Wealth manager said that the investment objective of its new income portfolio is to achieve a reasonable yield from a mix of different asset classes.The portfolio will pursue a diversified investment strategy targeting a moderate yield and will have a relatively low level of risk to capital and deliver a commensurate rate of return, the company claims.The L&C Cautious Income portfolio will invest roughly 15% of its assets in equities, 60% in bonds and 25% in cash.
The minimum investment for the product is GBP1, 000, in addition to an annual management charge of 25 basis points.
The existing income strategies, balanced and growth of L&C were launched in November 2011.
"The launch was in response to adviser demand for more income-focused products," FTAdviser quoted Bruce Ely-Johnston, head of adviser solutions at L&C as saying.
"The portfolios were rebalanced on a regular basis and had the ability to dramatically increase the cash weighting to preserve capital in highly volatile markets," he added.