Salih to lead M&G equity push

Hak Salih is happy to admit his M&G equity income fund's mandate means he is quite likely to underperform his peers in a falling market. The £312.9m Income portfolio has to be fully invested in equities at all times and Salih does not have the option, unlike many of his competitors, to build up exposure to cash, bonds and convertibles in tough conditions. The flipside to this is that the portfolio should outperform in a rising market. Salih took over running the fund in October 2000 and M&G is about to embark on a drive to promote its equity income capabilities at a time when it is best...