M&G changes fund focus

Vivian Bazalgette has repositioned the M&G Capital fund for out and out growth favouring large-cap stocks, the technology, media and telecommunications sectors and consumer cyclicals. Bazalgette, who is also M&G's chief investment officer, took over the running of the fund on 24 September from Tim Daniels, following a lengthy period of poor performance. The £142m fund had languished at the bottom of the performance tables for the All Companies sector. In the year to 16 January 2002, the fund was ranked 273 out of 285 funds, on an offer to bid basis, posting a negative return of 27%. ...