CityWire.co.uk – M&G is planning to alter the objectives of three of its leading fettered fund of funds to allow investment in a broader range of assets.
Under the plans the three funds – the M&G Managed Fund, M&G Managed Growth Fund and M&G Global Managed Bond Fund – will be able to invest in other financial instruments, including derivatives. There will also be an option for the latter two funds to invest in property.
M&G said the proposed changes are being made as part of the company’s adoption of the new COLL regulations. It is currently seeking shareholder approval for the move, and if approved they will take effect in January 2007.
However, the company stressed that the fund’s managers had no immediate plans to use the wider powers. The M&G Managed Fund is managed by David Jane, M&G Managed Growth by Graham French, and M&G Global Managed Bond by Jim Leaviss.
