The London-based investment manager has brought down charges for three of five risk-targeted funds, while boosting the funds' management team.

Legal & General Investment Management, part of UK-listed financial services group Legal & General, has appointed a new co-fund manager and harmonised charges across its multi-index fund range.

Andrzej Pioch, who joined the multi-asset team in July as a fund manager from Aviva Investors, has been promoted to co-fund manager. He will work alongside lead manager Justin Onuekwusi and co-fund managers Bruce White and Martin Dietz on the multi-index fund range.

At Aviva, he was responsible for developing long-term return and risk assumptions across major asset classes, providing advice on dynamic asset allocation of multi-asset portfolios and managing a range of retail income funds and multi-asset funds.

“Andrzej and I have worked together for many years. The excellent support he has provided to the fund range since he joined has been a key part of its success, and I’m confident this will continue within his new role as co-manager,” said Onuekwusi.

Meanwhile, LGIM has reduced the fund management fee for its Multi Index 4, 6 and 7 funds from 0.32 per cent to 0.31 per cent, aligning the prices with those of the Multi Index 3 and 5 funds.

The L&G Multi Index 3, 4, 5, 6 and 7 funds provide exposure to UK and international equities and bonds by investing primarily in LGIM’s index tracking funds, and to UK property through the L&G UK Property Trust. The 33-strong asset allocation team managed over £30 billion ($46.8 billion) in multi-asset funds as of the end of March.