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AAA-rated M&G veteran Hughes to exit

AAA-rated M&G veteran Hughes to exit

Two of M&G Investments longest standing fund managers are to leave the firm. 

Citywire AAA-rated Richard Hughes (pictured), who has managed the M&G UK Income Distribution fund since 2002, will retire from on 31 March 2018. 

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.

Meanwhile, Aled Smith will step down as the manager of the M&G Global Leaders fund in April 2018.  

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. 

The departures have prompted a reshuffle across M&G's equity desk, which sees Randeep Somel appointed deputy fund manager to David Williams on the M&G Global Recovery fund.  

Elsewhere Richard Halle will replace Somel as deputy on the M&G Global Themes fund, supporting lead manager Jamie Horvat

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Related Fund Managers

Richard Hughes
Richard Hughes
111/138 in Mixed Assets - Aggressive GBP (Performance over 3 years) Average Total Return: 26.04%
Jamie Horvat
Jamie Horvat
625/1835 in Equity - Global (Performance over 1 year) Average Total Return: 23.57%
David Williams
David Williams
625/1356 in Equity - Global (Performance over 3 years) Average Total Return: 22.14%
Randeep Somel
Randeep Somel
683/1356 in Equity - Global (Performance over 3 years) Average Total Return: 21.33%
Aled Smith
Aled Smith
584/1356 in Equity - Global (Performance over 3 years) Average Total Return: 22.81%
Richard Halle
Richard Halle
270/596 in Equity - Europe (Performance over 3 years) Average Total Return: 28.51%
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