Jim Cielinski, global head of fixed income at Columbia Threadneedle, has said both equities and bonds will struggle to generate significant returns now interest rates have run out of room to fall after bottoming out globally.

Will review underweight UK position accordingly

For manager Holger Mertens

Rules out extending remuneration rules across industry

Increases ETF purchase programme

Pair also on board of several other trusts

Decision due by the end of the year

Brings in line with absolute return range

Also founder of Ascentric

Impacted by costs of Vision acquisition