Two of M&G Investments longest standing fund managers are to leave the firm.
During his 31-year career at M&G, Hughes also served as the manager of the M&G Recovery fund from 1987 to 2000, the M&G UK Smaller Companies fund from 1986 to 1992, and the M&G Charifunds from 2001 to 2016.
In his 17 year career at M&G, Smith also co-founded its global equity team with Graham French, former manager of the M&G Global Basics fund, as well as managing American and Asian funds and serving as head of equity research. He has run the M&G Global Leaders fund since 2002.
M&G said successors to Hughes and Smith would be announced in due course.