Rayner to manage RLAM vehicles as Peirce emigrates

Royal London's Stephen Peirce is leaving the group at the end of the week to emigrate to South Afric...

Royal London's Stephen Peirce is leaving the group at the end of the week to emigrate to South Africa. Peirce co-manages the £180m Index Linked Trust and is responsible for index-linked holdings on other fixed income mandates. Paul Rayner, co-head of the index-linked fund, will work as sole lead manager as an interim measure until a suitable replacement is found. Fund performance looks less than stellar - it ranks ninth out of 13 peers for one-year performance to end August with 14%, and third quartile for three-year results with 21.8% according to Morningstar. Peirce is also named ...