LGIM CAPITAL MARKETS EVENT

RNS Number : 9231R

Legal & General Group Plc

20 June 2018

 

LEGAL & GENERAL INVESTMENT MANAGEMENT CAPITAL MARKETS EVENT

Legal & General Group Plc ("L&G") will host an event for investors and analysts on Wednesday 20 June at One Coleman Street, London, EC2R 5AA starting at 14:00 GMT. The event will provide a detailed look into Legal & General Investment Management ("LGIM"), LGIM's growth strategy and outline why LGIM is well positioned in a changing landscape to continue to deliver attractive growth and returns.

At nearly £1 trillion AUM, LGIM is one of the world's largest asset managers. In the UK, we are the market leading asset manager for Defined Benefit ("DB")1 and Defined Contribution ("DC")2 pensions. We are also top three in net flows for Retail investments in the UK3. We are replicating this success internationally and are now a leading pension solutions provider in the US.

LGIM already benefits from critical scale delivering cost efficiency and from investment capabilities that are aligned to evolving investor needs such as Environmental, Social, and Governance ("ESG") requirements. These strengths are further enhanced by the operational, financial, and cultural advantages of being part of the wider L&G Group.

The next stage of LGIM's growth is based on a focused strategy, which also forms the agenda for the event, consisting of three key components:

1.   The continued broadening of our investment capabilities to meet our clients' needs;

2.   Sustained focus on addressing the savings gap through our DC, Retail, and Personal Investing businesses; and

3.   Further internationalising our core strengths. 

This strategy is expected to deliver LGIM operating profit growth of between 8% to 10% per annum over the medium term, assuming normal market conditions.

The event will be live webcast from 14:00 GMT with replay, transcript and slides accessible afterwards on our website: www.legalandgeneralgroup.com.

Mark Zinkula, LGIM CEO, commented: 

"We have built a fantastic business that is well positioned for the future. We are building on our market leading standing in UK Defined Benefit pension solutions and achieving strong growth in Defined Contribution pensions and retail markets. We have a clear strategy to be one of the global winners in asset management by continuing to expand in the US, Europe, the Gulf and Asia."

Nigel Wilson, Group CEO, commented:

LGIM's long-term success in the UK and growing success internationally has bolstered Legal & General Group's impressive double digit operating profit growth over the past decade. The addressable market in global asset management is approximately $80 trillion4 providing a huge growth opportunity for our efficient, customer-focused and well diversified business.

Legal & General is stronger for having a market leading asset manager as part of our Group, with LGIM contributing significant synergies to LGC and LGR.

Mark has been an outstanding leader of LGIM for the past 7 years, having developed a broad franchise of growth businesses, a strong and deep leadership team and a high performing investment capability built for the markets of tomorrow."

ENDS

For further information, please contact:

Investors:

Sujee Rajah         Vice President, Group Investor Relations and Strategy               [phone]

Alyssa Manning   Investor Relations Manager                                                          [phone]

Media:

John Godfrey      Corporate Affairs Director                                                                [phone]

Graeme Wilson   Tulchan Communications                                                                [phone]

NOTES TO EDITORS:

Legal & General Investment Management

Legal & General Investment Management (LGIM) is one of the UK's largest asset managers and a major global investor, with total assets under management of £983 billion ($1,327 billion)*. We work with a wide range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.

Throughout the past 40 years we have built our business through understanding what matters most to our clients and transforming this insight into valuable, accessible investment products and solutions. We provide investment expertise across the full spectrum of asset classes including fixed income, equities, commercial property and cash. Our capabilities range from index-tracking and active strategies to liquidity management and liability-based risk management solutions.

The value of investments is not guaranteed and can fall as well as rise.

*LGIM internal data as at 31 December 2017 converted at a GDP/USD exchange rate of 1.35, including derivative positions and advisory assets. These figures include assets managed by Legal & General Investment Management America, an SEC Registered Investment Advisor.

Legal & General Group

Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with a number of growing businesses in the US. Over fifteen million people worldwide rely on us to help them save for the future and to protect their families and their homes.

We operate in three principal areas:

1.    Investing & Annuities, where we manage £58bn of retirement annuities for policyholders and invest for their long term return within Legal & General Retirement ("LGR"), as well as investing our own balance sheet within Legal & General Capital ("LGC");

2.    Investment Management, where we have £983bn in total assets under management from clients in the UK, US, Asia and EMEA and a leading UK workplace savings and retail investments business within LGIM; and

3.    Insurance, where we provide protection against life events for customers, with £2.9bn of gross written premiums principally in life insurance in the UK and US within Legal & General Insurance ("LGI") and household insurance in the UK within our General Insurance ("GI") division.

For more information on Legal & General, please see http://www.legalandgeneralgroup.com/

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.

 

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1 PPF

2 DC Market Intelligence: 2017

3 Pridham Report press release 3 February 2017

4 IPE "The Top 400 Asset Managers 2018"

 

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