We would like to inform our customers and clients that Michael Wood will be appointed manager of the M&G Property Portfolio and Feeder of M&G Property Portfolio (the Fund), subject to some final regulatory checks. The incumbent manager, Justin Upton, has decided to leave at the end of the year to pursue a role elsewhere in the industry.
Michael has more than 30 years’ experience in commercial property and started working on the Fund in 2007, having joined M&G 15 years ago.
Having joined M&G 15 years ago and worked with the Fund since 2007, Michael has supported the Fund’s strategy and transacted more than £1.8 billion of assets, making him ideally placed to provide continuity and leadership.
Supported by Assistant Fund Manager, James Mieville, and the 16-strong wider Fund team, there will be a comprehensive handover of duties between now and the end of the year, after which Justin will leave M&G with our very best wishes for the future.
In April 2021 M&G confirmed it would waive its Annual Charge on cash held above 20% of the M&G Property Portfolio’s Net Asset Value until the end of 2021. Following a review by the Fund’s Authorised Corporate Director, M&G will continue this waiver until further notice.