fixed income

Schroders is to launch a Global Macro Bond fund for Bob Jolly, a long/short fixed income vehicle targeting a yield of LIBOR plus 8%.

Scottish Widows Investment Partnership has hired Alan Bridges as a replacement for Graeme Troy, to head up the UK rates team.

Legal & General Investments (LGI) is set to launch an index fund linked to the highest quality issues in the sterling corporate bond market at the end of the month.

Legg Mason's fixed income specialist subsidiary Western Asset Management has boosted its Asian fixed income team with four hires.

FIXED INCOME ALLOCATIONS

Andrew Wilmont, head of European high yield at AXA Investment Managers, has left the firm, handing his funds to James Gledhill.

China is poised to take further policy action, according to Chia-Liang Lian, manager of the $754m (£486m) Legg Mason Western Asset Asian Opportunities fund, who has ruled out a steep drop in growth rates.

Spain has sunk further into recession, after official data showed its stricken economy shrank by 0.4% in the second quarter of this year.

Sales of UK-listed funds have fallen to their lowest level this year, the Investment Management Association (IMA) has revealed.

BlackRock has launched the Luxembourg-domiciled BSF Global Absolute Return Bond fund for Ian Winship.