M&G

Tom Dobell, manager of the £7.5bn M&G Recovery fund, has told investors he is working harder than ever to turn around the fund's performance after a difficult spell over the past couple of years.

Jim Leaviss, head of retail fixed income at M&G, has removed his short position on the yen in his £688m Global Macro Bond fund following the dramatic sell-off in the Japanese currency.

Real estate manager PRUPIM will be renamed M&G Real Estate as of the end of June as the firm looks to collaborate further with its parent company.

COPORATE BONDS

M&G has cut its position in St James's Place (SJP) after majority shareholder Lloyds sold down its own stake in the wealth manager.

As advisers digest last week's revelation that top UK fund manager Richard Buxton is to exit Schroders after more than a decade at the group, attention is now turning to where to invest next.

M&G broke its own records in 2012 to post soaring inflows and AUM at an all-time high, according to its full-year results, but expects sales in the UK to slow this year.

M&G's Mike Riddell has predicted further falls for sterling in the face of 'rampant' selling from the 'currency vigilantes', amid a drop in sterling yesterday to a new multi-year low.

Bond managers have cut duration to record lows, anticipating a fresh spike in gilt yields as they settle at a higher trading range.

THE BIQ QUESTION