Hodges has resigned in order to pursue other opportunities and will hand over management of the 2 billion pounds Legal & General Dynamic Bond Trust to colleague Martin Reeves, a spokeswoman said.

In a statement LGIM, the fund management arm of life and pensions group Legal & General said other UK corporate bond funds managed by Hodges will transfer to the company's institutional credit team, headed by Robert Barnard-Smith.

(Reporting by Chris Vellacott. Editing by Steve Slater)