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Legg Mason makes £7.7bn global fixed income fund available to UK investors

Legg Mason has made its £7.7bn brandywine global opportunistic fixed income fund available to UK investors through its Dublin-domiciled fund range.

The fund will be co-managed by David Hoffman and Stephen Smith and invest primarily in investment-grade sovereigns, and some corporate bond and mortgage-backed securities exposure spread across developed and emerging markets.

According to Legg Mason, non-investment grade exposure will be capped at 35 per cent of the portfolio.

Adam Gent, head of UK sales at Legg Mason Global Asset Management, says: “With demand increasingly moving towards strategies with the flexibility to invest globally in pursuit of strong risk-adjusted and inflation-beating returns, we believe this fund will appeal to UK investors who want diversification and performance through a management team which has the proven ability to deliver in all types of market environment.”

Investments will be spread between eight and 16 countries that Brandywine believes offers the best total return potential.

The fund will aim to outperform the Citigroup world government bond index by at least 2 per cent annually over rolling five-year periods.

Initial charge for the fund is 5 per cent and also carries an annual management charge of 1.15 per cent.


Intelliflo to invest £10m as it enhances Standard Life integration

Intelliflo is to spend £10m boosting its adviser offering and has announced an enhanced integration with Standard Life wrap. The four-year investment programme will be funded from the technology firm’s working capital. Standard Life currently integrates Intelliflo’s contract enquiry service while the new deal will enable users to automatically value Standard Life wrap accounts. Standard […]

Octopus chief investment officer Lothar Mentel made redundant

Octopus Investments chief investment officer Lothar Mentel has been made redundant, alongside five other staff as part of a staff review. The other five members of staff were in customer services and operations. Mentel joined Octopus just over three years ago and left on December 12. Octopus is not replacing him with responsibility for continuing to […]


Cable investigates possible action against RBS directors

Business Secretary Vince Cable says he is investigating whether any action can be taken against any Royal Bank of Scotland directors who were at the bank in the run up to its near collapse in 2008. In a report published today, the FSA admitted it had a significant part to play in the near collapse […]

Capita valuations show fall in returns for Arch cru investors

The average amount to be returned to Arch cru investors under the FSA-agreed £54m compensation package has fallen to 66 per cent of the value of the funds at suspension, latest valuations from Capita reveal. The FSA agreed the compensation deal between Capita Financial Managers, BNY Mellon Trust & Depositary and HSBC Bank in June. […]

India: too big to ignore?

By Kunal Desai, head of Indian Equities, Neptune  India is officially the world’s fastest-growing major economy and remains firmly on track to become the third-largest economy by 2030, overtaking Japan and Germany. As an accelerating labour force combines with increasing labour productivity, is India getting too big to ignore? Click here for full article   […]


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