View more on these topics

LGIM replace Hodges on Dynamic Bond Trust

Legal-and-General-LG-700.png

Legal & General Investment Management has hired a lead manager on its L&G Dynamic Bond Trust to replace Richard ‘Dickie’ Hodges.

The asset manager has chosen Omar Saeed to run the trust, which has been run by senior fixed income fund manager Martin Reeves since Hodges left last year. The fund had £1.6bn of assets at the end of April.

It is the first lead fund manager role for Saeed at LGIM, who joined L&G in February from Swisscanto Asset Management, where he ran $1.5bn in high yield funds and was involved in running a $2.5bn absolute return portfolio.

The fund has unperformed the benchmark over three months, one year and five years, but has outperformed at three years, returning 22.21 per cent compared to 21.18 per cent.

LGIM co-head of global fixed income Anton Eser says: “[The fund’s] strategy is ideally suited to the uncertain market environment that lies ahead, where there is a high probability of rising bond yields and volatile credit markets.

“We continue to see a great interest and appetite in the strategy from retail and, increasingly, institutional investors.”

Hodges quit LGIM last April after seven years with the firm, and joined Nomura Asset Management later in 2014.

Recommended

HSBC-700x450.jpg
2

HSBC pays £28m to settle Swiss money laundering probe

HSBC has reached a deal to pay £28m (40m CHF) to close an investigation into alleged tax evasion and money laundering at the bank. The deal closes a probe launched by Geneva authorities with a raid on the firm’s Swiss private bank headquarters. The Swiss investigation began after reports revealed claims of HSBC-aided tax evasion […]

Chris-Gilchrist-MM-Peach-700.jpg

Chris Gilchrist: A contrarian take on asset allocation

In 2007/08, having a portfolio diversified across a dozen different asset classes did nothing to help. Everything tanked apart from developed nation government bonds. If you look at any set of correlation matrices over time, the trend is obvious: the correlation of almost all asset classes has steadily increased over the past three decades. Back […]

Motivation

Solving the UK productivity puzzle

Last week the Office for National Statistics (ONS) produced its latest estimates of UK productivity. These statistics – the first estimates for the 2014 year – should be a wake-up call for business leaders and politicians alike. 

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment