M&G's Hughes to retire after 30 years at firm while Aled Smith exits

Further equity team changes

Richard Hughes, manager of M&G's £650m UK Income Distribution fund, is to retire in March 2018 after a 31-year career at the company, while Aled Smith, manager of the £527m M&G Global Leaders fund, is also stepping down.

During his time at M&G, Hughes also served as manager of the M&G Recovery fund between 1987 and 2002, the M&G UK Smaller Companies fund from 1986 to 1992 and the M&G Charifunds from 2001 to 2016., The company also announced the departure of Global Leaders fund manager Aled Smith will step down from his role in April next year after 17 years with the firm. He co-founded the global equity team and managed a number of American and Asian funds. He has managed the Global Leaders fund since 2002. Successors to both Hughes and Smith will be announced in due course. Commenting on Hughes...