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OPTO Sessions Justin Onuekwusi’s multi-asset fund optimism

As head of retail multi-asset management at Legal & General Investment Management (LGIM), Justin Onuekwusi plays a lead role in strategic allocation.

Legal & General Group is one of the world’s biggest and most successful insurers and asset managers, with over £1trn in assets under management. Onuekwusi leverages his cross-asset expertise to understand what it is that investors should want from their portfolios.

Onuekwusi developed his knowledge and understanding of managing portfolios during previous roles at Aon, Merrill Lynch and Aviva Investors. It is this in-depth understanding and expertise that gives him optimism about the future of multi-asset mutual funds. He also doesn’t see the rise of passive investments as a concern. It’s cost-effective strategies such as these that attracted him to LGIM in the first place.

 

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“What you’re seeing in the managed multi-asset funds space is that more and more managers are actually invested in index funds,” Onuekwusi tells Opto Sessions. “You’re seeing costs start to come down.”

Onuekwusi recalls that it was only 10 or 15 years ago that multi-manager strategies saw managers being picked from across the board and the world.

“But now, the managers that are doing very well, including ourselves, use predominantly index funds in their portfolios. That brings down the overall costs, which still means you can be active in terms of asset allocation, which is the key driver of risk and, therefore, return in a multi-asset portfolio”

 

“But now, the managers that are doing very well, including ourselves, use predominantly index funds in their portfolios,” Onuekwusi explains. “That brings down the overall costs, which still means you can be active in terms of asset allocation, which is the key driver of risk and, therefore, return in a multi-asset portfolio.”

 

To hear more from Onuekwusi, including how he uses his expertise to understand what investors want and the details of his investment philosophy, listen to the full episode on Opto Sessions.

 

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