Issued: 9 November 2004
Leading investment house Standard Life Investments has been selected by The Pensions Trust to manage a £75m segregated sterling corporate bond portfolio. The Pensions Trust is one of the UK's leading providers of occupational schemes for charities, voluntary bodies and not-for-profit organisations.
The appointment followed a comprehensive evaluation process involving a number of investment houses and is on a wholly discretionary basis.
Craig MacDonald, Investment Director, Fixed Income, is responsible for managing the sterling corporate bond portfolio. The fund's objective is to outperform the iBoxx Non-Gilt index. Craig also runs the £745m Corporate Bond fund and the £145m Long Corporate Bond fund.
George Walker, Head of UK Institutional Business at Standard Life Investments, said:
"We have been successful in winning both pooled and segregated bond business, but, significantly, this represents our first segregated sterling corporate bond mandate run against the iBoxx index.
"We have been seeing an increasing interest from both the charities sector in general and the charities pensions sector in particular. As a very high profile participant in this arena, The Pensions Trust is a flagship client and we are looking forward to more success within this important market."
Richard Stroud, Chief Executive of The Pensions Trust, said:
"We are very happy with the solution offered by Standard Life Investments and look forward to working with them."
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About Standard Life Investments
- With assets under management of £86.6 billion, Standard Life Investments is one of the UK’s major investment houses and controls around 1.7% of the UK stock market (15.05.04).
- Standard Life Investments is a wholly owned subsidiary of The Standard Life Assurance Company.
- Standard Life Investments operates in the UK, Canada, Ireland, Hong Kong and the USA. Standard Life Investments also operates in India through a joint venture with HDFC AMC.