SAUL (The Superannuation Arrangements of the University of London) has chosen to extend its 10-year relationship with Legal & General Investment Management (LGIM). SAUL has now appointed LGIM as its liability driven investment (LDI) manager.
SAUL first awarded LGIM with an index mandate in April 2001. Since then, this relationship has grown to also incorporate active global credit and most recently, LDI solutions, reflecting LGIM’s commitment to delivering solutions to meet the long-term needs of clients.
LGIM’s ability to offer a wide range of LDI solutions to clients of all sizes has seen this segment of its business grow to £170 billion as at the end of June 2012.
Penny Green, SAUL’s Chief Executive, Managing Director explains their decision, “When we were considering the best partner for us in the implementation of our LDI strategy, the long-standing relationship with Legal & General Investment Management, and the consistently high quality of all aspects of their service delivery to us were key factors in our decision to appoint them. Whilst we have only just commenced on this journey, the quality of support from the LGIM LDI team maintains the high standards we have come to expect.”
Mike Walsh, Head of Solutions Distribution and Management at LGIM said, “We are delighted that SAUL has decided to continue its longstanding relationship with LGIM. We focus on understanding what matters most to our clients and enjoy working with them to develop flexible solutions that meet their investment needs. Over 80% of our new business comes from existing clients and this is testament to our success in building strong partnerships with our clients. We are now looking forward to continuing to work with SAUL and their investment advisors, Redington, as they continue on their de-risking journey.”
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