On October 23, 2020, Legal & General Group plc announced it had agreed to sell a book of retail investment products to Fidelity International Ltd. from Legal & General Investment Management.

Under the terms of the agreement, Fidelity International Ltd. ("Fidelity") will purchase Legal & General Investment Management's ("LGIM") UK personal investing business. This transaction will add 300,000 clients and $7.5 billion in assets under management to Fidelity's business. Customers will remain invested in LGIM funds. Further terms of the agreement were not disclosed.

Fidelity offers investment solutions and retirement expertise to institutions, individuals and their advisers around the world. As of June 30, 2020, Fidelity was responsible for total client assets of $565.7 billion.

LGIM, based in the United Kingdom, is one of Europe's largest asset managers, offering investment solutions to a broad range of clients globally.

To read the press release: please click here.

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