Deals



Standard Life Investments strengthens strategic position through acquisition of Ignis Asset Management


Posted: 26th March 2014 08:57

Standard Life plc today announces that its global investment management business, Standard Life Investments (Holdings) Limited ("Standard Life Investments"), has entered into an agreement with a subsidiary of Phoenix Group Holdings ("Phoenix") to acquire its asset management business, Ignis Asset Management Limited ("Ignis Asset Management" or "Ignis"). The transaction is conditional upon, inter alia, approval from the Financial Conduct Authority.

Strategic context

The acquisition of Ignis will complement Standard Life Investments' strong organic growth and strengthen its strategic positioning. It will deepen its investment capabilities, broaden Standard Life Investments' third party client base and reinforce its foundation for building a business in the rapidly developing liability aware market.
 
The combined business will offer a full range of investment solutions, including active management for institutional and wholesale clients, discretionary wealth management for high net worth private clients and outcome orientated products for maturing pension schemes and insurance companies.

As part of the transaction, Standard Life Investments will enter into a strategic alliance with Phoenix through which Standard Life Investments will provide asset management services to Phoenix's Life Company subsidiaries, including the potential to manage future books of assets that Phoenix may acquire. The Phoenix Life Company Boards are supportive of Standard Life Investments as their investment manager of choice, reflecting Standard Life Investments' strength and heritage in managing insurance assets.

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