We’re appointing BlackRock as our new primary asset manager

We’re delighted to announce our plans to appoint BlackRock as our new primary asset manager (subject to regulatory process).

This partnership will enable LV= members, customers and advisers to benefit from the deep investment expertise across BlackRock. It will help us to deliver good outcomes for our existing customers as well as develop future growth opportunities, building on the success of our Smoothed Managed Fund (SMF) range.

BlackRock is the largest asset manager in the world with unparalleled investment capabilities. Combined with their industry leading technology and risk management, BlackRock offers an innovative approach to asset management. BlackRock and LV= have many shared values, alongside a clear commitment to help people live confident lives. 

This move follows a thorough, comprehensive and strictly governed tender process and is part of a wider strategy to advance LV’s investment management capabilities and strengthen future performance prospects for members.  

Your questions answered

Why have you chosen to change primary asset manager?

This is part of a wider strategy to advance our investment management capabilities and enhance future performance prospects for members. As part of our ongoing governance requirements, we carry out a regular strategic review of our asset manager partner to ensure good future value for our members as investors. This honours our commitment to provide access to an asset manager that delivers performance and value aligned to our objectives.

What is changing?

BlackRock is the largest asset manager in the world with unparalleled investment capabilities. We are excited to closely partner with BlackRock and start leveraging their market insights, investment ideas and asset capabilities to benefit our members.

As part of our full due diligence process, we considered factors such as investment capability, fees and charges, quality of services, governance and oversight, value for money, past performance and transparency. We also considered the cultural fit with the LV= business and values as well as the sustainability of the funds over the long term.

When are these changes happening?

The transition period will be carefully phased over the next 12 months and further information will be provided as it progresses.

Is there any impact to my mutual bonus or the price of my funds?

No, the mutual bonus allocated to eligible with-profits members will continue to operate as it does today and the price of your funds will remain at its current level. This transition will enable us to drive future value for our with-profit members.