M&G's Tom Dobell has been upping his stake in the firm he described as formerly the "worst-run company" in the FTSE 100 in anticipation of a change of fortunes for the business.
The manager of the £6.9bn M&G Recovery fund has been increasing his exposure to Aviva in the last six months and the stock is now one of his largest active positions. Dobell (pictured) is running a 1.7% overweight position to the benchmark in the stock, as he puts his faith in the group's new management team. "After three hopeless chief executives, thank God we have got a compelling one," he told investors on a conference call this morning. "It was probably the worst-run company in the FTSE for years, but we are very happy with the changes there now." Aviva was dogged by problem...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
