Simon Bailey, a small-cap equity fund manager at M&G Investments, is stepping down after nearly a decade in charge of the fund.
The manager is handing the £169m M&G Smaller Companies fund to Louise Nash, who joined M&G from Cazenove in 2008, on November 1.
The move comes as bottom-up manager Bailey, who has delivered top-quartile returns over his tenure, is to “develop a new role within the global equities team”. (article continues below)
Dave Fishwick, the head of retail investment management at M&G, adds: “Louise is ideally placed to take over from Simon, having worked side-by-side with him since joining M&G in July 2008.”