“The M&G fund had a change of manager in September last year, when Randeep Somel handed the reins to David Fishwick.
“Performance over those past six months has been improved, although it’s early days yet, and the fund has struggled, really, since 2011.
“It’s a fettered fund of funds, so getting asset allocation right is very important, and it is reliant on the performance of the in-house funds, some of which have struggled in more recent times.
“David has been at M&G for a long time now and will no doubt both steady the ship and bring all his experience to bear on the fund. It seems to be in a safe pair of hands.”