M&G Manager Matthew Vaight to Leave

Matthew Vaight has managed the M&G Asian fund since 2008 and the M&G Global Emerging Markets fund since 2009

David Brenchley 8 June, 2018 | 5:56PM

M&G Manager is to Leave

Matthew Vaight, the manager of two Morningstar Bronze Rated emerging market funds, is to step down from his role at M&G towards the end of 2018 to pursue opportunities away from the asset management industry, the firm announced on Friday.

Vaight has managed the M&G Asian fund since 2008 and the M&G Global Emerging Markets fund since 2009, having been with the company for 22 years.

Michael Bourke, who currently manages the M&G Emerging Markets Income Opportunities fund, will take over on the GEM offering and Alastair Bruce will take over the Asian fund.

Graham Mason, chief investment officer for equities, multi-asset and retail fixed interest at M&G, hailed Vaight’s role in “spearheading M&G’s distinctive approach to investing in emerging markets”.

But he said the wider team which will take over at the end of this year was full of “exceptional individuals … who we feel confident will continue Matthew’s excellent work”.

Morningstar Analysts Place Fund Under Review

M&G has today announced that the manager of this fund, Matthew Vaight, is to leave the group and the industry at the end of 2018, cofirms Morningstar analyst Simon Dorricott. Vaight was a comanager on this fund at its launch in 2009 and became lead manager in 2012. Since then, he has been the key decision-maker.

Support has been provided by a team of five analysts and managers, including Michael Bourke, who joined the team in 2015. Bourke will be taking over as lead manager here and in the interim will be working alongside Vaight on this strategy.

Dorricott adds: "He already manages the equity sleeve and allocation between bonds and equities for the M&G Emerging Markets Income Opportunities fund, which launched in May 2017. He has a good level of experience, having covered emerging markets for over 13 years.

"It is the stated intention that the investment process will remain in place following the change in manager, but, given the forthcoming change in lead decision-maker and Bourke's slight bias towards macro views in comparison to Vaight, we are placing the fund's Morningstar Analyst Rating Under Review pending a meeting to fully understand the new manager's investment style."

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
M&G Asian GBP I Acc1,760.42 GBP-0.32
M&G Global Emerging Markets GBP I Acc305.16 GBP-0.63

About Author

David Brenchley

David Brenchley  is a Reporter for Morningstar.co.uk

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