L&G launches UK Special Situations fund

To be launched on 10 November, the fund will typically hold a concentrated portfolio of 30 to 50 stocks selected on a bottom up basis. It will invest predominantly in UK companies, though also has remit to hold up to 20pc exposure to European stocks. Fletcher said: "We have been cautious on equities for over a year but believe that equity valuations are becoming more attractive, despite the continuing downward pressure on corporate profits. The next 12 months are likely to offer fantastic investment opportunities for the investor in 'special situations'." He added: "Legal & General's ...