Scottish Widows Investment Partnership(SWIP), the asset management arm of Lloyds, is shutting down a string of its regional investment desks with the loss of half its 38-strong management team, according to reports.
The move comes as part of a major reorganisation of its £54bn equities business, with some strategies shifting from an active to a passive investment approach driven by quant models. The Times reports fund managers running "active" investment strategies in the UK, US and emerging markets are poised to be replaced by a single "global" team built around SWIP's quantitative equities team. SWIP said the move comes in response to an increasingly clear divide between equity investors seeking high-alpha solutions and those preferring a lower-risk strategy through a quantitative-based appro...
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