L&G expands retirement range with Real Income Builder launch

The fund will invest in large-cap equities and investment grade fixed income and is designed for savers in defined contribution schemes, as well as pension and long-term investors.  It aims to generate an income from dividends and interest that grows by inflation plus 4% per annum over three year rolling periods. It also aims to grow total returns in line with income and have a medium capital risk, having two-thirds of equity market exposure in a market downturn. Managed by Lance Philips, head of active equity, and his team, the fund already has £500m of internal L&G money invested...