Legal & General hails multi manager funds

Wednesday, 09 December 2009 12:00

Legal & General is throwing the spotlight on its multi manager funds after research found they were proving popular with financial advisers.

Analysis revealed two thirds of advisers recommended the funds and one in four expect to advocate more multi manager products to their clients in the next two years.

Now Legal & General is promoting its own multi manager funds, which it believes fit in with what advisers demand when choosing the products.

The study showed the prime reason for selecting a multi-manager portfolio was performance of fund versus benchmark.

However, many advisers looked at diversity of the investment portfolio to spread risk and the underlying philosophy and investment approach.

Tim Gardner, co-manager of Legal & General’s three multi manger funds, said: “The research shows that our focus on performance, conviction and appropriate diversification has a clear fit in providing advisers with a complete investment solution.”

Legal & General co-founded its multi manager business in April 2008. However, Mr Gardner said the funds had got off to a healthy start, achieving top decile performance in the 12 months up to October 31st, 2009.

He added: “We are pleased to have delivered this strong start for our investors, having outperformed compared to benchmark in both the initial down period – up to March 2009 – and in the subsequent rally witnessed thereafter.”

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