The latest in funds and investments in North America.

Legal & General Investment Management
Legal & General Investment Management has launched a new sterling income share class for its L&G Multi-Asset Target Return GPB fund. The class will be available to investors in the UK and is aimed at those who are seeking a regular cash flow from their investment.

The fund, which was launched three years ago, aims to compete with equities with a cash plus 5 per cent return target per annum over rolling three-year periods. 

LGIM said that the fund has “consistently outperformed sector peers posting 7.2 per cent returns versus a 5.5 per cent target since launch over the last three years (19 February, 2016-15 April, 2019).

The fund is managed by Emiel van den Heiligenberg, Willem Klijnstra, John Roe and Chris Teschmacher. A SICAV version of the fund was also launched earlier in the year for international clients.

Veneziano & Partners
Veneziano & Partners, an international regulatory advisory consultancy, has launched an online digital repository containing European rules on fund distribution, called World Gondola. 

The digital database informs users on European rules and regimes governing marketing, sale and distribution of European and non-European investment funds. 

The firm said such a database is needed because European financial services rules are expanding fast. For example, the Alternative Investment Fund Managers Directive, which governs hedge funds, private equity and property, has made selling, marketing and distributing these funds more complex.

“World Gondola is here to address the needs of fund managers who want a simple and effective repository of data on European fund passporting regulations," Attilio Veneziano, founder at Veneziano & Partners, said.

”We have drawn on the deep reservoir of regulatory intelligence in the market and have tailored it to a specific audience of fund managers. Digital repositories on European Fund Distribution rules were affordable to few so far. We have changed that,” he said.