Juan Nevado, Portfolio Manager of the M&G (Lux) Dynamic Allocation Fund leaves the firm after 34 years

Juan, who co-manages the strategy with Craig Moran, will be replaced by Steven Andrew – a senior multi asset manager who has more than 20 years’ experience in the asset management industry.

Investor Relations Specialist

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M&G today announces changes to a manager of the €2.4 billion M&G (Lux) Dynamic Allocation Fund (“the Fund”), as Juan Nevado announces his intention to leave the firm after 34 years. Juan, who co-manages the strategy with Craig Moran, will be replaced by Steven Andrew – a senior multi asset manager who has more than 20 years’ experience in the asset management industry.

Steven, who has managed the €1.2 billion M&G (Lux) Income Allocation Fund since launch in 2013, will become co-manager of the strategy alongside Craig on 1 July. Steven and Craig, who have worked together since 2005, will continue to use the strong team-based and collaborative approach for investment decision-making under the leadership of CIO Fabiana Fedeli.

The Fund will continue to be managed under the same investment philosophy while exploring ways to include further sustainability considerations into the portfolio construction process, with the involvement of Maria Municchi who manages sustainability strategies within the team. This, along with the flexibility and dynamism of the fund, will play a key role in delivering returns over the long-term, within the parameters of the Fund’s existing investment objective and policy.

Juan Nevado joined M&G in 1988 as an equity strategist and, from 1999, managed internal capital within the Group before being appointed to manage the now M&G (Lux) Dynamic Allocation Fund in January 2011.


“Following its launch in the wake of the Global Financial Crisis, Juan and Craig have navigated this strategy through an unprecedented period in the financial markets, such as the monetary policy interventions during the European Sovereign Debt Crisis and, more recently, the effects of the global pandemic and rising inflation. We’d like to thank Juan for his commitment to delivering for our clients and wish him the very best for the future.

Our multi asset team has a unique investment philosophy and continues to evolve its approach to meet the changing requirements of our clients and customers. Our succession plan draws on the breadth and depth of internal talent in the team, providing clients with clarity, continuity and expertise – and ensuring a smooth transition in the Fund’s management.”

Fabiana Fedeli, Chief Investment Officer of Equities and Multi Asset, M&G



“It’s been an honour to spend over three decades of my career at M&G and to have had the opportunity to manage a flagship fund to the benefit of our clients. I leave in the knowledge that Craig, Steve and the talented team, will continue towards delivering the best possible returns under very different market conditions to those when I became manager just over a decade ago.”

Juan Nevado, outgoing co-manager of the Fund
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Juan Nevado, Portfolio Manager of the M&G (Lux) Dynamic Allocation Fund leaves the firm after 34 years