Dobell: We cannot use M&G Recovery's size as an excuse

M&G Recovery fund manager Tom Dobell has said his recent poor performance is down to stock selection rather than the size of his fund.

The manager (pictured) has endured another tough year in 2014 but, in a conference call for investors, he dismissed suggestions his ability to outperform has been hampered by the scale of his multi-billion pound portfolio. M&G Recovery has shed £1.2bn in assets this year through a combination of outflows and poor performance, but remains £5.9bn in size. Asked whether the scale of the portfolio had caused problems of late, Dobell said: "We have had this question many times over the years, and the answer remains emphatically not. "We cannot hide behind size to justify poor stock sele...