L&G Mastertrust has surpassed £20bn in assets under management (AUM) and is the first commercial master trust to reach this milestone.
The L&G Mastertrust now supports 275 participating firms and is responsible for managing the retirement assets of more than 1.8 million members.
The Mastertrust’s AUM has increased by 67 per cent, the number of participating employers has increased by 53 per cent, and the number of underlying members has increased by 50 per cent just in the last two years.
Legal & General Investment Management (LGIM) co-head of defined contribution Stuart Murphy says: “We’re proud that so many clients have put their faith in us over the years by choosing to join the L&G Mastertrust. Becoming the first commercial Mastertrust to reach £20bn in AUM is a real achievement for the scheme, testament to the hard work of our investment team, the scheme’s administrators and the board of trustees, who have delivered excellent outcomes across the day-to-day running and governance of the Mastertrust.
“We believe our scale enhances our potential to offer greater financial stability, further investment in services and economies of scale which can help to deliver value for members. Looking ahead, our ambition is to continue to build on our scale, improving retirement outcomes and financial wellbeing for members, while contributing to a better future through responsible investing.”
L&G Mastertrust Board independent chair Dermot Courtier says: “This latest milestone follows significant announcements from the L&G Mastertrust Trustees in recent years, including the launch of a Member Advisory Panel, which invites a group of members to meet quarterly with Trustees and provide feedback, as well as the Mastertrust’s public Net Zero commitment. The Mastertrust Employer Group, which brings up to 100 employers together every quarter, celebrates its 10-year anniversary this year.”