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.