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Legg Mason launches six funds on mFund

Global asset manager Legg Mason has made six funds available on the ASX settlement service mFund.

Legg Mason has made its multi-asset retirement income, diversified, Australian bond, small companies, equity income and real income options funds available via the mFund service.

“The initial application was made by a self-directed investor using Bell Direct’s stockbroking service to access the Legg Mason Western Asset Australian Bond Trust,” a statement from Legg Mason said.

“The mFund service allows investors to buy and sell units in managed funds through a panel of brokers, similar to the process employed in share transactions. The minimum investment into Legg Mason’s mFunds is $30,000,” it said.

Legg Mason Australia head Annalisa Clark said the successful transaction into its funds required the “seamless coordination” between two mFund founding members, and is a “testimony to the achievement” of the ASX-driven initiative.

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Bell Direct chief executive Arnie Selvarajah said it is pleased to be able to offer clients an expanded menu of services through the mFund service.

“We aim to provide a broad set of investment opportunities and mFund helps us achieve that for our investors,” Mr Selvarajah said.

In Australia, Legg Mason and its investment affiliates manage over $22 billion for both institutional and retail clients and is a founding member of the mFund service along with Bell Direct.

Legg Mason launches six funds on mFund
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