Friday, 06 December 2013 11:51
L&G IM's Hodges to take on three more fixed income funds
Legal & General Investment Management (LGIM) has announced that fund manager Richard Hodges will take on the management of three Legal & General fixed income funds.
He will replace Michel Canoy who will be leaving the company at the end of January 2014.
In addition to managing the Legal & General Dynamic Bond Trust, Richard Hodges will become lead manager on the following funds:
• Legal & General Fixed Interest Trust
• Legal & General Managed Monthly Income Trust
• Legal & General Sterling Income Fund
The funds' team-based investment processes, which benefit from the support of more than 70 fixed income professionals, will remain the same.
Roger Bartley, head of fixed income, Legal & General Investment Management, said: "The funds have delivered strong performance under Michel's management and I am confident that Richard and the team can build on this success in the future. We wish Michel all the best in his future career."
Mr Hodges said:
"I know these funds well and I look forward to managing them. Next year should be an interesting time for investment grade corporate bonds. Economic growth looks positive, so I expect the future path of US and UK interest rates to be a key driver of returns in 2014 and beyond.
"At the moment I have a strong conviction for assets with less interest rate sensitivity and am actively managing interest rate risk – a theme that is reflected across all our retail funds."
L&G Investment Management is a corporate member of the IFP.
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He will replace Michel Canoy who will be leaving the company at the end of January 2014.
In addition to managing the Legal & General Dynamic Bond Trust, Richard Hodges will become lead manager on the following funds:
• Legal & General Fixed Interest Trust
• Legal & General Managed Monthly Income Trust
• Legal & General Sterling Income Fund
The funds' team-based investment processes, which benefit from the support of more than 70 fixed income professionals, will remain the same.
Roger Bartley, head of fixed income, Legal & General Investment Management, said: "The funds have delivered strong performance under Michel's management and I am confident that Richard and the team can build on this success in the future. We wish Michel all the best in his future career."
Mr Hodges said:
"I know these funds well and I look forward to managing them. Next year should be an interesting time for investment grade corporate bonds. Economic growth looks positive, so I expect the future path of US and UK interest rates to be a key driver of returns in 2014 and beyond.
"At the moment I have a strong conviction for assets with less interest rate sensitivity and am actively managing interest rate risk – a theme that is reflected across all our retail funds."
L&G Investment Management is a corporate member of the IFP.
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