Legal & General Investment Management is looking at expanding its range of actively managed funds with the launch of strategic bond, high-alpha and hedge fund products.The news comes in the same week that L&G IM ditched its European equities team of four, headed by Alia Baig, and moved its underperforming 156m European fund to its passive management team while it seeks replacements. New global head of fixed income Roger Bartley, who started this week, is looking to develop the group’s fund range and is expected to push its actively managed products. Fixed-interest fund mana- ger Malcolm White says: “It is still at an early stage but I am looking at more strategic bond and high-alpha products and I am talking to Roger about it.” New product development director Simon Pistell says after the successful launch of its Japanese hedge fund, the group is looking at further launches although these are at an early development stage. Commenting on L&G IM dismantling its European equity desk, Hargreaves Lansdown senior analyst Meera Patel says: “For three years, L&G has been trying to make a go of this active fund so I admire them for making this change. Three years should be long enough to prove yourself.”
The Equity Release Advisory Service franchise is to be rebranded Equity Advice and is launching a training centre for brokers looking to enter the market. The “centre of excellence”, to open in September, aims to provide brokers with education on the market and allow them to sit an exam. The launch comes in the same […]
Schroders reported group profits before tax of 132.3m for the six months to June 30, up from 123.5m last time.Asset management profits before tax were down slightly to 96.8m compared to 99.8m last year although asset management revenue increased by 21 per cent to 377.3m. The company says the increase was driven by higher margins […]
Towry Law head of pensions Simon Farrant has joined Distribution Technology Limited as head of financial planning. Media commentator Farrant will work on the development of a range of retirement planning services for DTL’s clients.
I dislike the parasitic nature of the ambulance-chasers who purport to handle more effectively the complaints and claims of clients against financial organisations such as ours but I also respect their right to exist and operate in a free-market economy. What I do resent, however, is the appalling inefficiency of the ones I have so […]
After an “interesting” year, Peter Saacke separates the so-what stories (the Swiss franc, Grexit) from the ones with lasting impact on global equities.
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