The M&G UK Income Distribution Fund, currently managed by Hughes, will be taken over by Stiasny on 1 April 2018. Veteran fund manager Hughes announced his departure earlier this month.
Meanwhile, Stiasny will join Sam Ford as co-deputy manager of the fund with immediate effect.
Stiasny will continue to manage the M&G Charifund, which he has run since November 2016, and will continue as deputy manager of the M&G Recovery Fund.
The firm also announced that Wolfgang Bauer is to be appointed manager of the M&G European Inflation Linked Corporate Bond Fund, replacing current manager Jim Leaviss, at the beginning of January next year.
Bauer will continue alongside Leaviss as co-manager of the M&G Absolute Return Bond Fund, and as deputy manager of the M&G Global Corporate Bond and M&G European Corporate Bond funds.
Graham Mason, chief investment officer for equities, multi-asset and retail fixed interest, said: “These appointments are testament to the internal talent we nurture and promote at M&G.
“Wolfgang and Michael have proven their capability to deliver excellent outcomes for customers and I have every confidence they have the expertise and experience to do a great job in their expanded roles.”
M&G said the investment strategies for both funds will remain the same.
