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Fidelity hires Schroders bond manager

Fidelity Investments – the US-based asset managert – has announced it has hired former Schroders bond fund manager Michael Foggin for its London-based fixed income division.

Foggin joins as portfolio manager for international and global bond strategies and will report to Fidelity’s UK fixed income chief investment officer, Mark Flaherty.

Foggin will manage money for institutional clients and US mutual fund investors.

Flaherty says: “As global bond markets continue to evolve and become more complex, Fidelity remains committed to investing in its investment management capabilities.

“With these appointments, and those in 2011, we have almost tripled the size of our London-based fixed income team over the past 18 months, adding to the depth and capabilities of our talented investment team.”

At Schroders, Foggin was responsible for the management of credit long/short and credit total return strategies.


Vanguard looks to add cash and property index funds

Vanguard is looking at launching a cash tracker fund and a property tracker fund as the firm looks to fill gaps in its 21-strong tracker range. Head of retail and European product development Nick Blake says while both funds would be difficult to launch successfully, there is demand in the market. He says: “We are […]


Bowles: Break up banks that manipulate rates

Senior MEP Sharon Bowles has called for banks that attempt to manipulate interest rates to be broken up rather than fined. Last month, Barclays was fined £290m after it admitted its traders had attempted to manipulate both the Libor and Euribor rates. A number of other banks are being investigated by UK, US and European […]

Kay review calls for overhaul of fund manager pay

A Government-commissioned report has called for an overhaul of fund manager pay as part of a package of reforms aimed at better aligning the interests of asset managers and investors. The John Kay review of equity markets, published this week, calls for regulatory authorities to ensure fiduciary standards apply to all relationships in the investment […]


Timetable for Wheatley’s Libor review ‘challenging’

The Treasury has admitted that the timescale it has set for FCA chief executive designate Martin Wheatley to conduct his review of how the Libor rate is set and governed will be “challenging”. Announced by chancellor George Osborne earlier this month, the review will look at how the rate-setting process could be improved, whether submitting […]


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