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Cofunds adds L&G multi-manager funds to platform

Cofunds will be listing three Legal & General multi-manager funds on its platform this week, covering income, growth and balanced strategies.

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.”


Don’t price out the brokers

Last month, Money Marketing ran an open letter from seven of the biggest mortgage distributors, calling on brokers to understand and make allowances for the strain being placed on lenders by current market conditions.

Value remains within European equities

By Rob Burnett, Neptune European Opportunities Fund

In recent months, investors have become more pessimistic about both the European and the US economic outlook and yet stockmarkets have pushed on to new highs. Some would argue that this is a worrying divergence. We would take the opposite view. This appears to be classic bull market behaviour. A wall of worry has been rebuilt, and stockmarket resilience should be taken as a sign of strength. The market is discounting an improving economic outlook ahead, particularly in the south of Europe.


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