Press releases

Legal & General Workplace Savings nominated replacement product provider for Threadneedle retail DC pension portfolio.

Helen Buchanan - Legal & General's Distribution Director - Workplace Savings
Helen Buchanan
Legal & General's
Distribution Director
Workplace Savings

14 June 2011

Helen Buchanan - Legal & General's Distribution Director - Workplace Savings
Helen Buchanan
Legal & General's
Distribution Director
Workplace Savings

Legal & General’s Distribution Director Workplace Savings, Helen Buchanan, commented: “We are naturally delighted to be given the opportunity to support Threadneedle as nominated replacement product provider for its group pension scheme portfolio and individual pension business. It is particularly pleasing that our ability to develop tailored solutions on our WorkSave platform, that can closely match clients’ requirements, has been selected as the solution for Threadneedle’s retail pension clients. I am confident that our skills and expertise will deliver the high standard of member benefits and top quality service that is expected.”

Madeline Forrester, Head of Global Institutional Business for Threadneedle, said: “Developments in the market have meant that large specialists, such as Legal & General, are best equipped to provide clients with the highest level of member benefits and services. Threadneedle will focus on continuing to provide outstanding investment performance for clients, and will work with leading product providers such as Legal & General Workplace Savings to ensure clients receive best in class investment performance. For example, Legal & General has chosen to add several of Threadneedle’s funds to their platform, ensuring clients have access to Threadneedle’s track record of outperformance.”

“We are pleased to be working with Legal & General Workplace Savings to provide alternative pension arrangements for our clients, and we look forward to working together.”

Threadneedle Investments logo

Trustees and pension scheme sponsors who are clients of Threadneedle’s full service defined contribution pension products, together with their benefit consultants, are currently being notified of the new arrangements. Individual clients will receive notification of how the changes will impact them in June. Clients who accept Legal & General as their replacement provider will begin the transfer to WorkSave pensions during Q3 2011 and the whole process is expected to be complete by early 2012. Threadneedle is committed to the DC market and will continue to offer its investment only products to trustees and plan sponsors.

Legal & General Workplace savings was awarded Group SIPP Provider of the year, 2010, in the Pension & Investment Provider Awards.

Notes to editors

The Legal & General Group, established in 1836, is one of the UK’s leading financial services companies. As at 31 December 2010, we were responsible for investing £365 billion worldwide on behalf of investors, policyholders and shareholders. We also had over seven million customers in the UK for our life assurance, pensions, investments and general insurance plans.

Threadneedle is a leading international investment manager with a strong track record of outperformance across asset classes. We actively manage £66.6bn* (as at 31st March 2011) of assets, investing on behalf of individuals, pension funds, insurers and corporations. We are a top 10 UK fund manager by AUM, and the 4th largest UK retail fund manager1. In Europe we rank in the top 402. Established in 1994 in London, Threadneedle operates in 15 countries across Europe, the Middle East, Asia Pacific and North America.

Threadneedle's distinctive investment approach is based on creative thinking, sharing of ideas and rigorous debate. Our 120 investment professionals are all based in London and invest across developed and emerging market equities, fixed income, commodities and UK property. As at 31 March 2011, 78% of Threadneedle funds outperformed over 1 year, 84% over 3 years and 87% over 5 years.3

Threadneedle is owned by Ameriprise Financial (NYSE: AMP), a leading US diversified financial services company with over US$693bn in owned, managed and administered assets. As its international investment platform, Threadneedle provides Ameriprise and its retail and institutional clients with world class investment solutions.

1 UK IMA rankings, March 2011, see
2 Morningstar March 2011
3 All funds managed by Threadneedle, including segregated accounts/portfolios. The data does not include funds sub-advised by third parties or guest funds on a Threadneedle platform. All figures are as at 31 March 2011, in GBP unless stated otherwise. Total value of funds outperforming their relevant benchmark expressed as a percentage of total assets under management. This information aims to demonstrate the overall performance capabilities of Threadneedle’s asset management team. It is not intended to indicate the performance of individual funds or products. Please refer to product specific documentation in relation to individual funds. Past performance is not a guide to future performance.

The value of investments and any income is not guaranteed and can go down as well as up.

Issued jointly by:

  1. Legal & General Group PLC.
  2. Threadneedle Pensions Limited.

For more information please contact

Mike Connolly
PR Manager Wealth Management
t: 01737 375 365
m: 07802 503 917
f: 01737 374 275

About Legal & General

Legal & General Group Plc.

Registered Office: 
One Coleman Street 

Registered in England. Registered Number: 1417162.

Legal & General Group Plc is a holding company, subsidiary undertakings of which are fully authorised as appropriate under the Financial Services and Markets Act in respect of their investment activities in the UK.

© Legal & General Group Plc 2011

About Threadneedle Pensions

Threadneedle Pensions Limited.

Registered address:
60 St Mary Axe

Registered in England and Wales 984167.

Authorised and regulated in the UK by the Financial Services Authority.