LV European Ex-UK Growth Fund Adds Sterling Hedged Share Class
Released on: September 07, 2010, 3:52 am
LV= Asset Management (LVAM), the fund management arm of
insurance, investment and pensions group LV=, is enhancing its LV=
European ex-UK Growth Fund with the addition of a Sterling hedged share
class, in response to growing demand from institutional and
The new Institutional Income GBP Hedged Share Class is a further designation of the
Institutional Income Share Class launched last month. It allows clients to mitigate
currency risk on their investments but also to express any strong currency views by
providing for free switching between hedged and unhedged share classes without
having to realise the investment or incur any capital gains tax liability.
Julian Thomas, Head of Product Development and Management, LVAM, commented: "LV= European ex-UK Growth Fund has achieved a remarkable track
record of consistent performance for its clients over a number of years. In order to
widen its appeal to investors, the Sterling hedged share class aims to reduce the
underlying currency risk of the portfolio's assets by hedging currencies to which
the portfolio has material exposure.
"We believe this gives LVAM a competitive advantage by offering a product that few
others do, allowing a greater number of potential clients to access the Fund’s
Matthew Wright, Head of Sales, LVAM, said: "We know that there is demand for this
type of product from clients and indeed, we already have strong pipeline interest
ahead of bringing it to market. This is further evidence that LVAM is prepared to
extend the investment options of an impressively performing fund to meet client
LV= European ex-UK Growth Fund was launched in 2003 and is managed jointly by Mark
Page, Richard Falle and Laurent Millet. Last month it secured an OBSR 'A' rating
and it carries an 'AA' rating from Standard & Poor’s. It is the only fund to have
outperformed both the benchmark index and IMA Europe sector average in every year
- Ends -
Notes to editors:
*Source: Lipper Hindsight bid to bid UK Net of Tax in Sterling, Retail Shares versus
FTSE World Europe ex-UK Index and IMA Europe ex-UK.
- The minimum initial investment into LV= European ex-UK Growth Fund Institutional
Income GBP Hedged Class is £500,000.
- The AMC is the same as the current Institutional share classes: 0.55%. The TER is
estimated at launch to be 0.79%, 0.15% higher than the other Institutional share
classes, reflecting the costs associated with providing the hedge. All charges are
taken from income, rather than capital given the primary objective of the fund is
LV= is a registered trademark of Liverpool Victoria Friendly Society Limited (LVFS)
and a trading style of the Liverpool Victoria group of companies.
LV= offer a range of insurance products including home contents insurance,
car breakdown cover, life insurance, pet insurance and over 50 life insurance .
LV= employs around 4,000 people, serves over 3.8m customers and members, and manages
around £9.5bn (as at 30 June 2010) on their behalf, via LV= Asset Management (LVAM).
We are also the UK’s largest friendly society and a leading mutual financial
LVFS is authorised and regulated by the Financial Services Authority, register
number 110035. LVFS is a member of the ABI, the AFM and ILAG. Registered address:
County Gates, Bournemouth BH1 2NF.
For further information please contact:
Media Relations Manager
LV= Asset Management
69 Park Lane
020 7634 4291
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