M&G Dynamic Allocation Fund
Fund Manager: Juan Nevado
Funds Managed: M&G Dynamic Allocation Fund
Fund Manager: Tony Finding
Funds Managed: M&G Dynamic Allocation Fund
The fund aims to provide a total return to investors based on exposure to optimal income streams in investment markets.
The M&G Dynamic Allocation Fund aims to generate a high level of risk-adjusted returns over a three-year time horizon. To achieve this, the fund manager utilises a dynamic, flexible and unconstrained approach that allows him to target undervalued assets throughout the economic cycle and respond in a decisive manner to changing conditions. This means that asset allocation is the primary driver behind the fund’s returns. The fund manager can invest in equities, fixed income or other assets, notably collective investment schemes, other tradeable assets, cash, cash-like instruments, deposits, warrants and money market instruments. Derivative instruments can play a part in the investment or hedging process.
Understanding of macroeconomic factors and the market’s attitude towards risk helps the fund manager to create a suitably balanced portfolio. After a macroeconomic assessment, valuations drive the fund manager’s investment decisions within the asset classes identified in the analysis. However, portfolio construction and risk management are critical factors in determining the structure of the fund. This involves determining an appropriate level of overall risk for the portfolio, given the prevailing market conditions, and the correct combination of assets to ensure adequate diversification and return.
Juan Nevado joined PPM (now M&G) in 1988 and has been working as part of the macro investment team led by Dave Fishwick since 1999. Prior to joining M&G, Juan worked as a bond economist at the Bank of Montreal, and, before that as an economist for the Commodities Research Unit, a private business consultancy specialising in macro/micro research on commodities markets. In January 2011, Juan was appointed co-manager of the M&G Dynamic Allocation Fund and two other M&G funds. Juan has a BSc in economics from the LSE, and, an MA in economics from Warwick University.
Tony Finding joined PPM (now M&G) in 1997 as an economist. Subsequently, he took responsibility for the generation of views on yield curve and foreign exchange trading opportunities. In 2001, Tony developed his expertise in credit and exotic fixed interest securities by spending time seconded to Prudential’s US-based investment management team. Tony has been in his current role as a member of the macro investment team since 1999. In January 2011, Tony was appointed co-manager of the M&G Dynamic Allocation Fund and one other M&G fund. He has a BSc in economics from the LSE and is also a CFA charterholder.
