Fixed income fund manager Dickie Hodges is to join Nomura Asset Management and will look to launch a new fund in the first quarter of next year.
Mr Hodges was head of high alpha fixed income at Legal and General (L&G). He joined the firm in 2007 and managed the £2bn Dynamic Bond trust. However, he quit the asset manager in April.
Ben Bugg, also formerly of L&G, will join Mr Hodges and the pair will run a fund similar to the Dynamic Bond trust. The new fund will be launched in the first quarter of next year.
Nomura AM runs about $40bn (£24.8bn) in assets from the London office.
The business does not have a large presence in the UK retail market, but it is a new area for the asset management and they are aiming to continue to expand their presence in the coming years.
The company currently runs two funds that are on offer for UK retail clients – a Japanese Equity fund and a US High Yield Bond fund.
From April 30 2007 to May 1 2014 the Dynamic Bond trust delivered 87.6 per cent compared to 39.6 per cent for the sector.
