L&G

LGIM's HODGES

Richard Black is avoiding ‘usual suspect' stocks Aviva and Tesco in his L&G UK Equity Income fund over fears their strategies are wrong in the current environment.

ON EUROPE

A variety of asset classes and investment strategies feature in the list of funds with the largest outflows in the first half of the year.

THE BIG QUESTION

Legal & General (L&G) has named group chief financial officer Nigel Wilson as its new chief executive, replacing the outgoing Tim Breedon, who departs from the role next month.

LGIM's European fund manager Gavin Launder has been promoted to head of European equities at the group.

Legal & General (L&G) is anticipating a drop-off in sales through financial advisers over the coming months and into early 2013 as firms concentrate on developing their business models for retail distribution review (RDR) implementation.

THE BIG QUESTION

Poor results from companies such as Unilever, AstraZeneca and Shell last week showed the valuation gap between defensives and cyclicals is closing in a "vicious" fashion, according to JO Hambro Capital Management's James Lowen.