View more on these topics

Legal & General bond fund takes Ucits III ‘to the limit’

Legal & General is offering a bond fund that will have the ability to invest across different countries, asset types and credit ratings.

The dynamic bond trust will be managed by Richard Hodges, David North and Julian Garran and will use derivatives under Ucits III.

Hodges will be lead manager and will pick out the best ideas for the portfolio with assistance from North, who is head of high yield. Group head of asset allocation, Garran will make top-down calls for the portfolio.

The fund will launch on April 30 and L&G will exclusively offer the product to discretionary wealth managers and institutional clients.

This distribution could be widened according to demand but the firm says there are no imminent plans.

Sales director Ben Waterhouse says L&G is adding the fund to meet investor demand for competitive returns throughout the credit cycle.

BestInvest head of communications Justin Modray says: “This is an interesting launch as it looks as though the fund manager intends on taking the Ucits III powers to the limit. Hodges joined from Gartmore, so is no stranger to using Ucits III, but it may mean that advisers are initially cautious.”

Recommended

On the line

As with investment themes, there are long-term movements in recruitment requirements, within which there are ripples and eddies that are more localised in time and/or geographic location. Knowing where the recruitment market is at any one point in time is useful from both the employees’ or employers’ standpoint, in that it has an impact on […]

Tories pile pension pressure on Brown

The Conservatives this week tabled an unprecedented motion of no confidence in Gordon Brown over his handling of occupational pensions.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment