Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Legal & General IM to move DART out of absolute return sector

Legal & General IM to move DART out of absolute return sector

Legal & General Investment Management (LGIM) is seeking to change the name of its Diversified Absolute Return trust to the Global Macro Themes fund to broaden its investment remit.

As part of the proposed change in its investment strategy, LGIM will move the fund out of the Absolute Return sector and into the Specialist category.

The new strategy will see the manager Ben Gill focus on a three-year investment horizon, rather than a one-year timescale.

The strategy will also allow the fund to hold more than 30% in securities issued by the government.

Gill took over as lead manager on the fund after David North (pictured) went on sick leave earlier in the year.

The proposed changes will be sent to the fund’s investors at a meeting at the end of October.

The fund has returned 6.25% over one year to the end of September compared with the benchmark Libor GBP three months, which returned 0.8%.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Nick Hayes: finding good bonds in negative yield world

Nick Hayes: finding good bonds in negative yield world

Why do some bonds offer 'negative yields' and how do you avoid them? Nick Hayes of AXA Investment Managers explains.

Play Neil Gregson: gold is prettiest in ugly contest

Neil Gregson: gold is prettiest in ugly contest

The JP Morgan Natural Resource fund manager talks about the prospects for gold with plenty of uncertainty in the global economy.

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Gutteridge and Foster discuss UK commercial property with Jason Baggaley, manager of the Standard Life Property Income investment trust

Your Business: Cover Star Club

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Growing a business is the main aim of many company owners but managing that growth in a controlled way is just as important

Wealth Manager on Twitter