L&G Dynamic Bond manager resigns

22 April 2014 - Richard Hodges, manager of the L&G Dynamic Bond Trust, has today announced his resignation from the firm.

Commenting on the move, Chelsea's managing director, Darius McDermott, said: “Richard Hodges' resignation is a real blow to L&G. The fixed income team is well-resourced, but Richard was the stand-out manager.

“The fund has been one of our favourites in the Strategic Bond sector for a number of years and Richard's total return mentality was particularly attractive to bond investors who, in the current environment, are keen to preserve capital as interest rates rise. We've downgraded the fund to a hold with immediate effect.”