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Change of name for Johnson Fry as it looks to boost retail funds

Moneyextra has set up moneyextra insurance, a new fully online virtual

marketplace for personal lines of insurance.

The service offers product providers real-time feedback on the profiles of

prospects and customers.

It allows insurers to monitor their competitiveness and manage their

market position by amending products and rates online, creating a virtual

marketplace where products and rates are matched to consumer demand.

Intermediaries will have access to the scheme via exchange insurance, a

similar operation which will be set up in the near future.

UK asset management firm Johnson Fry has renamed itself Legg Mason

Investors following its acquisition by US fund manager Legg Mason last

December.

Johnson Fry&#39s rebranding comes after two years of internal and external

research into perceptions of the company and its identity.

The company, founded more than 30 years ago, has £1.4bn funds under

man-agement. It runs eight unit trusts and three investment trusts.

Johnson Fry says it is also looking to broaden its range of products with

the possible launch of a US or emerging markets fund.

Legg Mason, which acquired Johnson Fry for $70m, has about $125bn of

assets under management.

The US company also completed the acquisition of Canadian pension giant

Perigee last week.

Johnson Fry chief executive Rebecca Thomas says: “Our rebranding as Legg

Mason Investors signifies the beginning of a new phase in the company&#39s

development.

“The backing of Legg Mason allows us to continue to improve our client

servic-ing and administration and ensure we continue to provide the highest

quality in terms of investment performance.

“In the longer term, we will also broaden our range of products with the

addition perhaps of a US or emerging markets fund.

“We are ready to be recognised as one of the leading retail fund managers.”

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