Friends Life Investments recaptures assets

Life insuranceFriends Life Investments has brought £7 billion (€8.2 billion) of assets that were previously managed by third-party manager F&C Investments, in-house. The in-house asset management business of Friends Life Group, a UK life insurance company, was launched in July last year and has since “recaptured” £18 billion of assets. Friends Life says the move to internalise its asset management leverages its existing investment capability, which includes asset/liability management. Mark Versey, chief investment officer of Friends Life, says targets have been met. ©2013 funds europe

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