Legg Mason eyes SMSF market
Legg Mason has reduced its minimum initial investment amount on several funds in a bid to target SMSFs.
The fund manager announced this week it has reduced its minimum initial investment amount to $30,000 for Australian Real Income, Australian Equity Income, Australian Small Companies, Australian Bond and Diversified.
“The minimum amounts have been reduced in response to increased interest from advisers and retail investors seeking to invest in Legg Mason funds directly,” the announcement stated.
“The lower minimums are also designed to make Legg Mason funds more accessible to the growing SMSF market.”
The minimum investment amounts were previously $200,000 to suit wholesale investors and platforms, Legg Mason said.
“We have reduced our minimums in order to make our investment capabilities more accessible to a growing segment of the market, and to continue to meet the changing needs of clients and how they want to invest with us,” said head of Legg Mason Australia Annalisa Clark.