Graham French exits M&G

The £4.2bn fund has suffered a prolonged period of underperformance over the past 18 months and beyond, for which French apologised last month. The manager (pictured) has run the portfolio since 2000, having been with M&G since 1989. Exposure to the struggling commodities and mining sectors hurt returns, especially during 2012. French subsequently cut back exposure to these areas, but the fund's performance has yet to recover. The manager said there were some days last year when he "felt like putting [my] head under a duvet and not getting up in the morning". He added that inves...