Equity IncomeAug 8 2017

Ex-OMGI manager Message joins LGIM

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Ex-OMGI manager Message joins LGIM

Stephen Message, former manager of Old Mutual Global Investors' £168m UK Equity Income fund, has joined Legal and General Investment Management (LGIM).

Mr Message joins the asset manager's income team eight months after he left OMGI following a review of the fund on which he worked.

He had run the portfolio for seven years, having assumed management in December 2009. In the five years to the announcement of his departure, Old Mutual UK Equity Income returned 87.1 per cent, compared with a 69.7 per cent average from its IA UK Equity Income peer group, according to FE Analytics.

Ed Meier took over the fund following Mr Message's departure.

An LGIM spokesman said: "Stephen joined the Global Income team as of yesterday as a fund manager with a focus on UK income strategies."