14 Aug 2008 07:00
| Press Release | 14 August 2008 |
Lighthouse Group plc
("Lighthouse" or "the Group")
New LV= Asset Management funds to join LighthouseCapital programme
Lighthouse Group plc (AIM: LGT), one of the UK's largest Independent Financial Advice and Wealth Management groups, today announces that LV= Asset Management ("LVAM"), the fund management arm of mutual insurance and investment group LV=, is joining the LighthouseCapital programme.
LighthouseCapital was launched to give Lighthouse Group and its advisers an end-to-end investment process and greater influence over funds under advice.
The investment process determines a client's attitude to risk and provides appropriate asset allocations which are then populated by a range of unfettered fund of funds or discretionary portfolios offered by participating investment houses including, as from today, LVAM. This provides the client with an investment experience that is aligned to their appetite for risk and investment objectives.
As part of the continuing development and expansion of the LighthouseCapital programme, LVAM has today launched four new OEIC sub-funds, managed by LVAM's Multi Manager & Fund Selection Team. Lighthouse will offer these funds through LighthouseCapital as an additional choice to those already available. .
Allan Rosengren, Joint Chief Executive of Lighthouse Group, said: "We have been at the forefront of developing a robust end-to-end investment process. We look forward to working with LVAM in the launch of these new funds as a further development of this programme. For Lighthouse, increased recurring revenues add greatly to our visibility of future earnings and the inherent value of the Group."
- Ends -
For further information, please contact:
| Lighthouse Group plc | |
| Allan Rosengren, Joint Chief Executive | Tel: +44 (0) 117 933 0777 |
| allan.rosengren@lighthousegroup.plc.uk | |
| Dan Jordan, Director - Fund of Funds | Tel: +44 (0) 7971 191 817 |
| dan.jordan@lighthousegroup.plc.uk | |
| Andy Gadd, Head of Research | Tel: +44 (0) 7971 198 110 |
| andrew.gadd@lighthousegroup.plc.uk | www.lighthousegroup.plc.uk |
| Shore Capital and Corporate Limited | Tel: +44 (0) 20 7408 4090 |
| (Nominated Adviser to the Company) | |
| Dru Danford | |
| Stephane Auton |
Media enquiries:
| Abchurch Communications | Tel: +44 (0) 20 7398 7700 |
| Heather Salmond | Tel: +44 (0) 20 7398 7704 |
| heather.salmond@abchurch-group.com | |
| Gareth Mead | Tel: +44 (0) 20 7398 7710 |
| gareth.mead@abchurch-group.com | www.abchurch-group.com |
| LV= | |
| Ed Forbes | Tel: +44 (0) 1202 503485 |
| edgar.forbes@lv.com | www.lv.com |
Notes to Editors
About Lighthouse Group plc
Lighthouse Group is the largest autonomous provider of independent financial advice, wealth management and distribution of retail financial products in the UK, with in excess of £8 billion of funds under advice. The Group is cash generative, profitable and paid a maiden dividend in 2008.
Lighthouse Group provides support to approximately 900 IFAs across the UK who, in turn, provide fully independent financial planning advice to both private and corporate clients via its operating divisions including LighthouseCarrwood, LighthouseTemple, Falcon Group, LighthouseXpress, FSAS and City Pensions.
Based in major operational centres across Britain, the Group has grown through both organic growth and key strategic acquisitions since being admitted to AIM in October 2000.
About LVAM
LV= Asset Management is a wholly-owned subsidiary of Liverpool Victoria Friendly Society Limited, better known as LV=, the largest friendly society in the UK.
LVAM manages around £8 billion of assets on behalf of LV= and a range of partner organisations.
LV= is a trademark of Liverpool Victoria Friendly Society Limited (LVFS) and LV= is a trading style of the Liverpool Victoria group of companies. The new LV= brand identity was launched in March 2007.
LV= employs over 2,000 people and serves more than 2.5 million customers and members. We are also the UK's largest friendly society (Association of Friendly Societies Year Book 2006/2007, Total Net Assets) and a leading mutual financial services provider.