The largest master trusts in the market continue to grow at an exponential pace with L&G today confirming its flagship trust now has more than £12bn assets under management.
This makes it the largest commercial master trust on the market. The multi-employer trust now runs the pensions for more than 180 employers and has around 1.2m members according to the latest data from L&G.
It was the first multi-employer scheme to hit the market in 2011 following the introduction of auto-enrolment.
The rate of growth of many of these master trusts has been significant. In 2015 this L&G master trust have just £1.6bn AUM.
LGIM head of defined contribution Emma Douglas says: “Thanks to its scale, the Mastertrust is an attractive proposition for members, offering more sophisticated asset allocation and improved governance, at a low cost.”
She added that the L&G Mastertrust remains central to the company’s future strategy as it continues to harness the power of technology to further innovate in the post-retirement sector.
L&G Mastertrust independent chair Dermot Courtier adds: “We are thrilled that the L&G Mastertrust has reached this important milestone.
“The regulatory climate and investment backdrop continues to present challenges for employers and master trusts are growing in popularity as they offer flexibility, cost efficiency and robust governance.”