L&G sets Lifetime Advantage Funds as new default strategy for contract-based DC clients

Legal & General (‘L&G’) has announced that it will introduce its Lifetime Advantage Funds as the new core default strategy for contract-based DC clients from the beginning of 2025. Launched in July 2024, the Lifetime Advantage Funds are a ‘to and through’ target date fund range, offering members extended access to a diverse selection of growth assets, including a range of private market assets. Members will have exposure to 100% growth assets up until 15 years before retirement, including a 15% allocation to the L&G Private Markets Access Fund, with its direct exposure to assets such as affordable housing, university spinouts, and renewable infrastructure.