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Bond chief Leaviss replaced on corporates fund

Bond chief Leaviss replaced on corporates fund

M&G Investments’ head of retail fixed interest, Jim Leaviss, is stepping down from the firm’s European Inflation Linked Corporate Bond fund, with Wolfgang Bauer stepping in as lead manager.

The move sees Bauer take sole responsibility for the UK-domiciled fund, which Leaviss has overseen since its launch in September 2010.

This approach, which is registered for sale in 15 markets across Europe, has €82 million in assets and is designed to generate total returns consistent with or greater than the rate of European inflation over any three- or five-year period.

Bauer currently co-runs the M&G Absolute Return Bond fund with Leaviss and is deputy to him on both the Global Corporate and European Corporate Bond funds. He will formally take on the lead fund role in January 2018.

Bauer has been within M&G Investments’ bond team since 2014 and primarily focuses on US investment grade credit.

On a three-year basis, the M&G European Inflation Linked Corporate Bond fund lost 0.27% in euro terms, which compares with a 7.7% rise by its Citywire-assigned benchmark, the FTSE MTS Eurozone Inflation-Linked Bond, over the same period to the end of October 2017.

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