Legg Mason fund added to Hub24

The Legg Mason Martin Currie Equity Income Strategy aims to provide a high growth and well diversified income stream, according to a statement.

The fund also seeks to achieve inflation protection from increasing dividends and tax effectiveness through maximising franking benefits.

Legg Mason managing director for Australia and New Zealand Andy Sowerby said the fund is based on the Legg Mason Martin Currie Equity Income Trust launched in 2010.

“Hub24 is a fast-growing platform driven by its flexible technology and we are delighted to be bringing our best in class strategies to their investment platform to help meet their clients’ demand,” Mr Sowerby said.

Martin Currie Australia chief investment officer Reece Birtles said the fund was developed to address retiree longevity risk and help avoid the need to draw down on capital through retirement.

“We believe that a well-diversified portfolio of quality companies that can grow their dividends best meets this objective, without the need for costly protective overlays which can potentially impact returns and duplicate the diversification benefits from other asset classes,” Mr Birtles said.