Mike Felton, still formally the manager of the M&G UK Select fund despite being away since August, has extended his period of leave from the group because of ill health.
He was scheduled to return to work in January and begin managing the fund but is instead continuing treatment. He is expected to rejoin M&G in the new year, the group says.
While Felton has been away, his deputy manager, Garfield Kiff, has managed UK Select as well as UK Growth, which he has run since 2007.
Kiff will continue to run UK Select until Felton returns.
Stuart Goodwin, an analyst at Hargreaves Lansdown, is advising investors to continue to hold the fund, pointing to Kiff’s strong relative performance since the handover in August.