Fixed Income

RISK RATE RUSH

Scottish Widows Investment Partnership has hired BlackRock's Calum Smith to the newly-created role of head of global aggregate in its fixed income team.

Schroders is to launch a Global Macro Bond fund for Bob Jolly, a long/short fixed income vehicle targeting a yield of LIBOR plus 8%.

FIVE THINGS

The Financial Services Authority (FSA) has expressed concerns that an increase in advised sales of investment bonds by life insurance companies may be a sign of a commission grab ahead of the implementation of the Retail Distribution Review (RDR).

Scottish Widows will not facilitate adviser charging on its Retail Distribution Review (RDR)-compliant onshore investment bond because of the potential tax detriment.

TOP PERFORMERS

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Barclays has made its GlobalAccess multi-manager fund range available to advisers through two major platforms, and hopes to launch on the remaining large providers by the end of the year.

Scottish Widows Investment Partnership (SWIP) is set to continue its graduate programme but has halved the size of its intake.