LV= group chief executive Mike Rogers has confirmed the potential outsourcing of management of the friendly society's assets to Threadneedle.

Discussions are set to take place over the coming weeks, with a final decision due by August.

Rogers said, 'LV= has undergone a significant turnaround since 2007 and this is part of us ensuring our structure offers best value for our members.

'The LV= board is considering outsourcing asset management to enable it to focus on its fast expanding core trading lines within general insurance, protection and retirement solutions, as well as ensuring good investment returns for our with-profits members.'

Crispin Henderson, chief executive of Threadneedle, said, 'We believe our very strong track record of long-term outperformance and our experience in managing multi-asset funds for large and complex institutional clients means we are well placed to provide a compelling solution for LV= and its clients.'

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