M&G to merge funds of funds

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M&G's Jonathan Willcocks
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M&G's Jonathan Willcocks

M&G has received approval to merge the £40m Fund of Investment Trust Shares, run by Richard O'Connor, into the £811m Managed Growth fund following a shareholder vote. The merger was proposed due to the similarities in the underlying assets of the two vehicles and dwindling demand for the Fund of Investment Trust Shares; both mainly hold a diverse range of other investment vehicles. It will take place on 14 June 2019. The Managed Growth fund will continue to be managed by head of the mac...

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