Legal & General Investment Management has rung the changes on both its Japanese trust and the Pacific Growth trust.
The revamp of the portfolios' construction follows the re-focused investment philosophy adopted by the UK and European teams. From the beginning of September 2008, the Japanese trust will typically comprise 60 stocks, reduced from 80, whilst the number of stocks held within the Pacific Growth trust will be reduced from approximately 95 to 60. This move reflects LGIM's active equity mantra that high conviction best ideas portfolios will outperform throughout the cycle. Ben Waterhouse, sales director at Legal & General investments, explained: "The decision to reduce the number of stock...
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