13th Oct 2014 10:45
LONDON (Alliance News) - Standard Life PLC Monday said its investment management business has taken another step towards integrating Ignis Asset Management Ltd, the business it acquired from Phoenix Group Holdings in March, with the alternative rates part of the business to be embedded alongside its multi-asset franchise.
In a statement, Standard Life Investments Chief Executive Keith Skeoch said the acquisition of Ignis improves its investment capabilities, third-party client base, and strategic position.
"The integration of the Ignis Absolute Return Government Bond Fund is a natural extension of our absolute returns offering, complementing our world-leading suite of absolute return products," Skeoch said in a statement.
According to Skeoch, Ignis Chief Investment Officer Chris Fellingham is overseeing the embedding process and will assume direct responsibility for the Absolute Return Government Bond Fund. Jonathan Gibbs and Adam Skerry from Standard Life Investments' inflation team will assume additional responsibilities for the fund.
A Standard Life spokesperson told Alliance News that the integration of Ignis is running according to schedule. The overall integration is to take between 18 and 24 months.
Standard Life shares were Monday quoted down 0.1% at 385.30 pence.
By Samuel Agini; [email protected]; @samuelagini
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