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L&G says bond fund manager Hodges to leave

Reuters - UK Focus

LONDON, April 22 (Reuters) - Legal & General Investment Management's (LGIM) senior bond fund manager Richard Hodges plans to leave the company in October after seven years, the company said on Tuesday.

Hodges has resigned in order to pursue other opportunities and will hand over management of the 2 billion pounds ($3.36 billion) Legal & General Dynamic Bond Trust to colleague Martin Reeves, a spokeswoman said.

In a statement LGIM, the fund management arm of life and pensions group Legal & General (LSE: LGEN.L - news) said other UK corporate bond funds managed by Hodges will transfer to the company's institutional credit team, headed by Robert Barnard-Smith. ($1 = 0.5944 British Pounds) (Reporting by Chris Vellacott. Editing by Steve Slater)