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M&G set to launch multi-asset income fund

M&G set to launch multi-asset income fund

M&G Investments is planning to boost its multi-asset range with the launch of a new income fund, Citywire Global can reveal.

The fund, announced as the M&G Income Allocation fund, is yet to be officially launched as it is awaiting regulatory approval but it is understood it will be registered for sale in a number of European countries over the next few months.

The aim of the multi-asset fund will be to achieve optimal income through a dynamic allocation strategy with between 30-35% of the portfolio expected to be invested in equities.

It will be managed by Steven Andrew, who currently runs the M&G Episode Income fund and has been with the UK firm since 2005.

The upcoming launch was unveiled to an investor audience of Italian private bankers and financial advisors at the annual M&G Bond Vigilantes Day in Milan last week.

While M&G confirmed the launch to Citywire Global at the group’s Italian event, no further details on its investment strategy were currently available but it is believed the new fund will be a Ucits-compliant vehicle.

Over the past year to the end of September 2013 the M&G Episode Income Fund (registered for sale in Luxembourg and in the UK) has returned 2.74% versus 0.74% by its Citywire benchmark, the LCI UK Balanced (50:50), over the same period.

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