Andy Sowerby

Legg Mason, one of the world’s largest funds management groups today announced that the Legg Mason Martin Currie Real Income Strategy is now available to all users of the FirstChoice platform, managed by Colonial First State.

Launched in 2010, the Legg Mason Martin Currie Real Income strategy invests in a blend of listed real assets across Australian REITs, utility and infrastructure securities that are listed on the Australian Stock Exchange.

The Strategy, with more than $500 million in AUM, aims to generate an income yield in excess of S&P/ASX 200 Index unfranked yield and to grow this dividend income yield in excess of the rate of inflation (as measured by the Consumer Price Index).

Legg Mason, Managing Director, Australia and New Zealand, Andy Sowerby said: “We are very pleased to see interest in this strategy from financial advisers, given that in a low growth, low interest rate world, listed real assets are becoming the missing link between equities and fixed income for the income investor.

“Colonial First State’s FirstChoice is one of the leading investment platforms in the market and the strong demand for this asset class makes it a compelling investment option for clients, especially those in the retirement phase,” said Sowerby.

Ashton Reid, Portfolio Manager added: “The benefit of real assets in any portfolio is their ability to provide natural inflation protection, so income is expected to go up, not down over time.

“At Martin Currie, our research is focussed on uncovering investments with the clearest visibility on future cashflows, and avoiding the riskier assets, and through careful stock selection and robust portfolio construction we have delivered better capital protection than the broader equity market over time.”

The fund has received independent research ratings – ‘Recommended’ – by Lonsec and Zenith.

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