Tom Dobell to step down from £1.4bn M&G Recovery fund

Michael Stiasny to take over management

Tom Dobell, manager of the £1.4bn M&G Recovery fund, will step down from his management duties and leave the firm at the end of December.

He will be replaced by Michael Stiasny, who has spent 20 years at M&G and headed up its equity research team. The change, which is part of M&G's ongoing review into its range of mutual funds, will lead to a "refreshed investment approach for the fund", according to a spokesperson, which will have an "increased focus on the unloved mid-sized companies which have contributed most to value creation over the fund's lifetime", as well as the "valuation opportunities so often found when companies are going through difficulty". The vehicle's overall investment objectives and policy will rema...