View more on these topics

Legg Mason looks to the US for income

Legg Mason is adding to its retail range with a US equity income fund managed by New York-based ClearBridge Advisors.

The fund is set for launch in mid-October and will mirror the £2.5bn strategy offering already available to investors in the US.

ClearBridge Advisors is Legg Mason’s biggest US equity subsidiary, with £36bn of assets.

The fund will be managed by Hersh Cohen, Peter Vanderlee and Michael Clarfeld. The team will focus on high quality companies that pay an attractive dividend.

Legg Mason head of UK sales Adam Gent says: “UK investors have typically shied away from the US for income but US companies have never been in better health and are currently sitting on approximately £1.22trn of cash, much of which will be returned to shareholders as domestic demand for income continues to grow. Moreover, investing in US equity income provides a far more diverse income stream and less stock-specific risk than most UK equity income strategies.”

Whitechurch Securities managing director Gavin Haynes says: “Equity income will continue to be a core part of investors’ portfolios and it makes sense to diversify overseas into places like the US.”

Recommended

Trials on transition trail

Few issues can be more important to firms which have operated on a commission basis than how to effectively make the transition to fee-based advice in accordance with adviser-charging. Most firms which have made the change will suggest it is usually a three to five-year process and one that results in some mistakes being made […]

Amanda Clancy

If Life Cover for All partner Amanda Clancy had played her cards right, the specialist protection advice company could have had a very high profile frontman. A chance encounter while on holiday in Lake Como in Italy last September saw Clancy rub shoulders with one of the lake’s more famous residents, Hollywood actor George Clooney. […]

2

Openwork spends £15m on RDR preparations

Openwork chief executive Mary-Anne McIntyre has revealed the firm has spent £15m preparing for the retail distribution review but is still calling for a one-year delay to ensure as many advisers as possible remain in the industry. McIntyre, formerly chief operating officer at the network, was appointed chief executive in June, replacing Martin Davis who […]

Happy while you work

Well we’ve had scorching weather (yes even up here in Scotland!) and now the Euros 2016 are on – you can’t blame people for wishing life was just one big holiday.  With all these distractions it sometimes feels like work just gets in the way of having a good time! But sunny day skivers are […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment