LGIM purchases stake in DC platform Smart Pension

Legal & General Investment Management has purchased a stake in Smart Pension, a startup that provides auto-enrolment pensions to small businesses. The deal will see pension schemes operated through Smart Pension granted access to a range of exclusive LGIM defined contribution pension funds. Prior to the deal, Smart Pension already used LGIM funds, but a spokesperson said the deal would shore up the relationship, and offer Smart Pension access to a wider range of LGIM funds. Emma Douglas, head of LGIM’s defined contribution pensions business, will also take up a non-executive seat on the Smart Pension board. The size of the stake has not been disclosed by LGIM due to corporate policy, but will be revealed in the firm’s next results figures. Nonetheless, a source close to the matter suggested to Funds Europe it exceeded the £3 million raised in Smart Pension’s last funding round. They added there was “no suggestion” that the deal would lead to a full merger between the firms, and Smart Pension would remain a fully independent entity. ©2016 funds europe

Sponsored Profiles

SPONSORED FEATURE: Alternative thinking

Mar 16, 2017

Portfolio Manager Davide Cataldo discusses the results of the Pioneer Investments’ survey on liquid alternatives and how investors can be encouraged to increase their allocation.

SPONSORED FEATURE: Interest rate risk hedging: Swapping to other options

Mar 16, 2017

Heightened margin requirements for cleared and uncleared OTC derivatives pose a challenge for legitimate hedging activities and are driving financial institutions to explore alternative hedging...

SPONSORED FEATURE: Why blockchain could be the fund industry’s next Ford Model T

Mar 16, 2017

Blockchain aims to radically change the way investors can access funds, says Olivier Portenseigne, Managing Director and Chief Commercial Officer of Fundsquare.

SPONSORED FEATURE: Open architecture: In need of protection

Mar 16, 2017

Greater efficiency must be embraced to ensure regulatory changes do not destroy choice for fund buyers, says Bernard Tancré of Clearstream.

Executive Interviews

CEO INTERVIEW: Munro gains three-year track record

Mar 16, 2017

Aviva Investors’ annual results this month were the third set since Euan Munro took over as CEO. Nick Fitzpatrick speaks to him about the ‘Aims’ fund at the heart of the firm’s outcome strategy.

DISTRIBUTION INTERVIEW: Tales of the unexpected

Mar 16, 2017

Laurence Terryn, a fund selector at Candriam, tells David Stevenson how the twists and turns of the past year’s macro environment flavoured her approach to fund selection.

Roundtables

ASSET SERVICING ROUNDTABLE: Under pressure

Mar 07, 2017

Funds Europe speaks to leading Luxembourg industry figures about the growing regulatory demands on asset servicers and how to remain profitable in spite of major investments in technology.

SEC LENDING ROUNDTABLE: Both a borrower and a lender be

Jan 11, 2017

Industry heavyweights, including agent lenders, discuss issues affecting the securities lending sector such as regulation and the types of collateral being used.