F&C Asset Management : Macro Global Bond Fund announces new fund managers

The F&C Macro Global Bond Fund Board has today announced the appointment of Steven Bell and Michiel de Bruin of F&C Investments to manage the fund, effective from 1 July 2014 subject to regulatory approval.
Steven and Michiel will have access to the wider, extensive fixed income, currency and macro resource within F&C Investments in this role. They will be supported by a 14-strong team covering global rates, currency, macro and money markets and bond and FX dealing.
Steven Bell, Director, Global Macro at F&C Investments, is responsible for managing Global Macro portfolios and providing macro strategy input to a broader range of multi asset investment portfolios. He has 37 years' investment experience. Michiel de Bruin is Head of Global Rates at F&C Investments and has 28 years of fixed income investment experience.
The fund will continue to offer a simple, transparent and liquid investment strategy, providing an alternative to traditional bond funds. The objectives of the Dublin-based UCITS fund will remain the same. The fund has an absolute return focus and aims to achieve a total return primarily through investment in debt securities and instruments which may be either fixed, floating rate or index / inflation linked, issued or guaranteed by EU/OECD issuers.

"This is a pivotal time for fixed income markets. The unwinding of central bank measures, including quantitative easing and record low interest rates, will provide exciting opportunities for active management within the asset class.
"Steven and Michiel are highly experienced in global macro rates and currency markets, including absolute return risk-focused strategies. Liquid absolute return strategies are a core competence within our 45-strong fixed income team at F&C. I am confident that the pair are well placed to maximise the opportunity for the fund's investors going forward."
The appointment of Steven and Michiel as the new fund managers follows the resignation of Paul Thursby and Peter Geike-Cobb, who have managed the fund since 2003. Paul and Peter will work with Steven and Michiel in the short term to ensure an orderly transition of responsibilities.

fandc.sc@fticonsulting.com

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F&C's fixed income team consists of 45 investment professionals, managing £46.8bn of assets (as at
31/03/2014).

Steven Bell - Director, Global Macro, F&C Investments

Steven Bell is a Director, responsible for managing Global Macro portfolios and providing macro strategy input to a broader range of multi asset investment portfolios. He joined F&C in July 2013 having run the GLC's Global Macro programme for the previous seven years. Before that he was Global Chief Economist and Investment Head of the UK multi asset business at Deutsche Asset Management during his tenure 1984
- 2005. Steven began his career as an Economic Adviser at the UK Treasury and has degrees in economics from the London School of Economics and Stanford University, California.

Michiel de Bruin - Head of Global Rates, F&C Investments

Michiel de Bruin is a Director and Head of Global Rates. Michiel joined the Group in 2003. Prior to joining F&C Michiel worked for more than 15 years in various senior fixed income trading and sales positions, including Head of Trading at Deutsche Bank de Bary in Amsterdam and co-head of Fixed Income at NIB Capital in Amsterdam. He has a degree from the HTS Amsterdam and the Free University Amsterdam where he obtained a postgraduate of Financial Analyses diploma. Michiel is registered at the Dutch Securities Institute (DSI) as both a Senior Investment Manager and a Senior Securities Trader.

F&C is focused exclusively on managing money for its clients. It manages assets for a combination of insurance clients, institutional investors, intermediaries and private individuals which collectively represent in excess of three million underlying savers. F&C invests across all major asset classes - equities, fixed income and property - and has specialist expertise in asset allocation, alternative investments, liability driven investments, multi-manager, private equity funds and ESG Investing. The F&C Group includes F&C REIT, a global real estate asset manager.
F&C has a strong footprint in the U.K. and the rest of Europe with assets under management of approximately £83 billion as at 31 March 2014. F&C has a rich heritage that dates back almost 150 years and can be traced back to the founding in 1868 of the Foreign & Colonial Investment Trust.
F&C is part of Bank of Montreal (BMO) Global Asset Management, a global investment manager with more than US$131 billion in assets under management. BMO Global Asset Management is a wholly owned subsidiary of BMO Financial Group (NYSE: BMO), a fully diversified financial services organisation with more than US$532 billion in assets and more than 45,000 employees as of 31 January 2014.
Past performance should not be seen as an indication of future performance. The value of investments and income derived from them can go down as well as up as a result of market or currency movements and investors may not get back the original amount invested. The information, opinions estimates or forecasts contained in this document were obtained from sources reasonably believed to be reliable and are subject to change at any time. F&C Group Companies may from time to time deal in investments mentioned herein on behalf of their clients. The source of information in all graphs is F&C unless otherwise stated. F&C Management Limited is authorised and regulated by the Financial Conduct Authority FRN: 119230 F&C Management Limited is a member of the F&C Group. The F&C Group is wholly owned by BMO Global
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