M&G European Fund
Michael Stiasny
Fund manager: Michael Stiasny
Funds Managed: M&G European Fund, M&G European Special Situations Fund
The Fund’s prime objective is long term capital growth. It invests wholly or predominantly in a diversified portfolio of securities of European (excluding United Kingdom) issuers. When not wholly invested as above, it may also invest in companies which are listed or registered outside Europe but trade within it. Income is of secondary importance when investments are selected.
The M&G European Fund is a well diversified fund that invests in companies across Europe (excluding the United Kingdom). There is a strong focus on a company’s returns on capital and valuation drives every investment decision. Change is the common thread linking all stocks in the portfolio. The fund manager looks for undervalued companies whose undervaluation may bring about positive change at the business. The fund manager also holds stocks in companies after they have experienced change and whose ability to produce high and sustainable returns has not yet been recognised by the market. The fund manager uses a bottom-up approach to stock selection that is based on detailed research and avoids choosing stocks with reference to an index. Potential candidates are found through team discussions, screening and company contact. The fund manager also works closely with the risk management team to ensure that the primary driver of performance is stock selection.
Michael Stiasny joined PPM in 1998 as an equity analyst, becoming head of the pan-European equity research team in February 2005. He was appointed co-manager of the M&G European Fund in June 2007, becoming sole manager in February 2008. He also became manager of the M&G European Special Situations Fund on its launch in February 2008. Michael graduated in philosophy, politics and economics from Oxford University. He is also a CFA charterholder.
For more information on this fund please contact us.
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