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L&G could add UK equity income to fill fund gap

Legal & General Investments managing director Simon Ellis says the company is looking at adding a UK equity income fund to its investment range.

He says the firm is keen to build a strong UK offering and an equity income fund is a clear gap in its range. Ellis says the company wants to assess a number of factors before launching a product.

He says: “UK equity income is such a competitive sector with a large proportion of assets going to a small number of leading players in the area.

“We need to provide a product that will obviously gain traction and we have not ruled out producing something that is different to traditional equity income funds, however, this is still at an early stage and nothing is concrete yet.”

Ellis says if L&G does launch a fund, it will not look to acquire an external manager to run the product, saying the firm has the capabilities to run the fund in-house.

Hargreaves Lansdown investment manager Ben Yearsley says: “It is the only major product that is missing from L&G’s range. Everybody wants one because the sector always sells.”


Retirement merger

Retirement Solutions and Annuities 4U have merged to form Retirement Solutions UK. The Cheshire-based IFA firm says the move will enable it to become a comprehensive resource and service provider.

Freeman-Shor to work on entire Skandia ideas range

Skandia Investment Management has promoted Lee Freeman-Shor to co-portfolio manager across the group’s entire best ideas range. Freeman-Shor, who was co-head of equity research, will work alongside Francois Zagame. Skandia launched its global and UK best ideas funds in 2006. The funds have had mixed returns, with the UK fund currently fourth quartile in the […]


Lenders hit back at Cameron criticism

Lenders have slammed Prime Minister David Cameron’s claims that they are holding back the housing market by lending too cautiously. Last week, Cameron called on lenders to return to “respectable” lending to get the housing market moving. Building Societies Association head of mortgage policy Paul Broadhead says the Government cannot criticise lenders for being more […]

Changes to early exit pension charges

In November last year, the FCA announced that from 31 March 2017, early exit pension charges will be capped at 1% for those customers who are eligible to access their retirement savings from age of 55. The rules also state that for new personal pension plans started after that date, or on new increments into […]


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