State Street wins mandate to run Liontrust bond exposure

Liontrust is to use State Street Global Advisers to run the bond exposure in its forthcoming Distrib...

Liontrust is to use State Street Global Advisers to run the bond exposure in its forthcoming Distribution Fund, to be managed by Jeremy Lang. State Street's mandate is to track the FTSE All Stocks five to 15-year gilt index and Liontrust marketing director Jonathan Harbottle said indexing has proved cheaper than other alternatives. The Liontrust Distribution fund, first reported in Investment Week, will be on the market by the end of this year, subject to regulatory approval. It will invest some 60% in gilts with the remainder in equities run by Lang. The aim is to produce a yield of be...