Secure income assets: new opportunities for a new decade

How secure income assets can help professional DB (defined benefit) pension schemes balance competing requirements for returns and cashflow on their journey to endgame.

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Fund information

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Mark Johnson

Mark Johnson

Head of Institutional Clients
Laura Brown

Laura Brown

Head of Client Solutions

*Secure income assets ("SIA”) identify cashflow outcomes from illiquid private asset classes, where the income stream often benefits from a range of contractual protections that enhance asset owners' rights to maintain expected cashflows (for example, covenant protections, specific security or ring-fenced collateral). The contractual protections of a particular asset will depend on these terms and the financial strength of the counterparty. SIAs are held with the aim of producing a predictable income stream - this income stream is not guaranteed and there is no underwriting of income provided to the fund.


Information for all Pension and Life Funds is issued by Legal and General Assurance (Pensions Management) Limited (‘PMC’). It is a life insurance company which carries on linked insurance business. As part of that business, it holds investments divided into separate sub-funds known as PF Sections. The value of each Policy that it issues is determined by reference to the value of one or more of the PF Sections. Legal & General Investment Management Limited, has been appointed as the investment manager of these PF Sections and is authorised and regulated by the Financial Conduct Authority. LGIM also provides investment and marketing services to PMC.

Legal and General Assurance (Pensions Management) Limited is Registered in England and Wales No. 01006112. Registered Office: One Coleman Street, London, EC2R 5AA, United Kingdom. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, No. 202202.

Key risks

The value of any investment and any income taken from it is not guaranteed and can go down as well as up, and investors may get back less than the amount originally invested. The risks associated with each fund or investment strategy should be read and understood before making any investment decisions. Further information on the risks of investing is available from LGIM’s Fund Centres.

While LGIM has integrated Environmental, Social, and Governance (ESG) considerations into its investment decision-making and stewardship practices, this does not guarantee the achievement of responsible investing goals within funds that do not include specific ESG goals within their objectives.