CHICAGO, Feb. 25, 2015 /PRNewswire/ -- Legal & General Investment Management America, Inc. (LGIMA), a Chicago-based registered investment advisor, known for providing investment grade credit and LDI solutions to the defined benefit market, is expanding its offerings and distribution channels. As part of a broader strategic growth plan, LGIMA officially launched its US index business late last year and is expanding its active fixed income offerings to include unconstrained bond and global high yield for the US institutional market.
LGIMA took over the management of $60 billion in North American index assets in the fourth quarter of 2014. Chad Rakvin, Head of US Index Funds, said: "We are very excited about the work that we have done to create a truly competitive index offering for the US marketplace. We are able to leverage the strength and size of our UK affiliate, which is the fourth largest index manager in the world, as we enter the US index market. We believe that we have created a truly differentiated product that focuses on governance and transparency; areas that have received increased attention over the past few years from regulators, consultants and the investing community. We are in a unique position to launch a product set that leverages a global index model, tackles industry concerns and also provides investors with the value they rightfully deserve."
Over the last two years LGIMA has been building a high yield team and track record and will continue to build the team in 2015. Tom Huggins, Senior High Yield Portfolio Manager, said, "We are pleased with the product that we have built and the results which the team has produced. We are excited to expand our offering to the US institutional market." Additionally, LGIMA has been building a track record for its unconstrained bond strategy and is now offering these strategies to the US market. Tom Meyers, Senior Client Portfolio Manager and Head of Distribution, said, "We have seen increased client demand for these products and now is the right time to extend these offerings to the US market."
To date, the majority of LGIMA's US client base is comprised of corporate plans. With the expansion of product offerings, LGIMA will extend distribution of its products to the public, Taft-Hartley and foundation/endowment segments of the institutional market. To assist in this effort, LGIMA has hired Mark Toomey, Senior Client Portfolio Manager. Mark joins from Henderson Capital where he was Head of North American Institutional. Mark reports directly to Tom Meyers, Senior Client Portfolio Manager and Head of Distribution. Tom Meyers said, "We are excited to have Mark and his expertise here to lead the initiative to help us reach these new markets."
For more information, please visit http://www.lgima.com/.
Media Contact:
Name: Jacquelyn Wilder
Company: RF Binder
Email: [email protected]
Tel: 212 994 7543
Notes to editors: Legal & General Investment Management America, Inc. (LGIMA) is a Chicago-based registered investment advisor specializing in fixed income and liability driven investment (LDI) strategies for the US institutional market. LGIMA was founded in 2006 as a wholly-owned subsidiary of Legal & General Investment Management (Holdings) Ltd., which also owns its affiliates Legal & General Investment Management Ltd. and LGIM International Ltd. Legal & General's worldwide assets under management are approximately $770 billion. In May 2014, LGIMA became a wholly owned subsidiary of Legal & General Investment Management US (Holdings) (LGIMUS(H)).
SOURCE Legal & General Investment Management America, Inc.
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