Legal & General Investment Management (LGIM) has launched an index tracker fund focused on the UK mid-cap sector.
The L&G UK Mid Cap Index fund will track the performance of the FTSE 250 ex Investment Trust index, providing exposure to medium-sized UK-listed businesses. The launch comes after the Investment Association recently revealed index funds represented 13.4% of all retail funds under management in Novermber 2016, up from 11.5% a year before. Simon Hynes, head of UK retail distribution at LGIM, said: "We are committed to offering our investors broad, low-cost exposure across a broad range of asset classes, and we are pleased to expand our market-leading range of high-quality index funds. ...
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