F&C Multi Manager Team add Legg Mason Opportunity Trust

F&C's Multi Manager Team have recently established positions in the Legg Mason Opportunity Trust across their Lifestyle fund range and the F&C Multi Manager Balanced and F&C Multi Manager Growth Funds.

The fund, run by highly regarded fund managers Bill Miller and Samantha McLemore, will join the Robeco US Premium Equities Fund and the SPDR SP 500 ETF (an exchange traded fund tracking the performance of the S&P 500) within the US equity portion of the portfolios.

Fund manager Paul Carne commented: "The managers' value orientated investment style has proved itself capable of delivering impressive returns over the long term. Bill and Samantha adopt a more conviction-based approach with fewer stocks and a meaningful allocation to small and medium sized companies. We believe it ideally complements our existing US positions and will prove to be a positive contributor from here."

The purchase was funded by reducing the allocation to ETFs and the Team added 3% across each of the F&C Lifestyle portfolios (Balanced, Growth, Cautious and Defensive), in addition to 3% in the F&C Multi Manager Balanced and 4% in the F&C Multi Manager Growth Funds.