20th Jun 2018 08:03
LONDON (Alliance News) - Legal & General Group PLC on Wednesday revealed its growth plans for its asset management unit, which is anticipated to bring an 8% to 10% rise in annual operating profit for the division.
Legal & General Investment Management - which holds nearly GBP1 trillion assets under management - intends to broaden its investment capabilities, have a sustained focus on addressing the savings gap through its Defined Contribution, Retail, and Personal Investing businesses, and continue "internationalising" core strengths.
The company expects this strategy to deliver operating profit growth of between 8% to 10% per annum over the medium term, assuming normal market conditions.
"We have built a fantastic business that is well positioned for the future," said Chief Executive Mark Zinkula.
"We are building on our market leading standing in UK Defined Benefit pension solutions and achieving strong growth in Defined Contribution pensions and retail markets," added Zinkula. "We have a clear strategy to be one of the global winners in asset management by continuing to expand in the US, Europe, the Gulf and Asia."
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