Standard Life launches pounds 60bn investment house
Wednesday 11 November 1998
The new subsidiary, Standard Life Investments, will compete with managers such as Mercury Asset Management and Morgan Grenfell, and is aiming to manage pounds 100bn within five years.
The group will begin by managing Standard Life's existing funds, which hold shares amounting to 2 per cent of the UK equity market. It will also aim at a 5 per cent share of the retail investment market, managing money for private investors.
Standard Life said it had "aggressive plans" to challenge established fund managers, such as bidding for contracts to run hundreds of millions of pounds at a time for big pension funds.
Sandy Crombie, the chief executive of the new company, claimed the insurer had already outperformed established fund managers in the market to run pooled pension funds on behalf of small and medium-sized companies.
The company, which has taken four years to organise,will have a staff of 500, most based in Edinburgh with 30 in Montreal, Canada.
Diving in at the deep end is no excuse for shirking the style stakes
- 2 Why I'm on the brink of burning my Israeli passport
- 4 War is war: Why I stand with Israel
- 5 Blackest is the new black: Scientists have developed a material so dark that you can't see it...
Ian Thorpe gay: Olympic swimmer comes out in Parkinson interview
Stephen Fry ‘criticises Operation Yewtree in dinner party rant’ calling for tougher laws to deter false sex abuse allegations
Israel-Gaza conflict: ‘Sderot cinema’ image shows Israelis with popcorn and chairs 'cheering as missiles strike Palestinian targets'
Israel-Gaza conflict: Israeli air strike destroys home for the disabled killing two women residents
Israel-Gaza conflict: Israeli PM says conflict may 'continue for a long time' as hundreds of Palestinians flee their homes
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Australia facing international condemnation after turning around Sri Lankans at sea
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
iJobs Money & Business
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...