LGIM's Black to head up UK Equity Income launch

Richard Black is to manage Legal & General Investment Management (LGIM)'s first UK equity income offering.

The group has previously said it was looking to build up an equity income offering to address an obvious gap in its product range. The new fund is expected to come to market in the second quarter. This will be Black's first fund management role - at present he is an analyst on the group's UK equities team. Black joined L&G in 2008 from Old Mutual Asset Management where he was a member of the UK equity income team.