M&G Investments has announced that Eric Lonergan, lead manager of the firm’s £770m Episode Growth Fund, will leave the firm on 1 December.
From that date, Tony Finding will take over co-management responsibility, having joined the M&G multi-asset team in 1999.
Alongside him will be Craig Simpson, who co-managed the strategy with Lonergan. Simpson will also become lead manager of the £830m M&G Managed Growth Fund, a role which he assumes from head of macro investing Dave Fishwick, with whom he had worked closely. There will be no changes to how the funds are managed.
Fishwick remains lead manager of M&G’s $4bn Episode macro strategy, which includes the Luxembourg-domiciled $350m M&G (Lux) Episode Macro Fund, on which Lonergan had portfolio management responsibilities. Those will now be shared by Stuart Canning and Gautam Samarth, who have been appointed co-deputies as part of the reshuffle.
Fishwick said: “Eric has been instrumental in developing and communicating our unique investment philosophy that’s stood the test of time and successfully navigated ever more volatile markets. He leaves with our thanks and very best wishes for the future.”
Fabiana Fedeli (pictured), CIO of equities, multi asset, and sustainability, added: “These appointments are testament to the internal talent we’ve nurtured over the past two decades in the wider team, providing our clients with clarity and continuity. With the team’s collaborative approach to implementing investment ideas, we are well placed to navigate our strategies through the challenges and opportunities of the current investment landscape.”
In a post on LinkedIn, Lonergan said: “I will be leaving M&G at the end of the year. The opportunities in macro investing have rarely been better. After more than 15 years, it is time for a change. As a portfolio manager, it is nice to end on a high note with the strong performance of the hedge fund and long-only strategies. This is testimony to great colleagues and teamwork. I will miss them. As for the future? Watch this space …”