Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Friends Life awards £14.5 billion mandate to Schroders

Friends Life awards £14.5 billion mandate to Schroders

Friends Life is to transfer £14.5 billion in assets from F&C to a new strategic partnership with Schroders.

The insurance business is due to redeem £12.2 billion in equity and multi-asset mandates and a further £2.3 billion in sterling fixed income mandates from F&C over the course of the year.

Friends Life formerly owned as much as 52% of the investment business, but the two companies have been steadily disentangling their former involvement.

Bank of Montreal agreed a £708 million takeover bid for F&C at the end of January. Assets under management at F&C fell 4.9% last year as investors, including Friends Life, withdrew £13.3 billion.

‘This partnership is another important step in the development of our multi-asset business and brings new assets to a number of capacity unconstrained equity strategies,’ said Schroders chief executive Mike Dobson.

‘In addition to this stable pool of long-term assets we look forward to working with Friends Life to develop investment products and solutions for its retail and corporate pension fund customers.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Rathbones' Smith on China's economic hegemony ambitions

Rathbones' Smith on China's economic hegemony ambitions

Discussing China's saving problem, Ed Smith argues that if the country opens up there will be an outflow of capital.

Play Liontrust ESG head says sustainable investment doesn't mean low return

Liontrust ESG head says sustainable investment doesn't mean low return

Peter Michaelis talks about ethical investment growth and where he sees future opportunites.

Play Are platforms the biggest barrier to wealth manager ETF take-up?

Are platforms the biggest barrier to wealth manager ETF take-up?

Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.

Read More
Wealth Manager on Twitter