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L&G pensions track global indices

Legal & General is offering two new pension funds to follow global equity market returns for long-term investments.

The global equity index fund invests 70 per cent in L&G&#39s UK equity index tracker fund and 30 per cent in its overseas equity index tracker fund.

The global equity fixed-weight fund invests 60 per cent in L&G&#39s equity index tracker fund and 40 per cent in the overseas equity index tracker fund.

L&G has 30 internal pension funds available. The annual charge on all funds will be within the 1 per cent stakeholder charge cap.

L&G also has a range of 16 externally managed funds.

Both new funds have lifestyle versions which will invest initially in the index or fixed-weight funds and will gradually switch to fixed-interest and cash funds.

L&G promotes a core/ satellite investment strategy, where the core investment is held in index-tracking funds and the rest is held in an actively managed fund.

The actively managed fund can be either one of the in house or externally managed funds.

Pensions marketing director Andy Agar says: “We are committed to providing substantial in-house diversification of funds available to IFAs for their clients&#39 pension investment. We can offer IFAs a choice of 46 pension fund options.”

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