L&G Talks Asset Management
L&G
What does a changing world mean for my portfolio? Which asset classes are undervalued? Will declining demographics affect my investments? From L&G’s Asset Management division, we bring you conversations about the global economy and how professional investors can take advantage of these opportunities.
We'll be talking to fund managers, analysts, industry experts and more to discuss the latest market and political developments, their most exciting asset allocation ideas and how they're optimising portfolios for market booms and economic gloom.
From Trump's tariffs to irrational investors, L&G Talks Asset Management dives into the world of asset management and brings you our most compelling thoughts to help you make informed investment decisions.
To find out more, visit https://am.landg.com/en-uk/institutional/insights/
L&G has been helping customers since 1836. A founding member of the Financial Times Stock Exchange (FTSE) 100 index, L&G is one of the UK's leading financial services companies serving UK customers for our life assurance, pensions, investments and general insurance plans.
This podcast is intended for investment professionals, and shouldn't be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in L&G investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of L&G. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management.
We'll be talking to fund managers, analysts, industry experts and more to discuss the latest market and political developments, their most exciting asset allocation ideas and how they're optimising portfolios for market booms and economic gloom.
From Trump's tariffs to irrational investors, L&G Talks Asset Management dives into the world of asset management and brings you our most compelling thoughts to help you make informed investment decisions.
To find out more, visit https://am.landg.com/en-uk/institutional/insights/
L&G has been helping customers since 1836. A founding member of the Financial Times Stock Exchange (FTSE) 100 index, L&G is one of the UK's leading financial services companies serving UK customers for our life assurance, pensions, investments and general insurance plans.
This podcast is intended for investment professionals, and shouldn't be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in L&G investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of L&G. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management.
Episodes
Mentioned books
Jul 10, 2025 • 26min
372: In conversation with... Eric Adler, CEO, Asset Management
In this special and wide-ranging episode, Eric reflects on his journey through the asset management industry and the personal values that informed his decision to join L&G. "Humility is key - and I think I learned that in my upbringing," he says. Speaking with Jo McCaffrey, Chief Strategy and Product Officer for our Asset Management business, Eric also discusses his ambitions for our business, the democratisation of private markets, our approach to market volatility and why French is his favourite language but Italian is his favourite food. This podcast was recorded on 30 June, 2025.Source for percentage of pension risk transfer deals originating from existing clients: L&G 2024 full year results. All other figures cited L&G as at 30 June 2025 unless otherwise stated.For professional investors only. Capital at risk.
Jul 4, 2025 • 42min
371: Our Midyear Global Outlook – The CIO call
We recorded this special episode to mark the publication of our midyear global outlook, which offers key views across public and private markets after a particularly eventful first six months of 2025. Topics covered include:Long-term implications from the tariffs-related volatility spikeHow our AFI team in Chicago is navigating policy uncertaintyThe approach taken by our Multi-Asset team to USD assetsThe outlook for private market assets – and their role in portfoliosAddressing concentration risk within index and ETF strategies
During the episode, Sonja Laud, our Global CIO, was joined by: Anthony Woodside, Head of Multi-Sector Fixed Income & Investment Strategy, Asset Management, AmericaChristopher Jeffery, Head of Macro StrategyDavid Barron, Global Head of Index and ETFsRob Martin, Global Head of Investment Strategy & Research, Private Markets
The speakers also offer non-consensus market views for the next six months – and share what they are planning to read and watch over the summer.
The podcast was recorded on 3 July and was moderated by Max Julius, Head of Content.
For professional investors only. Capital at risk.
Jun 25, 2025 • 21min
370: Middle East conflict, inflation and interest rates – Market Talk
Ben Bennett, Head of Investment Strategy Asia, shares his thoughts on the market impact of the Middle East conflict. Also on the agenda is possible rates divergence between the US and Europe, the shortcomings of economic data, and why GDP per capita may not tell the whole story of emerging markets.This podcast was recorded on 24 June 2025.All data is sourced from LSEG as at 24 June 2025 unless otherwise stated.For professional investors only. Capital at risk. Securities mentioned for illustrative purposes only.
Jun 19, 2025 • 17min
369: How to tackle equity market concentration risk
With market volatility front of mind in 2025, we explore equity market concentration risk and what can be done to mitigate it.Our speakers are Aude Martin, Head of Pooled Index Investment Specialists, and Andrzej Pioch, a Fund Manager specialising in multi-asset strategies in our Asset Allocation team.All data from Bloomberg as at 5 June 2025 unless otherwise stated. For professional investors only. Capital at risk. Past performance is not a guide to the future. It should be noted that diversification is no guarantee against a loss in a declining market. Securities are mentioned for illustrative purposes only. Reference to a particular security is on a historic basis and does not mean that the security is currently held or will be held within an L&G portfolio. The above information does not constitute a recommendation to buy or sell any security. Assumptions, opinions, and estimates are provided for illustrative purposes only. There is no guarantee that any forecasts made will come to pass.
Jun 12, 2025 • 9min
369: Unpacking unconstrained strategies
What does it mean when we say an active fixed income strategy is “unconstrained”? What difference does it make when a fund is not tied to a benchmark? And what is it about the present moment that could make this an attractive option for navigating market volatility?
To answer these questions and give his insights into what could determine performance in fixed income for the rest of the year, this week we’re joined by Enda Mulry, Portfolio Manager in our Global Bond Strategies team.
This episode is hosted by Andrew Lowry, European Content Manager.
For professional investors only. Capital at risk.
Jun 6, 2025 • 24min
368: As above, so below: The case for crossover private credit
This week, we tackle part of the private credit universe that doesn’toften get much airtime. That’s ‘crossover credit’ – or in otherwords, the part of the market that sits between investment-grade andsub-investment-grade credit.Talking us through this episode is Stu Hitchcock, L&G’s Head ofPrivate Credit Portfolio Management. Stu addresses the size of thecrossover market, the types of deals that may utilise this form ofcredit and how it may fit into a portfolio.Asking the questions is Nick Jardine, Content Manager for L&G’sPrivate Markets platform.All data is sourced internally from L&G as of June 2025, unlessotherwise states.For professional investors only. Capital at risk. Source: Moody’s Annual Default Study, 2023. Based on issuer-weighted averagedefault rates and issuer-weighted senior unsecured bond recoveryrates, from 1983-2023.
May 29, 2025 • 12min
367: L&G explains: What does the term ‘money market fund’ actually mean?
What is a money market fund? Why do investors use them? And how might the path of interest rates, technological change and regulation affect the outlook for these funds?
Our guest for this podcast is Ross McDonald, a Liquidity Investment Specialist at L&G, to learn more about this sometimes overlooked – but crucial – part of the investor’s toolkit.
All data is sourced from Bloomberg as at 22 May 2025 unless otherwise stated.
For professional investors only. Capital at risk. It should be noted that diversification is no guarantee against a loss in a declining market.
May 22, 2025 • 22min
366: US tariffs, the Hong Kong dollar and UK inflation – Market Talk
Ben Bennett, Head of Investment Strategy Asia, shares his thoughts on the rebound in risk assets following the preliminary US/China trade deal. Also up for discussion are the rapid repricing of the Hong Kong dollar and what April’s inflation surprise in the UK means for the path of interest rates.All data is sourced from LSEG as at 21 May 2025 unless otherwise stated.For professional investors only. Capital at risk.
May 21, 2025 • 21min
365: Tomorrow and tomorrow and tomorrow – private markets in Q2 and beyond
2025’s macro turbulence has been well documented; but is there opportunity among the uncertainty?
As we approach the year’s halfway point, we look at what the economic environment means for private markets, looking at where we stand now and what may lie ahead in the medium term.
We’re joined by Rob Martin, Head of Investment Strategy and Research for L&G’s Private Markets platform, and Lushan Sun, Head of CrossAsset Research. Asking the questions and hosting is Nick Jardine, Content Manager for L&G’s Private Markets Platform.
This podcast was recorded on 16 May 2025.
Sources:
L&G, as of May 2025
MSCI, as of May 2025
Mckinsey & Co, as of January 2023
Preqin, as of May 2025
For professional investors only. Capital at risk.
For illustrative purposes only. Views expressed are of L&G as at 15 April 2025. The information in this podcast is for information purposes only and we are not soliciting any action based on it. It is not a recommendation to buy or sell securities or pursue a particular investment strategy. It is not investment, legal, regulatory or tax advice.
May 7, 2025 • 24min
364: What’s driving the recovery? Market Talk
Ben Bennett plots the path of interest rates in the US and UK, examines the factors driving the equity market rebound, and explains why possible tariffs on non-US films could have ramifications far beyond Hollywood.
All data is sourced from LSEG as at 6 May 2025 unless otherwise stated.
Taiwan dollar move source: Taiwan dollar's record rally is a trade-war tremor | Reuters
For professional investors only. Capital at risk. Securities mentioned for illustrative purposes only. Reference to a particular security is on a historic basis and does not mean that the security is currently held or will be held within an L&G portfolio. The above information does not constitute a recommendation to buy or sell any security.
