LV= announces plans to appoint BlackRock as primary asset management partner

Written by Adam Cadle

14/04/2023

LV= has announced plans to appoint BlackRock as its new primary asset manager.

The move is part of a wider strategy to advance LV’s investment management capabilities and strengthen future performance prospects for investors.

LV’s funds have been managed by Columbia Threadneedle Investments for 12 years. The transition will be phased over the next 12 months by the LV= investment oversight group in conjunction with specialist external investment consultants.

LV= CEO David Hynam said: “BlackRock is an innovative asset manager whose substantive scale and market expertise will support our overall asset allocation. We believe this is great news for our members and existing customers.

“Our unique smoothing mechanism aims to reduce the impact of short-term market volatility, which is why Smoothed Managed Funds have gained popularity and now form the majority of LV’s With-Profits funds under management. The current range of five funds is designed for investors with a low to medium risk profile. We are excited to closely partner with BlackRock and start leveraging their market insights, investment ideas and asset capabilities to benefit our members. Within our investment strategy, we expect to see the impact of their investment expertise within the first three months. More information will follow as we continue through the phases of our transition.

“I would like to thank Columbia Threadneedle Investments for their work in managing our funds. During their time as asset manager, the SMF range has demonstrated strong long-term performance and we are grateful for the support and good service they have provided.”

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