LGIM America (Legal & General Investment Management America), a registered investment adviser (RIA) specializing in designing and managing investment solutions across active fixed income, index, multi-asset and liability driven investment in the US market, today announced the launch of five new mutual funds.
The funds are designed for distribution through the defined contribution plan market in the US. LGIM America’s flagship fund, Legal & General Retirement Income 2040 Fund, focuses on “retirement income and investment solutions that help retirees make the right spending decisions throughout their retirement journey,” the company said in a release today.
Details of the five funds, which are offered only to institutional investors, include:
The Legal & General Retirement Income 2040 Fund is composed of the four funds listed below. Its goal is to provide current income during the early and middle-years of retirement while ensuring capital is not exhausted prior to the fund’s terminal date.
The Legal & General Global Developed Equity Index Fund seeks to provide investment results that, before fees and expenses, track the performance of the MSCI World Index.
The Legal & General Cash Flow Matched Bond Fund seeks current income through the management of investment grade credit with a final maturity between zero and five years. The Fund does not have a specific target for its average duration. The Fund’s portfolio is laddered by investing in fixed income securities with different final maturities so that some securities age out of the zero- to five-year maturity range during each year.
The Legal & General Long Duration US Credit Fund aims to maximize total return through capital appreciation and current income. It primarily invests in investment-grade fixed income securities with an average portfolio duration that is within 10% of the Fund’s benchmark, the Bloomberg Long Duration US Credit Index.
The Legal & General US Credit Fund looks to maximize total return through capital appreciation and current income. It primarily invests in investment-grade fixed income securities with an average portfolio duration that is within 10% of the Fund’s benchmark, the Bloomberg Capital US Credit Index.
“These Funds are part of a larger retirement income solution initiative and complete our retirement income strategy, which is designed to bring investors through the early- to middle-years of retirement. Within the first several months of 2022, we anticipate completing a long-life strategy, which is the longevity piece of our solution and designed to support individuals into their later years of retirement,” the release said.
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