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.
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.
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.
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.