Legal & General Multi Manager funds maintain 1st quartile through third anniversary
12 May 2011
Legal & General’s three Multi Manager funds have delivered consistently strong 1st quartile returns since launch with total assets now exceeding £500 million.
The Multi Manager Growth Trust, the Multi Manager Balanced Trust and the Multi Manager Income Trust all co-managed by Alan Thein and Tim Gardner – have each outperformed (net of all fees) their respective benchmarks as they passed their third anniversary (25 April).
|IMA Sector||% Growth||Quartile||Percentile|
|Out/ under performance||+7.66|
|Out/ under performance||+9.98|
|Out/ under performance||+14.33|
Source: Lipper, net of fees, bid to bid, income reinvested net of UK basic rate tax, no initial charge.
Note: Past performance is not a guide to future performance.
Tim Gardner commented “our ability to deliver during some of the most challenging investment market conditions ever seen means intermediaries can be confident our approach to both asset allocation and fund manager selection is robust and capable of delivering sustained outperformance over time and in different market environments: We benefited from being defensive ahead of the heavy falls in markets in the latter part of 2008 (bear market); we profited from being overweight risk assets, notably Asia (ex Japan) and Emerging Markets, ahead of the strong recovery in 2009 (bull market); and our flexible and nimble investment approach (e.g. adding a UK long/short fund and a position in gold equities) has proved advantageous during the volatile market conditions seen since the start of 2010 (range trading market)”.
In August last year Alan and Tim were awarded an ‘A’ rating from OBSR after only two years from launch - an extremely noteworthy accomplishment. Previously the pair received an ‘A’ rating from Standard & Poor’s (November 2009) in recognition of their “thorough approach, stable team and strong performance”. In addition, Alan and Tim are both currently ‘AA’ rated by Citywire, a rating that shows they have delivered superior risk-adjusted personal performance returns.
Alan Thein added “we remain extremely focused on our conviction led approach to generate long-term positive returns for our investors. We have built a compelling track record to date and will seek to maintain this for our dutiful investors in the years ahead. Our ability to add value through a flexible, nimble and forward looking approach to both asset allocation and fund selection remains of paramount importance, especially in the current environment which remains extremely volatile”.
Investment is available through investment into the Legal & General Collectives, Portfolio Bond range and Portfolio Plus Pension range.
IFAs who require more information should contact their normal Legal & General representative or call the Legal & General Investment Technical Help Desk on 0845 070 6452. Lines are open from 9 am to 5 pm Monday to Friday. We may record and monitor calls. Call charges will vary.
Notes to editors
The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.
Alan Thein and Tim Gardner - who jointly manage all three of the Multi Manager funds and co-founded the business - have a boutique structure, which is independent of the firm's investment management arm, LGIM and is underpinned by a high quality investment process and rigorous approach to research.
- 1) The funds have an annual management charge of 1%. In addition to this a performance fee may be charged. The performance fee will be limited to a maximum of 1% per annum.
- 2) The value of investments may fall as well as rise and investors may not get back the amount originally invested.
- 3) Past performance is not a guide to future performance.
- 4) The current tax situation for investments may not be maintained.
Charges: The initial charge is 5% and annual management charge is 1%. The extra expenses include any charges incurred on the underlying funds. The current Total Expense Ratio (TER) for each trust is 1.80% for Multi Manager Income Trust, 1.81% for Multi Manager Growth Trust and 1.79% for Multi Manager Balanced Trust. The TER does not include any performance fee.
a) Legal & General Multi Manager Income Trust
Aim: To provide a high income with some potential for capital growth by investing in a wide range of collective investment schemes including unregulated collective investment schemes and will pursue an active asset allocation policy across all countries, currencies and sector representations. Th