LGIM unveils European equity income fund

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London-headquartered firm Legal & General Investment Management (LGIM) has bolstered its equity income offering with the launch of the L&G European equity Income fund, a UK domiciled unit trust.

The fund invests predominantly in European companies (excluding the UK) and is managed by Andrew Koch, who joined LGIM’s global equity income team in 2014 from the in-house pension scheme at BAE Systems.

The LGIM’s European income strategy has around £450m(€505.5m) of assets under management and has been managed by Koch since September 2014.

Koch said: “We take a disciplined approach to portfolio construction, balancing an attractive current yield, the potential for dividend growth and the opportunity for attractive long-term total return. The portfolio is relatively concentrated with approximately fifty stock ideas. We invest in companies which represent the best examples of high quality enterprises and which in our opinion look attractively valued versus their peers, their history and the market overall.”

LGIM had £951.1bn (€1.07trn) of assets under management as of 30 June 2017.