LV= to sell asset management arm

Liverpool Victoria is due to sell its investment arm LV= Asset Management, according to reports.

The mutual friendly society has appointed Fenchurch Advisory to deal with the sale, while the shortlist of buyers has come down to four potential firms, The Financial Mail reports. This shortlist includes industry consolidators and asset managers seeking to build a presence in the UK. LV = Asset Management manages more than £8bn, mostly on behalf of with-profits customers. The report says the firm's chief executive Mike Rogers is keen to do a deal.