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    <title>Asset management update | LV= Adviser</title>
    <meta name="description" content="We are delighted to announce our intent to appoint BlackRock as our new strategic asset manager for the investment management of our Smoothed Managed Funds and legacy back book." />
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            <meta property="og:description" content="We are delighted to announce our intent to appoint Schroders as our new strategic asset manager for the investment management of our Smoothed Managed Funds and legacy back book " />
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href="/guaranteed-income-solutions/fixed-term-investment/guaranteed-income-drawdown" target="_self" class="" title="Guaranteed Income Drawdown" role="menuitem"><span>Guaranteed Income Drawdown</span></a></li></ul></li></ul></div></li></ul></div></li><li class="has-sub"><a href="/personal-protection" target="_self" class="" title="Protection" role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Protection</span><span class="icon-arrow"></span></a><div class="subnav level1"><ul><li class=""><a class="has-sub " role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Personal Protection</span><span class="icon-arrow"></span></a><div class="subnav level2"><ul><li><h3 class="section-heading">Products</h3><ul class="children"><li><a href="/personal-protection" target="_self" class="" title="Personal Protection" role="menuitem"><span>Personal Protection</span></a></li><li><a href="/personal-protection/income-protection" target="_self" class="" title="Income Protection" role="menuitem"><span>Income Protection</span></a></li><li><a href="/personal-protection/life-and-critical-illness" target="_self" class="" title="Life and Critical Illness" role="menuitem"><span>Life and Critical Illness</span></a></li><li><a href="/personal-protection/life-protection" target="_self" class="" title="Life Protection" role="menuitem"><span>Life Protection</span></a></li><li><a href="/personal-protection/personal-sick-pay" target="_self" class="" title="Personal Sick Pay" role="menuitem"><span>Personal Sick Pay</span></a></li><li><a href="/personal-protection/family-income-benefit" target="_self" class="" title="Family Income Benefit" role="menuitem"><span>Family Income Benefit</span></a></li><li><a href="/personal-protection/gift-inter-vivos" target="_self" class="" title="Gift Inter Vivos" role="menuitem"><span>Gift Inter Vivos</span></a></li></ul></li><li><h3 class="section-heading">More</h3><ul class="children"><li><a href="/personal-protection/flexible-protection-plan" target="_self" class="" title="Flexible Protection Plan" role="menuitem"><span>Flexible Protection Plan</span></a></li><li><a href="/personal-protection/income-protection-solutions" target="_self" class="" title="Income Protection Solutions" role="menuitem"><span>Income Protection Solutions</span></a></li><li><a href="https://www.lvadviser.com/service/launchers/adviser/executelauncher?launcher=fpp-quote-multi" target="_blank" class="" title="Quote &amp; apply" role="menuitem"><span>Quote &amp; apply</span></a></li><li><a href="https://www.lvadviser.com/service/launchers/adviser/executelauncher?launcher=protection-progress-hub" target="_blank" class="" title="Protection Progress Hub" role="menuitem"><span>Protection Progress Hub</span></a></li><li><a href="/online-services/fastway/pre-uw-tool" target="_self" class="" title="Pre-underwriting tool" role="menuitem"><span>Pre-underwriting tool</span></a></li><li><a href="/online-services/personal-protection-tools-and-calculators" target="_self" class="" title="Tools &amp; calculators" role="menuitem"><span>Tools &amp; calculators</span></a></li><li><a href="/personal-protection/why-income-protection" target="_self" class="" title="Why Income Protection" role="menuitem"><span>Why Income Protection</span></a></li></ul></li></ul></div></li><li class=""><a class="has-sub " role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Business Protection</span><span class="icon-arrow"></span></a><div class="subnav level2"><ul><li><h3 class="section-heading">Products</h3><ul class="children"><li><a href="/business-protection" target="_self" class="" title="Business Protection" role="menuitem"><span>Business Protection</span></a></li><li><a href="/business-protection/relevant-life-cover" target="_self" class="" title="Relevant Life Cover" role="menuitem"><span>Relevant Life Cover</span></a></li><li><a href="/business-protection/key-person-cover" target="_self" class="" title="Key Person Cover" role="menuitem"><span>Key Person Cover</span></a></li><li><a href="/business-protection/share-and-partnership-protection" target="_self" class="" title="Share &amp; Partnership Protection" role="menuitem"><span>Share &amp; Partnership Protection</span></a></li><li><a href="/business-protection/executive-income-protection" target="_self" class="" title="Executive Income Protection" role="menuitem"><span>Executive Income Protection</span></a></li></ul></li><li><h3 class="section-heading">More</h3><ul class="children"><li><a href="https://www.lvadviser.com/service/launchers/adviser/executelauncher?launcher=fpp-quote-multi" target="_blank" class="" title="Quote &amp; apply" role="menuitem"><span>Quote &amp; apply</span></a></li><li><a href="/online-services/business-protection-tools-and-calculators" target="_self" class="" title="Tools &amp; calculators" role="menuitem"><span>Tools &amp; calculators</span></a></li><li><a href="/business-protection/trusts" target="_self" class="" title="Business Protection &amp; Trusts" role="menuitem"><span>Business Protection &amp; Trusts</span></a></li><li><a href="/business-protection/tax-treatment" target="_self" class="" title="Tax treatment" role="menuitem"><span>Tax treatment</span></a></li><li><a href="/business-protection/business-protection-guide" target="_self" class="" title="Guide to Business Protection" role="menuitem"><span>Guide to Business Protection</span></a></li></ul></li></ul></div></li></ul></div></li><li class="has-sub"><a href="/equity-release" target="_self" class="" title="Equity Release" role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Equity Release</span><span class="icon-arrow"></span></a><div class="subnav level1"><ul><li class=""><a class="has-sub " role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Products</span><span class="icon-arrow"></span></a><div class="subnav level2"><ul><li><h3 class="section-heading">Products</h3><ul class="children"><li><a href="/equity-release" target="_self" class="" title="Equity Release" role="menuitem"><span>Equity Release</span></a></li><li><a href="/equity-release/lifetime-mortgage-lump-sum" target="_self" class="" title="Lifetime Mortgage Lump Sum Plus" role="menuitem"><span>Lifetime Mortgage Lump Sum Plus</span></a></li><li><a href="/equity-release/lifetime-mortgage-drawdown" target="_self" class="" title="Lifetime Mortgage Drawdown Plus" role="menuitem"><span>Lifetime Mortgage Drawdown Plus</span></a></li><li><a href="/equity-release/lifetime-mortgage-lump-sum-lifestyle" target="_self" class="" title="Lifetime Mortgage Lump Sum Lifestyle" role="menuitem"><span>Lifetime Mortgage Lump Sum Lifestyle</span></a></li><li><a href="/equity-release/lifetime-mortgage-drawdown-lifestyle" target="_self" class="" title="Lifetime Mortgage Drawdown Lifestyle" role="menuitem"><span>Lifetime Mortgage Drawdown Lifestyle</span></a></li></ul></li><li><h3 class="section-heading">More</h3><ul class="children"><li><a href="/contact-us/equity-release" target="_self" class="" title="Contact us" role="menuitem"><span>Contact us</span></a></li></ul></li></ul></div></li><li class=""><a class="has-sub " role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Resources</span><span class="icon-arrow"></span></a><div class="subnav level2"><ul><li><h3 class="section-heading">Resources</h3><ul class="children"><li><a href="/online-services/equity-release-portal" target="_self" class="" title="Equity Release Portal" role="menuitem"><span>Equity Release Portal</span></a></li><li><a href="/online-services/equity-release-portal/faqs" target="_self" class="" title="Equity Release Portal FAQs" role="menuitem"><span>Equity Release Portal FAQs</span></a></li><li><a href="/equity-release/adviser-marketing-hub" target="_self" class="" title="Adviser Marketing Hub" role="menuitem"><span>Adviser Marketing Hub</span></a></li><li><a href="/knowledge-centre/video-and-webinar-library/equity-release" target="_self" class="" title="Equity Release videos and webinars" role="menuitem"><span>Equity Release videos and webinars</span></a></li><li><a href="/equity-release/early-repayment-calculator" target="_self" class="" title="Lifetime Mortgage Early Repayment Calculator" role="menuitem"><span>Lifetime Mortgage Early Repayment Calculator</span></a></li><li><a href="/equity-release/lifetime-mortgages-updates" target="_self" class="" title="Lifetime mortgages updates" role="menuitem"><span>Lifetime mortgages updates</span></a></li><li><a href="/equity-release/equity-release-council" target="_self" class="" title="Equity Release Council" role="menuitem"><span>Equity Release Council</span></a></li></ul></li><li><h3 class="section-heading">Supporting your client</h3><ul class="children"><li><a href="/supporting-your-client/care-navigator" target="_self" class="" title="Care navigator" role="menuitem"><span>Care navigator</span></a></li><li><a href="/supporting-your-client/doctors-services" target="_self" class="" title="LV= Doctor Services" role="menuitem"><span>LV= Doctor Services</span></a></li></ul></li></ul></div></li></ul></div></li><li class="has-sub"><a href="/supporting-you" target="_self" class="" title="Support" role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Support</span><span class="icon-arrow"></span></a><div class="subnav level1"><ul><li class=""><a class="has-sub " role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Knowledge centre</span><span class="icon-arrow"></span></a><div class="subnav level2"><ul><li><h3 class="section-heading">More</h3><ul class="children"><li><a href="/knowledge-centre" target="_self" class="" title="Knowledge centre" role="menuitem"><span>Knowledge centre</span></a></li><li><a href="/knowledge-centre/video-and-webinar-library" target="_self" class="" title="Video and webinar library" role="menuitem"><span>Video and webinar library</span></a></li><li><a href="/knowledge-centre/protection-webinar-calendar" target="_self" class="" title="Protection webinar calendar" role="menuitem"><span>Protection webinar calendar</span></a></li><li><a href="/knowledge-centre/news-hub" target="_self" class="" title="News hub" role="menuitem"><span>News hub</span></a></li><li><a href="/knowledge-centre/article-library" target="_self" class="" title="Article library" role="menuitem"><span>Article library</span></a></li><li><a href="/knowledge-centre/fuel-for-life" target="_self" class="" title="Fuel for Life" role="menuitem"><span>Fuel for Life</span></a></li><li><a href="/knowledge-centre/reaching-resilience" target="_self" class="" title="Reaching Resilience" role="menuitem"><span>Reaching Resilience</span></a></li><li><a href="/knowledge-centre/technical-hub" target="_self" class="" title="Technical Hub" role="menuitem"><span>Technical Hub</span></a></li><li><a href="/pensions/tax-year-end" target="_self" class="" title="Tax year end" role="menuitem"><span>Tax year end</span></a></li></ul></li></ul></div></li><li class=""><a class="has-sub " role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Claims</span><span class="icon-arrow"></span></a><div class="subnav level2"><ul><li><h3 class="section-heading">More</h3><ul class="children"><li><a href="/supporting-you/claims" target="_self" class="" title="Claims" role="menuitem"><span>Claims</span></a></li><li><a href="/supporting-you/claims/our-claims-approach" target="_self" class="" title="Our approach to claims" role="menuitem"><span>Our approach to claims</span></a></li><li><a href="/supporting-you/claims/real-stories" target="_self" class="" title="Real stories" role="menuitem"><span>Real stories</span><span class="new">New</span></a></li></ul></li></ul></div></li><li class=""><a class="has-sub " role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Protection underwriting</span><span class="icon-arrow"></span></a><div class="subnav level2"><ul><li><h3 class="section-heading">More</h3><ul class="children"><li><a href="/supporting-you/protection-underwriting" target="_self" class="" title="Protection underwriting" role="menuitem"><span>Protection underwriting</span></a></li><li><a href="/supporting-you/protection-underwriting/misrepresentation" target="_self" class="" title="Underwriting misrepresentation" role="menuitem"><span>Underwriting misrepresentation</span></a></li></ul></li></ul></div></li><li class=""><a class="has-sub " role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Trusts</span><span class="icon-arrow"></span></a><div class="subnav level2"><ul><li><h3 class="section-heading">More</h3><ul class="children"><li><a href="/supporting-you/trusts" target="_self" class="" title="Trusts" role="menuitem"><span>Trusts</span></a></li><li><a href="/supporting-you/trusts/types-of-trust" target="_self" class="" title="Types of trusts" role="menuitem"><span>Types of trusts</span></a></li><li><a href="/supporting-you/trusts/trs" target="_self" class="" title="Trust Registration Service - FAQs" role="menuitem"><span>Trust Registration Service - FAQs</span></a></li></ul></li></ul></div></li><li class=""><a href="/supporting-you/protection-large-case-team" target="_self" class=" " title="Protection large case team" role="menuitem"><span>Protection large case team</span></a></li><li class=""><a href="/supporting-you/vulnerable-customers" target="_self" class=" " title="Vulnerable customers" role="menuitem"><span>Vulnerable customers</span></a></li><li class=""><a href="/supporting-you/suitability-letter-builder" target="_self" class=" " title="Suitability letter builder" role="menuitem"><span>Suitability letter builder</span></a></li><li class=""><a class="has-sub " role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Portals and integration</span><span class="icon-arrow"></span></a><div class="subnav level2"><ul><li><h3 class="section-heading">Overview</h3><ul class="children"><li><a href="/adviser-portal" target="_self" class="" title="Savings and Retirement Adviser Portal" role="menuitem"><span>Savings and Retirement Adviser Portal</span></a></li><li><a href="/online-services" target="_self" class="" title="Online services" role="menuitem"><span>Online services</span></a></li><li><a href="/online-services/portals" target="_self" class="" title="Third party portals" role="menuitem"><span>Third party portals</span></a></li><li><a href="/online-services/integration" target="_self" class="" title="Back office integration" role="menuitem"><span>Back office integration</span><span class="new">New</span></a></li></ul></li></ul></div></li><li class=""><a href="/supporting-you/setting-up-an-agency" target="_self" class=" " title="Setting up an Agency" role="menuitem"><span>Setting up an Agency</span></a></li><li class=""><a href="/supporting-you/lv-news" target="_self" class=" " title="Our future plans" role="menuitem"><span>LV= news</span></a></li><li class=""><a class="has-sub " role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Consumer Duty</span><span class="icon-arrow"></span></a><div class="subnav level2"><ul><li><h3 class="section-heading">More</h3><ul class="children"><li><a href="/supporting-you/consumer-duty-hub" target="_self" class="" title="Consumer Duty" role="menuitem"><span>Consumer Duty</span></a></li><li><a href="/supporting-you/consumer-duty-hub/protection" target="_self" class="" title="Protection" role="menuitem"><span>Protection</span></a></li><li><a href="/supporting-you/consumer-duty-hub/savings-and-retirement" target="_self" class="" title="Savings and Retirement" role="menuitem"><span>Savings and Retirement</span></a></li><li><a href="/supporting-you/consumer-duty-hub/equity-release" target="_self" class="" title="Equity Release" role="menuitem"><span>Equity Release</span></a></li></ul></li></ul></div></li><li class=""><a href="/supporting-your-client/why-lv" target="_self" class="has-sub " title="Why LV=" role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Why LV=</span><span class="icon-arrow"></span></a><div class="subnav level2"><ul><li><h3 class="section-heading">More</h3><ul class="children"><li><a href="/supporting-your-client/why-lv" target="_self" class="" title="Why LV=" role="menuitem"><span>Why LV=</span></a></li><li><a href="/supporting-your-client/why-lv/mutual-bonus" target="_self" class="" title="Mutual bonus" role="menuitem"><span>Mutual bonus</span></a></li><li><a href="/supporting-your-client/why-lv/lv-difference" target="_self" class="" title="Exit bonus" role="menuitem"><span>One-off bonus</span></a></li><li><a href="/supporting-your-client/why-lv/our-awards" target="_self" class="" title="Our awards" role="menuitem"><span>Our awards</span></a></li></ul></li></ul></div></li><li class=""><a href="/supporting-your-client/member-benefits" target="_self" class="has-sub " title="Member benefits" role="menuitem" aria-expanded="false" aria-haspopup="true"><span>Member benefits</span><span class="icon-arrow"></span></a><div class="subnav level2"><ul><li><h3 class="section-heading">More</h3><ul class="children"><li><a href="/supporting-your-client/member-benefits" target="_self" class="" title="Member benefits" role="menuitem"><span>Member benefits</span></a></li><li><a href="/supporting-your-client/member-benefits/legal-advice" target="_self" class="" title="Legal Advice Line" role="menuitem"><span>Legal Advice Line</span></a></li><li><a href="/supporting-your-client/doctors-services" target="_self" class="" title="LV= Doctor Services" role="menuitem"><span>LV= Doctor Services</span></a></li><li><a href="/supporting-your-client/care-navigator" target="_self" class="" title="Care navigator" role="menuitem"><span>Care navigator</span></a></li></ul></li></ul></div></li></ul></div></li><li class="doc-library"><a href="/document-library" 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        <div id="f62d6ed4-7135-49fe-af86-90b274aeac39"><link rel="preload" as="image" href="/-/life/media/athena/images/knowledge-centre/blackrock-logo-v2.png"/><div id="36c446d4-7aa1-4c19-9323-ccca3e795d54" class="intro-Text-container "><div class="main-container-fullbleed"><div class="grid intro-image image-left"><div class="img-align order2"><div><img src="/-/life/media/athena/images/knowledge-centre/blackrock-logo-v2.png" alt="Blackrock logo"/></div></div><div class="order1 grid-flex"><h2 class="title left">Asset management update</h2></div><div class="grid content-body order3"><span class="rte description left"><p><span>We&rsquo;re delighted to announce that we completed the transfer of assets in June 2024, and BlackRock is now the primary asset management partner for the investment management of our Smoothed Managed Funds and legacy back book.</span></p>
<p><span>Since April 2023, our in-house team of experts and select specialist third-party advisers worked alongside the outgoing and incoming asset managers to deliver a smooth transition of assets for LV= members.</span></p></span></div></div></div></div></div>
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        <div id="91134ce3-aa25-4ca2-999a-20eac30a4fd5"><link rel="preload" as="image" href="/-/life/media/athena/images/contact/katherine-carnegie-377x377.png"/><div id="0b0553c0-1253-4a19-8a70-7aa92d4f1bbd" class="intro-Text-container "><div class="main-container-fullbleed"><div class="grid intro-image image-right"><div class="img-align order2"><div><img src="/-/life/media/athena/images/contact/katherine-carnegie-377x377.png" alt="Katherine Carnegie"/></div></div><div class="order1 grid-flex"><h2 class="title left">April 2023 - Why BlackRock?</h2></div><div class="grid content-body order3"><span class="rte description left"><p>In April 2023, we announced our decision to appoint BlackRock as our new primary asset management partner.</p>
<p>Read a statement from Katherine Carnegie, our Chief Commercial Officer, on why we selected BlackRock.&nbsp;</p>
<p><strong>Katherine Carnegie | Chief Commercial Officer, LV=</strong></p></span></div></div></div></div></div>
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        <div id="efdcc296-84a3-467e-afed-ff6710138f44"><div id="dc46860b-f96f-4a68-a1c9-1a8c6351ccba" class="accordian-container"><div class="inner-container "><div class="main-content"></div><div class="accordian-content"><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">Read the full message from April 2023</h2></div></div></div></div></div></div>
<script>LVSiteConfigs.components.data.push({"name":"accordian","reactName":"Athena.accordian","id":"efdcc296-84a3-467e-afed-ff6710138f44","type":"dynamic","props":{"Id":{"Guid":"dc46860b-f96f-4a68-a1c9-1a8c6351ccba"},"titleHeading":null,"description":"","flowTitle":{"label":"","type":""},"layout":"","closeLabel":"","accordionItems":[{"head":{"label":"Read the full message from April 2023","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"0fd880cd-8f30-44db-a68b-66a04f984ea5","type":"static","props":{"Id":null,"titleHeading":null,"description":"<p>Hello,&nbsp;</p>\n<p>I am delighted to announce LV&rsquo;s plans to appoint BlackRock as our new primary asset manager for the investment management of our Smoothed Managed Funds and legacy back book.&nbsp;</p>\n<p>BlackRock is a leading and trusted global asset manager, with a strong purpose and culture aligned to ours. We share a clear commitment to help UK savers live confident lives. With a 50-year presence in the UK and &pound;750bn of assets managed on behalf of UK clients, and experience delivering for mutual insurance companies like LV=, BlackRock is well-placed to support our success. They have strong investment performance and risk management across an unparalleled breadth and depth of world class investment capabilities.<br />\n<br />\nLV&rsquo;s funds that will move to BlackRock are currently managed by Columbia Threadneedle Investments. LV= has had a successful partnership with Columbia Threadneedle Investments who has supported our corporate strategy and delivered for LV= members and customers over the last 12 years, and I would like to thank Columbia Threadneedle Investments for their support and good service.</p>\n<p>But now we must look to the future.&nbsp;</p>\n<p>Our Smoothed Managed Fund range has gained popularity through its ability to reduce the impact of short-term market volatility and deliver attractive investment returns. It now forms the majority of LV&rsquo;s With-Profits funds under management.&nbsp;</p>\n<p>This partnership will enable us to benefit from the deep investment expertise across BlackRock, supporting LV&rsquo;s goal to deliver good outcomes for existing members and customers, developing future growth opportunities and building on the success of the Smoothed Managed Fund range.&nbsp;</p>\n<p>This decision follows a thorough, comprehensive and strictly governed tender, and is subject to regulatory process. Whilst we&rsquo;re changing the asset manager, LV= remains responsible for all strategic asset allocations and high level investment decisions. There are no changes to the objectives or the risk profiles of the funds and the past performance track record will continue. There will be no changes to LV&rsquo;s unique smoothing mechanism, which remains the most robust smoothing mechanism in the market, having successfully cushioned customers&rsquo; investments from short term market volatility since the funds&rsquo; inception in 2005.&nbsp;</p>\n<p>The transition will be carefully phased over the next 12 months by the LV= Investment Oversight Group in conjunction with specialist external investment consultants. We will work very closely with BlackRock and start leveraging their market insights, investment ideas and asset strategies. Within our investment range, we expect to see the impact of their investment strategies within the first three months, and more detailed information will follow as we continue through the phases of our transition.</p>\n<p>We&rsquo;re really excited to invite BlackRock to bring their expertise to LV= to enhance our investment management franchise and strengthen future performance prospects for members and customers.</p>","image":null,"layout":"","background":null,"disableBottomSpace":false}}}]}});</script>
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        <div id="e308a4d4-4236-43ea-9483-449ee8e360cf"><div id="bd4cccdf-88cd-4564-915f-14611aa64afd" class="component-separator  "><div class="separator solid"></div></div></div>
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    <div class="react-component accordian" data-name="accordian" data-id="5b006179-2d6e-4ea3-a5b8-ca529eafe64c">
        <div id="5b006179-2d6e-4ea3-a5b8-ca529eafe64c"><div id="38006148-e233-4abe-aed9-87e532617edb" class="accordian-container"><div class="inner-container center"><div class="main-content"><h2 class="title h2-regular">Your questions answered</h2><span class="rte body-copy">Here you can keep up to date, and find everything you need to know about our new primary asset management partnership and what it means for your clients.</span></div><div class="accordian-content"><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">What has changed?</h2></div></div><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">Who is impacted by the changes?</h2></div></div><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">Why did you change asset manager?</h2></div></div><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">How often do you conduct a strategic review of your asset manager?</h2></div></div><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">What factors did you consider when selecting BlackRock?</h2></div></div><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">Was there any change to the investment strategy or risk profile of the funds?</h2></div></div><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">What changes were made?</h2></div></div><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">Why did you choose to change asset manager now?</h2></div></div><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">Were any changes made to the smoothing mechanism applied to the Smoothed Managed Funds?</h2></div></div><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">Were there any changes to the price of the funds?</h2></div></div><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">Does this change affect your mutual bonus structure and eligibility?</h2></div></div><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">Did you need the approval of your members to make this change?</h2></div></div><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">How can LV= members have confidence that this change was in their best interests?</h2></div></div><div class="accordian-item closed " role="button" tabindex="0" aria-expanded="false"><div class="item-title icon-title closed"><h2 class="title item-title">Who are BlackRock?</h2></div></div></div></div></div></div>
<script>LVSiteConfigs.components.data.push({"name":"accordian","reactName":"Athena.accordian","id":"5b006179-2d6e-4ea3-a5b8-ca529eafe64c","type":"dynamic","props":{"Id":{"Guid":"38006148-e233-4abe-aed9-87e532617edb"},"titleHeading":{"label":"Your questions answered","type":""},"description":"Here you can keep up to date, and find everything you need to know about our new primary asset management partnership and what it means for your clients.","flowTitle":{"label":"","type":""},"layout":"center","closeLabel":"","accordionItems":[{"head":{"label":"What has changed?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"6b12f4e2-74da-48a8-a229-c65110f52b25","type":"static","props":{"Id":null,"titleHeading":null,"description":"<p>In April 2023, LV= made the decision to change our primary asset manager after a thorough, comprehensive and strictly governed strategic review and retender process.&nbsp;</p>\n<p>Whilst we've changed the asset manager that manages the underlying assets, control of the strategic asset allocations for the funds remains with LV=. This ensures that the funds continue to invest in line with our commitment to our members and customers.&nbsp;</p>\n<p>The majority of assets are held in multi-asset portfolios mandated by LV=. We ensure that both the portfolios and component funds are being managed in line with their mandates and in each case, monitor their investment performance.</p>\n<p>Our other asset manager relationships are unchanged and unaffected by this process.</p>\n<div>&nbsp;</div>","image":null,"layout":"left","background":null,"disableBottomSpace":false}}},{"head":{"label":"Who is impacted by the changes?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"40742561-c716-458b-9024-e9eced976291","type":"static","props":{"Id":null,"titleHeading":null,"description":"This change impacts underlying investments in our Smoothed Managed Fund range including the closed series of the Flexible Guarantee Bond and Flexible Guarantee Funds as well as investments in our legacy with-profits and unit-linked products.","image":null,"layout":"left","background":null,"disableBottomSpace":false}}},{"head":{"label":"Why did you change asset manager?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"af79e258-3f3b-4bf3-95a2-494d8d492e98","type":"static","props":{"Id":null,"titleHeading":null,"description":"This is part of a wider strategy to advance LV&rsquo;s investment management capabilities and enhance future performance prospects for members and customers. 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 and customers as investors. This honours our commitment to provide access to an asset manager that delivers performance and value aligned to our objectives.","image":null,"layout":"left","background":null,"disableBottomSpace":false}}},{"head":{"label":"How often do you conduct a strategic review of your asset manager?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"0dca3598-0ec9-4f5b-813c-d53fa987eee6","type":"static","props":{"Id":null,"titleHeading":null,"description":"We complete a review of our asset manager on a regular basis and via continual monitoring to ensure their performance and value remains aligned to our objectives and reflects good future value for our members and customers as investors.&nbsp;&nbsp;","image":null,"layout":"left","background":null,"disableBottomSpace":false}}},{"head":{"label":"What factors did you consider when selecting BlackRock?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"6b4482a0-ba3d-4c81-bdb1-ae19ecc64936","type":"static","props":{"Id":null,"titleHeading":null,"description":"As part of our full retender and due diligence process, we considered factors such as investment capability, fees and charges, ESG and responsible investing credentials, operational enhancements, 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.","image":null,"layout":"left","background":null,"disableBottomSpace":false}}},{"head":{"label":"Was there any change to the investment strategy or risk profile of the funds?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"fdf830c8-f35e-4e0d-9ca3-d9549f2b5b87","type":"static","props":{"Id":null,"titleHeading":null,"description":"<p>The decision to change asset manager for the funds does not reflect an intention to change the current objectives or nature of any of the funds. As part of our continued strong governance processes surrounding the funds, we complete a review of the SAA for the funds on at least an annual basis in order to provide the best opportunities for growth and resilience within risk appetites. We remain committed to active asset management.</p>\n<p>While BlackRock are amongst the largest providers of index funds and strategies, they are a leader in active management and we will retain our active focus to deliver performance that seeks to outperform our benchmarks.&nbsp;</p>","image":null,"layout":"left","background":null,"disableBottomSpace":false}}},{"head":{"label":"What changes were made?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"9c926e1a-d9e4-42c1-9466-27f56c4497ea","type":"static","props":{"Id":null,"titleHeading":null,"description":"<p>Between April 2023 and June2024, our in-house team of experts and select specialist third-party advisers worked alongside the outgoing and incoming asset managers to deliver a smooth transition of assets for LV= members.&nbsp;</p>\n<p>BlackRock is now the primary asset management partner for the investment management of our Smoothed Managed Funds and legacy back book.</p>","image":null,"layout":"left","background":null,"disableBottomSpace":false}}},{"head":{"label":"Why did you choose to change asset manager now?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"ce77141f-0db0-43f4-a81d-0226e385818b","type":"static","props":{"Id":null,"titleHeading":null,"description":"Our investment governance process includes a regular strategic review of our asset partners and the changes announced are the outcome of a thorough and comprehensive retender and strictly governed due diligence process.","image":null,"layout":"left","background":null,"disableBottomSpace":false}}},{"head":{"label":"Were any changes made to the smoothing mechanism applied to the Smoothed Managed Funds?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"4808ac1e-234d-40f4-be5c-b151ae3c45d3","type":"static","props":{"Id":null,"titleHeading":null,"description":"No changes were made to our smoothing mechanism which remains the most robust smoothing mechanism in the market.","image":null,"layout":"left","background":null,"disableBottomSpace":false}}},{"head":{"label":"Were there any changes to the price of the funds?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"0916916f-2c37-43ac-9cc4-36ef3e4cce66","type":"static","props":{"Id":null,"titleHeading":null,"description":"In July 2024 we announced a re-price of our Smoothed Managed Funds range. This transition is already enabling us to drive value for our with profits policyholders.","image":null,"layout":"left","background":null,"disableBottomSpace":false}}},{"head":{"label":"Does this change affect your mutual bonus structure and eligibility?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"7efd40d9-9f8f-461d-9c9b-4e2496c75eb8","type":"static","props":{"Id":null,"titleHeading":null,"description":"No, the mutual bonus allocated to eligible with-profits members continues to operate as it does today.","image":null,"layout":"left","background":null,"disableBottomSpace":false}}},{"head":{"label":"Did you need the approval of your members to make this change?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"d7513a3d-b5de-4927-a8a8-b5641d7094ea","type":"static","props":{"Id":null,"titleHeading":null,"description":"No, because this change doesn't impact the nature of the funds and how they are invested.","image":null,"layout":"left","background":null,"disableBottomSpace":false}}},{"head":{"label":"How can LV= members have confidence that this change was in their best interests?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"4e755c7e-b3a4-4b91-aeb6-69118c3d0767","type":"static","props":{"Id":null,"titleHeading":null,"description":"The retender process was carried out under the direct oversight of the Investment Committee who approved the assessment criteria that was developed to select a future asset manager. This process was designed to protect the interests of our members and customers and maintain value for money. Additionally, we have set clear performance standards and targets which the new asset manager is required to meet.","image":null,"layout":"left","background":null,"disableBottomSpace":false}}},{"head":{"label":"Who are BlackRock?","type":""},"content":{"name":"featureDetails","reactName":"Athena.featureDetails","id":"de10733a-bb70-491d-a97e-4658662039c0","type":"static","props":{"Id":null,"titleHeading":null,"description":"<p>BlackRock is one of the world&rsquo;s largest asset managers with $10trn of assets managed globally (source: BlackRock as at Jan 2024). As a leading provider of investment, advisory and risk management solutions, and with experience delivering for mutual companies like LV=, BlackRock is well-placed to support our success.&nbsp;</p>\n<p>The diversity of BlackRock&rsquo;s platform across asset classes, investment styles and regions, positions them to partner with LV= through market cycles and deliver whole-portfolio solutions to meet our member's evolving needs.&nbsp;</p>","image":null,"layout":"left","background":null,"disableBottomSpace":false}}}]}});</script>
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