M&G

Each episode, we welcome a guest to the show to share their news story of the week.

And I'm delighted to welcome Kieran Mulligan, CIO of M&G Life to the show.

Welcome, Kieran.

Thank you, Charlotte.

Yes, no, it's a fair point.

If I take a step back, shall I just explain the book of assets that I'm responsible for? Because again, when we explain the book of assets that I run, you can see how different types of assets would be maybe applicable or eligible for those books.

You're right in terms of the insurance nature of the program, which is, you know, we're recently reopened to the bulk purchase annuity market in M&G.

And that means that we are now looking for certain assets that fit the Solvency II regimes, the matching adjustment regime.

Business owner Rob Applin in Tokyo.

Now, Randeep Samal is deputy fund manager at M&G Investments.

And Randeep, normally when a central bank raises rates, the value of the currency increases, too.

But that didn't happen today.

Mm.

So if you look at the Mansion House Accords, so Jeremy Hunt, when he was the chancellor, you know, signed an agreement with the Mansion House group, five of the biggest asset allocators in the UK, M&G, L&G, Aviva, they were then called Phoenix, now Standard Life, and Schroders.

They said that by 2030, 5% of their assets under management would be in the innovation economy.

Rachel Reeves then got the same group to increase that number from 5% to 10%, and a large number of other people signed the Mansion House Accords.

Hello and welcome to The Investor Way with myself, John McEwan, and my co-host, Sam Ball.

This week on The Investor Way, we have Gamma Communications, ABF, Computer Centre, M&G, Dunelm, and our US company of the week is Broadcom.

Sam, do you want to kick us off with Gamma Communications for the final time? Yes,

probably yes for the final time.

So it could well be up that again.

Yeah.

So should we move on to M&G then? How are

they doing? Yeah.

I mean, what's out there for, you know, parents and youngsters to sort of like, you know, have a look at and, you know, maybe learn a little bit more and sort of, you know, have a look a bit more and see what else is out there.

Yeah, I'd absolutely direct them to our website, mng.com. That's where there's lots of information that can help parents start the conversation and guide them.

And I think that'd be a great starting place to direct your listeners to.

Yeah, and absolutely.

And, you know, it's one of them.

But, no, it's an interesting conversation.

So I'll definitely sort of have a look at the website myself.

I'm always looking for new ideas and tips.

Jamie Hagan from Hellbent Express Trucking in South Dakota.

Randeep Somal is fund manager at M&G Investments and Brent Crude hitting $108 a barrel overnight before paring back slightly.

Where are we now, Randeep?

Hi, Luke.

The financial markets are pricing in a quarter percent rise, but probably not in September, maybe later on the year if inflation persists.

Randeep

Somal from M&G Investments.

Thank you.

You know, you started life, I think, at J.P. Morgan Casnoves on the sort of macro research size strategy.

Then you then went to, you know, I think you've described it as a proper investment manager, asset manager with M&G, and then Eisler.

who are more of a hedge fund multi-strat, and now you're at Calibrate running your macro strategy there.

What did you learn from each of those sort of quite different roles, and what have you sort of brought to your current role and process

And I learned from all of those.

So that was a great advantage of starting one's career, both in terms of economic experience, but also learning.

And then at M&G, you know, it's very, very different when you're talking to people running money than actually running money.

Yeah.

And me, Hartej Singh.

The CIO Chair's guest today is Andy Chawton, the chief investment officer of fixed income at M&G Investments.

Andy joined M&G in Q4 2024, having previously been at Schroders, where he served as head of fixed income and a member of Schroders Group Management Committee.

In this role, he was responsible for a fixed income division managing £135 billion with over 200 investment research risk and product professionals based in the US, UK, Europe, South America, Asia, and Australia.

With over 25 years experience, Andy has led the development of multiple innovative strategies and client solutions across many areas of fixed income, including sustainability, quantitative credit, semi-liquid credit, emerging market debt, tax aware, and opportunistic strategies into markets around the world, including the launch of active ETF strategies in the US.

You think it's a long time, but it actually comes around pretty damn quickly.

Yeah, definitely.

So, so when we go to today and, and your role as the CIO of fixed income at M&G, what, what does that practically look like on a day-to-day basis?