Legg Mason’ Real Income Strategy added to FirstChoice platform
Legg Mason’s Martin Currie Real Income Strategy, which invests in a blend of listed real assets, has been added to FirstChoice platform, managed by Colonial First State.
The strategy, which was launched in 2010, aimed to generate an income yield in excess of S&P/ASX 200 Index unfranked yield and to grow this dividend income yield in excess of the rate of inflation.
The asset classes in which the fund invested were Australian REITs (real estate investment trusts), utility and infrastructure securities that are listed on the Australian Securities Exchange (ASX).
Legg Mason’s managing director, Australia and New Zealand, Andy Sowerby, said: “We are very pleased to see interest in this strategy from financial advisers, given that in a low growth, low interest rate world, listed real assets are becoming the missing link between equities and fixed income for the income investor.
“Colonial First State’s FirstChoice is one of the leading investment platforms in the market and the strong demand for this asset class makes it a compelling investment option for clients, especially those in the retirement phase,” he said.
The fund, which was recommended by both Lonsec and Zenith, has currently more than $500 million in assets under management (AUM).
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.
