Legal & General Investments recently publicized the launch of the Legal & General UK Equity Income Fund. The fund will be headed by Richard Black.
Investments were made available at the fund just a few days ago, and the company has said that it hopes to reach a revenue in excess of the FTSE All-Share Index yield. They also plan to provide capital growth in the future.
The minimum investment in the fund is 500 euro, with no maximum limit. The investments will be available through large IFA platforms, as well as unit trusts or ISA.
Plans for the Future
Richard Black explained that “The fund will aim to produce a sustainable income and capital growth through investment in UK equities by adopting a flexible investment approach, building on the UK equity team’s proven and successful research and stock screening processes.” He added that “the fund is also able to use a covered call strategy to boost the income potential of stocks with strong dividend yields but low capital growth potential.”
Frank McGarry, sales director at Legal & General Investments said: “Under the leadership of Robert Churchlow, our UK team has built an enviable track record in equity fund management. The addition of the UK Equity Income Fund to the range provides investors with a fund that can fully capitalize on opportunities as they emerge.” He continued, “The Equity Income Fund has been developed to strengthen our existing range of equity finds. The fund aims to provide an income excess of the FTSE All-Share index yield and is designed to sit as a core holding in a balanced portfolio.”