The Morning Briefing: LV=’s ‘cavalier’ attitude; Tavistock’s takeover woes
By Katey Pigden 8
th April 2021 9:05 am
Good morning and welcome to your Morning Briefing for Thursday, 8 April, 2021. To get this in your inbox every morning click here.
Cavalier attitude
Mutual insurer LV= has been accused of showing a “cavalier attitude” by looking to sell itself to private equity investor Bain Capital for £530m.
A group of cross-party MPs slammed LV= for disregarding the interests of its members.
MP Gareth Thomas says: “It is perverse that at a time when mutuality is growing in other parts of the world that this course is being chosen by the UK’s second largest mutual insurer.”
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Premier Miton
Premier Miton took in £193m in net inflows in the first quarter of 2021 (the second quarter of its own financial year) as investor appetite for UK equity strategies returned.
The inflows helped drive its assets up to £12.6bn as at 31 March, a 12% increase from the £12bn closing AUM at the end of December.
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The latest three-month period marks the second quarter of positive net flows, with inflows over the last six months totalling £359m.