LEGAL & General has launched a new unit trust that will take unconstrained strategic fixed income asset allocation positions across countries, fixed income asset classes, sectors and credit ratings.
The Dynamic Bond Trust will also make use of the wider UCITS III investment powers by employing a strategic credit derivative overlay as an additional mechanism for adding alpha. Launching on 30 April, the lead fund manager will be Richard Hodges, who is head of fixed income and joined from Gartmore earlier in the year. While Hodges is lead manager, a team based approach will also be used, using L&G’s fixed income teams. The Dynamic Bond Trust will initially be available to discretionary wealth managers and institutional clients only, with minimum investment of £50,000. A class a...
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