Managed funds

Government bonds are unlikely to deliver strong returns in a low interest rate environment going into next year, warns Jupiter CIO John Chatfeild-Roberts.

Richard Philbin, chief investment officer (CIO) of Axa Architas, is leaving the company at the end of the year to be replaced by deputy CIO Caspar Rock.

SECTOR ANALYSIS

ON ASSET ALLOCATION

Skandia Investment Group (SIG) has cut an £8m mandate run by Gartmore's Ben Wallace from its £62m UK Strategic Best Ideas fund, pointing to "disappointing" returns.

Cazenove's Diversity Income fund is set to launch on 15 December with a majority equity weighting, headlined by Neil Woodford's £7.9bn Invesco Perpetual Income fund.

ON ASSET ALLOCATION

Ignis has hired Michiel Timmerman from Aberdeen Asset Management to run its newly created £2.5bn multi-manager unit.

Schroders is planning to create a multi-manager product based on its popular Income Maximiser range, which would offer investors a 7% yield and monthly income distribution.

Alastair Mundy, manager of the Investec Cautious Managed fund, believes lowly valued blue-chip equities are possibly the best hedge against any future economic or market uncertainty.