The Philadelphia-based firm has confirmed it is to launch the Legg Mason Income Optimiser Fund as a UK onshore fund, the first Brandywine Global fund to enter its UK onshore range.
It will be managed by Gary Herbert, Regina Borromeo and Brian Kloss using a top-down, value-driven investment process. They will run it on a total return basis, aiming to maximise income yield in all market conditions over a rolling three to five-year period. While it is a long only equity fund and not a capital guarantee product, the managers will look to minimise capital erosion by investing in sovereign, emerging market, credit, mortgage and currencies.
Commenting on the launch, Adam Gent, head of UK sales at Legg Mason Global Asset Management, commented: ““This fund launch is the next step in building out the UK onshore fund range, and follows the Legg Mason US Equity Income Fund, which we added into the range late last year.”
It will launch initially with a minimum investment of £1m “while we develop the track record” Gent adds.
“Once a track record has been established, the fund will be opened up to the wider investment community, with the investment minimums lowered.”
