OMGI's Johnson steps back from Corporate Bond fund in manager reshuffle

Will concentrate on building fixed income business

Old Mutual Global Investors' head of fixed income Christine Johnson is stepping back from her role as fund manager of the £482m Old Mutual Corporate Bond fund to focus on building the fixed income business.

As a result, Lloyd Harris, who has been co-manager on the fund since May this year, is taking over lead manager responsibilities from 1 December, with Johnson (pictured) in a deputy manager role. The group said the fund's investment process or objectives remain unchanged, but under Harris' management the fund's primary focus will be on stock picking and asset allocation, with a slightly reduced emphasis towards interest rate risk. Also, the fund's benchmark will be changed to the iBoxx GBP Non Gilts index, from the IA Sterling Corporate Bond sector. Old Mutual seeds new Oxley fund ...