M&G fund manager David Jane has been promoted to head up the group's investment process. Jane, who...
M&G fund manager David Jane has been promoted to head up the group's investment process.
Jane, who joined the group in December 2000, has been a member of the group's Global Specialist Equity team and is manager of the M&G Financials fund, which he will continue to run in addition to his new responsibilities.
The position will involve Jane co-ordinating the investment processes between the analysts and the heads of the investment desks.
His role will be separate to that of chief investment officer, Vivian Bazalgette, and more in line with the heads of the investment desks at the group.
Phil Wagstaff, managing director retail at M&G, said the purpose of the new role will be to facilitate communication between the teams to ensure that analysts views are being heard and that there is opportunity for a full and open debate on stock selection.
While each fund manager has ultimate responsibility and accountability for their own portfolio, analysts do the background work and put out recommendations.
Wagstaff said the fund managers asked for the change to the current system as they felt that they may be missing out on opportunities because of a lack of communication.
Jane was selected, according to the group, due to his previous experience as an analyst. Prior to joining M&G Jane worked at Axa as head of global financials research and before that was with Newton, also as director of global financials research.
Being one of the most experienced analysts at M&G, it was felt that Jane was best suited to this position, while keeping its more experienced fund managers concentrating on their individual portfolios.
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