Legal & General Investment Management's Richard Hodges will take on the management of three additional fixed income funds totalling £2bn in assets, after existing manager Michel Canoy opted to exit the business.
Hodges (pictured) will become lead manager on the £1.3bn Legal & General Fixed Interest Trust, the £391m Legal & General Managed Monthly Income Trust and the £661m Legal & General Sterling Income fund. The handover will take place in January when Canoy - who has delivered stellar performance for investors in the flagship L&G Fixed Interest Trust - exits the group. 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 a...
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