Swip names bond fund manager replacements

Swip has named Luke Hickmore and Neil Murray as the managers on four of its bond funds, following the defection of four of its fixed income team to Alliance Trust.

Effective immediately, Swip Sterling Credit Advantage fund manager Hickmore and corporate bond team member Murray will be the new managers on four of the group's retail funds.

Stuart Steven, who ran the Swip Absolute Return Bond, Corporate Bond Plus and European Corporate Bond funds and Swip Sterling Bond Plus manager Stuart McMaster have left the Swip to join the trust early next year.

They will be joined by the group's global head of fixed income Rod Davidson and head of bond products Gareth Quantrill.

Swip says Andrew November will continue to have overall responsibility for fixed income, while Graeme Caughey and Neil Murray will take responsibility for specific external institutional aggregate mandates.

Alliance Trust does not currently offer any bond vehicles in its unit trust and Oeic range.

"The combined skills and experience the team brings to our investment approach will greatly enhance the income earning potential of the Trust" Alliance Trust chief executive Katherine Garrett-Cox says.

"In a challenging external environment, the addition of fixed income expertise will inject greater balance to our overall portfolio and provide us with a wider scope to deliver superior returns to our shareholders."