LV= Asset Management launches institutional income share classes across four funds

LV= Asset Management (LVAM), the fund management arm of insurance, investment and pensions group LV=, has launched Institutional Income Share Classes across four of its investment funds.

The LV= UK Corporate Bond Fund, LV= UK Property Fund, LV= UK Equity Income Fund and LV= European ex-UK Growth Fund all now offer an income option for non-retail clients. LVAM has taken this step in order to satisfy increasing demand from institutional and discretionary investors for its income generating products.

Both the LV= UK Corporate Bond Fund and LV= UK Equity Income Fund carry a Standard & Poor’s 'A' rating, with LV= European ex-UK Growth Fund an 'AA'. LV= UK Property Fund is managed by Howard Meaney, who is 'AAA' rated by Citywire.

The charges for this class will be exactly the same as for the existing accumulation shares, 0.4% to 0.6%, which compare favourably with market averages.

Matthew Wright, Head of Discretionary Business Development, LVAM, commented: "Over the past few years, LVAM has produced a range of products and services that have generated success by meeting our clients’ investment needs. Our new share classes are a natural extension of this approach as we broaden our client base."

Julian Thomas, Head of Product Development and Management, LVAM, said: "In a continuing climate of low interest rates, clients across the board are searching for income, alongside the need for a prudently managed investment approach. LVAM has maintained its trusted position amongst retail clients by delivering positive income yields and now opens up this option to the institutional market."