Economists had forecast a first estimate of 4 per cent would be trimmed to 3.9 per cent.
Gam Star MBS Total Return fund to be managed by Gary Singleterry and Tom Mansley.
Markets were lifted earlier by a surge in consumer confidence and healthy revisions to durable goods orders.
S&P 500 closes shy of 2,000 mark, Fast FT reports.
US bank agrees settlement with US authorities over allegations relating to mortgage backed securities and collateralised debt obligations.
The bank has agreed to offer $7bn in relief to consumers.
Analysis & Opinion
Group has unveiled a new US equity fund.
Lead manager Diane Sobin searches for high-income securities with long-term capital growth potential.
Co-manager Henry Sanders focusses high-dividend shares with a $1bn market cap.
North America is a dividend-paying juggernaut, accounting for 46% of total global dividends paid.
More on North American Investments
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Resignation follows 17-year career at City-based asset management firm.
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Over the last 10 years, there is no evidence to suggest that a US style of endowment management has proven any better than a more conventional UK...
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Tony DeSpirito joins from Pzena Investment Management to co-manage the BlackRock North American Trust