InvestmentsMay 9 2013

Morningstar restores rating on M&G emerging markets funds

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ByNick Reeve

Morningstar OBSR has given Matthew Vaight’s M&G Asian and M&G Global Emerging Markets funds a Bronze rating following a review.

The funds were placed under review after Mr Vaight’s co-manager Michael Godfrey quit M&G in September to join institutional investment firm Marathon Asset Management.

Morningstar OBSR said the funds “continue to benefit from the experience and disciplined approach” of Mr Vaight and deputy manager Colm D’Olier.

The £581.3m M&G Asian fund ranked in the second quartile of the IMA Asia Pacific ex Japan sector in the five years to May 8 with a gain of 50 per cent.

The £1.1bn M&G Global Emerging Markets fund gained 20.6 per cent in the three years to May 8, ranking in the second quartile of the IMA Global Emerging Markets sector.