Legg Mason confirms Tactical Dividend Income launch

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Legg Mason Global Asset Management has confirmed it is launching the Legg Mason ClearBridge Tactical Dividend Income fund.

Domiciled in Dublin, the fund is a mirror of the $417m US-based original and will be managed by Mark McAllister and Peter Vanderlee.

As revealed by Fundweb in May, the fund will focus on master limited partnerships, energy oriented stocks and high dividend equities, investing in real estate investment trusts both directly and indirectly. 

Legg Mason head of UK sales Adam Gent says: “Yield-starved investors continue to seek alternatives to traditional sources of income as central banks keep rates at historically low levels.

“The new fund will offer investors direct and indirect exposure to MLPs as well as to the best opportunities in traditional US equities and Reits, leveraging Mark McAllister’s significant US property market expertise.”