LV= to outsource asset management
LV= has entered into exclusive talks with Threadneedle Investments with a view to outsourcing the management of its assets and Threadneedle taking over its existing external funds.
Discussions will take place over the next few weeks and a final decision on the proposal is expected in early August.
According to LV=, Threadneedle is an international investment manager with a strong track record of outperformance across asset classes.
As the UK’s fourth-largest UK retail fund manager, it manages £66.6 billion, investing on behalf of individuals, pension funds, insurers and corporations.
LV= chief executive officer, Mike Rogers, comments: “LV= has undergone a significant turnaround since 2007 and this is part of us ensuring our structure offers best value for our members.”
He adds: “The LV= board is considering outsourcing asset management to enable it to focus on its fast expanding core trading lines within general insurance, protection and retirement solutions, as well as ensuring good investment returns for our with-profits members.”
Earlier this month, LV= launched a £4 million TV advertising campaign, the largest the mutual has ever undertaken.
Category: Financials, Insurance News, LV= News
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