Cautious Managed fund for M&G

M&G has launched a Cautious Managed fund of funds to be run by Cazenove along with the M&G Growth, UK Growth and Balanced fund of funds portfolios launched in January. The Cautious Managed product will invest in 50% UK equity and 50% fixed income funds. Cazenove head of multi-manager Mark Harries, who is named manager on the M&G portfolios, said the Cautious fund was created in response to IFA demand following roadshows for the initial three portfolios. 'People are becoming much more risk averse and this is being pitched as a lower-risk option,' he said. 'The equity side will be style...