| M&G’s Graham French has been selling down his exposure to commodities after falling prices and a ‘poorly managed’ sector hit the performance of his Global Basics fund last year. French, who has run the £5.2bn fund since 2000, apologised to investors for his performance last year after lagging the sector substantially.
Global Basics has returned just over 1% over the past 12 months, leaving it bottom quartile of the IMA Global sector over that timeframe, as the majority of funds posted more significant gains. ..............................................Full Article: Source
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