Legg Mason has added to its range of UK onshore funds with the launch of the Legg Mason Income Optimiser fund, to be managed by subsidiary Brandywine Global.
The fund – which will invest in sovereign, emerging market, credit, mortgage and currency assets – will be team-managed by Garry Herbert, Regina Borromeo and Brian Kloss.
The new launch will be managed on a total return basis and aim to maximise income yield in all market conditions over a rolling three-to-five year period.
Adam Gent, head of UK sales at Legg Mason Global Asset Management, says: “We already offer two global fixed income funds, managed by Brandywine Global in our Dublin range, which have performed consistently well over a number of years, including the most recent year, a very turbulent one for investors.
“The launch of the Legg Mason Income Optimiser fund sees the first Brandywine Global managed fund to enter our UK onshore range.”
Gent says the launch is the “next step” in building out its UK onshore range.
The fund will have a minimum investment of £1m, initially.
Gent adds: “We’ve included the high minimum investment while we develop the track record. Once a track record has been established, the fund will be opened up to the wider investment community, with the investment minimums lowered.”