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Legal & General launches European Equity Income fund

Legal & General launches European Equity Income fund

Legal & General is to launch a European Equity Income fund.

The fund will invest in European shares, excluding those listed on the UK stock market.

The aim of the fund is to achieve a yield greater than that of the market.

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It will be managed by Andrew Koch, who has been an employee of Legal & General since 2014 and part of the global equity team.

He previously managed the pension scheme of BAE Systems, a defence contractor, and prior to that worked for investment house Phillips & Drew.

Adrian Lowcock, investment director at Architas, said: "The philosophy of the new European income fund is what investors should look for in an equity income manager - a combination of a decent good quality income with the potential of long term growth.

"I like the fact that Koch has handed over the management of the UK Equity Income fund allowing him to dedicate his time to focus on investing in Europe.

"Overall this is an interesting additional to the LGIM range of equity income funds, but we will need to see how the fund performs and delivers on its objectives."