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SAUL hires new LDI manager

18 September 2012

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The University of London Superannuation fund (SAUL) has appointed Legal & General Investment Management (LGIM) as its liability driven investment (LDI) manager, extending its 10-year relationship with the firm.

SAUL first awarded LGIM with an index mandate in April 2001. Since then, this relationship has grown to include active global credit and most recently, LDI solutions.

At the end of June 2012, LDI solutions accounted for £170bn of LGIM's business.

Penny Green, SAUL's chief executive, managing director said: "When we were considering the best partner for us in the implementation of our LDI strategy, the long-standing relationship with LGIM, and the consistently high quality of all aspects of their service delivery to us were key factors in our decision to appoint them. While 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."


First published 18.09.2012