Fishwick, head of the multi asset team, replaces Randeep Somel who has been running the fund since 2013, and will instead now concentrate on managing the £2.2bn Global Basics Fund.
M&G’s Managed Growth Fund was launched in 1994 and invests primarily in collective investment schemes including M&G’s own retail funds. The fund will maintain its focus on equities investment, with no changes to the objectives or investment policy.
The fund has posted a marginal loss of 0.04% over the past three years, according to FE. The IA Flexible Investment sector has delivered an overall return of 20.46% for this period.
Fishwick will over time bring the Managed Growth Fund in line with M&G’s multi-asset top down investment approach, aiming to benefit from the stock picking of M&G’s equity funds and the asset allocation capabilities of the multi asset team.
Fishwick has been managing macro and multi-asset mandates for over 28 years, heading M&G’s multi asset team for the last 17 years. This team has close to £5bn in assets under management.
“With more than two decades of experience investing across the full range of asset classes and his intimate knowledge of M&G’s fund range, Dave is in the ideal position to take on the management of the M&G Managed Growth Fund,” said Graham Mason, head of retail equities, fixed interest and multi asset.