LGIMA launches US index fund business

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Chicago-based Legal & General Investment Managers America (LGIMA) has announced the launch of its US index fund management business.

“We expect the movement from traditional active management to index and alternative beta strategies will continue to accelerate, driven by the investor’s increasing appetite for transparency and lower cost implementation,” said Chad Rakvin, head of US index funds.

“There is an uptick in demand for these strategies in a solutions backdrop. Our core offerings of active fixed income, liability driven investing, and index management provide the perfect platform for delivering sophisticated solutions to institutional investors,” he added.

The new unit builds on the capabilities and management strategies already provided for the US pension and institutional markets while expanding on its core fixed-income and liability-driven offerings.

The company recently assumed $60 billion in pension assets from UK-based LGIM – more than doubling its assets under management – and added two members to the index fund

team. L

GIM’s Drew Miyawaki, head of Global Equity Trading, and Aodhagán Byrne, Index Portfolio manager, have joined Chad Rakvin, head of US Index Funds, and Shaun Murphy, director Index Funds, to lead the initiative.

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