LVAM finalises outsourcing deal with Threadneedle

LV= Asset Management said it expects to see some staff redundancies as it finalises its deal to outsource the management of its funds to Threadneedle.

All the LV= funds will remain in their current structures and stay segregated when they transfer across to Threadneedle on 31 October, regardless of overlap with its own fund range, LV said. Threadneedle will then decide how the final fund offering will look, including merging away products where there are similarities. LV= said staff in its asset management business will transfer to Threadneedle, although it expects some roles will be made redundant. The final details of the deal will be completed over the coming weeks, the firm said. Mike Rogers, LV= group CEO, said: “The outsour...