External fund managers to handle new L&G products

Legal & General is planning to offer four new fund products to be managed by external fund managers starting early next month. Under the proposals a 1% commission will be charged by L&G for any interested in taking up the stakeholder offer. From the 6 April 2001 stakeholder and retail pension customers will be offered a range of funds from Deutsche Asset Management, JP Morgan, Newton Fund Managers and SG Asset Management. Four funds from each group will be made available for investment including Newton Higher Income, Newton balanced, SG Europe Equity, Deutsche Life UK Equity and JP Morgan...