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Fund updates

Tony Finding 07/02/2019

M&G Episode Allocation Fund - Fund Manager Q&A

2018 was a challenging year for multi-asset investors, with some analysis suggesting that 90% of asset types delivered negative returns over the calendar year. Moreover, those hoping that a multi-asset approach would automatically provide diversification in short phases of stockmarket weakness were also disappointed. In February and October, it was the growing expectation of rising interest rates that prompted volatility, meaning that fixed income did not play its traditional diversifying role. In this note, Tony Finding, lead manager of the M&G Episode Allocation Fund, considers the main developments in the past year, discusses how his fund responded, and where it leaves us for the period ahead.

Literature

  • M&G Episode Allocation Fund - GBP - A Acc - Costs and charges illustration PDF
  • M&G Episode Allocation Fund - Sterling A Acc - Factsheet - (UK) PDF
  • M&G Episode Allocation Fund - GBP - A Acc - Key Investor Information Document (UK) PDF
  • M&G Episode Allocation Fund - Sales Aid PDF
  • M&G Episode Allocation Fund - Quarterly Review PDF
  • M&G Episode Allocation Fund - Annual Short Report PDF
  • M&G Episode Allocation Fund - Interim Short Report PDF
  • M&G Multi Asset Funds - Navigating a changing investment environment PDF
  • M&G Investment Funds (4) - Annual Long Report PDF
  • M&G Investment Funds (4) - Interim Long Report PDF
  • M&G Investment Funds (4) - Instrument of Incorporation PDF
  • M&G Investment Funds (4) - Prospectus PDF

Fund team

Fund manager tenure from 21/01/2011
Tony Finding joined PPM (now M&G) in 1997 as an economist. Subsequently, he took responsibility for the generation of views on yield curve and foreign exchange trading opportunities. In 2001, Tony developed his expertise in credit and exotic fixed interest securities by spending time seconded to Prudential's US-based investment management team. Tony has been in his current role as a member of the Multi Asset team since 1999. Tony is co-fund manager of the M&G (Lux) Dynamic Allocation Fund (and held the same position on the UK-authorised UCITS which merged into this fund on 16 March 2018). Since January 2011 he has been the co-fund manager of the M&G Episode Allocation Fund, a UK-authorised UCITS. He holds a BSc in economics from the LSE and is also a CFA charterholder.
Juan Nevado joined PPM (now M&G) in 1988 and has been working as part of the Multi Asset team led by Dave Fishwick since 1999. He is co-fund manager of the M&G (Lux) Conservative Allocation Fund and the M&G (Lux) Dynamic Allocation Fund (and held the same positions on the UK-authorised UCITS which merged into these funds on 16 March 2018). Since January 2011 he has been co-fund manager of the M&G Episode Allocation Fund, a UK-authorised UCITS. Prior to joining M&G, Juan worked as a bond economist at the Bank of Montreal, and before that, as an economist for the Commodities Research Unit, a private business consultancy specialising in macro/micro research on commodities markets. Juan has a BSc in economics from the LSE and an MA in economics from Warwick University.
Craig Moran is co-fund manager of the M&G (Lux) Conservative Allocation Fund and the deputy fund manager of the M&G (Lux) Dynamic Allocation Fund, both Luxembourg-domiciled SICAVs. He held the same positions on the UK-authorised UCITS, which merged into these funds on 16 March 2018. Since 2011 he has been the deputy fund manager of the M&G Episode Allocation Fund and since 2013, of the M&G Managed Growth Fund. Craig joined M&G in 2005 as a performance and risk analyst, and was later promoted to a fund managers’ assistant to the Multi Asset team. In 2010, he became the team’s investment analyst. Craig holds a bachelor of business degree from Queensland University of Technology and a masters in applied finance and investments from the Financial Services Institute of Australasia. He is a CFA charterholder.
Ana Cuddeford is the investment specialist covering M&G’s multi-asset fund range and the M&G Global Convertibles Fund. She joined M&G in December 2013 from FTSE Group, where she had helped execute their FTSE4 Good company engagement. Prior to that, Ana spent 16 years in equity sales, the last 11 of which were at financial group Citi. She is fluent in English, Spanish and Italian and has a good command of French. Ana graduated from the University of Wales, College of Cardiff with a BSc (Hons) in European community studies.

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