M&G to merge funds of funds

Slated for 14 June

M&G has received approval to merge the £40m Fund of Investment Trust Shares, run by Richard O'Connor, into the £811m Managed Growth fund following a shareholder vote.

The merger was proposed due to the similarities in the underlying assets of the two vehicles and dwindling demand for the Fund of Investment Trust Shares; both mainly hold a diverse range of other investment vehicles. It will take place on 14 June 2019. The Managed Growth fund will continue to be managed by head of the macro and multi asset investment team Dave Fishwick, who took over the fund in 2015 and is the architect of M&G's approach to multi-asset investment. M&G Investments UK retail sales head Watson departs after 25 years Launched in 1994, the Managed Growth fund invests ...