Generation Life, which currently manages more than $900 million, has announced the expansion of its investment menu by including two new Legg Mason’s funds, the Legg Mason Martin Currie Real Income Fund and the Legg Mason Martin Currie Emerging Markets Fund.
Generation Development Group’s head, Grant Hackett, said that his firm aimed to support members through various life stages and the Legg Mason’s investment strategies would complement its suite of investment bonds.
“Investment Bonds are a particularly useful alternative to superannuation. They are also used to fund long-term goals such as children’s education or to help provide for a deposit on a first home.
“They are an ideal savings tool due to there being no limit on how much can be invested and no preservation age. Investment Bonds are one of the best intergeneration wealth transfer tools, as they may be structured as a non-estate asset which can be transferred without triggering a tax event, a very effective solution that helps solve complex estate planning issues.”
Generation Life, previously known as Austock Life, is a specialist issuer of investment bonds and a division of the ASX-listed Generation Development Group.
Legg Mason Australia and New Zealand director, Andy Sowerby, commented: “We see the tax-effective investment bond market as a fast-growing segment of the wealth management sector and Generation Life are an undoubted market leader.
“We look forward to partnering with them to meet their clients’ goals.”