Pru to roll trust into French's fund in latest M&G mergers

Prudential is proposing to merge three unit trusts into M&G funds run by Graham French, Alex Odd, and Matthew Vaight & Michael Godfrey in the latest review of its product range.

The proposed mergers will see M&G take over two funds that have been run for the insurer by BNY Mellon subsidiary Newton since 2004 - the £62m Prudential Newton Higher Income trust and the £164m Prudential Newton Managed trust. Subject to unitholder approval, the Higher Income trust, run by Newton's Tineke Frikkee, will merge into Alex Odd's £1.2bn M&G Dividend fund on 22 June. The Managed trust, run by Newton's Nick Clay, will merge into the £1.2bn M&G Managed Growth fund run by Graham French (pictured) on the same date. Meanwhile the £417m Prudential Pacific Markets trust, manage...