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L&G hires North replacement from AllianceBernstein

Legal & General Investment Management has hired Martin Reeves from AllianceBernstein to replace David North as manager of its £1.9bn high income fund.

North has been on extended sick leave since June.

Reeves,who was director of global fixed income credit research at AllianceBernstein, will join LGIM next month as head of high yield.

Former co-manager Ben Gill will continue to handle North’s responsibilities on the £503m diversified absolute return fund.


Fitch: Absolute return and flexible funds failed to perform in turmoil

Some European absolute return and multi-asset flexible funds failed their “clearest test since the Lehman fallout” during the recent market turmoil, according to Fitch Ratings. Research carried out by the agency’s fund and asset manager rating group shows European absolute return and flexible funds lost 2.5 per cent and 7.6 per cent respectively over the […]

Markets cautious ahead of Jackson Hole speech

Global markets wait to find out if the Federal Reserve will embark on further stimulus, while Naoto Kan resigns as prime minister of Japan. Markets Traders show caution as they await a speech by Ben Bernanke, the chairman of the Federal Reserve, from the Jackson Hole central bankers’ summit, according to the Financial Times. Standard […]


MM leader: FSA must act if Sipp charges are manipulated

With the regulator taking a close look at the capital adequacy levels of Sipp providers, you can understand the recent flurry of speculation regarding consolidation in the sector. The FSA is understood to be concerned about the financial position of a number of providers, adding to a list of previous worries. Earlier this year, the […]


Ageas Protect cuts losses as IFA market share grows

Ageas Protect has posted a pre-tax loss of £1.1m in the first half of 2011, compared to a £2m loss in the same period in 2010. Ageas UK’s results for H1, published today, show the group saw a £35.4m pre-tax profit overall, up from £8.4m in 2010. Ageas Protect, formerly Fortis Life, saw gross written […]

Time for a new approach to asset allocation

Trevor Greetham, RLAM’s head of multi asset, introduces the recentlylaunched RL GMAPs. Asset allocation has become an increasingly difficult challenge for investors and advisers in the years since the financial crisis. Sometimes violent price swings in stock and commodity markets coupled with the collapse in the rate of interest on bonds have made it harder […]


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