Legal & General Investments has launched a range of five risk targeted multi-asset funds with an AMC of 0.25%, as it looks to benefit from the move by advisers to outsource fund selection.
The L&G Multi-Index 3, 4, 5, 6 and 7 funds will be run by an 18-strong investment team, with the launching coming just months after the group poached Aviva Investor's multi-asset manager Justin Onuekwusi.
Onuekwusi is set to start in his new role at the end of the month.
The new funds will invest in equities and bonds, as well as property, through L&G's tracker funds and its UK Property trust.
Each fund targets a specific risk rating, with the asset allocation set using data from Distribution Technology, the independent technology group.
The funds are constantly monitored and re-balanced to keep them within the set risk boundaries.
Simon Pistell, managing director, said: "Many UK advisers want to reduce their focus on monitoring the fund universe and rebalancing portfolios and add value to other parts of the advice and investment process instead.
"We have designed our range to be easy to monitor, low in cost and to fit the way advisers are working with their clients today."
The new fund range will have an annual management charge of 0.25%.
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