Legal & General is seeking to shift its balance by expanding its actively managed fund range, accord...
Legal & General is seeking to shift its balance by expanding its actively managed fund range, according to out-going group investment director David Rough.
The group is set to take on four or five new active fund managers and has recruited a new chief investment officer, yet to be announced.
The plan over the coming year is to offer a number of portfolios that will have a target of 3% to 4% outperformance of their benchmark indices. It is thought that this will be achieved through restructures of some existing, poor-performing funds as well as new fund launches. The restructures are likely to involve poorer performing funds in the main investment markets including the UK, US and European markets, Rough said.
The group is seeking to attract £5bn into its actively managed funds and £10bn for its index funds over the next five years, according to Rough, who announced he is to leave the group next June to take early retirement. Rough said: 'We are putting together a more robust offering. We already have the expertise we need to add to it and raise our profile.' He added they would be seeking to add to the team in areas where they are not so strong but did not rule out taking on extra support for areas where they were stronger such as Japan and North America.
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