Legal & General Launches New Multi-Strategy Credit Fund

Sep 3 2015 | 8:07pm ET

London-based asset manager Legal & General (LGIM) has launched a new credit fund aimed at providing positive total return over a 3-5 year horizon, growth and sustainable cash flows at relatively low risk.

The L&G Multi-Strategy Credit Fund is being billed as a “best-ideas” fund, according to the company, and is a Luxembourg-domiciled SICAV. It will be managed by Omar Saeed, senior macro credit fund manager at LGIM, who was hired in February Swisscanto Asset Management in Zürich.

The fund will seek to capture relative value credit opportunities through diversified, active allocations across credit, rates and currency markets. The fund is expected to engage high yield and emerging market debt, among other sectors.

Management of the fund will fall to Omar Saeed, who is currently senior macro credit fund manager at LGIM and also runs the Legal & General Dynamic Bond fund. Saeed joined LGIM in February from Zurich-based Swisscanto Asset Management.

“Multi-strategy credit is an unconstrained investment approach and is designed to capture our best ideas across global fixed income markets, with a strong emphasis on downside risk,’ said Anton Eser, co-head of global fixed income at LGIM.

Legal & General Investment Management manages more than £737 billion in total assets for more than 3,000 clients. The company’s 67-person global fixed income team managed approximately £107 billion of actively managed assets as of 30 June 2015. 

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