Lincoln is linking up with Lazard Asset Management to offer life and pensions vehicles based on a fu...
Lincoln is linking up with Lazard Asset Management to offer life and pensions vehicles based on a fund of funds approach.
The underlying investment vehicle, called the Select Managed Fund, will be managed by Lazard's fund of funds and portfolio managed service operation which is headed up by John Chatfeild-Roberts. The Lincoln mandate will be run as a discrete portfolio. Although it will not be part of the Lazard managed portfolio service the Lincoln fund will draw on Lazard's fund of funds research.
Lazard said it initially expects to use funds from around 16 groups for the product, including Perpetual, Schroders, Barings, Threadneedle, Fidelity, Fleming Asset Management, HSBC Asset Management and Newton. Other names on the list include BGI, Baillie Gifford, Cazenove, Framlington, Lazard, Martin Currie, SocGen and Stewart Ivory.
The product will have a 1% initial charge discount up to 20 August, which will take the initial charge from 5% to 4% for both the life and pension fund versions. The annual management charge for the pension fund version is 1.75% and is 2% a year for the life fund version.
Rob Merrick, investment marketing manager at Lincoln, said: "We are looking to expand the number of external fund managers that we have to give our clients a wide choice of fund managers. The Select Managed Fund will have some direct holdings in gilts and will also invest in unit trusts and Oeics."
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