LGIM widens multi-asset range amid global expansion

Legal & GeneralLondon-based Legal & General Investment Management (LGIM) has launched a Luxembourg version of its L&G Multi-Asset Target Return fund in the UK, saying it expects demand from Europe.

The move is also part of the asset manager’s global expansion plans after a series of senior hires in Germany and the registration of 23 products for European investors, LGIM said.

The multi-asset fund generates returns from diversified market exposure, alternative and tactical strategies. It is targeting a cash plus 5% return per annum over rolling three-year periods.

“The fund has the flexibility to implement short term views on asset classes, countries, currencies and sectors and there will also be specific trades aiming to provide positive performance during difficult market environments,” the firm said.

This fund is set to be managed by those who manage its sterling equivalent, which returned 3.58% annually since its launch in 2015, according to LGIM. Emiel van den Heiligenberg, Willem Klijnstra, John Roe and Chris Teschmacher will manage the fund which will be available for retail and institutional investors to purchase in Benlux, the Nordics, Sweden, Germany, Ireland and Switzerland.

Van den Heiligenberg said there had been strong demand for the fund from UK investors over the past three years and that the appetite was expected to extend to European investors seeking returns less correlated to market performance.

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