M&G Asian Fund
Fund Manager: Michael Godfrey
Funds Managed: Co-manager M&G Asian Fund, M&G Global Emerging Markets Fund
Fund Manager: Matthew Vaight
Funds Managed: Co-manager M&G Asian Fund, M&G Global Emerging Markets Fund
The Fund’s sole objective is long term capital growth. It invests wholly or mainly in a range of Asian (including Australasian) securities. When not wholly invested as above, the Fund may also invest in global securities with the exception of Japanese securities.
The M&G Asian Fund is an equity fund invested in publicly listed companies throughout Asia, excluding Japan, regardless of sector or size. The fund managers focus exclusively on bottom-up stock selection aiming to deliver consistent top-quartile performance in the Asia Pacific ex Japan sector. (In the UK, this is the IMA Asia Pacific ex Japan sector; in Europe, the Morningstar Equity Asia Pacific ex Japan sector.)
It is the core belief of the fund managers that value creation for shareholders, not economic growth, drives share prices over the long run. Consequently, investment decisions are determined by the fundamental analysis of individual companies and the fund’s country and sector exposure is not influenced by top-down views.
The investment strategy of the fund is to identify companies that are undergoing improvements in their return on capital, either through external change, internal change or asset growth. The fund also invests in quality franchises where the sustainability of a company’s return is under-appreciated by the market.
The fund managers aim to hold between 50 and 70 stocks, with a typical holding period of three years. The fund takes a long-term investment view to take advantage of valuation anomalies created by the short-term nature of Asian stockmarkets.
Michael Godfrey joined M&G in August 2004 as a fund manager on the equity structured products desk. He is a member of the global team and is co-manager of the M&G Asian Fund and the M&G Global Emerging Markets Fund. Prior to joining M&G, Michael worked for Shell Pensions Management Services as an assistant portfolio manager and was later promoted to portfolio manager. Prior to this, Michael worked for Westpac Investment Manager as a portfolio manager. He graduated in 1997 from UTS, Sydney, with a bachelor of business, majoring in finance and economics. Michael is a CFA charterholder.
Matthew Vaight joined M&G’s UK equity desk in 1996. He is a member of the global equity team and is co-manager of the M&G Asian Fund and the M&G Global Emerging Markets Fund. In addition, he is deputy fund manager of the M&G Global Basics Fund and co-manager of the Vanguard Precious Metals & Mining Fund. Matthew graduated from Oxford University with an honours degree in mathematics. He is a member of the UK Society of Investment Professionals (UKSIP).
For more information on this fund please contact us.
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