L&G to manage funds for Bradford & Bingley
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by Frances Hughes
Bradford & Bingley has appointed Legal & General (L&G) to manage its £400m multi-manager portfolio, in place of Axa Framlington.
The MultiManager Growth trust and the MultiManager Income trust will be co-managed by Alan Thein and Tim Gardner at L&G and will replace the Axa Framlington Multimanager Growth and Income funds.
The objective and risk profile of the new L&G funds are similar to that of the Axa Framlington mandates. However, there is a lower annual management charge of 1%, as well as a performance fee of up to 1%.
