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Veteran emerging markets and Asia fund manager Matthew Vaight is parting company from M&G after 22 years.
A spokesperson for the Prudential (PRU) owned investment group said Vaigh was leaving to 'pursue interests outside of the asset management industry'.
Bourke had worked alongside Vaight in the M&G emerging markets team since 2015 and will retain the fund's investment philosophy and process. He has 18 years of investment experience, including 10 as an analyst and portfolio manager at Legg Mason and FPP Asset Management.
Vaight's £390 million M&G Asian fund will be handed to Alastair Bruce, supported by Alice de Charmoy.
Under Vaight, M&G’s emerging market equity business attracted £4 billion from investors over the past decade.
Vaight’s Asia fund has struggled over the past three years returning 22% to investors in a sector where the average fund achieved 34.3%.
The emerging markets fund has also not stodd out, returning 29.6% in the last three years just bellow the sector average of 31.6%.
Vaight last received a Citywire performance rating of A or above in 2014.
Chief investment officer for equities, multi-asset and retail fixed interest at M&G Graham Mason said: ‘Matthew spearheaded M&G’s distinctive approach to investing in emerging markets, noted for its strict valuation discipline and unique approach to portfolio construction.’