Since its launch in 2011 the Legal & General’s Mastertrust has attracted a number of very large UK employers looking to provide a robust pension offering to their employees and has been at the forefront of innovation and good governance. The Trustee Board has expanded over that time and is now being further strengthened by the appointment of Mike Craston as Trustee.
Craston was formerly MD Global Institutional Business and CEO of Legal & General Investment Management America. He has in recent years been the driving force behind LGIM’s penetration of the US market and also led the development of the Hong Kong operation.
Paul Trickett Chairman of the Legal & General Mastertrust, says: “I am delighted Mike is joining the Trustee Board. Mike brings a wealth of fund management experience and is a well-respected figure in the institutional fund management space. We are looking to constantly evolve as a Trustee Board and Mike’s appointment compliments well the skills and experience of the other members.”
The L&G Master Trust was launched in 2011 and now has 38 participating employers covering over 250,000 employees, with assets under administration now over GBP1.4 billion*. Total workplace assets under administration are now at GBP13.0 billion, with net inflows of GBP0.5 billion in Q1 2015. Auto-enrolment participation rates remain high at over 90 per cent, and LGIM has retained its market share of 20% of new members being enrolled in Q1.