Legal & General Investment Management has cut fees on its multi-index fund range and promoting a fund manager.
The five risk-targeted funds, which have £500m in assets, willl now have management charges of 0.31 per cent instead of 0.32 per cent for the multi index 4, 6 and 7 funds, bringing them in line with the 3 and 5 funds.
The funds invest in UK and international equities and bonds through LGIM’s index tracking funds, and in UK property through the L&G UK Property Trust.
Andrzej Pioch, already fund manager in the multi-asset team, has been promoted to co-fund manager of the range working alongside lead manager Justin Onuekwusi.
Pioch, who joined LGIM’s multi-asset team in July 2014, will be part of a 33-staff team managing £30bn in multi-asset funds.
Onuekwusi, lead fund manager on LGIM’s multi-index fund range, says: “Andrzej and I have worked together for many years. The excellent support he has provided to the fund range since he joined has been a key part of its success, and I’m confident this will continue within his new role as co-manager.”
Pioch joined LGIM as a fund manager from Aviva Investors, where he advised on dynamic strategic asset allocation of multi-asset portfolios as well as managing a range of retail income funds and multi-asset funds.