TIDMLGEN
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 GBP1 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 +1 312 964 3034
Alyssa Manning Investor Relations Manager +44 (0)20 3124
2047
Media:
John Godfrey Corporate Affairs Director +44 (0)20 3124 2090
Graeme Wilson Tulchan Communications +44 (0)20 7353 4200
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 GBP983 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 GBP58bn 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 GBP983bn 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 GBP2.9bn 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.
1 PPF
2 DC Market Intelligence: 2017
3 Pridham Report press release 3 February 2017
4 IPE "The Top 400 Asset Managers 2018"
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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