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Investec recruits M&G chief to head bond funds

Former senior M&G fund manager Anna Lees-Jones is to head Investec Asset Management&#39s flagship sterling bond fund and its offshore equivalent from this week.

Lees-Jones, who ran M&G&#39s £1.3bn corporate bond fund until earlier this year, takes over from Mich-ael Markham, who becomes the alternative manager on both the £140m sterling bond fund and the £100m offshore GSF fund. He will concentrate on running the group&#39s monthly high-inc-ome fund and institutional mandates.

Investec, which has rec-ruited three new members to its bond team in the past six months, says the move will not lead to any process changes to the funds, the onshore version of which is ranked 22nd out of 80 in its sector over one year.

Lees-Jones, who joined Investec last month, says the portfolios offer her a chance to run funds which are nimble enough to manoeuvre, which was believed to be a problem with her fund at M&G. That portfolio is now managed by former Old Mutual star Richard Woolnough, who effectively replaced Lees-Jones when he joined M&G earlier this year.

Lees-Jones says: “I bel-ieve that, led by John Stopford, the fixed-income team is about to enjoy a very exciting growth phase.”


United bid to create a citizen&#39s pension

A working group of pension bodies is meeting to create a UK citizen&#39s pension which would remove the need for means-testing. The high-level working group, chaired by former National Association of Pen-sion Funds chairman Tom Ross, will work on practical solutions to implement a citizen&#39s test based on a simple residency test. The new pension […]

Network healthcheck guide for ARs from PMN

The Professional Mortgage Network is urging mortgage advisers thinking of becoming ARs to thoroughly check out the credentials of a network prior to becoming a member. To this end it has launched a network healthcheck guide, which lists thirty questions it thinks an AR should ask a network before signing up to its proposition. Managing […]

GE LIfe – Phased Drawdown Plan

Type:Income drawdown plan Minimum investment: Lump sum £150,000 Investment choice: Choice of 41 unit-linked funds from GE Life and external managers, discretionary pension portfolio via Cazenove, Morgan Stanley Quilter, Rathbones and Tilney, simplified Sipp and Sipp options Allocation rate: 100% Charges: Unit linked funds &#45annual 0.36%-1.65% depending on fund, discretionary pension portfolio &#45 unit-linked charges […]


Manor Park – Guaranteed UK Selected Growth September 2004

Type:Guaranteed growth bond Aim:Growth linked to the performance of the FTSE 100 index Minimum investment:Lump sum £5,000 Investment split:100% linked to the FTSE 100 index Place of registration:Guernsey Term:Three years Return:Choice of 210%, 160%, 110% or 60% growth in index at end of term Guarantee:Choice of 85%, 90%, 95% or 100% of original capital returned […]

State of the markets: global growth

In conversation with journalist Alexis Xydias, Artemis Global Growth Fund manager Peter Saacke discusses the state of global markets and how he is positioning his fund. Peter gives his views on the growth potential of US, Europe and emerging markets, each of which is on a different stage of the road to recovery. And with a […]


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