M&G Funds recognised at 2024 industry awards

Yusuf Mowlana

The M&G Property Fund won this year’s Raging Bull Award for ‘Best SA Real Estate General Fund’, recognising its straight performance over the three-year period to 31 December 2023.

The M&G Property Fund was only launched in July 2020, but has already built up an excellent track record over this period under the management of Yusuf Mowlana and Rahgib Davids. Among its ASISA peers, the fund is currently ranked #1 or #2 in its category over the one-, two- and three-year periods (according to Morningstar data to 29 February 2024).

“Using a valuation-based approach, we consider not only individual stock valuations, but also property sector fundamentals, diversification and valuation support from the risk-free rates when building the fund,” says Mowlana. “Stocks must be of high quality, with attractive risk-adjusted total return prospects that are underpinned by healthy free cashflow generation.”

Currently, Mowlana is cautiously optimistic about the SA listed property sector going forward, having seen some signs of stabilisation in fundamentals in the most recent reporting period. “The sector should be aided by the strong prospects for global and local interest rates to decline from mid-2024, which could create an environment conducive for the sector to re-rate. However, this will depend on the pace of interest rate cuts and economic growth – given that it takes time for lower interest rates to make an impact on the economy, earnings growth is likely to be muted over the short to medium term,” he concludes.

Raging Bull award joins several M&G fund nominations

For the 2024 Raging Bull Awards, the M&G Bond Fund was nominated in the category for ‘Best SA Interest-bearing Variable-term Fund’ for its straight performance over the three-year period to 31 December 2023. The fund is managed by Roshen Harry and René Prinsloo. The fund was also nominated at the Morningstar Awards in the category of Best Bond Fund.

The M&G Dividend Maximiser Fund was nominated at the Morningstar Awards for ‘SA’s Best Equity Fund’. The Fund is managed by Ross Biggs and Kaitlin Byrne.

The M&G Global Balanced Feeder Fund was also nominated for a Raging Bull Award for its risk-adjusted performance as the ‘Best (SA-domiciled) Global Multi-asset High Equity Fund’ over five years to 31 December 2023 – managed by Craig Simpson, Aaron Powell and the M&G Investments (UK) team.

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