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M&G Global Basics Fund - change of manager

Kate Marshall | Thu 17 December 2015

Investments can go down as well as up so there is always a danger that you could get back less than you invest. Nothing here is personalised advice, if unsure you should seek advice.

Jamie Horvat will take over as lead manager of the M&G Global Basics Fund on 18 December 2015. Randeep Somel, the fund's current lead manager, will assume the role of co-manager.

There will be no change to the fund's investment philosophy and process. The managers will continue to adopt the fund's thematic approach, which seeks to identify companies well placed to benefit from emerging trends across the global economy, including changing consumption and investment patterns.

Jamie Horvat and Randeep Somel plan to widen the range of themes within the fund over time. In our view, short-term performance will therefore be determined by the fund's existing investment approach. However over a prolonged period, performance will depend on any adaptation of the existing thematic approach.

Randeep Somel took over management of this fund in November 2013. Performance has since disappointed, with the fund falling by 4.9%* compared with a gain of 11.8% for the average fund in the sector, although please remember past performance is not a guide to future returns and this is over a relatively short timeframe.

Annual percentage growth
Dec 10 -
Dec 11
Dec 11 -
Dec 12
Dec 12 -
Dec 13
Dec 13 -
Dec 14
Dec 14 -
Dec 15
M&G Global Basics -0.6% -1.6% 2.1% 0.7% -4.0%
IA Global -3.5% 8.8% 21.3% 9.0% 3.6%

Past performance is not a guide to future returns. *Source Lipper IM to 01/12/2015.

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Jamie Horvat joined M&G at the end of 2013 as director of global equities. He has over 16 years' investment experience and has previously specialised in Canadian equities and the resources and precious metals sectors. He does not, however, have any track record in managing a broader portfolio of global equities.

While it is encouraging M&G are making efforts to improve performance, we are disappointed they have not yet provided further details on how the existing themes or objectives might change in future. The fund does not currently feature on the Wealth 150 list of our favourite funds across the major sectors. We currently prefer other funds in the IA Global sector, of which our favourites feature on the Wealth 150.

Find out more about this fund including how to invest

Please read the key features/key investor information document in addition to the information above.

Important information - Please remember the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. This article is provided to help you make your own investment decisions, it is not advice. If you are unsure of the suitability of an investment for your circumstances please seek advice. No news or research item is a personal recommendation to deal.


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