Morningstar has downgraded the M&G Global Leaders fund to Neutral, saying it is "disappointed" by how M&G has handled long-standing manager Aled Smith's impending departure.
M&G announced in November that Aled Smith, manager of Global Leaders, will be stepping down from the role in April after 17 years at the firm, but M&G has yet to clarify who will pick up the mantle. Gautam Samarth has been deputy manager on the fund since April 2016. Morningstar initially moved the £476m fund from Bronze to Under Review following the news of Smith's departure, but have now said "it is difficult to form any view on the future of this fund". Morningstar defends fund ratings in 13-year data study In its weekly roundup of ratings and fund research reports, analyst Fati...
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