Legal & General Investments has launched five new risk-targeted funds as part of its multi-index range.

The multi-asset funds are diversified by asset class and offer exposure to UK and international equities, bonds and direct property. The firm also promises low fees on the funds, with an annual management charge of 0.25 per cent (I unit class).

Each of the multi index funds corresponds to a specific risk rating, which they are obliged to maintain. The funds’ asset allocations and risk targets will be managed by L&G’s strategic investment and risk management team.

“Many UK advisors are looking for low-cost investment solutions that are easy to match to their clients’ risk profile. Risk-targeted multi-asset funds are ideal for this environment,” said Simon Pistell, managing director at Legal & General Investments.

As of 30 June 2013, the UK-based Legal & General Group was responsible for investing £433 billion ($679.6 billion) worldwide.