Cheeseman buys L&G

F&C's Multi Manager Team have added L&G Managed Monthly Income to the bond portion in the F&C Lifestyle Defensive portfolio.

The move follows the Team's decision to diversify their corporate bond exposure towards the end of 2009.

Dean Cheeseman, Head of Retail Multi Management, commented "Fund manager Richard Hodges operates the fund in a relatively conservative manner and we consider it an ideal core fixed income holding, particularly its focus on high quality investment grade bonds in addition to some government bonds. As a result, we hold just over 4% of our portfolio in it."

The F&C Lifestyle funds are actively managed by F&C's Multi Manager Team based around third party risk-profiling tool Dynamic Planner, which links a client's risk profile with the appropriate balance of investments. The F&C Lifestyle Funds mirror the asset allocations of the four most common risk profiles.