Legg Mason has launched a tactical high income fund to try to gain exposure from improving US economy, including the energy boom and property market.
The Dublin-domiciled Tactical Dividend Income fund will be managed by Mark McAllister and Peter Vanderlee through subsidiary ClearBridge Investments.
It aims to capitalise on a strengthening invest in predominantly in high dividend stocks, real estate investment trusts and energy-orientated companies.
Adam Gent, head of UK sales at Legg Mason, said: “Yield-starved investors continue to seek alternatives to traditional sources of income as central banks keep rates at historically low levels.
“While the US has become a popular hunting ground for equity income investors, with corporate America increasingly responding to the needs of an ageing population by paying and raising dividends, the extraordinary US renaissance in energy production has also begun to produce some interesting opportunities in the lesser-known MLP space; an area in which ClearBridge has strong knowledge and experience.
The annual management charge for the retail A share class will be 1.5 per cent.
