Acquisition

RNS Number : 9485K

Standard Life plc

01 July 2014

 



Standard Life plc

1 July 2014

STANDARD LIFE COMPLETES ACQUISITION OF IGNIS ASSET MANAGEMENT

Standard Life plc confirms that Standard Life Investments (Holdings) Limited has today completed the acquisition of Ignis Asset Management Limited from a subsidiary of Phoenix Group Holdings for £390m. This follows Financial Conduct Authority consent to the proposed change in control.

Commenting on the transaction Keith Skeoch, Chief Executive, Standard Life Investments, said:

"The acquisition of Ignis is another step in Standard Life Investments' growth story, reinforcing our strong foundations, broadening our third party client base and increasing the range of investment solutions we offer.

"We look forward to working with our new colleagues and welcoming new clients to Standard Life Investments. Our priority remains the continued delivery of strong investment performance and the highest level of client service."

For further information, please contact:

Media Enquiries
Yvonne Soulsby

Press Manager

Standard Life Investments

[phone]*

[phone] [e-mail]

Investor Enquiries

Lorraine Rees

Investor Relations Director

Standard Life plc

[phone]*

[phone] [e-mail]

Jakub Rosochowski

Investor Relations Senior Manager

Standard Life plc

[phone]*

[phone] [e-mail]

* Calls may be monitored and/or recorded to protect both you and us and help with our training. Call charges will vary.

Notes

About Standard Life Investments

With assets under management of £191.7 billion, Standard Life Investments is one of Europe's leading investment houses.  It is a wholly owned subsidiary of Standard Life plc.  Headquartered in Edinburgh, Standard Life Investments maintains offices in a number of locations around the globe including Boston, Hong Kong, London, Beijing, Montreal, Sydney, Dublin, Paris and Seoul.  In addition, Standard Life Investments has close relationships with leading domestic players in Asia, including HDFC Asset Management in India and Sumitomo Mitsui Trust Bank in Japan.

About Standard Life

Standard Life is a leading provider of long-term savings and investments. Established in 1825 and headquartered in Edinburgh, the company has around 8,500 employees internationally.

The Standard Life group includes savings and investments businesses, which operate across the UK, Canada, Europe, Asia and the Middle East; workplace pensions and benefits businesses in the UK and Canada; Standard Life Investments, a global investment manager, which manages over £191 billion assets globally; and its Chinese and Indian Joint Venture businesses.

At the end of March 2014 the Group had total assets under administration of over £247 billion, directly looking after around six million customers worldwide and supporting a further 16 million customers through its Joint Ventures.

Standard Life plc is listed on the London Stock Exchange and has approximately 1.3 million individual shareholders in over 50 countries around the world. It is listed in the Dow Jones Sustainability Indices (DJSI World and DJSI Europe) in recognition of the company being a leader in its industry in terms of corporate sustainability.

All figures at 31 March 2014.

About Ignis

As at 31 December 2013, Ignis was responsible for managing £59 billion of assets (excluding stock lending collateral) including £44 billion of assets for Phoenix's Life Companies and Holding Companies, and £15 billion of third party assets. Ignis also manages £7 billion of stock lending collateral on behalf of Phoenix's Life Companies. Ignis generated IFRS pre-tax operating profits of £49 million in 2013, and had IFRS total assets excluding intangibles of £191 million and IFRS net assets excluding intangibles of £108 million as at 31 December 2013.

With offices in London and Glasgow, and approximately 360 employees as at 31 December 2013, Ignis Asset Management has investment capabilities across multiple asset classes.

 

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