Only the versatile need apply
First Published in Automated Trader Magazine Issue 10 Q3 2008
Legal and General Investment Management (LGIM) has some £300bn in assets under management invested globally. Almost half of this is invested in equities. Mary McCave, LGIM’s senior equity dealer, discusses how LGIM’s trading desk stays on top of the trade.
Mary McCave, Legal and General Investment Management’s senior equity dealer
How is the trading process at Legal and General Investment Management structured?
Our trading desk is based in London, and is responsible for handling global trading requirements for both active and passive funds. The desk consists of five people including myself, and we handle all cash equity and equity derivatives trading. The latter, which has traditionally been used for cashflow purposes to synthesise cash, represents a growing part of our activity, although not as yet a major part of our day-to-day volume.
Is the desk manned on a twenty-four hour basis?
Not currently – it is manned from 7 a.m. until 7 p.m. each day on a shift basis. Having said that, if needs be, traders will come in earlier or stay later, depending on the business requirements. Because we have a relatively small trading team, everyone has to be extremely versatile – while we all have certain specialist areas, everybody has to be able to cover all markets and sectors to allow for shift rotations and holidays etc.
How does the desk interact with Legal and General Investment Management’s portfolio managers?
Naturally we view our por...The rest of this Article is only available to Paid Subscribers
You can get news like this delivered directly to your email inbox as a real-time alert or as part of a daily/weekly summary.
Click here to set your preferences now!
