The suite consists of five risk-targeted multi-asset funds, which should suit Onuekwusi well given he ran a similar range at Aviva Investors.
He was lead manager on Aviva Investors’ multi-asset funds, which grew from a suite of three to one of five in January 2012. This occurred in line with the renaming of the IMA managed sectors, and the funds were relabelled from cautious, balanced and adventurous to Multi-Asset II, IV and V. Multi-Asset I and III were added to complete the range.
Aviva Investors’ co-head of multi-manager Peter Fitzgerald has now taken over the management of the funds, alongside Nick Samouilhan who was deputy to Onuekwusi.
Meanwhile, L&G’s new range run in line with Distribution Technology risk ratings starting at three and up to and including seven.
Onuekwusi will work closely with LGIM fund managers Bruce White and Martini Dietz.
John Roe, head of strategic investment and risk management at LGIM, said: “Justin’s extensive experience in managing multi-asset risk targeted funds will be a great complement to our team’s capability, especially as we bring our new Multi-Index Funds range to UK advisers.
We’ve designed these funds so advisers can more readily match investment portfolios to a client’s risk profile, knowing that our multi-asset team will continuously monitor and dynamically manage the funds’ asset allocation mix with the objective to maintain the pre-determined risk profiles.”
Onuekwusi used passive funds in his previous role, but with this range will use mainly passives, which will keep the AMC of the funds down to 0.25%.