Legal & General Group has agreed the sale of a book of retail investments from its personal investing business to Fidelity International.
The back-book is comprised of roughly 300,000 customers and contains £5.8bn assets under management held in legacy ISA, junior ISA and general investment account products, invested in Legal & General Investment Management (LGIM) funds. On transfer to Fidelity, any customers affected will remain invested in LGIM funds and the firm will continue to earn an investment fee. L&G described the sale as offering customers "the best of Fidelity International's large-scale administration and the LGIM investment expertise that they chose". The sale will not impact LGIM's intermediary retail b...
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