Legal & General Investment Managements Richard Hodges, manager of its £2bn Dynamic Bond Trust and head of high alpha fixed income, is to leave the firm in October.
Considered something of a pioneer in the strategic bond space in the UK retail market, he has been with L&G since 2007, having joined from Gartmore.
L&G confirmed that Martin Reeves is to become lead manager of Dynamic Bond Trust.
Hodges has also had his hands full since January looking after Fixed Interest Trust, Managed Monthly Income and Sterling Income Fund, which he took on after the departure of colleague Michel Canoy last year.
These funds will move under the stewardship of the UK institutional credit team, headed by Robert Barnard-Smith.
L&G said it is looking to recruit new fund managers for the fixed income team. It is understood that it was Hodges own decision to leave, though he does not have another job to go to with a rival asset manager.