M&G changes managers on equity income desk

M&G has made several changes on its equity income desk, with two managers leaving the group as a result.

Following the continued underperformance of the 285m M&G Income fund, Alex Odd has taken over the management of the portfolio from current manager Hak Salih, who departed the company last week. Odd joined M&G in February last year from Jupiter, where he was assistant to Anthony Nutt.

Meanwhile, Jonathan Parker, manager of the equity components of the M&G Income and M&G Recovery investment trusts, has also left the group. This follows the hire of Nick Evans, former manager of the 180m DWS Blue Chip fund at Deutsche Asset Management.

In addition to taking over Parker’s responsibilities on the investment trusts, Evans will take over lead managerial control of the two portfolios from current manager Richard Hughes. This is to allow Hughes more time to manage the M&G Dividend fund and M&G Charifund.