M&G property portfolio appoints new manager

Michael Wood

Michael Wood is set to replace Justin Upton as manager of the M&G Property Portfolio.

Wood will be appointed manager of the M&G Property Portfolio and M&G Feeder of Property Portfolio, subject to regulatory approval. Upton is set to leave the firm at the end of the year "to pursue a role elsewhere in the industry". Wood began working on the fund in 2007, and currently has more than three decades of experience in commercial property. He is currently an investment manager and has transacted more than £1.8bn in assets, while acquiring or managing 64% of the fund's current invested capital. Incoming M&G CEO staunchly refutes break-up possibility Wood will work...