Ignis strikes £5bn annuity mandate deal

Ignis strikes £5bn annuity mandate deal

Guardian Financial Services has awarded Ignis Asset Management a £5 billion annuity mandate, marking one of the largest deals struck with a single investment manager in recent years.

Guardian took on around £5 billion of annuity in-payment liabilities from Phoenix Group Holdings – the parent firm of Ignis – in June this year.

Ignis manages around £30 billion of assets against liability benchmarks and is the fifth largest manager of annuity assets, based on the end of last year’s Financial Services Authority returns.

Chris Samuel, chief executive of Ignis, said: ‘This is a significant and long-term win for Ignis.’

At the end of last year, Ignis had around £81.5 billion in assets under management and administration.

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Thursday, June 28th, 2012 EN

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