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M&G takes Japan equity star’s fund in-house

M&G takes Japan equity star’s fund in-house

M&G Investments has taken Citywire AA-rated manager Dean Cashman’s Japan equity fund in-house with plans to hand it to a new recruit, the asset management firm has announced.

The move would see the M&G Japan fund handed to Johan Du Preez, who will join the group in July.

Du Preez, who has 20 years of market experience, joins from M&G’s sister company Eastspring Investments, which is currently home to Cashman.

Cashman had run the UK-domiciled fund, which is registered for sale in three European markets, since June 2006 when he succeeded Vaughn Chang.

Du Preez was most-recently the lead manager on the Eastspring Investments-Japan Fundamental Value fund, which was launched as a Luxembourg-domiciled fund in September 2013.

The transition to Du Preez, which is subject to regulatory approval, will come into effect from September 1 2015.  Cashman’s role on the Eastspring Investments-Japan Dynamic fund is unaffected by these changes.

These changes come amid wider portfolio reorganisation at M&G, which also saw Mike Oliveros named as a co-manager alongside Charles Anniss on the M&G European Smaller Companies fund.

This move will see Oliveros support Anniss on the fund, while Anniss will continue serve as manager of the M&G European fund and two large mandates for an institutional client.

Meanwhile, on the UK-domiciled M&G Smaller Companies fund, lead manager Louise Nash will step down at the end of July and leave the group. Garfield Kiff will take over the fund.

The M&G Japan fund returned 180.7% in Japanese yen terms over the three years to the end of May 2015. This is while the Topix TR, its Citywire-assigned benchmark, rose 147% over the same period.

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