Alex Araujo has taken over as manager of the M&G Global Themes Fund. Jamie Horvat has stepped down as manager and will leave M&G.
Araujo uses a different investment approach to the one used by Horvat. He's introduced four themes that guide his investment decisions: demographics, environment, infrastructure and innovation. He invests in companies he thinks can benefit from these long-term, global trends. These include ones from higher-risk emerging markets. He also thinks more about how companies are run from an environmental, social and governance (ESG) point of view.
Araujo also currently runs the M&G Global Listed Infrastructure Fund, which he’s done since October 2017. It's quite different because it focuses specifically on companies related to infrastructure, like those that operate toll roads or airports. He doesn't have any experience managing a fund that can invest in all sectors across the globe though, and his overall track record is very short.
The manager's short track record, combined with the fact he hasn't run a broader global fund, means we don't see M&G Global Themes as a superior choice for investing globally. It's also gone through a number of changes over the years, so existing investors should consider if it still meets their objectives.
There are lots of experienced fund managers in the Global sector with much longer track records. We prefer to back those who've successfully invested across global markets for a long time. Our favourites are on the Wealth 50.
|Annual percentage growth|
| Dec 13 -
| Dec 14 -
| Dec 15 -
| Dec 16 -
| Dec 17 -
|M&G Global Themes||0.6%||-2.2%||32.9%||15.9%||-9.4%|
|IA Global Index||7.4%||4.0%||24.0%||14.2%||-5.8%|
Past performance is not a guide to the future. Source: Lipper IM to 31/12/2018