This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+cover+small+180914
Categories:Investments

LV= agrees to outsource assets to Threadneedle

  • Print
  • Comment

LV= Asset Management has finalised the deal to outsource the management of the firm’s £8.5bn of assets and transfer the existing external funds to Threadneedle.

LV=Asset Management says that it expects some redundancies from the deal, which was announced last month.

Under the agreement, the main funds will remain in their current structure when they transfer to Threadneedle and will stay segregated. Staff employed within LV=’s Asset Management business will transfer to Threadneedle. The transfer is expected to take place on October 31, 2011.

LV= group CEO Mike Rogers says: “The outsourcing of the management of LV=’s assets represents another step in our plan to ensure our structure continues to provide best value for our members.”

The board has concluded that member interests are best served by focusing day-to-day operations on the general insurance and life businesses.

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick



Poll

Have you heard of cases of advised sales being disguised as execution-only?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments