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28 February 2019
M&G today announces that Michael Stiasny has been appointed as the new fund manager of the £1.1 billion M&G Dividend Fund, with immediate effect.
Stiasny brings a fresh approach to the 55 year-old M&G Dividend Fund, focusing on a higher yield similar to that of the £1.1 billion Charifund, which Stiasny manages for M&G’s charity clients. As well as focusing on higher yielding stocks, Stiasny will gradually increase the number of holdings in the portfolio to diversify the sources of income. There will be no change to the Fund’s aims, objective or policy.
This fund will complement the range of UK equity strategies that Stiasny manages which aim to provide increasing income streams, having last year taken the reins of the £581 million M&G UK Income Distribution Fund.
Incumbent manager, Phil Cliff, who has 20 years of pan-European investment experience, will continue managing the M&G Pan European Dividend and the M&G European Select funds.
Anton Oliver, Head of Equities, M&G says:
“During Michael’s time in the financial markets and as a fund manager, he has demonstrated strong strategic and stock selection skills. Michael’s stewardship of the Charifund has grown the income distributions to charities year-on-year, allowing them to maintain the important work they do throughout the country. He can now emulate this investment approach for a broader range of our customers.”
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Notes to Editors
Michael Stiasny is the fund manager of Charifund and, since 1 April 2018, of the M&G UK Income Distribution Fund. He is also deputy fund manager of both the M&G Recovery Fund and the M&G Global Recovery Fund. He joined M&G in 1998 as an equity analyst, becoming head of the equity research team in 2004. He was appointed deputy fund manager of the M&G Recovery Fund in 2011. Michael graduated with a degree in philosophy, politics and economics from the University of Oxford in 1997. He is a CFA charterholder.
M&G Investments is part of M&G Prudential, a savings and investment business which was formed in August 2017 by our parent company, Prudential plc and has £341.9 billion of assets under management (as at 30 June 2018). M&G Prudential has over 7 million customers in the UK, Europe, Asia and the Americas including individual savers and investors, life insurance policy holders and pension scheme members.
M&G Prudential is set to demerge from Prudential Plc to become an independent company listed on the London Stock Exchange.
For nearly nine decades M&G Investments has been helping its customers to prosper by putting investments to work, which in turn creates jobs, homes and vital infrastructure in the real economy. Its investment solutions span equities, fixed income, multi asset, cash, private debt, infrastructure and real estate. M&G recognises the importance of responsible investing and is a signatory to the United Nations Principles for Responsible Investment (UNPRI) and is a member of the Climate Bonds Initiative Partners Programme. Its £30 billion property arm has a sector leading approach to responsible property management and is committed to continuously improving the sustainability performance of its funds.
For journalists only. Not for marketing purposes. Issued by M&G Securities Limited which is authorised and regulated by the Financial Conduct Authority and provides investment products. The company’s registered office is Laurence Pountney Hill, London EC4R 0HH. Registered in England No.90776.