Legg Mason moves to attract SMSFs and retail investors

self-managed-superannuation-funds/retail-investors/SMSFs/fund-manager/risk-management/

7 December 2013
| By Staff |
image
image
expand image

Fund manager Legg Mason Australia has sought to drive further into the retail and self-managed superannuation funds market by reducing the minimum initial investment amount on five of its funds.

The company announced this week that it had reduced its minimum initial investment amount to $30,000 for the Australian Real Income, Australian Equity Income, Australian Small Companies, Australian Bond and Diversified.

The company said the move was in response to increased interest from advisers and retail investors seeking to directly invest into the company's funds. Previously, the minimum investment amounts were $200,000 to suit wholesale investors and platforms.

Commenting on the move, Legg Mason Australia head Annalisa Clark said the company had reduced its minimums in order to make its investment capabilities more accessible to a growing segment of the market.

Clark said Legg Mason had also implemented Calastone's paperless, straight-through processing service for platform fund flows, which is expected to provide risk management, cost and efficiency improvements.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 5 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 4 days ago

TOP PERFORMING FUNDS