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.

SLI secures £1.1bn property trust after Ignis assurance

SLI secures £1.1bn property trust after Ignis assurance

Management of the UK Commercial Property trust has changed from Ignis to Standard Life Investments with the existing team, including portfolio manager Robert Boag, moving across.

The £1.1 billion closed ended fund's share price returned 14.6% in one year to the end of June, compared with a rise of 12.1% for the MSCI ACWI/real estate benchmark. In three years, the trust's share price has returned 22.8%, compared with 28.4% for the benchmark.

The £390 million acquisition of Ignis by Standard Life Investments completed yesterday, and there is expected to be significant synergies made as part of the deal.

'Following detailed  discussions with  Standard Life  Investments ('SLI'),  the board is pleased to  confirm that SLI has also provided assurances regarding the retention of the team involved in the management and administration of the company which will  provide continuity for the successful  management of  the company going forward,' the UK Commercial Property Trust's board said in a statement.

SLI already has a real estate team of more than 120, with £10.5 billion in assets.

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 CEO tapes 2: the right way to pay fund managers

CEO tapes 2: the right way to pay fund managers

In second part of our latest CEO series, seven fund bosses lift the lid on how they pay managers.

Play Get out of low vol, warns 'godfather' of smart beta Rob Arnott

Get out of low vol, warns 'godfather' of smart beta Rob Arnott

Rising valuations are making the Research Affiliates founder nervous, so he's advising clients to rotate into value-orientated strategies.

Play CEO tapes 2: the active fund industry has 'over promised'

CEO tapes 2: the active fund industry has 'over promised'

Citywire invited a batch of fund bosses to share their views on the industry ahead of this week's crucial FCA report.

Read More
Your Business: Cover Star Club

Profile: Rathbones' fund boss on spotting emerging talent

1 Comment Profile: Rathbones' fund boss on spotting emerging talent

A great fund manager is really easy to spot, says Mike Webb, chief executive of Rathbones Unit Trust Management

Wealth Manager on Twitter