Standard Life acquires Ignis
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 excellent shape.”
“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.
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