SAN FRANCISCO, Nov. 5, 2019 /PRNewswire/ -- OpenInvestand Legal & General Investment Management America (LGIMA) are working together to deliver index solutions that allow clients to target their desired financial objectives while incorporating environment, social and governance criteria on a fully customized basis.
Under an agreement, LGIMA will use OpenInvest's dynamic custom indexing (DCI) technology system to provide institutional clients with the ability to execute disciplined portfolios that include real-time market and ESG data. Pensions, corporations and foundations that use the solution will be able to track market benchmarks and incorporate proprietary environmental and social data.
"Legal & General can use our dynamic custom indexing capabilities to help the world's largest asset owners align their institutional funds with their missions and stakeholders," said Joshua Levin, co-founder and chief strategy officer, OpenInvest. "We're seeing a new technology horizon, where investing expertise melds with automated mass customization around ESG investing. We are thrilled to work with LGIMA to deliver customized, values-based investments to their institutional clients."
OpenInvest's asset management platform provides granular customization, direct shareholder engagement and proxy voting. Its proprietary algorithms automatically rebalance portfolios to keep them dynamically diversified as investors invest/divest in individual causes, companies or institutional values.
"We aim to provide best-in-class investment solutions for our clients and help them hit their goals and objectives," said Aaron Meder, chief executive officer, Legal & General Investment Management America. "OpenInvest's dynamic custom indexing platform allows us to provide customized and cost effective investment solutions tailored to our clients' needs. Its flexibility allows us to help clients achieve their risk and return objectives while ensuring the relevant ESG criteria are reflected in their investments."
About Legal & General Investment Management America Legal & General Investment Management America, Inc. (LGIMA) is a registered investment advisor specializing in designing and managing investment solutions across active fixed income, index strategies, multi-asset, liability driven investment, and sustainable investment strategies for the US institutional market. With $202 billion in assets under management as of June 30, 2019, LGIMA is a wholly-owned subsidiary of Legal & General Investment Management US (Holdings) Inc., which is in turn, wholly owned by Legal & General Investment Management (Holdings) Ltd. (LGIM(H)). LGIM(H) also owns our affiliates Legal & General Investment Management Ltd. and LGIM International Ltd. Legal & General's worldwide assets under management are approximately $1.4 trillion as of June 30, 2019. For more information on LGIMA, visit http://www.lgima.com/.
About OpenInvest OpenInvest (https://openinvest.com) provides the infrastructure layer for the post-fund world. A tech-enabled SMA (separately managed accounts) asset manager, OpenInvest's technology enables customization, direct indexing and impact investing at scale. OpenInvest's APIs empower relationship managers to deliver their own factor portfolios, personalization, and/or tax-loss harvesting, while maintaining firm-level discipline. OpenInvest was founded by architects of Bridgewater Associates' portfolio management, risk control, and trading systems, and is backed by Andreessen-Horowitz, Y-Combinator, Kevin Durant's Thirty-Five Ventures, and QED - the founders of CapitalOne. For more information, visit https://www.openinvest.com.