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Standard Life targets E1bn in new liability unit

UK - Standard Life Investments is targeting an extra one billion euros in assets under management at a new unit focusing on liability-driven investments for institutions.

The Edinburgh-based asset manager has unveiled a 'Strategic Solutions Unit' - whose aim is "to develop liability-driven and capital efficient investment solutions" for European pension and insurance funds.

Asked if the firm was looking at a figure for assets under management, the unit's head Euan Munro, said: "We definitely are." He said the target was one billion euros in the coming year, which was "attainable".

The firm says it already manages around two billion pounds (2.9 billion euros) in liability driven or capital efficient strategies.

Munro added he thought the new unit's approach was a "good fit" with pension funds in the Netherlands, as Dutch regulations were similar to UK insurance rules.

"We've been talking to a number of the investment consultants and a lot of pension funds directly," Munro added.

He described the approach as "applying active management knowledge with quantitative discipline".

Standard Life said the seven-strong division has been set up in response to a lot of interest from existing institutional clients.

The firm has re-hired Julian Coutts, who left to join Abbey National eight months ago, to head research and development.

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