M&G Investments appointed Phil Cliff as the new manager of the £126.5m M&G European Select Fund from 1 July 2017. Sam Ford has also become the
fund’s deputy manager.
Cliff is expected to bring an investment approach to the M&G European Select Fund which emphasises the selection of companies with sustainable competitive advantages that have the opportunity to re-invest their capital at high rates of return.
This has the potential to generate rising free cash flow and in turn drive share price appreciation, the asset manager said.
There is no change to the objective or investment process of the fund, which is managed with a bottom-up approach investing at least 80% in European companies through a concentrated portfolio of between 25-35 stocks.
The fund’s objective remains to deliver capital growth over any period of 5-years or more.
Cliff joined M&G in January 2012 and has managed European equity funds for over a decade. He was appointed fund manager of the M&G Pan European Dividend Fund in April 2012 and of the M&G Dividend Fund in July 2013.