Outlook: Investment management sale
London Stock Exchange Group (LSE) continues to gain from its strategy to diversify its business and gain exposure to growth opportunities through acquisition. The expected sale of the Russell Investment Management business has been announced and should complete in H116. In H115, it benefited from its acquisition of the Russell index business and organic growth in its other activities, especially at LCH.Clearnet’s SwapClear. LSE has identified more future revenue and cost-saving opportunities from its businesses. Its shares are trading in line with international peers on a P/E basis, but the yield is substantially lower. An update on LSE’s capital allocation and longer-term dividend policy is scheduled for March 2016.London Stock Exchange Group is a global markets infrastructure business based in the United Kingdom. Co's operating segments include: Information Services, which provides a range of information and data products including indexes and benchmarks; Post Trade Services LCH, which provides clearing services through which counterparty risk is mitigated across multiple asset classes; Capital Markets, provides access to capital for domestic and international businesses and electronic platforms for secondary market trading of equities, bonds and derivatives; and Group Technology, which provides secure technologies to customers that require performance at high levels of availability and throughput.
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