LGIM's Richard Hodges to run three additional corporate bond funds.
06 December 2013
Legal & General Investment Management (LGIM) today announced that Richard Hodges will take on the management of three Legal & General fixed income funds, replacing 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 not be changed.
Roger Bartley, Head of Fixed Income, Legal & General Investment Management commented:
“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.”
Richard Hodges, Fund Manager, Legal & General Investment Management 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.”
Notes to editors
LEGAL & GENERAL INVESTMENT MANAGEMENT:
Legal & General Investment Management (LGIM) is one of Europe’s largest institutional asset managers and a major global investor. LGIM manages £443 billion in assets for more than 3,000 clients*. Throughout the past 40 years we have built our business through understanding what matters most to our clients and transforming this insight into valuable, accessible investment products and solutions. We provide investment expertise across a full spectrum of asset classes including equities, fixed income, commercial property and cash. Our capabilities range from index-tracking and active strategies to liquidity management and liability- based risk management solutions.
*As at 30 Sept 2013
For more information please contact:
PR Manager Legal & General Group
t: +44 (0) 203 124 2092