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Cofunds operations director exits

Exit-Man-Door-Depart-Leave-700.jpgCofunds operations director Graham Jackson has left the platform after a year-and-a-half in the role.

Appointed in January 2014, Jackson was responsible for service delivery to all of the platform’s retail and institutional clients.

He replaced David Hobbs, who was made Cofunds chief executive in a reshuffle.

Jackson will return to Cofunds’ parent company Legal & General, where he has held a number of roles over 25 years, before leaving the group entirely before the end of the year.

He will be replaced by current risk and compliance director Paul Miller, who becomes interim head of operations, and change director Hugh May, who will be responsible for client asset rules.

A Cofunds spokesman says: “Graham has been spearheading our response to the review of the client assets regime, which is coming to an end for us.

“He felt that now the project has ended it is time to do something else after 25 years with L&G.”

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Strong dollar can be a powerful driver of UK dividend growth in 2015

By Robin Geffen, fund manager and CEO 

This year threatens to be a challenging one for UK dividend hunters. Last year saw an all-time record amount paid out in UK dividends — some £97.4bn, according to research from Capita Dividend Monitor. Yet as Capita also pointed out, out the biggest single factor driving the growth in the fourth quarter of last year was easy to identify: the rising US dollar. 

In our view, this trend is much more than simply a one-quarter phenomenon. It is actually the most profound issue to get right as a UK equity income investor in 2015. We believe that the US dollar will continue to strengthen significantly from its current level. This is due more to the US economy’s demonstrable de-coupling from the rest of the world than to a view on the UK. The US has a strong chance of tightening monetary conditions this year without jeopardising growth or de-stabilising its housing market. The same can unfortunately not be said about the UK.

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