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Catch up with the latest press releases from LV=

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LV= announces potential outsourcing of Asset Management

Press release: 08/07/2011

LV= announces that it has entered into exclusive talks with Threadneedle Investments with a view to outsourcing the management of the Society's assets and Threadneedle taking over its existing external funds.

These discussions will take place over the next few weeks with the aim of reaching a final decision on the proposal at the start of next month.

Threadneedle is a leading international investment manager with a strong track record of outperformance across asset classes. It manages £66.6bn* of assets, investing on behalf of individuals, pension funds, insurers and corporations. It is a top 10 UK fund manager by AUM, and the fourth largest UK retail fund manager.

Mike Rogers, LV= group CEO, said "LV= has undergone a significant turnaround since 2007 and this is part of us ensuring our structure offers best value for our members. 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."


LV=

LV= is a registered trademark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies.

LV= employs around 4,500 people, serves over four million customers and members, and manages around £8.0bn (as at 31 December 2010) on their behalf, via LV= Asset Management (LVAM). We are also the UK's largest friendly society and a leading mutual financial services provider.

LVFS is authorised and regulated by the Financial Services Authority, register number 110035. LVFS is a member of the ABI, the AFM and ILAG. Registered address: County Gates, Bournemouth BH1 2NF. www.LV.com.