LGIM

Legal & General Investment Management's Simon Ellis has warned the low-cost active funds entering the market are not viable options for investors because of their low return targets.

Legal & General Investment Management has hired Martin Reeves from AllianceBernstein to replace David North as manager of its £1.9bn High Income trust.

Old Mutual's Stewart Cowley and LGIM's Richard Hodges have reversed their short duration stances and removed their treasury short positions as the flight to safety pushes yields to record lows.

ON BONDS

Life insurer Legal & General (L&G) posted better-than-expected first-half results on Wednesday, helped by strong performance from LGIM and its international divisions.

Legal & General IM is to reposition its £529m Diversified Absolute Return Trust in a move which may see it change the fund's name as well as its investment objective, Investment Week understands.

Legal & General Investments is launching a passive fund investing in global equities focused on providing solutions to energy, resources and environmental issues.

THREE OPTIONS FOR THE GREEKS

Legal & General Investment Management (LGIM) has grown its assets 8% in the first quarter after achieving gross new business of £11bn.

Legal & General Investment Management (LGIM) is mulling the launch of a balanced managed fund later this year to fill a gap in its product range.