02 January 2018

Legal & General launches European Equity Income Fund

Legal & General Investment Management (LGIM) announces the expansion of its equity income product offering with the launch of the L&G European Equity Income Fund ("The Fund"), a UK domiciled Unit Trust.

The Fund invests predominantly in European companies (excluding the UK) and aims to generate an attractive yield above the market, while maintaining a total return mind-set over the longer term.

The Fund is managed by Andrew Koch, Fund Manager, who joined LGIM’s Global Equity Income team in 2014 from the in-house pension scheme at BAE Systems. He previously spent ten years at Phillips & Drew managing European, UK and Japanese equities.

Andrew 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’s European income strategy is well established, with approximately £450 million of assets under management, and has been managed by Andrew since September 2014. The Fund extends LGIM’s range of Equity Income funds to cover global, UK, European and Asian markets1.

Honor Solomon, Head of Retail Distribution, EMEA at LGIM commented: "An income approach remains important to our clients in the low return environment and we are committed to providing our investors with a variety of income sources to suit their requirements."

ENDS

Further information

Nicolette Botbol
Media Relations Manager
0203 124 4355
[email protected]
www.lgim.com

Michelle MacMillan
Senior PR Consultant
0203 124 4895
[email protected]
www.lgim.com

Notes to editors

Legal & General Investment Management

Legal & General Investment Management is one of Europe’s largest asset managers and a major global investor, with total assets of £951.1 billion*. We work with a wide range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.

Throughout the past 40 years we have built our business through understanding what matters most to our clients and transforming this insight into valuable, accessible investment products and solutions. We provide investment expertise across the full spectrum of asset classes including fixed income, equities, commercial property and cash. Our capabilities range from index-tracking and active strategies to liquidity management and liability-based risk management solutions.

*LGIM internal data as at 30 June 2017. These figures include assets managed by LGIMA, an SEC Registered Investment Advisor. Data includes derivative positions.

1 Equity income fund range consists of L&G Real Income Builder Fund, L&G UK Equity Income Fund, L&G European Equity Income Fund, L&G Asian Income Trust

Andrew Koch - Fund Manager

  • Andrew joined LGIM in August 2014 and is a fund manager in the Global Income team within Active Equities, running c£450m in assets
  • Joined from the in-house pension scheme at BAE Systems, where he was head of the European equities team, and sat on the asset allocation committee
  • Started his career at Phillips & Drew in 1992, where he spent ten years investing in UK, European and Japanese equities
  • Subsequently managed equities at HSBC Asset Management and Henderson Global Investors
  • Andrew has an MA from New College, Oxford, in philosophy, politics and economics. He has been a CFA charterholder for over 20 years