M&G fund manager Daniel White has been appointed manager of the £120m M&G North American Value fund.
White is taking over from Richard Brody who will instead focus on portfolios at M&G’s affiliated investment advisers in the US PPM America.
With White taking up the role from 1 September, he will become deputy fund manager of the £515m M&G European Strategic Value fund – having previously been co-manager since 2011.
Richard Halle, who manages the M&G European Strategic Value fund, will support White on the M&G North American Value fund as deputy manager.
Following this manager transition, the M&G North American Value fund’s philosophy or investment objective will not be changed.
M&G Investments chief executive officer of equities Gary Cotton says: “Daniel’s promotion is in keeping with M&G’s commitment to nurture talent.
“He is ideally placed to take over the management of the M&G North American Value fund and apply the team’s proven value strategy to the North American market, leveraging M&G’s wider expertise in global equities.”