TIDMLGT
RNS Number : 0535K
Lighthouse Group PLC
16 September 2016
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014
16 September 2016
Lighthouse Group plc
("Lighthouse" or "the Group")
Launch of Luceo Asset Management Limited
Lighthouse Group plc (AIM: LGT), the national financial adviser
of choice for Middle Britain, is delighted to announce the launch
of Luceo Asset Management Limited ("Luceo"), a wholly-owned
subsidiary that will provide in-house investment solutions to the
Group's core customer base.
Luceo has been established to provide people all over the UK
with a better way to invest for their future. Luceo's investment
solutions are specifically designed to be delivered by Lighthouse
financial advisers, the preferred financial adviser for more than 6
million members of unions and affinity groups throughout the UK.
This creates a seamless way for the people of Middle Britain to
receive financial advice and have access to investment products
that are designed to suit their needs.
Luceo's initial fund range, the Luceo Investment Funds ("the
Funds"), will comprise three active multi manager funds (Luceo 4,
Luceo 5 and Luceo 6) which are designed to deliver risk-targeted
returns to investors. These funds sit within each of the three most
popular risk bands for the Group's customer base.
The Funds will be managed by Octopus Investments Limited
("Octopus"), an award-winning investment company with nearly GBP6
billion under management on behalf of more than 50,000 investors.
The multi manager team at Octopus has managed risk-targeted
portfolios since 2008 and has established an impressive track
record over that period.
The Funds will be available initially through a newly
established platform relationship with Zurich. Branded the
'Lighthouse Zurich Platform', the new service will provide advisers
and their clients with instant access to, and transparency of,
operation over this range of funds on terms bespoke to Lighthouse
and its clients. Zurich was chosen as a partner for its economic
strength, long-standing reputation in the market and commitment to
supporting the intermediary community.
The performance of the Funds will be regularly monitored and
reviewed by the Luceo investment committee. This committee is made
up of experienced investment professionals, with an independent
chairman, ensuring that the interests of customers are always at
the front of mind.
Lighthouse currently places around GBP900 million of new
investments each year on behalf of clients, a proportion of which
flows into multi-manager funds.
Malcolm Streatfield, Group Chief Executive of Lighthouse Group
plc, commented:
"We are delighted to launch Luceo Asset Management and to add
the Luceo Investment Funds to our already well established range of
financial solutions for Middle Britain. The introduction of the
Luceo Investment Funds will provide appropriate, high-quality
investment solutions to our clients, and we expect them to prove to
be very attractive to the Group's customers and advisers. We look
forward to extending the Luceo investment range further in the
future."
"We are pleased to be working in conjunction with Octopus
Investments and Zurich in launching these funds and look forward to
delivering value to our customers, advisers and other
stakeholders."
Simon Rogerson, Chief Executive of Octopus Investments Limited,
commented:
"By establishing Luceo Asset Management, and delivering
investment funds that are specifically designed for use by
Lighthouse financial advisers, Lighthouse is deepening the
relationship between financial advice and investment management,
which will deliver better outcomes for its customers."
"Lighthouse was clear about what it wanted from the investments
it recommends to its clients. Consistency, reliability, and
complete focus on delivering the outcome the customer expects. At
Octopus, we pride ourselves on managing investment products that do
what we say they will, so we were delighted to be appointed as the
investment manager of the Luceo Investment Funds."
David White, Managing Director - Retail, Zurich UK Life,
commented:
"Zurich has enjoyed a long-standing relationship with the
Lighthouse Group and we are delighted that they have selected us to
be at the heart of their new investment solution. As one of the
fastest growing investment platforms in the UK today, this latest
five year agreement reinforces our commitment to Lighthouse, the
advisory market and leading distribution groups."
For further information, please visit
www.luceoassetmanagement.co.uk or contact:
Lighthouse Group plc
Malcolm Streatfield - Tel: +44 (0) 20 7065
Chief Executive 5640
+44 (0) 7971 050500
malcolm.streatfield@lighthousegroup.plc.uk www.lighthousegroup.plc.uk
Media enquiries:
IFC Advisory Limited
Tim Metcalfe/Graham Herring/Heather Tel: +44 (0) 20 3053
Armstrong 8671
heather.armstrong@investor-focus.co.uk www.investor-focus.co.uk
finnCap Limited
(Nominated Adviser and Tel: + 44 (0) 20 7220
Broker to the Company) 0500
Adrian Hargrave / Emily
Watts
About Lighthouse Group plc
As one of the UK's largest autonomous financial advice and
wealth management groups, Lighthouse provides a comprehensive range
of services to businesses and individuals and is retained by most
of the major trades unions and other affinity groups to advise
their combined memberships of over 6 million members.
Lighthouse has been listed on AIM (LGT) since 2000 and presents
an integrated financial services company for investors, coupled
with significant scale in terms of distribution through financial
advisers and wealth managers and its fully diversified business
model.
The Group aims to increase its relationships with and the
benefits it derives from, its relationships with affinity groups
and professional partners.
Lighthouse operates from its headquarters in London as well as
having principal operating offices in Stockport and Woodingdean,
near Brighton.
For more information please visit:
http://www.lighthousegroup.plc.uk/
This information is provided by RNS
The company news service from the London Stock Exchange
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