Legal & General's funds on Skandia investment solutions platform all available with clean share class.
10 June 2013
Legal & General Investments (L&GI) announces today that it has made its clean, nil-commission 'I' share class available for all 23 L&GI funds that sit on the Skandia Investment Solutions platform. The move is in recognition of the increasing popularity of fund platforms amongst UK advisers and is designed to help them provide Retail Distribution Review-friendly solutions more readily to their clients.
This development closely follows the news that L&GI would be cutting the charges for UK advisers on a number of its index funds. The fee cut was announced in April 2013 in order to provide clients with good value index funds at a time when the Retail Distribution Review has created waves of new interest in this type of investing.*
A full list of the available funds is detailed below. It consists of L&GI's core index range along with a number of actively managed funds, including the Legal & General Dynamic Bond Trust managed by Richard Hodges, the Legal & General Managed Monthly Income Trust managed by Michel Canoy and the Legal & General UK Property Trust managed by Michael Barrie and Matt Jarvis.
Commenting on this development, Simon Pistell, MD Investments, says: "One of the main aims of the Retail Distribution Review was to offer better transparency regarding fund charges. As a result, the need to develop and make available a clean share class was imperative. More and more advisers are choosing to conduct their investment business via fund platforms and it has been our objective to make this share class readily available on all such portals, helping advisers and their clients to continue to access our funds in a straightforward manner."
*In April 2013, L&GI announced that the AMC for I Class units in its single country and regional index funds would be 0.15%, reduced from 0.20% and the AMC for its core global index funds 0.25%, reduced from 0.30%.
Legal & General Asian Income Trust
Legal & General Ethical Trust
Legal & General European Index Trust
Legal & General Fixed Interest Trust
Legal & General Global 100 Index Trust
Legal & General Global Emerging Markets Index Fund
Legal & General Global Macro Themes Fund
Legal & General Japan Index Trust
Legal & General Managed Monthly Income Trust
Legal & General Multi Manager Balanced Trust
Legal & General Multi Manager Growth Trust
Legal & General Multi Manager Income Trust
Legal & General Pacific Index Trust
Legal & General UK 100 Index Trust
Legal & General UK Alpha Trust
Legal & General UK Index Trust
Legal & General Global Environmental Enterprises Fund
Legal & General International Index Trust
Legal & General US Index Trust
Legal & General Dynamic Bond Trust
Legal & General UK Property Trust
Legal & General All Stocks Gilt Index Trust
Legal & General All Stocks Index Linked Gilt Index Trust
The value of investments and any income taken may fall as well as rise, and investors may get back less than they invest. Past performance is not a guide to future performance. Exchange rate changes may cause the value of any overseas investments to rise or fall. Details of the specific and general risks associated with the funds mentioned are contained within the Key Investor Information documents.
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.
The Legal & General Group, established in 1836, is one of the UK's leading financial services companies. As at 31 December 2012, we were responsible for investing £413 billion worldwide on behalf of investors, policyholders and shareholders. We also had over seven million customers in the UK for our life assurance, pensions, investments and general insurance plans.
For more information please contact:
PR Manager Legal & General Group
t: +44 (0) 203 124 2092