The board of M&G Securities has promised "fresh action" over two of its funds, which were singled out as having "constantly underperformed for investors for some time" in the firm's first Assessment of Value (AoV) report published this week.
M&G's AoV, which reviewed the value in 246 share classes across 50 funds, found that while the majority of funds had delivered for investors on various metrics, the £1.4bn AUM M&G Recovery and £134m AUM Pan European Select Smaller Companies funds had failed with respect to performance. Board determines 'good value' on all HL multi-manager funds All fund managers offering funds in the UK have been publishing their first AoVs since the fourth quarter of last year, following the action taken by the Financial Conduct Authority in the wake of its 2018 Asset Management Market Study. The ...
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