UK-based M&G Investments has appointed Daniel White as the manager of its £120 million (around $187 million) M&G North American Value Fund, based in London.

White will be supported by deputy manager Richard Halle, who currently manages the £515 million M&G European Strategic Value Fund. White has worked closely with Halle on the M&G European Strategic Value Fund since its launch in 2008.

White is taking over the management of the M&G North American Value Fund from Richard Brody, who will concentrate on his wider responsibility and other portfolios at PPM America, the firm said.

In addition, White will also take on the responsibility of becoming deputy fund manager on the M&G European Strategic Value Fund.

Headquartered in London, M&G employs some 1,500 people globally and operates out of offices across Europe and Asia.