Legal & General (L&G) Mastertrust has passed £20bn in assets under management (AUM), marking the first commercial master trust in the UK to reach this milestone.

The mastertrust currently supports 275 participating employers, looking after the retirement savings of over 1.8 million members, and has seen its AUM grow by 67 per cent over the past two years.

Supported by L&G Investment Management (LGIM), the mastertrust highlighted a number of priorities, including sustainable returns, flexible decumulation options, and increasing the role of private markets across its default funds to achieve greater diversification.

LGIM co-head of DC, Stuart Murphy, commented: “We’re proud that so many clients have put their faith in us over the years by choosing to join the L&G Mastertrust.

"Becoming the first commercial mastertrust to reach £20bn in AUM is a real achievement for the scheme, testament to the hard work of our investment team, the scheme’s administrators and the board of trustees, who have delivered excellent outcomes across the day-to-day running and governance of the mastertrust.

“We believe our scale enhances our potential to offer greater financial stability, further investment in services and economies of scale which can help to deliver value for members.

"Looking ahead, our ambition is to continue to build on our scale, improving retirement outcomes and financial wellbeing for members, while contributing to a better future through responsible investing.”

Adding to this, L&G Mastertrust Board independent chair, Dermot Courtier, commented: “This latest milestone follows significant announcements from the L&G Mastertrust trustees in recent years, including the launch of a Member Advisory Panel, which invites a group of members to meet quarterly with trustees and provide feedback, as well as the mastertrust’s public net-zero commitment.

"The Mastertrust Employer Group, which brings up to 100 employers together every quarter, celebrates its 10-year anniversary this year.”

Share Story: