L&G may open up institutional trackers
Legal & General managing director of unit trusts Simon Ellis says the firm is considering making some of its institutional fixed-income tracker funds available to retail investors.
He says: “We already have a lot of index trackers on the pension side and we need to work out which ones are interesting to retail investors.
“We have institutional fixed income funds such as the £151m UK index-linked gilts fund and the £1.1bn all-stocks gilt fund. Are there opportunities in fixed income to make them available to retail investors? Yes, and we are considering that. There are very few of them in the UK.”
Access Wealth Management partner Jim Clancy says: “A lot of people will not bother going into active fund management when they can get the same returns from passive funds. L&G has realised that and I think a move to make more fixed-income tracker funds available to retail investors makes sense.”