For most DC savers, the default fund is their pension journey. Yet behind what appears to be a simple member experience sits a complex set of investment, behavioural and regulatory decisions.

In this DC Close Up episode for L&G Talks Asset Management, our Global Head of DC, Lesley-Ann Morgan, sits down with Head of DC Strategies, Graham Moles, to examine the changing world of DC defaults.

From the debate between target date funds and lifestyle approaches, to the growing role of member data, private markets and retirement design, they discuss how schemes are adapting to meet the changing needs of savers. The conversation also examines Value for Money, default decumulation and what comes next for one of the most important areas of DC pension design.

On the latest episode of L&G Talks Asset Management, we dive into the
world of platform investing.

We cover what platform investing is, looking at how this strategy differs from core real estate holdings and explore considerations investors need to make when thinking about allocating to this asset class. Our speakers also explain what their hearing from investors when it comes to platform investing and why this type of allocation might be appealing.

The podcast features:

• Emma Pullen, Director of Real Estate Fundraising
• Jonathan Waldner, Director of Real Estate Fundraising

This podcast is hosted by Nick Jardine, Content Manager at L&G, and was recorded on 30th June 2026.

Assumptions, opinions, and estimates are provided for illustrative purposes only. There is no guarantee that any forecast will come to pass.

Private markets come with a powerful narrative: patient capital, complexity premia,
and access to parts of the economy public markets can’t reach. But with every
narrative comes a set of assumptions that don’t always get challenged.

L&G’s Rebecca Burgess, Private Markets Asset Allocation Investment Specialist and
Lushan Sun, Head of Cross-Asset Private Markets Research unpack some of the most persistent myths surrounding private markets.

From illiquidity fears to valuation misconceptions, the team explores what’s true,
what’s outdated, and what investors may be overlooking.
This podcast is hosted by Sarka Halas, Content Manager, and was recorded on 15
June 2026.

For professional investors only. Capital at risk. Risk management cannot fully
eliminate the risk of investment loss. It should be noted that diversification is no
guarantee against a loss in a declining market.

For illustrative purposes only. Reference to a particular security is on a historic basis
and does not mean that the security is currently held or will be held within an L&G
portfolio. The above information does not constitute a recommendation to buy or
sell any security.

What really drives an investment decision and what happens before a trade ever reaches your portfolio?

L&G’s Francis Chua, Fund Manager, and Chris Franklin, Investment Specialist in our Asset Allocation team take us behind the scenes to unpack what the decision-making process actually looks like in practice. The discussion moves beyond models and market headlines to explore how views are formed, challenged and, at times, left
unresolved.

From the first signal, whether new data, market dislocation or a divergence in views, through to scenario analysis and portfolio positioning, the conversation highlights a process shaped less by prediction and more by preparation.
Along the way, the team examine how disagreement sharpens outcomes, how conviction is expressed through sizing, and why “no action” can still be a deliberate choice.
They also unpack the role of external perspectives, the importance of structured debate, and how behavioural biases are identified and managed in real time.

This podcast is hosted by Sarka Halas, Content Manager, and was recorded on 19 May 2026.

For professional investors only. Capital at risk. Risk management cannot fully eliminate the risk of investment loss. It should be noted that diversification is no guarantee against a loss in a declining market.

For illustrative purposes only. Reference to a particular security is on a historic basis and does not mean that the security is currently held or will be held within an L&G portfolio. The above information does not constitute a recommendation to buy or sell any security

On this week’s episode of L&G Talks Asset Management, we sit down
with Achal Arora, Managing Director of Digital Infrastructure
Investments.

With digital infrastructure increasingly being seen as critical to
modern economies, Achal runs down some of the ongoing trends in the
sector and how investors should understand present dynamics.

Among topics discussed are the influence of artificial intelligence,
reasons for a current focus on data centres and why clean power
infrastructure and digital infrastructure are converging.

This podcast was moderated by Nick Jardine, Content Manager and was
recorded on 20 May, 2026.

Assumptions, opinions and estimates are provided for illustrative
purposes only. There is no guarantee that any forecast will come to
pass.