Legal & General head of high alpha fixed income Richard Hodges is to leave the group in October.
Hodges (pictured) had been at the firm since 2007, having previously run fixed income portfolios at Gartmore. L&G's Martin Reeves will take over management of Hodges' £2bn Dynamic Bond trust. That fund, L&G's flagship fixed income portfolio, has returned 15.4% over the three years to 4 April, according to Morningstar, compared with an IMA £ Strategic Bond sector average return of 20.3%. Over five years the fund has returned 74.6% compared with a 75.6% sector average return. Last December Hodges also took over management of L&G's £1.3bn Fixed Interest trust, £385m Managed Monthly...
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