M&G Recovery Fund
From Wikipedia, the free encyclopedia
M&G Recovery Fund is a British open-ended investment company launched on 23 May 1969 and, as of 31 May 2012, was the third-largest[1] open-ended fund in the UK (behind Neil Woodford's two equity income funds) with £7.4 billion of assets.[2]
| Company type | Private |
|---|---|
| Industry | Open-ended investment company |
| Founded | 23 May 1969 |
It was managed by Tom Dobell between 2000 and 2020, with deputies Michael Stiasny and David Williams since January 2011.[2][3] Michael Stiasny was appointed manager in 2021.[4] The fund makes a charge of 1.5% per annum.
Its investment focus is investing 'in a diversified range of securities issued by companies[5] which are out of favour, in difficulty or whose future prospects are not fully recognised by the market. The sole aim of the Fund is capital growth.'[6]