Bradford & Bingley has passed its £400m multi-manager mandate to L&G as it ends its contract with Axa...
Bradford & Bingley has passed its £400m multi-manager mandate to L&G as it ends its contract with Axa Framlington. L&G has launched two funds, Multi-Manager Growth Trust and Multi-Manager Income Trust, to replace similar vehicles run by Caspar Rock at Axa. Head of wealth at Bradford & Bingley Andrew Stead said the transfer will occur on 14 July and customers will benefit from a lower management fee of, on average, 1%. The investments will be held on L&G’s fund platform, Investment Portfolio Service.
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