LV= completes transition of asset management services to BlackRock

Written by Adam Cadle

23/04/2024

LV= has completed its transition of asset management services to BlackRock.

Last year, following a competitive tender process, BlackRock was announced as LV’s new primary asset manager. BlackRock has now taken responsibility for the tactical asset allocation and active portfolio management of LV= Smoothed Managed Funds (SMF) as well as all other with-profits business.

The transition to BlackRock is part of a wider business strategy to broaden LV’s distribution and investment capability, aligning with LV’s ambition to deliver enhanced value for its members.

LV= has also reviewed the strategic asset allocation of the SMF range, leveraging BlackRock’s investment insights to continue to build active and more resilient portfolios.

LV= CEO, David Hynam, said: “Completing our transition to BlackRock is an important milestone for LV=. As the largest asset manager in the world, BlackRock’s innovative approach to investing will ensure good value for our members and customers. Our new strategic asset allocation has been developed by our in-house investment team in partnership with BlackRock and will provide growth opportunities for us.

“The transition forms a series of developments made over the last year, as we continue to evolve and enhance our SMF product range. Our unique smoothing mechanism is designed to provide steady long-term growth while significantly reducing stock market volatility. Whilst retaining our active management approach, these changes to our investment strategy will help us maintain good value in line with our commitment to help people live financially confident lives.”

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