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Friends Life confirms new investment partnership
18 March 2014
Schroders to manage funds from Q4 2014
Schroders will assume responsibility for £12.2bn
($20.22bn) of Friends Life’s multi asset and
equity portfolios on behalf of Friends Life’s UK
business from the fourth quarter of 2014.
At the same time, Friends Life Investments Limited (FLI) will
take responsibility for a further £2.3bn of Friends
Life’s sterling fixed income asset. This will
bring the value of the group’s assets FLI has
brought in-house since its launch in 2012 to over £20bn.
"Schroders has excellent credentials across the investment
spectrum, generating superior outcomes in equity and multi
asset management," said Andy Briggs, group chief executive
Friends Life. "Importantly, our two organisations share a
commitment to innovation and putting customer needs first."
"In addition to Schroders’ appointment we will
also be bringing more funds in-house so that FLI will manage
more than £20bn of assets. We believe FLI’s
expertise in the sterling government and credit markets,
combined with the multi-asset and equity skills of Schroders
offer an exciting investment proposition for our existing and
"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," added Mike
Dobson, chief executive Schroders.
"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