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Bond star Dickie Hodges' assistant quits L&G

Bond star Dickie Hodges' assistant quits L&G

An assistant working on the Dynamic Bond Trust is set to leave Legal & General after handing in his notice two weeks after lead manager Dickie Hodges quit.

Ben Bugg, who joined L&G as a graduate trainee in 2010, has been an assistant fund manager on High Alpha Fixed Income for two and half years according to his LinkedIn profile, which says he is being trained by Hodges on DBT.

Bugg will start as a sales associate on the Lloyds Rates team next week.

His exit is the latest in a raft of departures from the L&G fixed income team. Hodges (pictured) announced he was to leave L&G last month after seven years, although the firm suggested he will not officially depart until October. Michel Canoy, manager of the £1.3 billion Fixed Interest Trust left in January.

Senior fixed income manager Martin Reeves has taken over responsibility for DBT, while the three other funds managed by Hodges on an interim basis following Canoy's exit have gone to the UK institutional credit team run by Robert Barnard-Smith.

Over three years to the end of April, the Dynamic Bond Trust has returned 18.1%, placing it 35th out of 49 funds in the Citywire Sterling Bond sector. 

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Richard Hodges
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21/40 in Bonds - Global Flexible (Performance over 3 years) Average Total Return: 6.33%
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11/61 in Bonds - Global High Yield (Performance over 3 years) Average Total Return: 17.51%
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