Until recently M&G relied on its fixed interest funds to counter the problems in its equity portfolios but a new strategy has improved the performance of its equity business
M&G HAS A lineage dating back to the beginning of the last century. It was formed in 1901 as Municipal and General Securities, the financial arm of a British engineering company. It also lays claim to launching the first unit trust in 1931. But its reputation hasn't always kept up with its pedigree. A few years ago its equity performance did little justice to its giant brand. Its strength in fixed interest helped it weather the rough times of its equity portfolios; and markets since the start of 2000 favoured this business strategy. But with the equity market recovery, M&G could not a...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes