Legal & General Group Plc (LON:LGEN) have announced that they 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’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 1 and Defined Contribution 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 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.
