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Advisers: L&G Multi-Index funds could be one-stop-shop for smaller clients

Advisers welcome the launch of the Legal & General Multi-Index range, which invests in the firm’s own trackers, as a “one stop shop” for cost focused clients with smaller portfolios.

Last week L&G unveiled five new risk-targeted, multi-asset funds as part of its new Multi-Index range.

Each of the L&G 3,4,5,6 and 7 funds invest in the firm’s index tracker portfolios and also includes direct exposure to property through the £833m L&G UK Property Trust.

The use of in-house funds gives the range a low annual management charge of 0.25 per cent.

Values to Vision Financial Planning director Nick Lincoln says the launch is “good news” for certain clients and competition within the passive space.

He adds: “The more competition the better. The L&G range also includes physical property, which Vanguard doesn’t offer.

“These already made up asset-allocated funds also seem like a good one stop shop for clients who are looking to pay smaller fees or have smaller portfolios.”

Addidi Wealth director Anna Sofat says: “It is interesting to see more passive funds looking at a mix of risk profiles.

“From a consumer perspective, they can easily see which risk-profile and product meets their needs.”

Legal & General Investments managing director Simon Pistell says: “Many UK advisers are looking for low-cost investment solutions that are easy to match to their clients’ risk profile. They want to reduce their focus on monitoring the fund universe and rebalancing portfolios and add value to other parts of the advice and investment process instead.

“Risk-targeted multi-asset funds are ideal for this environment. We’ve designed our range to be easy to monitor, low in cost and to fit the way advisers are working with their clients today.”


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