LGIM says the team-based investment processes of these funds will remain unchanged.
LGIM head of fixed income Roger Bartley says: “The funds have delivered strong performance under Michel’s management and I am confident Richard and the team can build on this success in the future. We wish Michel all the best in his future career.”
Hodges says: “I know these funds well and I look forward to managing them. Next year should be an interesting time for investment grade corporate bonds.”
The JHC Partnership director Keith Iles says: “This is certainly a bigger mandate for Hodges, even running three funds was a big mandate for Canoy. It seems like too big a remit for one man.”