Legal & General is to take over the management of most of Scottish Friendly's £355m life fund busin...
Legal & General is to take over the management of most of Scottish Friendly's £355m life fund business as part of an outsourcing agreement. L&G will handle the management of the friendly society's tracker funds, which have combined assets of £230m, which link to the FTSE All-Share, the All Stocks Gilts index and several foreign equity indices. The remainder of the life business is invested in a number of specialist investment portfolios, including holdings in several property funds and specialist equity funds, run by Colin McLean's SVM and Edinburgh Partners, recently launched by Sandy N...
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