The new funds will offer a new charging structure of a 1 per cent annual management charge plus a performance fee.
Cofunds fund manager relations director Russell Lancaster says: “Legal & General is building its reputation for active investment management to complement its traditional strength in passive funds. Cofunds is seeing strong demand for multi manager products at present. Therefore we believe we will see strong demand from the adviser market for these new funds.”
L&G director, individual wealth product Andy McKinnon says: “Our multi-manager investment process aims to identify managers and funds that have a superior chance of producing out performance and then to back them with conviction. Together with an active asset allocation approach we believe we can deliver results closely aligned to the needs of investors and produce returns better than our peers over the long term.”