Calich joined M&G in October from Invesco, where she was head of emerging markets debt and senior portfolio manager.
Matthew Russell will remain as deputy manager on the M&G fund, with Riddell continuing to work on the M&G International Sovereign Bond fund, the M&G Index-Linked Bond fund, the M&G Global Macro Bond fund and M&G Gilt and Fixed Interest Income fund.
‘The change of fund manager simply reflects our existing approach to allocating our talent to where it will be of most value,’ said Jim Leaviss, M&G’s head of retail fixed interest.
Calich added: ‘Emerging market bonds offer high income and a broadening set of investment opportunities and will remain an important part of investors’ fixed income portfolios in the years ahead.’
M&G Emerging Markets Bond has been a top-quartile performer over the past three years, returning 10.6% compared with a peer group average of 4%.