M&G Global Basics fund manager Graham French is to leave the group, Investment Week, IFAonline.co.uk's sister title, reports.
M&G's retail funds under management are up 24% year on year to £64.5bn at 30 September, driven primarily by strong inflows from European clients, with UK flows turning positive again in Q3.
Today Invesco Perpetual revealed Neil Woodford, the most famous fund manager in Britain, is leaving next year to launch his own business.
M&G's Graham French has told investors last year was one of the toughest periods of his career as his fund underperformed amid a torrid time for commodities.
M&G Global Dividend was the best-selling fund on Cofunds in August, while Mixed Investment 20-60% Shares retained its position as the most popular sector for the eighth consecutive month.
Mixed Investment 20-60% shares was the most popular sector in July for the seventh consecutive month, according to sales data from Cofunds.