M&G names new manager for dividend fund

M&G names new manager for dividend fund

M&G Investments has named Michael Stiasny as the new fund manager of the £1.1bn 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 £1.1bn Charifund, which Stiasny manages for M&G's charity clients. As well as focusing on higher yielding stocks, he 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 £581m 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.

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.