Fixed Income

BNY Mellon Investment Management has scrapped the initial charge on all investments for both lump sum and regular savings plans across its onshore fund range.

Canada's Bank of Montreal (BMO) has agreed a deal to buy F&C for £708m in cash.

PRICING

Mohammed El-Erian, chief executive of PIMCO and the man perceived by many as Bill Gross' heir apparent at the largest bond manager in the world, has resigned from his role.

Jupiter has reported net fund flows of £458m for Q4 2013, taking its total assets under management to over £30bn for the first time.

Investors ditched fixed income funds - corporate bond portfolios in particular - and opted for UK and European equities in November as the great rotation becomes more and more visible, according to the latest figures from the Investment Management Association...

M&G has appointed James Tomlins as co-manager of its £1.3bn High Yield Corporate Bond fund with immediate effect.

OUTLOOK

A year hyped as the start of a great rotation from bonds into equities actually saw more of a trickle out of fixed income, but it was not plain sailing for bond funds.

Sanlam Private Investments (SPI) is launching a global equity fund as well as a fund providing investors with an alternative to cash as it moves to broaden its range of retail mandates.