Legal & General Investment Management has hired Nigel Masding as lead manager of the £555m Real Income Builder fund.
Masding joins LGIM from Longview Partners, where he was a partner and global equities research analyst, having also held roles at HSBC Halbis Capital Management and First State Investments.
In his new role Masding will report to Nick Hartley, head of inflation plus strategies within LGIM’s active equities team.
The L&G Real Income Builder fund, which launched in January 2015, aims to provide an income that grows by 4 per cent more than UK inflation per annum and a total return of 4 per cent more than UK inflation per annum with income reinvested.
Earlier this month LGIM hired Stephen Message – former manager at Old Mutual Global Investors – as a fund manager focusing on UK income strategies.
Nick Hartley says: “We are excited to welcome Nigel and Stephen to LGIM. Each brings a wealth of experience in the global active equity space, which will enhance our growing team. Their appointments reflect our commitment to developing LGIM’s active equity proposition.”