Following the news on 8th June 2018 that Matthew Vaight, manager of the M&G Asian and M&G Global Emerging Markets funds, has decided to leave the firm, we have removed both funds from our Recommended list.

Mr Vaight intends to remain with the firm until late 2018 and will continue in his fund management duties, as well as assist in the transition to new managers.  The new fund management structure has been drawn from the existing team-members, as follows:

• Alastair Bruce will become the manager of the M&G Asian fund upon Mr Vaight’s departure.  He joined M&G in 2011.   Loong Lim remains as co-deputy manager on the fund, alongside Alice de Charmoy.
• Michael Bourke will take over the management of M&G Global Emerging Markets upon Mr Vaight’s departure.  He joined the team in 2015 and has a strong emerging market background.  He currently co-leads the M&G Emerging Markets Income Opportunities fund with Charles de Quinsonas.  Alice de Charmoy continues as co-deputy manager of the fund, alongside Alastair Bruce.

There is no change to the distinctive approach applied to both funds, honed over many years under Mr Vaight’s stewardship.  This is characterised by a strict valuation discipline, which lends both funds a clear value style bias; this is relatively unusual in the IA Asia Pacific excluding Japan and the IA Global Emerging Markets sectors (please click through to our IA Sector Overviews for more information).

We have high regard for the process that has been thoughtfully developed at M&G and as such, we intend to meet with the team in the coming months as the changes take effect.  However, for now, both funds have been withdrawn from our service.