LeggMason Investors is looking to launch more unit trusts using fund management expertise from its U...
LeggMason Investors is looking to launch more unit trusts using fund management expertise from its US parent, writes Mark Colegate.
LeggMason owns a number of subsidiaries in the US including Western, a California-based global bond specialist with a London office and some $56bn in assets.
It also owns Batterymarch, a Boston-based asset manager established in 1974 which specialises in emerging markets. Rebecca Thomas, chief executive at LeggMason Investors, said global bonds and emerging markets were two obvious areas where the UK group lacked funds and it would be keen to fill these gaps.
The group now has some £380m in retail unit trusts in total and is looking to market its funds more aggressively as they come up for their five year track records.
Both UK Income and UK Growth were launched in October 1995 and European Growth in November 1995.
The initial charge on the two funds has been reduced to 3% until 31 December this year to mark their fifth anniversaries.
Thomas said once the funds have five year records they should immediately look more attractive to top end intermediaries and fund of fund managers.
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