subsequ...