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Vanguard’s French relinquishes portfolio management responsibilities

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Graham E French, portfolio manager of the USD2.4bn Vanguard Precious Metals and Mining Fund, has stepped down from day-to-day fund management responsibilities at M&G Investment Management.

"On behalf of Vanguard, I'd like to thank Graham for nearly 25 years of dedication to our clients,” says Vanguard chief executive Bill McNabb. “In addition to serving as a portfolio manager, Graham was instrumental in building the M&G investment team, and we believe that the fund will continue to benefit from the firm’s long-term approach and deep expertise in the precious metals and mining industries.”
 
French has managed the Precious Metals and Mining Fund since 1996; before that he had spent five years as assistant manager. French, who joined M&G in 1989, will remain in a consultative role with the fund for the next six months.
 
Co-manager Randeep Somel will assume sole portfolio management responsibilities. Somel joined M&G in 2005, and has worked side-by-side with French for the past five years.
 
M&G expects to name a co-manager in the near future.

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