LV= hands fund business to Threadneedle

Threadneedle is preparing to take on the management of LV='s retail and institutional fund range.

LV= said it is in exclusive discussions with Threadneedle to take over its existing external funds, allowing it to focus on its core life and insurance business. The talks will take place over the next few weeks with the aim of reaching a final decision on the proposal at the start of next month. LV= put its fund management arm up for sale in April, appointing Fenchurch Advisory to oversee the transaction, according to reports. LVAM manages about £8.4bn of assets for a range of clients including private investors, institutions and private client discretionary managers. The group...