Legg Mason Australia has reduced the minimum investment amount to $30,000 for five of its funds, opening the offering to retail and SMSF investors.
The decision to reduce the minimum amount for Australian Real Income, Australian Equity Income, Australian Small Companies, Australia Bond and Diversified was in response to increased interest from advisers and retail investors looking to invest directly.
The lower minimums will also make the five funds more accessible to the expanding SMSF market. Initially the minimum amounts were set at $200,000 to suit wholesale investors and platforms.
“We have reduced our minimums in order to make our investment capabilities more accessible to a growing segment of the market, and to continue to meet the changing needs of clients and how they want to invest with us,” said head of Legg Mason Australia, Annalisa Clark.
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