Legal & General Investment Management is bringing a UK special situations fund to the retail market ...
Legal & General Investment Management is bringing a UK special situations fund to the retail market on 10 November. Manager Matt Fletcher will run a 30 to 50-stock portfolio, holding undervalued companies including those restructuring their management teams or refinancing. The manager expects this theme to be especially relevant going into 2009, when more companies are forced to make changes as a result of the credit crunch. Fletcher must hold 80% in UK stocks, with the remainder split between Europe and cash. This European exposure allows the manager to buy into sectors less access...
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