Vaight who was previously co-manager with Godfrey, will be supported in running the fund by Colm D’Olier who was appointed as deputy manager of the two funds back in January.
M&G said there would be no change to the investment approach, process or strategy on either fund.
Vaight and Godfrey have managed the £681m GEM fund and the£467m Asian Fund since their launches in 2009 and 2008 respectively.
A spokesperson at M&G said Godfrey had built up the funds and their strategy together with Vaight, but now felt it “appropriate” for the funds to be run by a single manager.
