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Legal & General’s award winning UK Alpha Fund wins its first institutional client

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Legal & General UK Alpha Trust, which is managed by Richard Penny (pictured), and which has won the Money Observer Best UK Growth Fund for the last two years, has been awarded its first Institutional mandate.

VINCI PLC, a UK subsidiary of VINCI SA, the French industrial company member of the CAC 40 and the FTSE Eurotop 100 Indices, has through its defined benefit pension scheme invested GBP10m in the fund.

Penny says: “I am absolutely delighted that VINCI PLC has decided to make this investment into the Trust. We have a proven track record of top decile performance in the UK All companies sector on an annualised basis over 1, 3 and 5 years, and consequently the fund has been attracting inflows from retail clients for some time now. It is very exciting that this consistent performance is now gaining recognition among institutional clients and I am hopeful that this mandate will be the first of many.”

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