Manager of the M&G Global Themes fund Alex Araujo has finalised a complete restructure of the £2.2bn portfolio, exiting more than half of the holdings since the start of the year in favour of a new crop of stocks.
Araujo was appointed as manager of the fund in January, following the departure of previous manager and director of global equities Jamie Horvat, with M&G signalling at the time that the portfolio would be moving "in a different direction" under its new leadership. Specifically, the new-look portfolio now invests in four structural trends: demographics, environment, infrastructure and innovation. As a result, the sector and geographic weightings of the fund now greatly differ to those at the start of the year. At the end of last year the fund's largest weightings by sector were to TMT...
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