BetaShares Legg Mason income active ETFs recommended by Zenith
Zenith Investment Partners has assigned a ‘recommended’ rating to the BetaShares Legg Mason Equity Income Fund (EINC) and the BetaShares Legg Mason Real Income Fund (RINC).
Both funds, which were launched this year in February, were designed to mirror the long-established unit trusts managed by Martin Currie Australia.
Zenith praised EINC for its investment team and investment process which represented “an attractive option within the Australian equity peer group”.
EINC replicates the strategy of the Legg Mason Martin Currie Equity Income Fund, which was launched in 2011 and produced a total return of 8.5 per cent over the 12 months to the end of September.
As far as RINC was concerned, Zenith said it had “high regard for portfolio manager Ashton Reid and the fund’s well-established investment process”.
Also, the fund was said to be well positioned to achieve its targeted objectives, while providing investors with a more defensive exposure to the Australian equity market, the research house said.
“We launched EINC and RINC in February of this year in direct response to demand from our existing clients,” Legg Mason’s managing director, Australia and New Zealand, Andy Sowerby said.
“Investors who prefer to deal on the ASX lacked choice for active investment strategies that target the production of high, sustainable and growing income streams. These active ETFs fill that gap.”
AUTHOR
Oksana Patron
Recommended for you
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
L1 Capital, which is in talks to merge with Platinum Asset Management, has indicated it will be voting against a deal to convert a Platinum LIC into an ETF.
Evidentia Group has hired a head of quantitative investments who joins the investment firm and managed account provider from AMP.
Fidelity International has worked in tandem with Australian wealth manager Emanuel Whybourne & Loehr to launch an actively managed global equities strategy aimed at financial advisers.
