L&G Savings Investor Day

RNS Number : 3799F

Legal & General Group Plc

23 May 2013

 



Press Release

23 May 2013

LEGAL & GENERAL SAVINGS INVESTOR DAY.

Legal & General will be presenting to the market at 11am (BST) today, 23 May 2013, on the long term strategy for our Savings division ("Savings").  Following the acquisition of Cofunds, Legal & General Savings has assets under administration (AUA) of £110bn (as at 31 March 2013).  The presentation will explain the progress Legal & General Savings is making to become a large scale, efficient and profitable asset gatherer.  Focus will be on four key asset gathering routes: Bank and Building Societies distribution, our retail funds business, workplace pensions and the Cofunds platform.

Mark Gregory, CEO for Savings Legal & General said:

"I am delighted to have the opportunity to share our long term vision for creating an asset gathering, fee business in attractive and growing markets.  Savings like the rest of Legal & General Group has positioned itself to benefit from macro themes, notably ageing populations and policy changes to encourage individuals to save more for retirement.  We have chosen our markets carefully and my aspiration is that through our four main routes we can deliver average annual compound growth in total Savings assets under administration of at 10% CAGR over the next five years.

Legal & General Savings brings together manufacturing and distribution in a vertically integrated model, providing revenue from all parts of the value chain.  It also provides a gateway to wider Legal & General Group products, such as Group Protection and Annuities.  Our aim is for Savings to grow earnings and cash for the Group and shareholders, and to make it easier for customers to access good value and high quality financial services."

-ENDS-

Enquiries:

Investors:
Kate Vennell	Head of Investor Relations	020 3124 2150
Ian Baker	Investor Relations Manager	020 3124 2047
Media:
John Godfrey	Group Communications Director	020 3124 2090
Richard King	Head of Media Relations	020 3124 2095
Michelle Clarke	Tulchan Communications	020 7353 4200
Katharine Wynne	Tulchan Communications	020 7353 4200

Notes

A copy of this announcement can be found in "Releases", under the "Financial information" section of our shareholder website at http://www.legalandgeneralgroup.com/investors/releases.cfm.

The presentation will be available from 10.30am on our website in "Presentations" under the "Financial information" section of our shareholder website at http://www.legalandgeneralgroup.com/investors/presentations.cfm.

Live Webcast available via link:

http://www.emincote.com/landg050/default.asp?Media=

Participant dial-in numbers (11am BST)

Location you are dialling in from	Number you should dial
United Kingdom	020 3059 8125
United Kingdom Toll Free	0800 368 0649
United States Toll Free	1 855 287 9927
All other locations	+ 44 20 3059 8125

 

FINANCIAL CALENDAR 2013:

	Date
Payment date of 2012 final dividend	29 May 2013
Half-year Results 2013	6 August 2013
Q3 Interim Management Statement 2013	5 November 2013

FORWARD LOOKING STATEMENTS:

This announcement may contain certain forward-looking statements relating to Legal & General, its plans and its current goals and expectations relating to future financial condition, performance and results. By their nature, forward-looking statements involve uncertainty because they relate to future events and circumstances which are beyond Legal & General's control, including, among others, UK domestic and global economic and business conditions, market related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory and Governmental authorities, the impact of competition, the timing impact of these events and other uncertainties of future acquisition or combinations within relevant industries. As a result, Legal & General's actual future condition, performance and results may differ materially from the plans, goals and expectations set out in these forward-looking statements and persons reading this announcement should not place reliance on forward-looking statements. These forward-looking statements are made only as at the date on which such statements are made and Legal & General Group Plc does not undertake to update forward-looking statements contained in this announcement or any other forward-looking statement it may make.

 

END

 

 

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