LV= set to sell asset management arm
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Mutual Friendly Society Liverpool Victoria is set to sell its investment arm LV= Asset Management, according to reports.
The Financial Mail says the firm has appointed Fenchurch Advisory to handle the sale with the shortlist of buyers now down to four. The report says this includes industry consolidators and asset managers looking to establish a presence in the UK marketplace.
LV= Asset Management manages more than £8bn of assets. The firm has 21 retail funds including the £135m LV= UK equity income fund managed by Graham Ashby.
A spokeswoman for the firm says it is unable to comment on market rumours.
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