M&G shakes up management on equity and bond funds

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Jim Leaviss will step back from one of his bond funds

M&G is shaking up management on the UK Income Distribution and European Inflation Linked Corporate Bond funds.

Michael Stiasny will replace Richard Hughes when he retires from the £650m UK Income Distribution fund at the end of March. However, Stiasny will become co-deputy manager alongside Sam Ford immediately.

Stiasny will continue to manage Charifund, which he has run for the last year, and remain deputy manager of the Recovery fund.

Hughes’ retirement was announced earlier this month when M&G also revealed Global Leaders fund manager Aled Smith will leave the firm in April. A spokesperson for M&G says a replacement for Smith will be announced in due course.

Wolfgang Bauer will replace Jim Leaviss on the bond fund from January, but will remain co-manager with Leaviss on the Absolute Return Bond fund and deputy manager on the Global Corporate Bond and the M&G European Corporate Bond funds.

The investment strategies for both the UK Income Distribution and European Inflation Linked Corporate Bond funds will remain the same.

M&G CIO for equities, multi-asset and retail fixed interest Graham Mason says Stiasny and Bauer have proven their ability to deliver “excellent” outcomes for customers. “These appointments are testament to the internal talent we nurture and promote at M&G.”