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Friends Life launches investment partnership with Schroders


Friends Life has appointed Schroders to manage a range of funds on behalf of its customers.

From the fourth quarter of 2014, Schroders will assume responsibility for GBP12.2bn of Friends Life’s multi asset and equity portfolios on behalf of Friends Life’s UK business.
In addition, from the fourth quarter of 2014, Friends Life Investments Limited (FLI) will take responsibility for a further GBP2.3bn of Friends Life’s sterling fixed income assets. This will bring the value of the group’s assets FLI has brought in-house, since its launch in 2012, to over GBP20bn.
Andy Briggs (pictured), group chief executive at Friends Life, says: “At Friends Life our investment proposition delivers access to some of the best managers across a wide range of asset classes and investment solutions. We are delighted to place Schroders at the core of the Friends Life investment proposition, while maintaining choice for customers and their advisers.
“Schroders has excellent credentials across the investment spectrum, generating superior outcomes in equity and multi asset management. Importantly, our two organisations share a commitment to innovation and putting customer needs first.”
Mike Dobson, chief executive of Schroders, says: “We are delighted that Friends Life has decided to partner with Schroders, recognising our strong position in multi-asset investment solutions and equities. This partnership is another important step in the development of our multi-asset business and brings new assets to a number of capacity unconstrained equity strategies. In addition to this stable pool of long-term assets we look forward to working with Friends Life to develop investment products and solutions for its retail and corporate pension fund customers.”

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