The acquisition of Ignis Asset Management will complement Standard Life Investments' strong organic growth and strengthen its strategic positioning. It will deepen its investment capabilities, broaden Standard Life Investments' third party client base and reinforce its foundation for building a business in the rapidly developing liability aware market.
The combined business will offer a full range of investment solutions, including active management for institutional and wholesale clients, discretionary wealth management for high net worth private clients and outcome orientated products for maturing pension schemes and insurance companies. As part of the transaction, Standard Life Investments will enter into a strategic alliance with Phoenix through which Standard Life Investments will provide asset management services to Phoenix's Life Company subsidiaries, including the potential to manage future books of assets that Phoenix may acquire.
The Phoenix Life Company Boards are supportive of Standard Life Investments as their investment manager of choice, reflecting Standard Life Investments' strength and heritage in managing insurance assets.
The consideration will be settled in cash from Standard Life Group's existing internal resources. We have just sent you an email so you can verify your account. Please check your spam or junk folder just in case it's been delivered there. Need help signing in? Issues with signing in?
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A link has been emailed to you - check your inbox. Click here to register. The third sleeve is the hardest to pin down. Recently, for instance, Ignis has worked with UK local authority pension funds on a review of their portfolios, which in turn can lead to follow-on work. This advisory work is completely tailored to individual client needs. Mark Long, formerly from FRM, is COO and leads a team of five who carry out operational due diligence, including site visits to asset managers and administrators, separately from the investment due diligence.
Timmerman likes to use quantitative tools to gauge portfolio and manager sensitivities to varying scenarios, such as high and low-volatility markets.
He then tries to ensure a balance of managers that will perform well under a range of scenarios, such as average, high or low volatility. Factor analysis breaks returns down into traditional betas, hedge fund factors and manager-specific returns.
Having previously invested at Coutts in private equity, Timmerman is now putting capital to work at Ignis in the asset class, through a fund of funds structure together with David Donahue. Timmerman also classifies illiquid credit under the private equity heading. These funds have a closed end, private equity-style structure, drawing down capital commitments as and when opportunities are found. The Strategic Credit Fund already has committed capital from Phoenix Group and Timmerman and Neitsch are now looking to attract third-party investors.
Multi-manager track records Timmerman rejects the suggestion that his business is another case of convergence between funds of funds and consultants. For instance, the fund of hedge funds, managed by James Orbell, displays an impressive return ratio.
It lost 8. The product had much shallower drawdowns than the average fund of funds, recovered them much faster, and has also delivered less equity market correlation. Helped by bearish bond views Three new launches are slated at Ignis.
Whereas the flagship ARGBF trades mainly developed G10 government bond markets, Ignis also has experience of emerging market bonds and currencies. ARGBF has been, on average, short of interest rate duration risk since around September — having been generally long for the prior 16 months.
The short view has been profitable this year, but the team finds it easy to tactically trade around the core view. Ignis still think that a US economy in rude good health will lead to tapering and view the 18 September statement as merely a temporary delay to the process, and expect the Fed to begin raising rates in Ignis use the blog to disseminate their thoughts after they have implemented trade ideas.
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