Friends 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
