M&G Dividend manager Odd exits as French hands over Managed Growth

M&G Investments' Alex Odd (pictured) has left the firm, handing his underperforming £1.4bn M&G Dividend fund to Phil Cliff amid a re-shuffle of the group's equity desk.

Cliff, an ex-threadneedle manager who joined M&G eighteen months ago from Occam, will continue to head up the group's Pan European Dividend fund as well as running the Dividend fund. M&G has also announced Randeep Somel will take over as lead manager of the £1.2bn M&G Managed Growth fund from Graham French. French, who is lead manager of the £4.9bn M&G Global Basics fund, will become deputy manager of the fund. Somel was appointed co-manager of the M&G Managed Growth Fund in April 2012. He is also deputy manager of the M&G Global Basics fund. Odd's fund has suffered recently,...