Legal & General Investment Management (LGIM) has launched a Multi-Index Income range of funds that invests in equities, bonds and property.
The fund range has three risk-targeted multi-asset funds designed to generate income while maintaining appropriate levels of risk.
LGIM says the new range builds on its success in raising assets for another multi-index product, called the Multi-Index Fund, which has raised £600 million (€806 million) since its launch two years ago.
The newer income funds aim to earn more total return from income in comparison to the original multi-index range.
Income will be distributed on a monthly basis in the income class; an accumulation class is also available.
To be cost effective, the funds will gain exposure to markets primarily via Legal & General index tracking funds, alongside some investment in active funds and external income-focused exchange-traded funds.
Lead managers are Justin Onuekwusi and Andrzej Pioch.
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