LV= completes its transition to BlackRock as primary asset manager

Investment, protection and retirement specialist LV= has completed its transition of asset management services to BlackRock.

Last year, following a competitive and robust tender process, BlackRock was announced as LV’s new primary asset manager.

This milestone means 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 vast breadth of BlackRock’s fund choices, investment knowledge and industry leading technology will help further enhance LV’s offering to members, customers and advisers.

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 our members. In addition to the launch of new digital services, and access to SMF through the ‘on-platform’ LV= Platform Services option, these initiatives will enable more financial advisers to easily combine SMF with existing adviser portfolios.

The diversity of BlackRock’s platform across asset classes, investment styles and regions, positions it to help members navigate through market cycles and deliver whole-portfolio solutions to meet LV’s member's evolving needs. 

With over 500 dedicated sustainable products, BlackRock provides a wide range of building blocks for members’ investments. 

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. The in-house investment team will continue to set the investment strategy, where active management continues to be the dominant investment philosophy, with the support of BlackRock to build on the success of Smoothed Managed Funds. 

LV= Chief Executive 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.”

BlackRock Head of UK, Sarah Melvin, said:

“We are delighted to have completed our integration of LV= assets and embarked on the next stage of our relationship with LV=. 

“LV= is a strong British brand with an incredible success story and the sophistication of its in-house investment team, focus on member benefits and uniqueness of the Smoothed Managed Funds makes for an exciting proposition. We look forward to working closely together with the team and their adviser community to deliver enhanced value to its members.”  

To mark the launch of BlackRock as LV’s new primary asset manager there will be a nationwide series of events for advisers from 14th May to 27th June. The series will explore how regulatory change and behavioural insights are creating the need for a more human approach to financial planning in retirement and help advisers deliver a calmer and more composed journey for their clients.

 

Notes to editors:

Advisers can register for the roadshow events.

 

For further information please contact:

Contact the press office
07867 141547

About LV=

LV= is one of the leading life and pensions mutual insurers, serving over one million members and customers across the UK. As an investment, protection, in-house advice and retirement specialist, LV= offers a range of products, services and advice to help members and customers protect their income while they’re working and maximise it when they stop. 

With effect from 18 December 2023 (the “Substitution Date”), LV Bonds plc, a wholly-owned subsidiary of Liverpool Victoria Financial Services Limited was substituted in place of Liverpool Victoria Financial Services Limited as the principal debtor in respect of the GBP 350,000,000 6.50 per cent. Fixed Rate Reset Subordinated Notes callable 2023 due 2043 (ISIN: XS0935312057).

LV= and Liverpool Victoria are registered trademarks of Liverpool Victoria Financial Services Limited and trading styles of the LV= Group of Companies. Liverpool Victoria Financial Services Limited, registered in England with registration number 12383237 is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, register number 110035. Registered address: County Gates, Bournemouth, BH1 2NF. LV Bonds plc, registered in England with registration number 15058232 and registered address: County Gates, Bournemouth, BH1 2NF.