Vinci UK is the first institutional client of Legal and General’s UK Alpha Trust fund.†
The construction firm has invested £10 million in the fund through its defined benefit (DB) pension scheme. The fund invests in a portfolio of UK equities from larger organisations, as well as small to medium organisations.
Alec Comba, finance director at Vinci, said: “We were impressed by the trust’s innovative approach and track record.
“We were looking for a different approach to managing equities and believe the trust has given us that opportunity.”
Richard Penny, manager of the UK Alpha Trust, added: “I am absolutely delighted that Vinci has decided to make this investment into the trust.
“We have a proven track record in the UK. The fund has been attracting inflows from retail clients for some time now. It is very exciting that this consistent performance is now gaining recognition among institutional clients and I am hopeful that this mandate will be the first of many.”
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