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Standard Life acquires Ignis
26 March 2014
Deal boosts fund management business
Ignis Asset Management
Ignis Asset Management has been acquired by Standard Life in a
deal worth £390m. The acquisition will increase Standard
Life's AuM by approximately £59bn ($97.6bn).
Newly-released 2013 results show Ignis recorded an operating
profit of £49m (a 14% increase year-on-year). New assets
of £1.9bn were raised - up from net sales of £1.6bn
in 2012 and £1.2bn in 2011 - and 85% of AuM outperformed
benchmarks and peer groups in 2013, compared to 79% in 2012 and
73% in 2011.
Ignis expects the combination with Standard Life Investments to
enhance key client offerings including absolute return bonds,
liquidity and real estate propositions.
"Ignis is now ready to move on to the next phase of its
development by way of a combination with Standard Life
Investments," said chief executive officer Chris Samuel.
"Standard Life Investments will inherit a strong range of
products and investment capabilities and a group of talented
individuals who will be an asset to the merged business. I am
delighted that the business is being handed over in such
"Continuity of investment performance and commitment to client
service and relationship management remain our key priorities,
with migration and integration of Ignis taking place in a
controlled manner under unified management from day one," added
Keith Keoch, chief executive Standard Life Investments.