L&G launches range of passive multi-asset funds

Legal & General Investments (LGI) has launched a range of multi-asset funds investing mainly in passive index trackers.

The L&G Multi Index funds, numbered between three and seven and using risk-grading from Distribution Technologies, will invest across L&G’s own range of passive products for access to equities and bonds, with exposure to property from the actively managed £866m L&G UK Property Trust, run by Michael Barrie and Matt Jarvis.

The funds will have an annual management charge of 0.25 per cent and the asset allocation will be managed by L&G’s strategic investment and risk management team.

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LGI earlier this month declared that it wants to be a “major player” in passive investing and recently overhauled its active equity team, which included axing head of UK equities Robert Churchlow.