The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Legal & General Investment Management
Legal & General Investment Management (LGIM) has just launched three new active fixed income funds to complement its existing global high yield offering.

The newly-launched L&G Euro High Yield Fund, L&G US High Yield Fund, and L&G Emerging Markets High Yield Bond Fund will employ the macro driven investment approach that has been embedded within LGIM’s Global High Yield Bond fund over the past 12 years, the firm said in a statement.

The new funds will focus on the higher quality segment of the investment grade market, the firm continued. The funds, which will be available to investors in Germany, Luxembourg and the UK, with registrations in additional markets expected shortly, will be managed by LGIM’s global high yield team led by Martin Reeves.

Alongside the new funds, LGIM said it has added additional share classes to funds in its Luxembourg-domiciled range. Twenty-seven new share classes are being added across 18 sub-funds to provide a more consistent offering for clients. LGIM has also implemented a number of fee reductions, with annual management charge (AMC) amendments applicable to 26 share classes across 18 SICAV sub-funds. These changes are in response to growing investor demand and seek to deliver value, the firm added.

Wealth Club
Wealth Club has launched its new Wealth Club Portfolio Service – an online investment portfolio management service for high net worth and sophisticated investors.

The service consists of five multi-asset portfolios managed by Wealth Club’s head of research, Jonathan Moyes and his team, the firm said in a statement. There will be investment across a range of asset classes including bonds, equities, property, infrastructure and private equity, with a blend of passive and actively managed funds, as well as investment trusts.

Average costs, including management, platform and ongoing fund charges, reach 1.08 per cent, for a minimum investment of £100,000 ($126,000) across all portfolios, the firm added. As a result, Wealth Club estimates that investors could save up to 40 per cent versus a conventional wealth manager giving advice, and a similar saving for an investor managing a typical fund portfolio themselves on a DIY platform.

“Investors can typically expect each portfolio to be invested across 30 to 45 funds,” Jonathan Moyes, head of research and manager of the Wealth Club Portfolios, said.