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...XTX, one of the world’s biggest proprietary trading and market-making groups, had sought to use Aviva Investors’ and L&G Investment Management’s money-market funds to invest some of its own cash....
Britain’s biggest asset manager buys $250mn of bonds in a sign of growing investor interest in debt-for-nature swaps
...Simões, who joined the business from Santander, replaced Sir Nigel Wilson, L&G’s chief of more than a decade....
...Z.d.G....
...L&G declined to comment....
...The company’s Ageing Population and Healthcare Innovation ETFs have also fallen out of favour, alongside the L&G Cyber Security Ucits ETF....
...L&G sells these to defined benefit pension schemes, capping their risks. A record £25bn have already occurred this year. L&G expects to transact about £11bn itself....
...L&G’s retail business was also “bolstered” by rising individual annuity sales....
...L&G dominates bulk UK annuities market with about a quarter of the market. Specialists Pensions Insurance Corporation and Rothesay have a fifth each....
...L&G said that it had written £13.4bn of pension transfer business globally so far this year....
...Its share price and that of bigger rival L&G have snaked sideways for more than a year. Just trades at a 60 per cent discount to book value. Its life insurance peers are closer to parity....
...A serial non-executive director at Tesco and formerly at L&G and the foreign office, Platt joins the new chief executive officer Dan Olley as he attempts to turn the fortunes of Britain’s largest funds supermarket...
...“Higher interest rates are benefiting L&G’s large pension business, and Aviva’s ongoing transformation is reaping rewards,” she said, noting its diversification into wealth management....
Plus, UK banks, Sainsbury’s, Currys, US incomes, L&G, Threads, VW
...“We are expecting a similar number of large transactions to close in the second half of the year,” L&G said....
...A spluttering economy raises concerns over credit quality across L&G’s huge bond portfolio....
...AI funds to consider include Polar Capital Artificial Intelligence, Sanlam Global Artificial Intelligence and L&G Artificial Intelligence ETF....
...L&G: Shares in the UK-based insurer slipped 4 per cent despite strong annuity sales after it posted a first-half operating profit of £941mn, down 2 per cent year on year....
...“F.E.E.L.I.N.G.C.A.L.L.E.D.L.O.V.E” and “Sorted for E’s & Wizz” were ticked off like rites of passage from someone moving from Sheffield outsider to Britpop in-crowd....
...L&G’s shares fell more than 2 per cent following the news, against a broadly flat FTSE 100 index....
...L&G’s latest Rebuilding Britain Index has found that attempts to “level up” UK regions are failing or stalling and that, in many cases, inequalities have widened....
...Alex Gerko’s lawsuit against Aviva and L&G is often interpreted as the story of a wealthy Russian battling corporate compliance (“Gerko’s XTX sues wealth managers for alleged racial discrimination”, Report...
...L&G said on Wednesday that it had taken in £575mn of new business premiums in individual annuities so far this year, up 27 per cent on last year....
...The L&G chief described the UK as a “low-productivity, low-growth, low-wage economy fraught by political infighting and that has to change.”...
...G chair....
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