Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

L&G manager exits following Global Macro fund closure

L&G manager exits following Global Macro fund closure

Legal and General's Ben Gill has left the firm as it moves to close the £222 million Global Macro Themes fund.

'Legal & General regularly reviews its fund proposition and can confirm that we are closing the Global Macro Themes fund,' a spokesperson for the firm said. 

'A submission to seek to wind up the Fund has been approved by the Financial Conduct Authority and all external investors have been written to outlining their options. This action only involves the Global Macro Themes Fund and does not affect any other fund run by Legal & General.'

Gill (pictured), who joined L&G in 2008, took on the fund in 2011 when it was still the Diversified Return Trust, after existing manager David North took sick leave

The fund changed its name and objective in the fourth quarter of 2011, moving from the IMA Absolute Return Sector to the IMA Specialist Sector. Over the three years to the end of January the Global Macro Themes fund posted a 15.4% loss, while the Alternative Ucits Global Macro Sector average was -3.7% over the same period.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: bonds with Ian Spreadbury

Brewin's Gutteridge: bonds with Ian Spreadbury

This week Brewin Dolphin's research head chats to Fidelity's Ian Spreadbury about the recent behaviour of interest rates and credit spreads.

Play Can tech advances explain the UK productivity puzzle?

Can tech advances explain the UK productivity puzzle?

Much of the productivity puzzle of the last eight years may be explained by a failure to capture new tech

Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Your Business: Cover Star Club

Small is beautiful: wealth firms still see value in less rich

Small is beautiful: wealth firms still see value in less rich

Latest statistics from findawealthmanager.com show that there are many firms who still service smaller clients.

Wealth Manager on Twitter