UPDATE: F&C loses £12bn Friends Life mandate to Schroders

clock • 2 min read

Friends Life is to pull a further £15bn of assets from F&C Asset Management by the end of the year, with the majority going to Schroders.

In an announcement to the stock exchange, F&C said it will no longer run £12.2bn of equity and multi-asset mandates for Friends Life, which demerged from F&C in 2009. Schroders will take on the equity and multi-asset funds by the end of the year, while Friends Life will transfer a further £2.3bn of sterling fixed income assets to its own managers within Friends Life Investments. F&C had previously said it expects all its strategic partner assets to be withdrawn eventually, as their contracts expire. In its last results, F&C warned it faces 'significant headwinds' in the short term,...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Partner Insight: Navigating a new era for investing

Partner Insight: Navigating a new era for investing

Across the developed world, inflation is back and here to stay, says Wellington Management’s John Butler.

Sarka Halas
clock 13 March 2024 • 2 min read
Partner Insight: Should investors go global for more impact?

Partner Insight: Should investors go global for more impact?

Global investing offers scope for broader social impact as well as financial returns.

Sarka Halas
clock 11 March 2024 • 1 min read
Women in Investment Awards winner interview: Omotunde Lawal from Barings

Women in Investment Awards winner interview: Omotunde Lawal from Barings

Supporting the next generation

Katrina Lloyd
clock 07 March 2024 • 1 min read
Trustpilot