Legg Mason Global Asset Management has launched the Legg Mason ClearBridge Tactical Dividend Income fund for UK investors.
The new fund which is domiciled in Dublin will be managed by Mark McAllister and Peter Vanderlee through subsidiary ClearBridge Investments.
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The fund invests in income-producing equities, including high dividend stocks, energy-oriented companies, Master Limited Partnerships (MLPs) and REITs.
This fund will follow an existing US-based ClearBridge’s US$417 million strategy and will try to gain exposure from improving US economy, including the energy boom and property market.
The new fund is designed to complement the UK domiciled Legg Mason US Equity Income Fund, also co-managed by Vanderlee.
Adam Gent, head of UK sales, said: "Yield-starved investors continue to seek alternatives to traditional sources of income as central banks keep rates at historically low levels.
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By GlobalData"While the US has become a hunting ground for equity income investors, with corporate America increasingly responding to the needs of an ageing population by paying and raising dividends, the extraordinary US renaissance in energy production has also begun to produce some interesting opportunities in the lesser-known MLP space, an area in which ClearBridge has strong knowledge and experience.
"The new fund will offer investors direct and indirect exposure to MLPs as well as to the best opportunities in traditional US equities and Reits, leveraging Mark McAllister’s significant US property market expertise," Gent added.
