M&G fund to have pure value focus

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The M&G North American Value fund, which launches with £20m in assets on 1 July with Richard Brody as manager, will resemble the value component of its manager's Prudential North American offering. Brody, known for his deep value style, said the Prudential fund is now overweight consumer discretionary stocks, which includes retail and autos, and financials, while its biggest underweights are in technology and healthcare. Classifying the Prudential fund, which has a 60-40 split between value and growth names, as core value, Brody said the M&G-branded vehicle will have a pure value focus. ...

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