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The LV= Diversified Income fund is a lower risk multi-asset class vehicle, aiming to provide an attractive level of income with above-inflation capital growth over a typical three-year market cycle.

The fund has an income target of 4 per cent gross per annum at launch and an expected TER of around 1.8 per cent per annum.

The portfolio will be invested across a range of 10 sub-asset classes ranging from cash to fixed income, equities and commercial property.

It will be managed by Tom Caddick who together with Simon Brooks form LVAM's Multi Manager & Fund Selection Team, which is responsible for a further 6 retail funds.

Caddick has asset allocation flexibility to achieve its investment targets and protect investors during adverse market conditions, however each of the 10 sub-asset classes will be represented within the portfolio at all times.

The fund will be available both direct and as a pension fund variant via the LV= Retirement Solutions platform. It is anticipated that it will sit within the IMA‘s Cautious Managed sector.