M&G Investments is making management shifts within its multi-asset team, with fund manager Eric Lonergan set to leave the firm after 16 years.

The multi-asset manager began at the firm in June 2006, having previously worked as a managing director and head of economics and strategy for a decade at Cazenove.

Tony Finding will replace Lonergan as lead manager on the £770m M&G Episode Growth fund, with Craig Simpson retaining his role as co-manager on the fund.

Meanwhile, Simpson will become lead manager of the £830m M&G Managed Growth fund, taking over from Dave Fishwick, head of macro investing.

There will be no changes to the approach or objectives of either funds, M&G said.

Fishwick will remain lead manager of M&G's $4bn Episode macro strategy, which includes the $350m M&G (Lux) Episode Macro fund, though his portfolio management responsibilities on the fund will be shared between two newly appointed co-deputies, Stuart Canning and Gautam Samarth.

Canning, who is also co-manager of the M&G Episode Allocation fund, will begin a new role as head of research for the macro team.

All changes to the team will come into effect on 1 December.

Lonergan said in a statement on Linkedin that the opportunities in macro investing have "rarely been better" and it was "time for a change".

He continued: "As a portfolio manager, it is nice to end on a high note with the strong performance of the hedge fund and long-only strategies.

"This is testimony to great colleagues and teamwork. I will miss them. As for the future? Watch this space…"

Fishwick said: "Eric has been instrumental in developing and communicating our unique investment philosophy that has stood the test of time and successfully navigated ever more volatile markets. He leaves with our thanks and very best wishes for the future."

Fabiana Fedeli, CIO of equities, multi asset and sustainability, added: "These appointments are testament to the internal talent we have nurtured over the past two decades in the wider team, providing our clients with clarity and continuity.

"With the team's collaborative approach to implementing investment ideas, we are well placed to navigate our strategies through the challenges and opportunities of the current investment landscape."